Furniture can be included in the mortgage loan amount

Provided that it is built-in and made in Russia

The Ministry of Construction of Russia proposes to allow Russians to include pieces of furniture in the mortgage loan amount, as well as finishing elements for an apartment under construction. On the portal of draft regulatory legal acts, a public discussion began on the document developed by the Ministry bill.

We are talking about built-in furniture, as well as finishing elements, engineering support systems, and structural elements of apartments, which, with the adoption of the law, can be officially included in shared construction contracts. This, the document developers emphasize, will reduce their cost for the end consumer.

Since there is no definition of built-in furniture in domestic legislation yet, it is given in the new bill: “pieces of furniture intended for installation in residential premises, not subject to movement, including by fastening to internal walls, floors and ceilings.” The countries of origin of such interior elements can only be the Russian Federation or other member states of the Eurasian Economic Union.

In addition, the bill defines the requirements for the warranty period for furniture, as well as the rights of a participant in shared construction in the event of detection of defects in such furniture. The warranty cannot be less than the period established by the manufacturer, and if such a period is not established – less than two years.