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The penalty for late payment on the mortgage want to reduce

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In Russia may limit the size of the fine for violation of the terms of repayment of mortgage loans. The proposal was made by the deputies of the state Duma. According to representatives of the RF Government, the penalty must be reduced.

Now banks are free to establish the amount of damages. Because MPs propose to limit the size of the penalty is 20% per annum or 0.1 %, and if interest on the loan amount for the period of violation does not accrue.

The Cabinet of Ministers supported the draft law the state Duma on the question of limiting the amount of fines, but with the caveat that the maximum fine should be reduced, reports IA “SeverInform” with reference to the official website of the Government of the Russian Federation.

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