Conditions of family mortgage in St. Petersburg may be revised from October

From next month, the conditions for issuing a family mortgage may undergo serious changes. Possible innovations are most likely to affect buyers of small housing and borrowers with modest incomes, reported in Neva.Today.

Now preferential housing loans for families are available at 6% per annum, and the limit for the St. Petersburg region is set at 12 million rubles. However, the government is working on new scenarios for the development of the program, including the direct dependence of the financing terms on the number of children the borrower has.

In particular, for parents with one child living in St. Petersburg and the Leningrad region, the interest rate can be raised to 12%. At the same time, for large citizens, preferences are planned to remain in the same volume.

Another reform under discussion concerns the limitation of the grace period itself. Experts assume that the rate of 6% will be fixed only for the first 15 years of the contract. After this period, monthly contributions will be tied to the key rate of the Central Bank. Experts emphasize that such measures will inevitably lead to a significant increase in the cost of regular payments.

By the way, in the real estate market of the Northern capital already recorded cooling of purchasing activity. If at the end of summer last year in the city issued 3345 contracts for the sale of housing, by August 2026, this figure fell to 2,230 transactions.