Family mortgage relief to cover whole loan term, Mishustin says

MOSCOW, Aug 17 (PRIME) – The preferential 6% rate for family mortgages will cover the entire term of a loan, Prime Minister Mikhail Mishustin said on Tuesday.

The government is extending the family mortgage program until the end of 2023.

“The reduced rate will cover the whole term of the mortgage. To ensure the enhanced program, the government is doubling the limit of the loans to 1.7 trillion rubles,” Mishustin told a government meeting.

According to Mishustin, the new measures will support several industries and help more young families buy their own housing.

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