Mortgage Holidays for Families with Children Changed: Deputy's Announcement

This was announced by a State Duma deputy, a member of the committee on small and medium entrepreneurship, Alexey Govyrin, as reported by NEWS.ru. Instead of the current six months, mortgage holidays could be extended to up to one and a half years, with part of the interest payments to be repaid later in equal installments.

According to the proposed changes, mortgage holidays will be increased from six months to one and a half years. This means that families expecting a second or subsequent child, or who have already welcomed a baby into their family, are given the opportunity to defer interest payments for a period until the child reaches the age of one and a half years. Furthermore, the criterion of a decrease in income will not be applied. "<…> These changes are an important step within the comprehensive strategy aimed at improving the socio-economic situation of families with children," the parliamentarian noted.