The State Duma proposed to move away from the American mortgage model

There has long been a discussion in the State Duma about changing the American mortgage model to European savings banks, since working with such a mechanism will cost borrowers twice as much. This was announced on February 1 by Sergei Mironov, chairman of the Fair Russia party.

"Let me remind you that a mortgage is an American model of acquiring real estate through its collateral. There is a European model of construction boxes, and we have been insisting on making them for a long time. [Buying a home through] construction storage facilities will cost our citizens about 2.5 times cheaper than a mortgage," Mironov told TASS.

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