According to the Finance Ministry’s Press Service, the soft-term plan applies to families, where the third or subsequent child was born after January 1, 2024, with the age limit lifted in their case.

It will be recalled that this soft-term plan is intended for citizens aged up to 36 years, but now the age limit is null and void where families with many children are concerned.

In addition, the soft-term mortgage plan is not only for teachers but also for all employees of public-sector or municipal educational organizations located in the Far Eastern Federal District as well as on land territories in the Arctic zone, with job, age and family status restrictions lifted for their benefit.

Moreover, the Far Eastern and Arctic mortgage can be used to purchase both primary- and secondary-market housing. This rule will apply to towns where apartment houses are yet to be built or the number of houses currently under construction does not exceed two. Statistics on the number of houses in process of construction can be found in project declarations posted in the unified information system on housing construction. The soft-loan program stipulates that apartments eligible for buying are to be sought at houses not older than 20 years and remaining in a state other than dilapidated.  The lending terms for secondary-market housing purchases under this program will be identical to those on which newly-built housing can be bought.    

“To promote further development of the Russian Far East, it is necessary to create comfortable conditions for human living and increase availability of housing.   The amendments we have approved will help families already living in the region or just planning to move to solve their housing problem. Moreover, extending the program to educators will facilitate the enlistment and retention of young skilled specialists in the Far East,” Finance Minister Anton Siluanov said.