Russian mortgage in 2010 came to life. This occurred largely at the expense of the state

In 2008-2009 it seemed that the mortgage in Russia is dying, just being born. The number of loans has decreased dramatically. Terms of mortgage programs of most banks were defensive in nature, and the word "property" has been synonymous with high risks. But in the last six months the situation has changed. "Bank A renewed mortgage lending," "bank B reduced the rate of interest," "In the bank lowered the initial fee" - almost every day news ticker recorded the return of the mortgage. Although it should be noted that mortgage lending was revived in the main banks with state or government programs. Towards the borrower One of the main trends of the last six months - a steady decline in bank interest rates on mortgages. Some banks have managed during this time to "write-down" several times. Now even though rates have not reached pre-crisis level of 9-12%, but has already come close to them. Sberbank mortgage can take 10-14% per annum, with VTB24 - by 11-15%. The average value of loans to purchase housing on the secondary market for an initial payment of 20-30% and not less than 10 years at leading banks is about 12.5%. Recall that in the midst of a crisis to soaring rates of 17-35% barrage. Another sign of recovery of the mortgage market - reducing down payment on the loan. In the crisis period, the size reached 50-70%. Currently, nearly 20 banks willing to issue mortgages with down payment is less than 30% (Raiffeisen Bank, "DeltaCredit", Sberbank, VTB 24, Gazprombank, Nordea Bank, "Eurofinance" etc.).

Experts advise taking a mortgage

The decision to "housing problem", according to sociologists, was and remains a major problem for almost 60% of Russians. Moreover, based on income and property value, buy yourself whatever it may be flat, only 8% of the population. Experts told the views of several options for purchase of apartments and houses that can come to dominate the market in the coming months. Swiss bank UBS analysts in a report entitled "Pricing and revenue," notes that in Moscow the cost of living is increasing faster than wages, but the Russian capital is still in the middle of the list of most expensive cities in the world. The experts compared the 73 largest cities, comparing them to prices, wages and purchasing power of residents. "In the" rich "areas of Moscow apartments in the future will be more expensive, but in" poor "is very important - where half, and where, and four - will drop." In terms of prices on a basket of 122 goods and services, but excluding rent, Moscow for those 15 months has risen in the ranking by 12 positions to 56th place (55.6% of the New York City) to 44 th place (65.8%). In terms of wages the Russian capital has risen by one notch from 41 th to 42 th place (26.5% and 30.5% compared to New York, respectively). In terms of domestic purchasing power of capital over this period has moved forward by two positions from 37th to 39th. The most expensive cities in the world, according to UBS, left Oslo, Zurich and Geneva, followed by the list followed by Tokyo, Copenhagen and New York. The lowest prices were recorded in Mumbai, Manila and Bucharest.

What can you buy with a mortgage?

The most demanded type of mortgage in Russia - are loans for the purchase of finished residential property. At the same time more than half of the borrowers prefer the secondary market apartments in new buildings. During the crisis, the only type of housing, which lent the banks were finished apartment. However, in November-December 2009, it became possible to get a mortgage for the purchase of housing under construction, country cottages or land. Buying low-cost apartments in new buildings has become profitable due to the mortgage program in partner banks AHML. For example, a loan 10,25-11,5% in rubles can be obtained if the initial payment of 20%. Accommodation in houses under construction are willing to lend to most mortgage banks, and as collateral may make law for the purchased apartment. Earlier, banks lend to new housing only under the guarantee to existing property. Credit for the purchase of housing under construction now available under the 13,5-16% per annum in rubles for a down payment of 20-30%. And in the Savings Bank in buying flats from developers, customers of the bank, the amount of down payment on your mortgage is only about 10%. Loan to buy a suburban real estate now available in 14 banks, with interest rates on such loans often do not differ from the standard mortgage programs for purchase of apartments. However, the size of the down payment when buying a cottage can reach 40-50% of the value of real estate. Loans for the purchase of lands for development projects provide only a few banks: RosEvroBank, Societe Generale Vostok, TransCreditBank, the bank "Zenith" and RAB.

