Translation. Region: Russian Federation –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
The government has secured the possibility of using maternal capital funds for the construction of an individual residential building under a construction contract using an escrow account. A resolution on this has been signed.
It will be possible to use maternity capital for these purposes from March 1, 2025, when new provisions of a number of federal laws come into force.
Parents who receive a certificate for maternity capital will be able to use its funds to pay a mortgage for the construction of a house using a contractor company that works with escrow accounts. Such accounts allow payment for the work performed only after its actual completion, which ensures the integrity of the hired construction company.
Currently, certificates for maternity capital are issued without an application – after the birth of the child, the document is automatically sent to the mother’s personal account on the public services portal.
Speaking about the decision taken onmeeting with deputy prime ministers on January 27, Mikhail Mishustin noted that the total number of families who have used maternity capital to purchase or renovate their home has now reached more than 9.5 million. A third of them did so without taking out loans.
From February 2025, the amount of maternity capital will be increased taking into account actual inflation and will amount to more than 690 thousand rubles for the first child, and more than 912 thousand rubles for the second child and subsequent children.
In addition to building or buying housing, these funds can be used to pay for education, form the mother’s savings pension, and purchase goods and services for disabled children. Families with an income below two subsistence minimums per person can use maternity capital for monthly payments for a second child until he or she turns three years old.
The possibility of using maternity capital for the construction of an individual residential building using escrow accounts is enshrined in new provisions of a number of federal laws. They were adopted in July 2024.
Increasing the well-being of families, including those with many children, by improving their living conditions is one of the goals of the national project “Family”, the implementation of which began on January 1, 2025.
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