Despite the fact that the ability to repay a mortgage loan at the expense of maternity capital is in great demand in Russia, this method of payment may cause a number of problems, said Andrey Romanov, executive director of the Financial Service credit center, expert of the Association for the Development of Financial Literacy.
So, problems can arise when trying to refinance a home loan on more attractive terms,
After repayment of the mortgage loan by the parent capital, problems may arise with refinancing this loan in another bank, since not all banks agree to refinance such loans, - said the expert.
Another problem may arise when selling real estate purchased with a mortgage, since certain conditions must be met when repaying a loan at the expense of the mother capital.
The fact is that, according to current legislation, a child, when paying off a mortgage with maternity capital, must be endowed with ownership of a real estate object, and selling real estate with a minor owner is always very difficult- explained Romanov.
In 2020, the size of the mother capital for the first child is 466,617 rubles, with the birth of the second child another 150,000 rubles will be paid. For families in which the second child was born in 2020, the size of the mother capital will be 616,617 rubles.
As chernayakobra.ru wrote earlier, maternity capital in Russia can be allowed to be used to pay for housing repairs; the relevant proposal is ready to support the State Duma's specialized committee on housing policy and housing and communal services and in all parliamentary factions.