As a refinanced mortgage loans

While the refinancing of mortgage loans in Russia is engaged exclusively AHML. According to the 100 credits to date features are interested in mortgage refinancing loan of about 70 agencies working in the mortgage market, or are planning to leave him. In the portfolios of private banks, mortgage loans are typically the most part long-term assets. They are funded, usually at the expense of short-term funds, so the banks are interested in refinancing a mortgage. And if the crisis until it was possible to attract funds from abroad, or use the money to other credit institutions, in 2008-2009. the only real source of refinancing funds were AHML. While earlier the main activities of the Agency's purchase of mortgages from lending institutions, today HMLA provides six core activities. In addition to direct refinancing of mortgage loans, HMLA provides guarantees on securities issuance for refinancing with the Central Bank or VEB. At the same mortgage loans from several banks may be combined into a single pool. In addition, the HMLA banks can obtain loans secured by mortgages, and funds for lending to construction companies under the "Stimulus". Structure of the Agency shall also refinance troubled mortgages (through AIRZHK) and mortgage insurance. In this group of large banks or banks can collect on the balance of a pool of 3 million rubles have the opportunity to design AHML guarantee securities issued by during sekritizatsii.

Banks are struggling with mortgage debtors to its methods

With each passing day more and more Russians want to take advantage of mortgage lending. According to experts, from those who are planning to purchase a house in the near future, in 2006, take a loan from a bank willing to 8%. In an effort to attract new customers, banks are obviously trying to create a more affordable loan programs, given that service mortgages to provide more than 350 Russian banks. In this case only for Moscow clients developed 300 mortgage programs. Banks literally reduce the amount racing down payments and interest on loans. While in 2004 most of the programs offered a lump sum payment of 30% or more of the total, the size of down payment today is on average 15%. As a short-term promotions a number of banks have already offered to customers mortgage loans without down payments. In this case, according to experts, the downward trend in contributions and interest on loans to banks is fraught with a sharp increase in "non-payers." However, in most of the respondents G2P banks, saying that the proportion of bad loans is 1-2%. "Recently, a number of banks, new to the mortgage market, to enable the rapid growth of mortgage lending significantly reduce the requirements for clients and their income as a result they may be faced with a large number of defaults this year. Customers of these banks realize that they can not serve already received loans and are forced to sell mortgages purchased with accommodation ", - says Mikhail Gusygin, Head of Business Development of City Mortgage Bank.

Credit for the loan

Today, many banks offer mortgages on more favorable terms than a year and a half ago. It is easy to find a loan at 10-12% per annum for the advance payment of 10-15%. But what happens to borrowers who have issued a mortgage before, but want to borrow on more favorable terms? Today, the mortgage lending market, offering the possibility of 12 credit institutions, but their services are still virtually untapped. During the six months was reissued only 35 credits. In 2008, mortgage refinancing was possible in 25 banks, with total loans was rescheduled 130.5 million rubles. But a year later on the market there are only 5 banks (Raiffeisen Bank, KITfinans, International Moscow Bank, etc.), and the year they were re-registered 15 credits. Large mortgage lenders, Sberbank, Bank of Moscow, VTB 24-lending resumed only 8-10 months ago. Today, you can also renew the mortgage with Gazprombank "DeltaCredit", MIA, Alfa-Bank and other organizations. Bankers are counting on the influx of borrowers who took loans during the crisis. The most expensive mortgage was in June 2009, when the average rate on ruble loans accounted for 19.92% and a loan in dollars granted by 15.65%. At the same time a year later the mortgage in rubles could arrange for 16.22% and the currency - at 13.26% per annum. Today, the big banks offer the ability to lending on more favorable terms. In the Savings Bank re-registered mortgage granted by 11,7-13,5% per annum and is ready to lend VTB 24 subprime borrowers at a rate of 13.6%.

Mortgage securities are entering the market

Recently, on 29 July 2006, the law was published, which aims to increase the availability of mortgages for the citizens. It is a federal law amending the Law "On Mortgage Securities", adopted in 2003. Development of a new document has been provided an action plan of the Russian Government on the implementation of socio-economic development of the Russian Federation in 2006-2008. The Act aims to remove obstacles to issuance of mortgage securities. Their entry into the market will allow banks to more actively use the mechanism of refinancing, which in turn lead to lower rates on loans to the public. The greatest response among market participants was normal, excluding provision for compulsory insurance of the borrower (individual) life and health. It's no secret that insurance significantly increases the cost of obtaining a mortgage loan. According to the Russian Government, the requirement for life insurance and health of the borrower is excessive, since the promisee with citizens already have adequate security of their property claims in the form of a pledge of real estate. However, with this position do not agree, many banks and insurance companies that intend to preserve life and health insurance along with other types of insurance as a requirement for borrowers. Recall that, to date, banks offer mortgage borrower comprehensive insurance: property (make a mandatory basis in accordance with Art. 31 of the Law "On Mortgage (mortgage)", life and health (required if the mortgage refinance by issuing planned mortgage-backed securities, now that obligation has been lifted), the risk of loss of ownership of the property (title insurance that provides compensation for loss of ownership of the acquired property.)

