Business proposed to introduce the right to refinance preferential mortgages

It is planned to consider the possibility of refinancing preferential mortgages in Russia.  The corresponding proposal has already been sent to the government and the Central Bank of the Russian Federation.  The idea is to legally give citizens the right to change the preferential rate on an already taken loan if it is subsequently reduced.

At the moment, such a right is prohibited, and high interest rates on loans stop potential buyers from signing mortgage agreements.

The opinion about refinancing was voiced by the head of the "Etazhi" company Ildar Khusainov. It was his company that initiated the amendments to the current legislation in terms of the borrower's right to refinance a preferential mortgage, Izvestia reports.

According to Alexander Yakubovsky, who is a member of the State Duma committee on construction and housing and communal services, the proposed measure is fairer in relation to buyers.

However, a number of experts believe that the introduction of such an opportunity may lead to the fact that the state may not have enough funds to subsidize the difference between rates, which is a certain risk. Therefore, it is more logical to make the rate “floating”, e.g. to leave it depending on the key one.