OREANDA-NEWS. December 03, 2007. For the purpose of implementing the sub-program "Promotion of Housing Mortgage Loans" included into the target program "Affordable Housing for Saratov Region Residents and Development of Housing Construction in 2005 to 2010", the Saratov Regional Ministry of Construction, Housing and Communal Services and OJSC ROSNO have concluded a cooperation agreement, reported the press-centre of ROSNO.

ROSNO’s South Volga Directorate is actively taking part in the events aimed to popularize the top-priority national project "Affordable and Comfortable Housing for Russians".

The concluded agreement contemplates joint efforts in clarification of the conditions and procedure for social mortgage compensations to the Saratov Region residents.

Social mortgage represents reimbursement of the citizens in need for improvement of housing conditions for the portion of their expenses related to interest payments under the housing mortgage loans. This compensation may reach 50% of the actually incurred expenses. The primary target audience of the social mortgage program consists of the people recognized as needing improvement of their housing conditions and accordingly included in the waiting list for such improvement. Yet social mortgage arrangements may also apply to such population categories as young people, state employees, military personnel, young couples, etc.

The insurance company ROSNO assumes an obligation to provide public advice on social mortgage, accept the documents required for compensations, and obtain the issued documents in the Ministry of Construction, Housing and Communal Services. All mortgage documents are issued on the free of charge basis.