Posted 5 апреля 2023,, 10:16

Published 5 апреля 2023,, 10:16

Modified 5 апреля 2023,, 11:01

Updated 5 апреля 2023,, 11:01

Victims of an emergency in Russia will be able to take advantage of mortgage holidays

Victims of an emergency in Russia will be able to take advantage of mortgage holidays

5 апреля 2023, 10:16
The deputies of the State Duma adopted a law on the provision of mortgage holidays for citizens affected by natural or man-made emergencies.

"The new law also allows borrowers who lived in residential premises in an emergency zone and suffered from an emergency situation to apply for mortgage holidays. To receive them, the borrower must contact the lender within 60 days from the moment of establishing the facts of violation of his living conditions and loss of property as a result of an emergency", - RIA Novosti reports.

The law applies to victims of emergencies of a federal, interregional, regional, inter-municipal and municipal nature. Natural disasters in Russia include floods, fires, avalanches, earthquakes, volcanic eruptions and other natural disasters. Man-made emergencies include accidents and catastrophes in transport, industrial enterprises, hydraulic structures, power plants, as well as accidents with the release of radioactive, chemical or biologically hazardous substances.

It is noted that the adopted law should come into force 10 days after the official publication. The initiative was created in order to reduce the debt burden on citizens on mortgage obligations for the purchase of housing lost as a result of an emergency.

Until now, those who have taken out a mortgage can get credit holidays for up to six months only in some cases. During this period, payments may not be made in full or in part. Such an opportunity is provided in case of temporary disability for a period of more than two months in a row, a drop in the average monthly income by more than 30%, disability of group I or II, as well as in case of loss of work and registration as unemployed.