How to use maternity capital to repay a mortgage?

Memo on repaying a mortgage loan using maternity (family) capital funds (MSC)

1. Obtain from Uralsib a certificate for the Social Fund of Russia on the outstanding principal debt and the outstanding interest payable for the use of the loan, including the bank loan account details.

Certificates for the Social Fund of Russia will be ready within 15 business days. To receive certificates for the Social Fund of Russia free of charge, call the bank’s toll-free number 8 800 250-57-57 and submit a request for the certificate. We will send the completed certificate by email*. It can also be collected from the nearest Uralsib branch.

2. Collect the documents

— passport,— maternity capital certificate — MSC (if available),— Individual Insurance Account Number (SNILS) of the applicant,— certificate for the Social Fund of Russia,— loan agreement,— residential property purchase agreement,— Unified State Register of Real Estate (USRN) extract (if available),— marriage certificate and spouse’s passport (if the spouse is included in the loan agreement),
— statement of compliance of the residential premises with the requirements and its suitability for living (if you are taking out a mortgage for: an individual residential house, a townhouse).

If you submit the application in person at a Social Fund of Russia branch or at the My Documents MFC, bring the original documents with you.

3. Contact the Social Fund of Russia:

— through your personal account on the Gosuslugi website,— or in person at a Social Fund of Russia office or at the My Documents MFC.

4. Within one month, the bank will send a notification about the write-off of maternity capital funds.

MSC funds are used for partial early repayment:— with a reduction in the loan term,— with a reduction in the annuity payment,— or for full early repayment of the mortgage loan.

The bank does not recommend using MSC funds to repay a mortgage loan if you plan to improve your housing conditions using the mortgaged apartment while the loan is still active. It is necessary to take into account that when selling this apartment, it will be necessary to allocate shares to the child or children and their parents, guardians, or adoptive parents specifically in this apartment.

* The certificate for the Social Fund of Russia is sent to the borrower’s or co-borrower’s email address if they are connected to Uralsib Online and their personal account contains information about their email address;

** Reduction of the annuity payment is possible only if the borrower submits the relevant application.