Realtor Pavlyuk recommended developers’ programs when buying an apartment
Even in conditions of extremely high mortgage rates, Russians still have ways to buy an apartment profitably; realtor Ilya Pavlyuk told Lenta.ru about them. In particular, he spoke about programs from developers and special conditions from banks.
“When buying an apartment from a developer, there are installment plans. The first payment is not much different from what is required for a mortgage – 20-30 percent. This way, you can reduce the amount of payments on the remaining amount, and then either pay off the remaining debt or switch to a mortgage,” Pavlyuk said.
Also, as the realtor reminded, there are special housing acquisition programs for employees of healthcare institutions, law enforcement agencies, participants in special military operations (SMO), and residents of a number of Russian regions.
Often, preferential programs apply only to new housing, but, according to Pavlyuk, there are ways to save money when taking out a mortgage on a secondary property.
“Now almost all banks have developed services to reduce the rate. For example, you can get up to a 9 percent discount from the market rate in a number of partner banks. In addition, many banks have begun to include in loan agreements a clause on a guaranteed revision of the loan rate, when the Central Bank’s key rate decreases,” the realtor added.
Earlier, the head of the Central Bank of Russia Elvira Nabiullina stated that predictably low inflation in the long term will allow for a reduction in rates on market mortgages.
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