16 April. The program "Preferential mortgage for families in which there is a second and third child" in fact, fails. The time for the swing has long since passed, and under the program only 8 mortgages have been issued. Why is this happening?
In the two months that the program actually works, only 8 concessional mortgages have been issued for families with a second or third child. Against the backdrop of numerous reports of leaders of various levels about the importance of this program, such a figure looks like a failure.
Each program has a certain period of "swing". But this program, positioned as socially significant and capable of pushing the Russian economy, this start looks very protracted.
Currently, 47 creditor banks participate in this program, some of them announced participation in the program in early January. For 2 months, about 150 thousand second and subsequent children were born in Russia. For borrowers with children, you could expect a different result, especially since refinancing of the current mortgage is envisaged (refinancing is a transaction that involves only a reissue of securities).
Of the eight issued loans, five - exactly under the refinancing program, the remaining three - the purchase of housing in a new building. The results were achieved only by three participants of the program: DOM.RF (known as the Agency for Housing Mortgage Lending) - it issued 5 loans, Sberbank - issued two loans and Absolut Bank - one loan. Seven families received benefits at the birth of the second child, one family - at the birth of the third. What is the reason for this sluggish start of the preferential children's mortgage?
What is a children's mortgage?
Preferential mortgages can be obtained by families in which the second or third child was born between January 1, 2018 and December 31, 2022.
The advantage lies in the possibility of obtaining a mortgage at a rate of 6% per annum. In February 2018, the average rate on issued mortgage loans was 9.75% per annum. That is, in theory, state funding can reduce the burden by almost 4%.
So, a preferential mortgage is provided for:
- families with two or more children;
- the family is solvent and creditworthy;
- the family has an initial contribution of 20% of the cost of housing;
- the family must choose housing in an accredited building site.
And all this in the first days of the birth of the baby, when there is so much trouble.
The privilege is valid for 3 years at the birth of the second child and for 5 years at the birth of the third child. There is a summation of the terms. That is, the deadline for the preferential interest rate will not exceed 8 years.
After the end of the grace period, a rate equal to the CBR's key rate at the time of loan issuance plus 2 percentage points is set.
Another condition of the program is the actual ban on the use of preferential mortgages for the purchase of second homes. That is, a children's mortgage can be directed only at purchasing a home in a new building or refinancing an existing loan for the purchase of housing in a new building. This item immediately cuts off a large number of Russians who do not trust housing from developers.
The next limitation is the loan amount. For Moscow, St. Petersburg, Moscow and Leningrad regions, the loan amount should not exceed 7 million rubles. For other regions - 3 million rubles. At the same time the borrower's own funds should be at least 20% of the transaction amount and may include various kinds of subsidies. Thus, immediately cut off apartments, the cost of which is above average, plus the borrowers are cut off, planning to purchase housing with a minimum down payment or without it.
Under the program of children's mortgages, the limit for the issuance of funds is set at 600 billion rubles, which, given the existing statistics on the birth rate and mortgage lending, makes it possible to talk about the reality of the number of such soft loans of 300,000 rubles.
In fact, a very modest result was obtained in the form of only 8 credits. For the sake of justice it is worth noting that experts, evaluating this program, said that its results can be talked only in the summer of 2018. However, the discrepancy between the pace and expectations can be said now.
Why the program does not work
This program was adopted so quickly that in the end the non-working text was approved. On November 28, 2017, Russian President Vladimir Putin, within the framework of the meeting of the Coordinating Council for the Implementation of the National Strategy for Children for the period from 2012 to 2017, offered a children's mortgage as one of the measures to strengthen the demographic policy. On December 2, 2017, the president approved a number of assignments following the meeting of the Coordination Council. One of the assignments concerned the children's mortgage. The commission was very laconic and reflected only the idea of creating a program, which put the developers in difficult conditions: they had to fulfill the president's instruction, but at the same time to provide for economical spending of budget funds.
As a result, on December 30, the children's mortgage rules were approved, and on February 19, 2018, the participants learned about the credit limits. By this time DOM.RF has already managed to issue the first loans.
A detailed description of all the flaws in the program will take no pages, which can cause resentment from the readers, so we will analyze only the key points.
First, the rules do not specify all possible changes in the civil status of parents and children. So, in real life, many things are possible: changing citizenship, divorce, repeated marriages, the birth of twins, triplets, etc. The simplest situation is that the family has a triplet. It would seem that in this situation it is necessary to grant a privilege immediately for 8 years, however, based on the current edition of the rules, this does not at all.
Secondly, the system of punishments. Banks during the period of consumer lending have established a lending policy that provides for harsh conditions in case of breach of the contract, as well as benefits in the timely execution of the contract. The program of children's mortgages, providing for the payment of a loan subsidy at a rate of 6% or non-payment of such a subsidy, puts an end to any maneuvers of the bank in the event of a delay in payment and other situations.
Third, the state of the collateral. In reality, there are many states of the collateral. So still unfinished apartment can be resold many times. The rules do not specify what to do with such situations. Even more ambiguity about refinancing.
Fourth, the time. There is a time gap between the stages of lending, registration actions, obtaining information about the birth of children. This point is also not included in the rules.
Fifthly, the issue of the diversity of rights and duties of parents and children has not been resolved.
Sixthly, the use of various social programs, the regulations of which do not coincide, is not clearly spelled out. The rules made a formal attempt to prescribe the use of parent capital. However, with bureaucratic delays in trying to "knock out" the maternity capital of the Pension Fund, an indistinct indication of the possibility and ways of using maternity capital can disrupt the deal.
The list can be continued, but the conclusion from this will not change. The existing version of the rules will not meet any expectations, so the rules need to be changed.