FAS DEVELOPED A DRAFT LAW ON SIMPLIFYING THE REFINANCING OF MORTGAGE LOANS
Adoption of this Law will make it easier for citizens to switch to housing loan-servicing in another bank and reduce the time for obtaining the necessary documents for this
The Antimonopoly Service has taken the appropriate initiative in connection with the growing number of complaints from citizens that banks are delaying the submission of documents that are needed to repay mortgage loans.
The FAS Russia proposes to fix at the legislative level the terms in which banks will be required to issue documents to citizens necessary for full early repayment of mortgage obligations.
In particular, the draft law proposes to set a period of no more than 5 calendar days for providing the borrower with information about the amount of debt on the planned repayment date of the mortgage loan.
The draft law also plans to define a period of no more than 10 working days for providing encumbrance to the borrower on loans secured by mortgages of residential buildings and apartments.
Besides, the agency proposes to regulate the deadline for the pledgee to send the documents necessary for the repayment of the mortgage registration record to the rights registration authority. It is assumed that it will be no more than 10 working days.
A working group was created to study the provisions of the draft law, which included representatives of the banking community and agencies. The final version of the document was supported by representatives of banking associations.
At the moment, the document has been sent for approval to the Ministry of Finance, the Central Bank and the Rosreestr.