Changes in the mechanism of financing the construction of residential housing were discussed in the Ministry of Construction of the Republic of Tatarstan

Today, the Ministry of Construction, Architecture and Housing of the Republic of Tatarstan hosted a meeting of developers of individual housing construction and manufacturers of house kits with representatives of DOM.RF Bank. The meeting was held by the Deputy Minister of Construction, Architecture and Housing of the Republic of Tatarstan Ilshat Gimaev.

According to the head of the Regional Development direction Sergey Polozov, the introduction of the escrow account mechanism in the construction of residential housing provides for the contractor to carry out construction at the expense of credit funds on a citizen's land plot, and his funds are placed on the escrow account until the completion of the construction of the house.

Thanks to escrow accounts, citizens receive protection of their funds and a guarantee that the contractor will deliver the object in due time: by analogy with the mechanism for buying apartments in apartment buildings, and contractors get the opportunity to scale their activities by increasing the availability of financing.

In addition, the meeting discussed the main banking products in the mortgage lending market for the construction of residential housing, as well as the principles of the sale of federal property. According to the Deputy Minister, the issues discussed at the meeting are aimed at the development of the construction industry in general, and the development of the timber industry in particular.