President Vladimir Putin announced a number of changes to the Arctic mortgage program – they may affect loan limits and requirements for borrowers. In particular, the president agreed with the proposal to increase the maximum loan amount for an Arctic mortgage. This happened at Putin’s meeting with residents of the Arctic region, which took place via video conference during the president’s visit to Arkhangelsk, RBC reports.
Currently, the program limit is 6 million rubles. Borrowers approached Putin with a proposal to increase this amount, since the existing limit does not allow families to purchase an apartment of the required size. “I agree with you, that’s what we’ll do. We need to raise this bar. There’s not enough there, you’re absolutely right,” Putin replied.
The President also agreed to consider reducing the length of service requirements for some Arctic mortgage borrowers. In particular, Putin was asked to cancel the length of service requirements for doctors working in the Arctic.
In addition, the program needs to be expanded for SVO participants, Putin added, noting that they should be able to receive loans without age restrictions. The president also promised to consider the possibility of raising the maximum age for Arctic mortgage borrowers – employees of defense enterprises and members of their families.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
