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The government intends to expand mortgage vacations in Russia

The government intends to expand mortgage vacations in Russia
Photo: pixabay.com

The federal authorities plan to extend the holidays on consumer and mortgage loans in Russia so that more people can take advantage of this measure. This was announced at a government meeting by Prime Minister Mikhail Mishustin.

Prior to this, at a meeting with the leadership of the United Russia faction in the State Duma, the head of the Cabinet of Ministers said that the government supported the party’s proposal to expand credit and mortgage vacations and had already taken them to work.

As told Interfax Anatoly Aksakov, head of the State Duma’s financial market committee, it is planned that the maximum loan amount for obtaining the right to credit holidays for victims of the coronavirus pandemic will increase. In the regions it will be differentiated, and for car loans it will grow from 600 thousand rubles to one million rubles.

According to the National Bureau of Credit Histories, due to current credit vacation requirements most loans will not get. In the mortgage, only 32,4% fit into the established limit, while in car loans 41% of issued loans are subject to restrictions.

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