### Russia to Tighten Family Mortgage Conditions: Interest Rate Benefits to Be Shortened
Starting July 1, Russia will tighten the conditions for family mortgages, with one of the key changes being a reduction in the duration of the preferential interest rate, according to a report by Izvestia (a leading Russian newspaper).
The new rules propose to cut the period of the preferential interest rate from the current 26 years to 15 years. The proposed amendments are currently undergoing approval by federal government bodies.
Previously, it was announced that the interest rate for family mortgages could decrease as the family expands, meaning the loan terms would be adjusted with the birth of each child.