From 15 April 2018 US will launch a new social project – the mortgage for the acquisition and construction of wooden houses. The bill was signed in March Dmitry Medvedev, the head of the USn government. A month later, the law came into force. Now it starts in practice. The legislative act stipulates the key terms. Even at the stage of discussion questions and disagreements about new legislative initiatives. Ask them as potential borrowers and participants in benefit programs. And they require answers.
About the law
Preferential mortgage on a wooden house in US is already running. The pilot project will last until only 8 months of 2018. From 15 April to 30 November, the USns get the opportunity to purchase a full house of wood on favorable terms. This means that the whole process should be completed, agreements were concluded and signed before the end of November 2018. The program allocated almost 200 million rubles, which theoretically allows you to buy 2.5 thousand households. If the project is successful, then there is the option of renewal for the coming years (2019 – 2021).
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The main conditions of participation in the discount program are:
- the purchase of homes worth up to RUB 3.5 million (the remaining amount, if necessary, paid by the borrower);
- contracts are only concluded with participants: with the banks that signed the agreement with the government, and developers, whose income last year amounted to no less than 200 million rubles;
- the contractor must perform the contract within 4 months;
- the borrower is to pay not less than 10% of the loan amount;
- the parcel must be owned or long-term lease exceeding the term of the loan agreement.
These are the basic conditions for obtaining a 5% discount on the loan. If they perform, then approved by the Bank interest rate on the mortgage for the construction (purchase) of a country wooden house will be partially compensated. So, if the key rate is 15%, the borrower will pay only 10%, the remaining 5% will be returned to the Bank from the budget allocated for the social program.
Law stipulates the basic rules for participation in the preferential lending is not canceled Bank requirements to the borrower. It needs:
- to meet the Bank’s criteria (age, financial status, availability of funds for the first installment, collateral and other conditions);
- to own a plot of land for construction or to enter into a contract with the contractor, have such land and the right to development;
- work with trusted companies relevant to law (experts currently account for only 15 of such contractors);
- the house must meet safety requirements, suitable for year round living, constructed on capital Foundation with a deep;
- Communication needs to be done (or outlined).
The relevance of legislative initiative
A new draft law on preferential mortgage lending for wood household able to solve multiple issues:
- to stimulate lending and country construction due to the appearance of specific banking products;
- to enable the USns to buy cheaper housing, and eco-friendly, spacious and high quality: the average house size is 120-130 m2, the cost per square depends on the type of building materials, the budget options – in the range of -25 13 thousand rubles. per square meter;
- to reduce the interest rate that will make housing loans available to people with low income;
- stimulate multiple industries: woodworking, manufacturers of ready-made housing, developers, the banking sector.
The goal is quite reachable. Stimulation of production will lead to new jobs and increased production volumes (at present, the production capacities are loaded by approximately 50%). The benchmark for the domestic market always stimulates the economy. The problem of affordable housing remains one of the most important.
The fact is that US, a country with rich natural resources, is almost the last place in the ranking of construction of houses made of wood. While in other countries the ratio of environmentally friendly houses made of wood and other materials is approximately 50%/50%, in US it is according to the Ministry of industry and trade is only 12%. For comparison: in Finland 90% of houses are made of wood.
Criticism and objections
As always, when new legislative initiatives, not without doubts and objections. Some believe that the law on social wooden the mortgage needs to be expanded. Appeared the first comments of experts from different fields:
- the developers believe that the level of annual income is too high, it limits the number of program participants;
- banks are interested in what will happen to the rate after November 2018, and how to protect yourself in case of a fire, because the risk of burning wooden buildings are quite high (in comparison with other materials);
- some builders do offer the sale of objects on the system of credit installment, their terms may be more attractive to potential borrowers;
- for registration you will need to sign too many contracts, to collect more than usual, documents, paper “red tape” can deter potential borrowers.
These are the basic questions raised by the experts, but they note that the program itself is useful. For ordinary citizens, this method of acquisition of housing can be an alternative to more expensive apartments. Especially if the registration process is maximally simplified.