Mortgage loans will only be issued for purchase of housing in new buildings

Prime Minister Vladimir Putin at a meeting on the implementation of priority national projects, said that mortgages will be issued exclusively for the purchase of apartments in new buildings. He expects that this move would stimulate housing construction. New apartments are cheaper than the same housing on the secondary market. In particular, thanks to a strong drop in prices for construction materials. The state incentive program for mortgage should start operating in April this year. According to Putin, in 2007-2008, was granted 820 thousand mortgage loans amounting to 1 trillion 200 billion rubles. Because of this, was built 61 million square meters. meters and 64.1 million square meters. meters of housing. In addition, the maximum size of the standard mortgage loans to purchase apartments in new buildings should not exceed 3 million rubles. in the regions, and 8 million rubles. in Moscow and St. Petersburg. "I believe that with the help of government loans, we can and should stimulate the demand is for low-cost, affordable housing", - underlined the prime minister. Recall that in early February, the head of HMLA Alexander Semenyaka said that lending institutions have applied to participate in a joint program of the agency and the Federal Fund for Housing Development Fund (RZHS) totaling 25 billion rubles. The program will be implemented in three ways. Agency for Housing Mortgage Lending (HMLA) will buy from banks mortgage loans. HMLA will acquire the so-called mortgage entities. It is, inter alia, on loans of the Fund RZHS to purchase housing from developers. In this case, from the developers are required to build housing economy class on the land fund. Note that banks are not willing to give credit for the purchase of housing in new homes, as fear unfinished. Ready housing - this is a normal mortgage, which can, in case of problems with the borrower to withdraw and sell back its loan. When loans are construction sites, often give a loan against the air, yet non-existent under the apartments. This situation is banks do not like. The construction industry in Russia - one of the most zakreditovannyh, that is, the builders and developers of huge debts. Many market participants, in fact, are on the verge of bankruptcy, and, naturally, they freeze the construction of many objects. In these circumstances, to give credit - it is very difficult and courageous step for the bank.