Home buyers in Russia will give the opportunity to make repairs

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www.vsyako.netPhoto: Pavel Lisitsyn / RIA Novosti

The members of the Federation Council and state Duma deputies from the LDPR faction on Tuesday, November 26, presented to the lower house of Parliament a bill providing for the payment of interest on money in escrow accounts. It is reported TASS with reference to the electronic database of the state Duma.

It is assumed that buyers of new housing making money for the apartment in such accounts of developers, will receive additional income in the form of accrued interest. After completion of construction, the investors will be able to spend the “surplus” for any purpose, including repair of the apartment and to buy furniture.

According to the document, the income interest will continue to accrue at the weighted average interest rate on a monthly basis and transferred to a separate account until needed.

Scheme with escrow accounts operates in the Russian market from 1 July of the current year. Developers are now actually forbidden to Finance the work with funds of shareholders (exceptions are made for residential complexes in the high stage of readiness). The money of home buyers are now stored in escrow accounts which are not available for companies to enter the house in operation.

Video, photo All from Russia.

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