From the editor: this article was prepared by our podistica Marina N.
Hi all. Let's get acquainted. My name is Marina and I am an ordinary girl living in a small town population of only 270 000 people. I work as a cashier in a grocery store chain. My life was a series of events that became the reason that I became interested in lending. So, it took me a certain amount of money, but due to the fact that the average wage in our city is low, banks refused to issue consumer credit under my salary. I did not give up, but decided to study in great detail the topic of lending.
Credit. Many do not like that word. But I can assure you, it does not bite, does not cause nightmares. For example, in Europe or in America, almost all families had 3 or more credits. Everything you can they take loan. Yes, you can argue to me that they have a completely different standard of living, other credit terms (low interest). But!!! They pay credit life and live in completely different conditions: every family has a car, a nice house or apartment, the children have a good paid education, etc. And most importantly, they do not take credit as the burden of their hard life so, no, they don't think so, credit to them — the opportunity to live in comfortable conditions, not to be destitute.
And now I want to share with You the information that helped me. I'm sure it will be useful for you!
In this article, I did not disclose the types of credit because, for my needs only one hit: a loan secured by housing. So I tried to identify the pros and cons of this type of lending, understand how you can receive a loan secured by an apartment. I made you the manual actions to receive credit. Described further reason why banks may refuse. And most importantly – I did a small survey of banks with the most favorable conditions of crediting on the security of property.
the content of the article:
- 1 the Pros and cons of loans secured by housing.
- 2 Bank Selection
- 3 For some parameters, the Bank assesses the apartments for bail?
- 4 The collection of documents for the loan secured by an apartment
- 5 Important information about loan agreement
- 6 Why a Bank may reject You?
- 7 overview of the banks with favorable terms
the Pros and cons of loans secured by housing.
After analyzing a large amount of information on the topic of lending secured on dwellings, I decided to highlight the following main advantages in this thread:
- Low interest rate (1.5-2 times lower than a conventional loan). This low rate stems from the fact that in the case of confiscation of property, the Bank can sell it and cover all costs of the loan, and even beyond that.
- , You have the opportunity to get a loan for a large sum of money.
- The Bank will not require you to income, information about the guarantor.
- You can continue to live in their home, the Bank will turn you out. The only thing you will not be able to sell or trade.
In this form of lending has its drawbacks:
- a Long-term credit. You will need a lot of time to collect the necessary documents required by the banks for credit secured by housing. As a result, you should be ready to pay various operations of processing the loan. This assessment of the housing, and insurance housing, and obtaining various certificates in public institutions.
- As a rule, the Bank assesses housing below market value. Therefore, the amount of the loan secured by the property is less than the cost of housing. After all, the Bank needs to include the cost of assessing housing and also the debt, fines, and interest, in the case of non-payment of the loan.
- The requirements of the Bank to the housing. Each Bank has its own requirements for housing, running under the security of the flat. Will highlight the most popular requirements: the area of your home needs to be at least 30-35 sq. m. In the house you have to have a kitchen and a bathroom. Your home shall not be located in natural areas (for example, the proximity of the volcano, floods, avalanches, etc.)
- as long as your home loan, you will not be able to dispose of them.
Again, that each Bank sets its own requirements to property as collateral, and therefore this information is to check on the official websites of banks or Bank branches.
Tip: review all proposals which are offered by banks in your city.
the more you review, the higher the probability to get the best deal. If your card participates in salary project, definitely first, contact the Bank whose card you have as wage.
mandatory pay attention to the following parameters:
- Financial indicators – if the Bank is reporting to the public, made by Russian standards, this is a good sign.
- Reviews on independent forums and websites.
- Experience – the longer a Bank, the more confidence in him.
There is a possibility for people who often take loans is to find the tank through the credit broker.
If you have already chosen a Bank, then I recommend to pay attention to the terms of the loan: rate, limit, deadline, requirements to the borrower and the collateral object.
You can, alternatively, to make an online application. Then You will need to scan the documents and send them an electronic version. I note that the online application the Bank is considering longer (2-3 days).
For some parameters, the Bank assesses the apartments for bail?
- location (as evaluated by the city and the area in which the apartment is located);
- The condition of the house in which the apartment is (what kind of Foundation: brick, stone or concrete);
- Accident at home (in the suitability for your house is an apartment);
- the apartment Condition (state of repair always affects the value of the premises);
- the Suitability of the apartment (there is Sewerage, electricity, heating and water supply);
- What floor the apartment is located;
- the Lack of minors living in the apartment (in case of residence of a minor apartment can not be a pledge);
- If you own only part of the apartment or a share in it, it is likely that the loan will not approve of;
- The apartment should not be pledged for other loans, should not be imposed on her arrest and any other encumbrance.
The collection of documents for the loan secured by an apartment
The Bank where you will receive a loan secured by the apartment will provide you with a list of necessary documents for conclusion of the contract of lending. Assume that each Bank has its own requirements. So I'll post a list of the documents that demanded from me:
- certificate of ownership of the apartment (if any);
- fresh extract from the egrn;
- the contract – purchase and sale, donation, privatization, inheritance, etc.;
- the certificate of no outstanding utility bills;
- technical documents for the apartment;
- appraisal of the apartment, order in advance to know how much to expect;
- certificate of absence of arrests, restrictions and encumbrances;
- the certificate number written on the housing of persons;
- the consent of the spouse (or spouses) on the manipulation of real estate;
- a cadastral passport for it.
