MOSCOW, April 3 (RAPSI) – Several members of the upper house of parliament have drafted amendments to a bill on mortgage holidays for Russian citizens found themselves in a tough life situation.
Amendments have been prepared to the second reading of the bill in the State Duma, a statement of the Federation Council reads.
According to the adjustments’ authors, Nikolay Zhuravlev, Eugeny Bushmin and Sergey Ryabukhin, the bill would be amended by an exhaustive list of documents required for the approval of mortgage holidays. This provision would eliminate the risk of banks’ malpractice in reaching the decision on granting a grace period to borrowers.
Moreover, the proposed amendments envisage fixing a high credit allowing credit users to request mortgage holidays.
The mortgage holidays bill passed its first reading in the State Duma on March 21.
Under the initiative, mortgage holidays with a running time of up to six months may be granted to loan recipients found themselves in a difficult life situation including loss of breadwinner, temporary disability over a period of two months, certification as disabled persons of groups I and II, reduction in family income by more than 30%.
A loan debtor would be able to choose whether to withhold performance of debt service obligations or to decrease the sum of periodical payments. However, a person would be allowed to take such a privilege only once in terms of one credit. The loan maturity would be extended tacitly for the mortgage holidays’ duration period, the draft law reads.
According to the State Duma Chairman Vyacheslav Volodin, the proposed provisions would be applied both to people, who took a real estate loan earlier, and those, who would take out a mortgage after the entry of this legislation into force.