The corresponding message is published on the website of the Central Bank.
“At the same time, citizens will be freed from the need to independently and at their own expense insure the risks inherent in a mortgage,” the Bank of Russia said.
The concept proposes that lenders carry out insurance at their own expense. It is noted that the bank will not be entitled to demand from the borrower the payment or reimbursement of the insurance premium or the conclusion of another insurance contract.
The Central Bank plans to hold a discussion of the concept with the banking and insurance communities in the near future.
Earlier, Russian Prime Minister Mikhail Mishustin signed a decree on a program of preferential mortgages at 6.5% per annum. The program will be valid until November 1, 2020.