Russian Senate approves mortgage relief law for families with second and subsequent children

© изображение сгенерировал ИИ

Members of the Federation Council approved amendments to the law "On Consumer Credit (Loan)" during a plenary session, introducing a provision that allows borrowers to suspend their obligations under a loan agreement or reduce payment amounts upon the birth or adoption of a second child or subsequent children.

Mortgage holidays will be granted until the child reaches the age of one and a half years. Families will be able to use this option once during the term of the credit agreement.

After being signed by the President, the law will come into effect on September 1, 2026, and will apply to agreements, including those concluded before this date.