07 May 2014, Wednesday, 17:26

It is allowed to pay mortgage interest by maternity capital

author: Elvira Latypova

It is now possible to pay principal amount of housing loans and pay interest on them with maternity capital funds. The appropriate Government Decree RF "On amendments to the regulations of the maternity (family) capital funds (part of the funds) usage for improving housing conditions" is published on the website of the Government of Russia on Wednesday.

The document stipulates that a loan agreement can be concluded with a credit, microfinance organization, consumer credit cooperative or "other organization engaged in loans granting under loan agreements, pursuant to which the obligations performance is secured by mortgage".