Cbank offers banks to insure mortgage risks at their own expense

MOSCOW, Apr 27 (PRIME) –  Russians will not have to insure mortgage risks themselves and at their own expense, the central bank said on Monday.

"The Central Bank of Russia has developed a concept of mortgage insurance, which would allow Russian creditors to offer people a simple, clear and transparent from the point of view of service spending mortgage product,” the central bank said in a statement.

“The Russians will thus be relieved of the necessity to insure mortgage-related risks on their own and at own expense."

The central bank offered banks to insure the houses, life and health of borrowers at their own expense. 

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