President Vladimir Putin signed a law specifying the goals of a mortgage loan under the state program for co-financing mortgages for large families in the amount of 450 thousand rubles. IN document, published on Friday, April 30, on the legal information portal, says it can now be used to build a home or buy an unfinished home.
Since September 2019, a program to support large families has been in effect in Russia, according to which they can receive a payment of 450 thousand rubles to pay off the mortgage. The state program is aimed at families in which the third child and subsequent children were born from January 1, 2019 to December 31, 2022.
According to the new law, parents with many children will be able to use these funds not only for the purchase or construction of individual housing, but also for the acquisition of an object under construction under an agreement on participation in shared construction, as well as for repairs or as a share contribution of a member of a housing construction cooperative.
It will also be possible to get state support for loans, the purpose of which is to purchase residential premises with repairs or inseparable improvements.
The law contains a list of possible creditors under contracts, for the full or partial repayment of which funds are directed within the framework of state support measures. The creditor can be a credit institution, a unified development institution in the housing sector, an organization that provides mortgage loans, a mortgage agent, as well as an institution created by a government decision to provide an accumulative mortgage system for housing security for military personnel.
On March 7, Russian Prime Minister Mikhail Mishustin signed a decree simplifying the procedure for using maternity capital to improve housing conditions. Russians now do not need to submit documents to the Pension Fund on the work performed to improve housing conditions, it is enough to have an extract from Rosreestr that the land plot and the house built on it are owned by a citizen.
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source https://pledgetimes.com/putin-signed-a-law-to-expand-mortgage-benefits-for-large-families/
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