Parliamentian Suggests Lowering Home Mortgage Rates for Offspring
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Banking on Families: Making Housing More Affordable for Large Families and Incentivizing Population Growth
Leonid Slutsky, leader of the LDPR party, has taken it upon himself to crusade for families in need of housing support, specifically large families. In a heartfelt appeal to Prime Minister Mikhail Mishustin, Slutsky expressed his concerns about the current family mortgage program's limitations, even with a manageable 6% interest rate and an initial deposit of 20%.
"Securing a mortgage for a family with multiple children is a tall order, despite the exiting benefits and maternity capital," Slutsky highlighted in the appeal, which TASS obtained. His proposal involves tailoring interest rates based on the number of children families have:
- 6% for families with one child,
- 3% for families with two children, and
- 0% for families with three or more children.
Slutsky maintains that such measures would act as a powerful incentive for families to welcome additional children, while also addressing the larger issue of housing affordability for these families.
"We are striving to boost the Russian population, and we are witnessing some promising trends, with the number of large families increasing from 2.4 to 2.65 million last year," Slutsky shared with TASS, describing his ideas as strategic maneuvers.
Furthermore, Slutsky advocated for promoting low-rise construction that brings with it developed social infrastructure. In his opinion, only a combination of these initiatives will result in more affordable housing options for families with children, ultimately having a positive domino effect on the demographic situation.
Slutsky's call-to-action aspires to realize the national demographic development goals outlined by the President of Russia. The government has not yet commented on the proposition.
Business Incentives for Developing Family-Friendly Policies?
Exciting times lie ahead for families in Russia, with a number of current and proposed changes to the family mortgage system, particularly when it comes to benefits and interest rates tied to family size and specific groups like veterans.
- A proposal to increase the mortgage repayment limit for large families from the existing amount to 900,000 rubles is in the works. This move could potentially double the assistance provided to larger families and may be incorporated into next year's budget (2026). Additionally, new incentives for family investments, including tax deductions up to 130,000 rubles for couples, are anticipated for 2026[1].
- There is also discussion surrounding utilizing maternity capital - currently significant, totaling over 600,000 rubles per child and nearly 1 million rubles following the birth of the second child-to invest in financial instruments with the potential to generate income. A bill to make this possible is expected to be introduced this year[1].
- Families of Russian veterans with children have already been granted a preferential mortgage interest rate of 6% per annum, thanks to a decree enacted in May 2025. This advantage is part of a broader package of social benefits allocated to veterans and their families, which also includes heightened allowances and housing support initiatives[2].
- Participants in the special military operation (NWT participants) and their spouses can expect a preferential mortgage program offering a significantly lower interest rate of 2% per annum, set to launch this summer. Part of the program requires a down payment equivalent to 20% of the housing cost and loan limits aligned with the family mortgage program limits: up to 12 million rubles for Moscow and nearby regions and 6 million rubles for other regions. The program aims to support military families and bolster the housing market[4].
The trend is becoming increasingly clear: families, particularly those with children and veterans, are set to enjoy expanded financial and housing support. This is evident through increased mortgage limits, reduced interest rates, and new investment possibilities using family capital[1][2][4].
- The proposed changes in the family mortgage system in Russia, such as increasing the mortgage repayment limit for large families and offering tax deductions for family investments, indicate a shift towards providing more business incentives for developing family-friendly policies.
- Politicians like Leonid Slutsky in Russia are advocating for lower interest rates for families with more children as part of a broader strategy to boost the Russian population and improve housing affordability, demonstrating the intersection of finance, business, politics, and general news in these discussions.
