Rural mortgage: the first results, problems and ways to increase financial accessibility for rural residents

Abstract

Abstract. The purpose. Analysis of the results and problems of the implementation of the Rural Mortgage Program, as well as a scientific substantiation of the need for its improvement in order to increase the financial accessibility of mortgage loans for rural residents and improve housing conditions on the village. Methods. The theoretical and methodological basis of the study was the scientific works of domestic and foreign scientists on issues of preferential mortgage lending, financial inclusion and the development of rural territories. The study was carried out using general scientific methods for analyzing and synthesis, induction and deduction, statistical and economic method. Results. An analysis of the implementation of preferential mortgage lending under the Rural Mortgage Program, which informed the high demand for this program among the population. A high concentration (more than 75%) issued preferential mortgage loans in three federal districts – Central, Volga and Siberian was revealed. It has been established that the level of approved applications of citizens on preferential loans is not high, the main reasons for the provision of a loan have become problems with purchased property, negative credit history or low creditworthiness of borrowers, due to the poverty of rural households. According to the data in 2020 in each third region of Russia, citizens who received a preferential rural mortgage more than rural residents, which confirms its low accessibility for the village. Scientific novelty. According to the results of scientific research on the basis of identified problems, the directions of the rural mortgage program were reasoned, taking into account the key factors of increasing the financial accessibility of mortgage loans for priority categories of rural population, young and large families, as well as the level of regional development of rural areas.