Mortgage rates: alignment with inflation

The top management of the country set a target to make mortgages in Russia, mass and cheap. To do so, expected to significantly reduce the interest rates on loans. In particular, the State Duma speaker Boris Gryzlov said that during 2006-2007, is scheduled to bring the rates down to levels of 6.5%. Duma faction "United Russia" believes that mortgage interest may reduce to 6%. To achieve this result most easily by subsidizing the interest on mortgage loans due to additional revenues. The Finance Ministry are skeptical about this initiative, believing that the loan rates will fall by themselves, but only when inflation is reduced. While high interest rates on mortgage loans are one of the main reasons for the slow development of mortgages in Russia. At the present time they average about 15-18% per annum in rubles, 11-13% - in foreign currency. But this so-called declared rate, effective the same (ie, real) due to various additional payments can reach up to 18-19% per annum. Take a mortgage interest that exist in Russia (usually 10-15 years) - it ruinous. In fact, the borrower will have to pay for two apartments, to get one. Of course, some attempts to reduce borrowers' payments being made. For example, with January 1, 2006 HMLA reduced rate from 14 to 12% in rubles. It is planned to continue this process further. But how realistic these plans? First of all, they depend on increasing the amount of state support for mortgage lending programs of housing.

Bankers are lured borrowers loans with no down payment

This year, several banks offered mortgages with no down payment. Potential borrowers, most of which lack of own funds is a major obstacle to the improvement of living conditions, the proposal enjoyed it. However, the hope for a massive failure of the first payment of creditors should not be too high risks of banks who dared such a move. The first mortgage with no down payment offered to the Bank of Moscow, abolishing the initial contribution for the summer - from June 1 to August 31. Behind him, too, as an experiment, from July 1 to September 1, stopped to take a down payment borrowers National Reserve Bank, which together with a subsidiary of the National Mortgage Company has developed several programs. A "Vneshtorgbank - retail services" overturned the initial payment for purchase of apartments in the secondary market, where borrowers are not limited to timing. The program operates in Moscow, Yekaterinburg, Krasnoyarsk, Novosibirsk, Kazan, Nizhny Novgorod, St. Petersburg and Leningrad region. Of course, programs for zero down payment, will find their customers, primarily due to greater accessibility to the population of this type of loan. These programs will be in high demand - says Laura Faynzilberg, deputy chairman of the mortgage bank DeltaCredit. - But now in the market few of them - out of 400 mortgage programs operating in Moscow, only about 10 are based precisely on a loan with no down payment.

Expensive mortgages pushed the Russians to buying a home abroad

For the Russians acquire ownership of apartments, villas, land plots for construction and other real estate abroad is increasingly becoming an alternative to buying the same in their country. Realtors believe that we can speak about the formation of the Russian market full of foreign real estate with all the "attributes" - developed by supply and demand, companies, professional-oriented work on this market, specialized publications, aggressive advertising, etc. "There are various data on the growth of the market, whose volume is estimated at $ 7 billion a year" - said the TV channel RBC in the "Capital" head of the Cypriot construction company Lemestia Sergei Kozlov. Most experts believe that last year the market grew at times, or 25% compared with 2004. But the numbers are approximate, since the vast market includes dozens of countries, and many offer services of foreign and Russian companies and banks that are reluctant to share information. But the fact that this phenomenon is widespread and the market is booming, experts say with complete confidence. Last year, the greatest demand was observed in Spain - 21%, Cyprus - 19%, in Turkey - Bulgaria and 16% - 13%. Summer prices a year ago in these countries can not be called "biting" with Spain and Cyprus - two thousand dollars per square meter, Bulgaria and Turkey - two times less, respectively, 1.0 thousand dollars and 900 dollars on other countries accounted for 31% - Montenegro, Czech Republic, Croatia, Finland, Italy, France, etc.

Mortgage market: the cake is already divided?

The mortgage had high expectations, it is called an essential tool for solving the housing problem in the country. In the banks created departments of mortgage lending, the administration of entities - the commission and the federal government - the agency. Meanwhile, last year in Moscow 12,000,000th issued only 4.4 thousand mortgage loans, but only in the country on the mortgage is made not more than 4% of the transactions. If the state does not support guarantees more loans, commercial banks do not appear to reduce the incentive rate and the additional payments the borrower. Conclusion unexpected: it is well known that banks are competing hard for the existing mortgage "tart." But after the boom in 2005 the influx of new players in the mortgage market began to dry up. Doubt and 'Wearing' the problems of the mortgage to the program "Housing" and the social sphere in general. According to various estimates, comparing incomes and mortgage terms, use the credits in the state from 6 to 8% of Russians. The vast majority of people who already have far more than 18 square meters. meters per person. This does not prevent officials claim that the mortgage has become the main way to provide citizens with housing. It is true that to prove such allegations with specific data is difficult. The data is there, but to them a lot of questions. We add and divide one of the goals of the program "Housing" - an increase by 2010 from 9 to 30% of the share of families that will be available for housing through their own and borrowed funds. Based on the fact that in Russia there are 46-48 million households, 30% - 14 million households.

