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Primorye authorities will continue to pay off mortgage interest to residents

Primorye authorities will continue to pay off mortgage interest to residents

In Primorye, families who have taken a mortgage will continue to compensate for payments at the interest rate. For this, in 2020, more than 110 million rubles were allocated in the regional budget.

The support of the regional treasury is able to cover 50% of the funds used to pay interest on the mortgage loan. According to the press service of the Primorye government, the average amount of payments in 2019 amounted to 5,6 thousand rubles per month. At the same time, only borrowers, whose loan size does not exceed 2,5 million rubles, can count on help.

Compensation is granted for five years. The provision of financial assistance may be terminated ahead of schedule upon full repayment of the home loan by the borrower, as well as in the case of a three-month overdue loan debt, or due to moving to another region. 

Compensate part of the mortgage interest in the region began in 2012. According to the Minister of Labor and Social Policy of Primorye, Svetlana Krasitskaya, reducing the cost of mortgages with the help of the state significantly helps the family budget and becomes an incentive to purchase housing in new homes. However, now developers are offering a one-room apartment in Vladivostok on average for three million rubles. 

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