Nedvizhimost29-07-2008 Insure life-or-pay higher rates on mortgage loans has decided to improve living conditions through mortgages - are willing to pay insurance. Borrowers need to "insure the property at its own expense the full cost of the risk of loss and damage," says Law. Together with the real estate life insurers, say the banks. As a result, insurance is poured quite a decent amount. Mortgage insurance - a mandatory condition of issuance, and there's no getting around it. According to the law "On mortgage» № 102-FZ, borrowers must "insure the property at its own expense the full cost of the risk of loss and damage, and if the full value of the property exceeds the amount secured by the mortgage obligation - an amount not less than the cost of liabilities." When insuring property against damage or destruction at the time of the mortgage insurance typically covers a wide spectrum of possible risks: it is a fire and flood, and robbery, and other various circumstances. Naturally, the base rate for insurance fund of new apartments with reinforced concrete floor is lower than for wood. Companies are not willing to insure the latter, because the risks are very great.
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