Who benefits from corporate mortgage program

This year, the market appeared first corporate mortgage program. Using the service, business leaders can help their employees improve their living conditions, in return for their loyalty and enthusiasm for work. Banks such a scheme can significantly increase its mortgage portfolio and get more money back guarantee. Buy something in bulk is always cheaper than retail. Including apartments on credit. If one of several employees decide to take a mortgage, it is better to do it together, in one bank, and is a corporate client who is the employer. Even if the bank is not a special corporate program. Although our bank has no special programs for corporations, mortgage, corporate employees IMB may have a number of benefits in obtaining a loan, - says head of retail products and services of International Moscow Bank Alexey Aksenov. - In particular, they should pay the mortgage with a reduced commission for arranging the loan (only 0.5% of the total). Interest on the loan in this case will be 0.5% smaller than standard. But the bank "Revival", as the deputy head of retail banking operations Malaychik Marina, and is willing to work with large corporations who are not clients of the bank. "Right now is the real work of mortgage lending in the social program of JSC" RZD "and Mostransavto (Moscow Region), pending an agreement between the Bank" Revival "and the group of" GAS ", - says Marina Malaychik. - Of course, for their partners we can offer preferential lending terms - it reduced the interest rate, reduced the fees for the issuance of mortgage credit, reducing the duration of the application and abbreviated list of documents to the borrower. "

Mortgage literacy campaign

So, the mortgage - this is a stock lending, designed specifically for housing. Mortgage loans are available to purchase flats in the secondary market or in the building, cottage or cabin. In rare cases, banks give out mortgages to buy a room in a communal apartment. Who to whom and on what makes a loan? But the mortgage - a loan is issued and it is those who are on the conclusion of the bank in a position to pay off in the allotted time period. Accordingly, the decisive factor in this regard is the solvency of the client, not the hard living conditions and the urgent need to improve them. The exception is the so-called social mortgage, which recently is so much talk of power. Accordingly, if to put aside this most social mortgage, the loan amount for which the borrower is eligible, will depend on its level of income and opportunities for them to confirm. Mortgage loans, like any other loans to banks, but not real estate companies. Despite this, many medium and large real estate agencies have entire departments that deal with mortgages. The thing is that the loan transaction and a new home, and often sell the old one, is inextricably linked to each other. At the same time provide support for realtors sales transaction and receive compensation that is what, and the bank issues a loan and get money for servicing the loan. Hiring a consultant on the mortgage, real estate agencies thus attract more clients, creating a competitive advantage compared to the agencies where there are no such specialists.

A thousand times say "mortgage"

Audit Office, tax cuts and foreign investors will help curb the development of prices of mortgage lending has led to the demand for housing grows much more than a proposal that gives rise to "skew" the real estate market, said yesterday at a press conference, Vice President of the Association of Regional Banks of Russia, Alexander Khandruyev. Successful implementation of the national project "Affordable Housing" interfere with insufficient pace of housing construction, said Alexander Khandruyev: "Around the world many builders to build profitable and sell relatively cheaply, and we have builders build profitable enough to sell and very expensive." As a result, demand exceeds supply, and price per square meter rising to the heavens. Over two years of the mortgage market in Russia grew very little, and today is no more than 0.3 percent of GDP. For comparison, in Europe, the volume of mortgage loans is 70 per cent of GDP, while in the U.S. - 50 percent. However, analysts predict the association until the end of 2006 will be given another 108 - 110 billion of mortgage loans, but not enough. Meanwhile, mortgage development is "a reflection of maturity of the state system and legislation of the country," says Khandruyev. According to him, serious problems hindering the development of mortgage lending in Russia, are insufficient in the bankers 'long' cheap money to make loans refinancing, and inadequate system domestic credit institutions by the Central Bank. Therefore, the mortgages are now in the main deposits of citizens and enterprises, and equity capital of banks.

What we know about the mortgage?

