Family mortgage rules to change in Russia from October

Key updates include linking the preferential loan rate to the number of children and differentiating maximum loan amounts based on the borrower's region. A maximum subsidy period of 15 years is also introduced.

For regions outside Moscow, St. Petersburg, and their oblasts:
✔️ 10% for families with one child under seven; max loan 6 million rubles.
✔️ 8% and 8 million rubles for families with two children (at least one under seven).
✔️ 6%, 4%, or 2% and 10 million rubles for families with three, four, or five children respectively.

In capital regions, rates are 2 percentage points higher, ranging from 12% to 4%.

If you live in the West, remember you need to look at real interest rates. Nominal interest rate - inflation. So 10% - 6.1% inflation = 3.9% real interest rate. These are very good deals considering the central bank rate is currently 14%. Many of us are overly focused on nominal because we grew up in countries where there was little inflation for long periods.

@Slavyangrad