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Arctic, Far Eastern mortgage borrowers can apply for interest rate markdown
Arctic, Far Eastern mortgage borrowers can apply for interest rate markdown
Arctic.ru: Discover how Russia implements its development goals in the Arctic and the Far East
2025-10-29T11:03
2025-10-29T11:03
2026-03-13T09:24
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The Russian Ministry of Finance has clarified that the reduction of the interest rate is available to borrowers who have taken out a combined loan, with part issued at a concessional rate within the set limit and another part at a market rate above the limit.The Bank of Russia has recently lowered the key interest rate, prompting lending market changes. Earlier, banks issued mortgages at a market rate for amounts over 12 million rubles in Moscow, the Moscow Region, St. Petersburg and the Leningrad Region, and amounts over 6 million rubles for other Russian regions.The actual concession under a combined mortgage depends on the key interest rate and terms of a specific lender.“Refinancing is unlimited. In the past, banks considered refinancing the market-rate part of a mortgage as issuance of a new loan. Since a concessional mortgage is only available once per borrower, the concessional rate under refinancing would be recalculated at a market rate,” the ministry explains.However, starting February 1, 2026, a limit of one concessional loan per family will be introduced. Spouses will be obliged to register as co-borrowers. Yet, they will still be allowed to engage third parties if their own income is below the threshold for mortgage issuance.
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Arctic, Far Eastern mortgage borrowers can apply for interest rate markdown
The Russian Ministry of Finance has clarified that the reduction of the interest rate is available to borrowers who have taken out a combined loan, with part issued at a concessional rate within the set limit and another part at a market rate above the limit.
The Bank of Russia has recently lowered the key interest rate, prompting lending market changes. Earlier, banks issued mortgages at a market rate for amounts over 12 million rubles in Moscow, the Moscow Region, St. Petersburg and the Leningrad Region, and amounts over 6 million rubles for other Russian regions.
The actual concession under a combined mortgage depends on the key interest rate and terms of a specific lender.
“Refinancing is unlimited. In the past, banks considered refinancing the market-rate part of a mortgage as issuance of a new loan. Since a concessional mortgage is only available once per borrower, the concessional rate under refinancing would be recalculated at a market rate,” the ministry explains.
However, starting February 1, 2026, a limit of one concessional loan per family will be introduced. Spouses will be obliged to register as co-borrowers. Yet, they will still be allowed to engage third parties if their own income is below the threshold for mortgage issuance.
