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Transition to preferential mortgages with matkapital will be simplified in Russia
Amendments to certain legislative acts to simplify the transition to a mortgage with more favorable conditions for families with children have been submitted to the State Duma. If the bill is passed, families will be able to reduce the cost of servicing a housing loan.
As the author of the bill, Deputy Chairman of the State Duma Irina Yarovaya, noted, it’s very difficult for families with children to re-credit on more favorable terms, because you need to obtain the consent of the guardianship authorities to transfer the mortgage acquired at the expense of the capital as a security, as well as register the property as a common property families at the stage of changing the lender. According to the State Duma press service, the bill will remove these restrictions - the relationship between the borrower and the lenders becomes lasting and is considered completed only after the loan has been fully paid.
The bill also establishes a mechanism for protecting the interests of children in endowing them with property shares at the final repayment of the loan and a mechanism for protecting buyers of apartments purchased from citizens who used matkapital when paying off mortgages.