OREANDA-NEWS. On the instruction of the Government of the Russian Federation, the Ministry of Construction, Housing and Utilities of the Russian Federation is developing a set of measures aimed at stabilizing the situation in the mortgage market. According to the communication of the Ministry, this was reported by the head of the Ministry of Construction of Russia Mikhail Men on December 22 .

According to Mikhail Men, it was decided to merge AHML and the RHD Foundation under the control of a single management company. "Their resources will be combined to optimize the work in the field of housing construction and mortgage programmes," - said the Minister.

Also, the Ministry of Construction of Russia is developing possibilities to expand programmes funded at decreased rates. "A typical example is the "Military Mortgage" under which loans are granted at the rate of 10.75%. We are considering the possibility of expanding such programmes and their extension to other categories of citizens," - said Mikhail Men. He reminded that today almost every third apartment in the country is acquired using mortgage programmes.

In addition, an option is considered today of obtaining a banking license (or banking structure) by AHML or the joint institution to raise additional funds for the development of mortgage lending. "Most importantly, the joint institution will be additionally capitalized, and among other things we will consider the possibility to redistribute the funds of the "Housing" programme as well as other sources", - said Mikhail Men.

However, the Ministry of Construction of Russia proposes to include the "Russian Family Housing" programme and the construction of rented housing into the project financing from the Central Bank at the rate of 9%.