MOSCOW, June 15 (RAPSI) – The government of Russia has supported a bill by Deputy Chair of State Duma Irina Yarovaya aimed to make it easier for families to swap their mortgages using federal subsidies for births of children for those on better terms.

The information has been published by the press service of the lower house of Russia’s parliament with a link to an official statement of the government.

The bill, Yarovaya notes, is aimed to ensure that families with children eligible for state social welfare services could improve their living conditions and lower their expenses for credit servicing. The bill was introduced to the State Duma yet in January.

Analyzing the situation, the Council of Lawmakers, the Central Bank and relevant ministries, the Deputy Chair of the lower house of Russia’s parliament says, have arrived to the conclusion that at present families face problems when swapping their mortgages using maternity capital for those on easier terms because of requirements to produce a number of documents, which Yarovaya believes are redundant. 

The document also sets up a mechanism protecting interests of children as concerns the shares in properties after their parents finally repay credits, as well as a mechanism protecting interests of bona fide buyers of flats of citizens using their maternal capitals to repay mortgages by entering information on the use thereof in titles of ownership. Yarovaya believes these measures to protect interests of minors and at the same time to exclude wrongdoings in the course of deals with properties.