Officials need it more: The Ministry of Finance has proposed offering low-interest mortgages for government employees—up to 12% per annum. Everyone else is currently being offered 28%.
The government began thinking about the well-being of civil servants back in the summer, launching a pilot program for preferential mortgages. Under this program, civil servants were able to compensate The cost of 33 square meters of housing, purchased with a mortgage, was financed from the federal budget (the funds were allocated to cover the down payment and partial repayment of interest).
However, in the autumn the key rate in Russia took off until 21 percent and provoked an increase in the cost of mortgage loans (Sberbank, for example, asks now from 28,4 to 28,7 percent per annum).
The Ministry of Finance decided that officials needed help again - and offers introduce a program that will allow them to pay no more on the loan 12 percent per year (the rest of the difference will be paid by the federal budget, that is, taxpayers).
The ministry believes this will help enhance the prestige of civil service and attract young professionals. The government claims that teachers and doctors will also be eligible for the same benefit. But only after the "experiment" ends, which currently only applies to employees of the Ministry of Finance, the Ministry of Construction, the Ministry of Labor, the Federal Tax Service, and the Treasury (a strange choice, isn't it?).
Civil servants under 35 who have experience participating in the SVO or have received a state award will be eligible for preferential mortgages. Winning a management or professional excellence competition will also be considered.
By the way, the head of the Central Bank Nabiullina, speaking today at a plenary session of the State Duma, already stated, that mortgages in Russia are currently unaffordable for many, and many have had to postpone their home purchases.
She also promised to lower the key rate as early as next year, but only on the condition that there are no "new shocks" to the economy.
