The state Duma approved the law on mortgage vacation

Госдума одобрила закон об ипотечных каникулах

The state Duma adopted in the third final reading the law on mortgage holiday, introduced by a group of deputies and senators, headed by Chairman of the state Duma Vyacheslav Volodin and the Chairman of the Federation Council Valentina Matviyenko, reports TASS.

“Mortgage holiday” for up to six months may be granted at the request of the borrower, in difficult life situations (loss of a breadwinner, temporary incapacity within two months, the recognition of the disabled of group I or II, the decline in family income of the spouses more than 30%). The size of the monthly payments on the loan for registration of “mortgage holidays” to exceed 50% of average monthly income of the borrower.At the borrower’s option may be suspended execution of obligations on the loan or reduced the amount of periodic payments. This right can be exercised only once in respect of one loan. The repayment period of the loan will be automatically extended for the period of the “mortgage holidays”.

The law will come into force from the date of publication. Rules will be distributed to those who already have mortgages, and those who will execute them after the law came into force.

“The measures contained in the bill aimed at establishing additional guarantees of protection of property interests of the citizens appeared in a difficult life situation, and to reduce the financial burden on citizens in the servicing of mortgage housing loans in case of restructuring”, – stated in the explanatory Memorandum.

“Mortgage holidays” will be provided by loans, the size of which does not exceed 15 million rubles. Provision is made for introducing in the future, the maximum size of a loan, which it will be possible to “mortgage holidays”, the decision of the government of the Russian Federation taking into account regional peculiarities.

The norm about obligatory notarial assurance of contracts of mortgage lending of housing in the shared ownership of the legislation is excluded. Such decision was accepted in the first reading of the bill, and then was adopted abolishing the rule amendment, but then the deputies returned to the wording of the first reading. “Return to the wording of the first reading,” – said the head of the Duma Committee on financial market Anatoly Aksakov, speaking about the norm.

Recall, the Federal project “mortgage” included in the national project “Housing and the urban environment”. One of its targets is to achieve average rates on mortgages at 7.9% per annum, while the number of loans to buy housing on the primary market in 2024 should be 1.13 million In the project to develop the market for mortgage-backed securities, housing loans translate into electronic form, to develop a new system of housing Finance.