In 2021, mortgages for individual housing construction (IZHS) will begin to be issued to Russians. However, the interest rate on this type of loans will be higher than usual, said RIA News Deputy Prime Minister of Russia Marat Khusnullin.
“We will test it this year and hope that a product will appear on the banking market that will allow every home owner to take out a loan and build or reconstruct an existing house,” Khusnullin said. According to him, the financing of this program will be measured “in tens of billions”, but it is too early to talk about exact figures.
The official stressed that the demand for individual housing is high, but there are problems that prevent the start of issuing such a mortgage. “The land is not demarcated, has no value, does not represent a collateral interest. And banks do not lend this product, ”he explained.
In February, the construction of a private house was proposed to be included in the preferential mortgage program. State Duma Deputy Vasily Vlasov emphasized that the development of measures to support individual housing construction (IHS) was entrusted to Russian President Vladimir Putin.
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source https://pledgetimes.com/in-russia-will-begin-to-issue-a-mortgage-for-the-construction-of-houses/
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