OREANDA-NEWS. March 04, 2010. Subsidized loans can now cover 100% of the cost of the living space standard, for which preferential loans are granted, for the building and rebuilding of residential homes (except for large families that get a subsidized loan to cover 95% of the construction cost and a one-time subsidy to cover 5% of the construction cost). The change was brought about by Belarus president decree No 120 of 1 March. The decree amended and expanded decree No 185 of 14 April 2000.

The maximum size of preferential loans available for buying homes (except for homes built specifically to be sold) has been increased.

Large families willing to improve their housing conditions by buying a new home can use 100% of the subsidized loan granted for housing construction (it was 90% earlier).

Individuals willing to improve their housing conditions by buying a new home can use 90% of the subsidized loan granted for housing construction (it was 70% earlier).

In order to make preferential loans more affordable for citizens in communities inhabited by less than 20,000 people, the loan use fee will be reduced from 3% to 1% per annum.

The new regulations are applicable to new credit contracts, contracts without issued loans, and credit contracts for building (rebuilding) homes, which were out of commission before 1 March 2010.

In addition, large families in communities inhabited by less than 20,000 people have been allowed to get preferential loans to build outbuildings (up to 20% of the cost of the living space standard, for which preferential loans are granted).

The decree allows joint use of one-time subsidies and subsidized loans by families that have disabled children, group I and II children, who are disabled from childhood.