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Putin legalized preferential mortgages in the Far East
The preferential mortgage in the Far East will be legalized. The corresponding instruction to the Russian government was given by President Vladimir Putin. As a result of this, a number of federal laws are subject to change. The head of state also named the source of funding for this program.
As reported on the official website President, the order was prepared following the results of the fifth Eastern Economic Forum. The mortgage at 2% per annum will be provided to young families of the Far East, where both spouses are under the age of 35, as well as to recipients of the “Far Eastern hectare”.
Mortgage financing will be implemented at the expense of the state program "Socio-economic development of the Far Eastern Federal District" and JSC "Development Fund of the Far East and the Baikal Region". In 2020, the total amount of allocated funds can be from five to ten billion rubles.