State Duma names the main obstacle to family mortgages for families with one child

Lawmaker names barriers for families with one child

The elevated interest rate combined with income requirements has become the main obstacle for families with one child who want to take out a family mortgage. Gazeta.Ru was told this by Alexander Aksenenko, first deputy chairman of the State Duma Committee on Construction and Housing and Utilities. In his estimate, to get approval for a 12 million ruble loan at 12%, a family may need a combined income of about 240,000 rubles a month, and in addition buyers need to save up a down payment. The specific requirements, the lawmaker clarified, depend on the bank and on the borrowers' other obligations.

What changed on October 1

From October 1, for families with one child under the age of seven, the rate is 10% in the regions and 12% in Moscow, St. Petersburg, Moscow Region and Leningrad Region. The loan limit is 6 million and 12 million rubles respectively. The changes apply to new contracts. Earlier, the budget for buying an apartment had already been calculated for families with one child.

The lawmaker's position

“For a long time I have consistently spoken out against raising rates for families with one or two children, and I believe that differentiation should encourage the birth of children, not punish families with one child,” Aksenenko said. In his view, the program should help not only expand existing families but also create conditions for the birth of the first and second child. For young parents, he added, it is especially difficult to meet both the income requirements and the down payment requirements at the same time, so assessing the program's accessibility solely by the availability of a preferential rate is not enough.