The program to provide parental capital for the birth of at least a second child was launched in 2007. Since then, the law itself has changed several times, and the amount of capital has also changed. From January 1, 2011, this amount is approximately 365,700 rubles. But it is impossible to just spend this money at your own discretion. And you won’t see them in cash either. Only the targeted use of funds provided to parents for maternity capital is possible. There are three ways to dispose of maternal capital.
With the help of maternity capital, living conditions can be improved. At the same time, maternity capital can be used to pay off a mortgage loan taken both before receiving capital and after. Mat. capital can be used to build housing. But at the same time, you will not be able to use it to purchase a land plot, even for building a residential building. You will not be able to use it to repair existing housing either.
If you want to spend your parental capital to purchase housing in a mortgage as a down payment, then be aware that it may take up to six months to consider your application in the Pension Fund, which means that the bank issuing the loan will charge additional interest for providing the amount of the down payment until it is returned. A prerequisite for the allocation of maternity capital to improve housing conditions is the allocation of a share for children.
The second option is to pay for the registration of any child, not necessarily the one for which this certificate was received. The only restriction is that the child must not be older than 25 years and the contract for the provision of educational services must be drawn up for one of the parents.
The third option is to allocate funds from maternity capital to the funded part of the mother’s pension.
If you have not yet decided how to manage maternity capital funds, then keep in mind that money can be spent in installments, and every year the unspent balance is indexed.