Next, you will need to apply for a loan (application form provided by the Bank) to enter into and sign the contract (if your candidacy is approved). Only after all these operations you can get the money in hand or in your Bank account.
Important information loan agreement
The correctness of the contract is the most important in the whole process of obtaining a loan secured by housing. It depends on the success of the relationship you and the Bank. Let me explain why. The contract specified the legal relations between the Bank and your. At the conclusion of the contract it is best to go with a lawyer. You have the right not only to discuss terms with the Bank employees, but to insist on them changing if they do not suit you.
If credit terms do not suit you, do not sign the contract. Even if you convince two managers, saying that the contract — "just a formality" and it — the "standard". Even if the money is almost in your hands. Credit payments will haunt you for many years.
be Sure to track the item which stated that the apartment is at your disposal.
The collateral apartment will need to insure, but the insurance and the conditions you have the right to choose for yourself. Choose only the key risks, since the insurance policy will have to be renewed annually and pay him.
The task of the banks is to make money in all possible ways, including errors on the clients. Find out early as you have the right to repay the debt, does the Commission for financial transactions, and if so, in what amount.
Why a Bank may reject You?
In the prospect of obtaining loan secured by there is also the possibility of failure. The reasons for this huge number. The main and most important reason is your ability to pay, but there are other reasons for failure:
- the borrower has a bad credit history.
To fix this problem a person needs time. If this problem can not time to decide, and they need money right now, you can apply for a loan to relatives or to choose a different financial institution.
- Property for the pledge to stay in it.
The Bank takes very seriously the verification of collateral. So if your apartment is in poor house or unfit for habitation, try to flip it the other side, that is, find a plus, which the Bank will not be able to refuse you. Or go to the organization that will be more loyal.
- Collateral is the only shelter of the client.
This cause is debatable. Because each Bank decides the matter individually. But the problem is that by law the Bank has no right to consider such statements.
- In the apartment were held unregistered redevelopment.
In identifying unregistered redevelopment of premises you will be refused credit. In order to avoid such problems you should plan to spend together with timely registration in BTI (Bureau technical inventory). As well as to carry out the very alterations with the permission of the relevant authorities.
And finally, I want to offer you:
overview of the banks with favorable terms
The Bank is the main creditor of the Russian economy and occupies the largest market share of deposits. The leader of the best conditions on loans secured by apartments.
Features of the loan secured by an apartment apply, including pensioners.
The rate on the loan secured by an apartment – 15.5 %. Sum from 500 000 to 10 million. (but not more than 60% of the apartment cost). The maximum length of loan term — up to 20 years.
2. VTB 24
VTB 24 — one of the largest retail banks of Russia. Is one of the leaders among banks, representing credit services secured by real estate and other credit services for services for individuals.
The rate on the loan secured by an apartment – 15 %. Sum from 500 000 to 15m. (but not more than 50% from apartment cost). The maximum length of loan term — up to 20 years.
The advantage of the Bank is that there is no need to collect a large documents list, just the minimum package of documents. The decision is made in a very short time, and can approve the amount without collateral.
The rate on the loan secured by an apartment – 9.9 %. Sum до 30 million. (but not more than 50% from apartment cost). The maximum length of loan term — up to 20 years.
Is one of the largest and most competitive banks in Central and Eastern Europe according to the end 2017года. Also included in the top ten banks in consumer evaluation of services of financial institutions. Provides loans secured by apartments small amounts, which is useful for consumers of the middle class.
The rate on the loan secured by an apartment – from 17 %. Sum до 1 million. (but not more than 60% of the apartment cost). The maximum length of loan term — up to 60 months.
The Bank provides a wide range of standardized and high-tech banking services and products to customers throughout the Russian Federation. Only provides large amounts, which is typical of individual entrepreneurs, who are the main customers of the Bank.
The rate on the loan secured by an apartment – from 17,9 %. Sum от 1 million. (but not more than 60% of the apartment cost). The maximum length of loan term — up to 120 months.
Me, a table, the most favorable conditions presented to the banks.
|Bank Name||loan Term||maximum loan amount (RUB.)||Interest rate (%)|
|East Bank||20 years||30 million||9,9|
|Sberbank||20 years||10 million||15,5|
|Sovcombank||60 months||1 million||17|
|Raiffeisenbank||15 years||9 million||17,25|
|SKB-Bank||120 months||от 1 million||17,9|
In conclusion I would say that a good deal depends on many circumstances. Thoroughly study, every clause, every word, know your rights, to defend them if something is unclear, ask for clarification from the Bank. First, banks interested in providing credit to you. I hope you will be useful for my article. To me, the Bank approved a loan secured by housing property, and I was able to realize his dream: to open a flower shop in your city!
In the comments we can discuss, what were your loan terms or what difficulties you encountered.