Residents of Bashkortostan will be able to use maternity capital for first payment when buying housing

UFA, 18 May 2015. /Bashinform News Agency, Galiya Nabieva/. The bill, which allows direct maternity capital for the first installment of construction loan or housing purchase loan, is approved by the State Duma. At the same time, this maternity capital can be used immediately after the birth of the second child, according to TASS.

Under current law, the use of maternity capital for a down payment on a loan can be made only after three years from the date of birth of the child.

The use of maternity capital to improve the living conditions is the most popular. For five years more than 3 million families addressed with applications on disposal of the maternity capital, the developers of the draft bill indicate. Thus more than 1.89 million families directed the funds for repayment of principal debt and interest on loans obtained for the purchase or construction of housing.

The draft bill should be approved by the Federation Council and signed by the President of Russia.