Russia extends mortgage holidays to larger loans to support borrowers

The Russian government has decided to extend payment holidays to larger mortgage loans in a new measure to support its citizens from the coronavirus fallout, the Prime Minister Mikhail Mishustin said on Friday.

The government had previously said that people with mortgages of up to 1.5 million roubles could claim for payment holidays.

Mushustin on Friday approved an increase in the maximum loan value to 4.5 million roubles for Moscow, to 3 million roubles for St Petersburg and the far east of the country, and to 2 million roubles for the rest of the country.