In Russia, banks are required to disclose information about the full cost of the mortgage

“Often, banks do not include insurance in it (cost. -

), but the borrower still bears such expenses.

Full disclosure of all services will show people the real cost of a loan, and banks will have to compete more openly with each other in order to attract borrowers, ”TASS quotes him.

Anton Orlov, director of the Institute for the Study of Contemporary Politics, has previously proposed abolishing mortgage delinquency penalties by the end of this year. 

The head of the State Duma committee on the financial market, Anatoly Aksakov, said that the preferential mortgage program could be extended in the summer of 2022, while maintaining the rate of 12%.