Maternity capital is an amazing opportunity for a large family to acquire their own housing. This state program allows legally acquiring suitable real estate using the much-expected financial support from the state. But is it possible to repay maternity capital consumer credit?
What does the letter of the law mean?
According to the current legislation of the Russian Federation, the capital is regulated by several laws at once. So, this material assistance from the state is issued on the basis of Federal Law No. 265- “On Additional Measures of State Support for Families with Children”, according to the Decree of December 29, 06, which states the rules for channeling family capital funds to improve housing conditions. The use of social assistance is controlled by Article 10 265-FZ.
Having studied all of the above laws and regulations, it is realistic to determine whether it is possible to pay off consumer credit with maternity capital. And for this it is necessary to know how and where municipal funds can be spent.
What to spend social assistance on?
Based on legislative acts and government regulations, maternity capital (its full amount or part) can be spent on the following purposes:
- for the purchase of finished or under construction housing;
- to fulfill obligations aimed at changing housing conditions in the direction of their improvement.
In this case, the capital can be used as collateral or a down payment on mortgage and other housing loans. However, your chosen housing should not only suit you in all respects, but also be located on the territory, and not outside the Russian Federation.
A transaction is being drawn up for the purchase of an apartment or other real estate in the common property of children, parents and other family members living on the same living space. As you can see, there is no information on whether it is possible to repay maternity capital consumer loans.
What else can you spend cash assistance from the state?
It is possible to spend part of the money or the whole amount at once with the aim of a possible increase in the labor pension, namely its funded part (for the mother of the child). As payment by bank transfer on account of the acquisition of housing for a Russian family with a certificate of family capital.
Mothercapital can also pay for educational services for children under 25 years of age. On whether it is possible to repay a consumer loan by maternity capital, we will describe further.
When is the use of mothercapital allowed?
Based on the rules, it is possible to use the money provided by the capital only after the child (for whom the certificate is issued) is 3 years old. If your family has already been issued a mortgage or other housing loan (long before you officially received the certificate), then there is no need to wait until the child reaches the above number of years.
In this case, to repay the loan or part of it is allowed immediately after issuing the certificate to the hands. At the same time, the less the cost of housing on credit will be, the easier it will be to repay the main loan amount and interest at a time. But how to repay maternity capital consumer loans? And is it possible to fulfill this intention?
What can not be spent on capital?
State aid cannot be spent on personal needs not related to the acquisition of housing and the improvement of the living conditions of children and their parents. And, strictly speaking, the State Pension Fund will not let you do this. Social assistance cannot be spent on the following needs:
- for the acquisition of land;
- to pay for consumer loans issued for the purchase of household appliances and other goods;
- to pay off debts to public utilities ;
- for reconstruction of a residential building or repair in the premises where the family lives;
- for the purchase of construction equipment and materials necessary for repair work.
You can not use material assistance to pay for treatment and it is not allowed to take the prescribed amount in cash. At the same time, neither the law nor the government regulations governing the issuance of state aid mention whether it is possible to repay consumer loans by maternity capital in Sberbank or some other financial institution. For an answer to this question, you should contact the representatives of the Pension Fund.
What do Pension Funds say about loans?
If you turn to the representatives of the State Pension Funds (at the place of residence) on the above question, they will answer you the following: according to the current legislation, you cannot spend money credited to the fund’s account to pay for a consumer loan. This is due to the fact that, as a rule, consumer loans are not issued for specific purposes. Most often, these are bank loans for so-called personal needs.
We will repeat. You can spend the capital exclusively on paying off targeted loans. Those. it can only be a mortgage loan for finished or under construction housing. In addition, matkapital can be used instead of the first installment of a housing bank loan. Consumer loans are not related to targeted housing loans, so repayment using maternity capital is prohibited. But how to repay a consumer loan with maternity capital at Sberbank or any other bank, if, without knowing this, you nevertheless issued a similar loan?
What to do if a consumer loan was taken and spent on a home purchase?
It so happens that, without understanding the law, parents recklessly take a consumer loan to buy an apartment in the hope of paying it off with help. However, upon learning that this cannot be done, they fall into despair. After the birth of the second child, when only one of the adults is working, some are thinking about how to pay off consumer loans with maternity capital in order to save.
There is a problem with paying loans with capital. It is very difficult for the Pension Fund to prove anything, so you have to go to court. When applying, one should refer to one of the clauses of Article 10 265 of the Federal Law, which says something like the following: maternity capital is allowed to be involved in any transactions related to the acquisition of housing. The main condition is that they must not contradict the law.
Documents must be presented to the court confirming that the loan money was spent on the purchase of housing and it was designed taking into account all family members, including children. Those. the interests of the kids were also taken into account.
How do civil service trials end?
The disputed situation with the Pension Fund can only be resolved by a court decision, and a favorable outcome of the proceedings is most likely an exception to the rule, and it is not recommended to act on this scheme intentionally.
Therefore, if you still do not know how to pay off consumer credit with maternity capital and save money, you should not do it in a hurry. First consult with specialists of the Pension Fund. Weigh the pros and cons.
Summary: The use of social assistance should not go beyond the law. Otherwise, you run the risk of incurring unjustified debts, spend a lot of nerves and energy trying to prove your case.