The vast majority of Russians somehow know the word "mortgage", at least by reputation. As a result of the massive information attack media are such people in Russia 76%. This is a real progress compared to 2000, when the mortgage that something heard only 28% of respondents. But, despite such a high awareness of what really lies behind the term "mortgage" in a country few know. Responses of Russians on the question "How do you understand the word" mortgage "?" literally puzzled researchers of the Fund "Public Opinion". In a study on the housing loans, it was found that less than half of Russians have shown awareness of this issue. In other words, only 44% of Russian citizens know that this "credit for the purchase or construction of housing." Others who responded in that much. Some believe that it is "any large, long-term credit at interest." Others understand by the mortgage "interest-free or concessional lending." An opinion that the mortgage - a "loan for young families." And someone said it was "state aid". Very few mortgage called "cheap and affordable housing." But the strange thing, one in ten mortgages not associated with anything specific, but is only negative comments - from "high interest loan" to the "sheer fraud." When a similar survey was conducted for the first time in 2000, 63% of Russian citizens first heard the word "mortgage" from the interviewers. Today, progress is evident - the only one in five never anything about her not heard.

Mortgages on the steps

The time when a dear paradise, and in the shelter, are gone. Separate comfortable accommodation - this is one of the first requirements of a modern family. But what if the cost of cherished square feet grow? Today, many banks offer a variety of mortgage loan schemes for purchase of new homes or improve existing ones. Understand the question of buying an apartment in the credit manager will help us mortgage center Real Estate Agents "Domostroy" Elena Husnulina. I wanted to first say about the advantages of buying an apartment on credit. First and most important for the young, is that once you become the owner of the acquired dwelling. A payment is made on your mortgage, you pay for your apartment, but do not spend money to hire someone else. And the second - is that a constant increase in property prices is more profitable to buy an apartment on credit than a few years to save for it. Mortgage allows you to live in his apartment, make it a good repair or remodeling, which is impossible in a rental car. Moreover, a loan to buy the apartment, without shelter or even take credit for improving their living conditions, with the worst apartment. This applies to new buildings, and apartments on the secondary market. Consider a common mortgage scheme buying an apartment on the mortgage. It is used when the young have their own homes: Step 1. Submission of documents to the bank and getting a positive decision to open a credit line (for which the loan can count). Step 2.

Mortgage rates fall with increasing competition banks

According to the forecasts of some experts, the mortgage market in Russia in 2006 will grow by 30-50%, while the share of regional mortgage loans in the market will increase significantly. Probably the forecasts come true, because only the first quarter of this year's mortgage market grew by 25%. At present, mortgage housing programs involving about 350 banks, and the volume of the Russian mortgage market was 52.8 billion rubles. The experts at yesterday participated in the "Capital" at RBC, said that competition in the mortgage market has led to the fact that banks have to lend at lower cost and longer, while toned down the requirements for borrowers. Mortgage rates are differentiated according to the initial payment and the loan term (the cheapest loans - 10% in currency and 12% in rubles - usually granted for 15 years with an initial payment of half the purchase price). Today, borrowers in Moscow and St. Petersburg prefer to mortgage loans in dollars, in the same regions of the most popular loans in rubles. However, with the end of last year, a trend to an increase in dollar-denominated loans, as rates on them more profitable and the dollar in recent years either stagnating or declining. Experts say the demand for housing is rapidly growing, so the main problem of the mortgage market today - is insufficient volume of construction. By some estimates, the pace of construction is now three times as lagging behind the development of the mortgage.

How to live? In credit!

Today, many Muscovites affirmed the view that free or low-cost housing should not wait. Solve the housing problem must own and as soon as possible. One option permits the housing problem - a mortgage loan. Buying in new or secondary fund? The market is now refocused on the secondary market. In general, to find a suitable apartment in the new house is quite difficult. Some banks are not lending for the purchase of new buildings, thus they tend to avoid the risks associated with the construction of new homes and apartments in the design of the property. And many lending institutions to purchase housing in the primary fund set higher annual rate of 13 percent to 18 percent. True, after the apartment is decorated in the property, the loan interest rate will decrease and will be the same as on the secondary housing market. And yet, from the beginning of construction until the date the apartment ownership can take from two to three years. It should be borne in mind that most of the apartments for rent without finishing. Choosing a bank in Moscow is total of 60 banks, and each of them is offered from 3 to 6 credit programs. To select a suitable program for yourself, it is better to use the services of a credit manager. The bank at this point, you will not much help, so it is best to contact the real estate agency. Typically, customers are invited to choose from several banks. But it will also depend on the situation. For example, if the income is confirmed by the client verbally, the realtor can offer maximum 1-2 bank.

Mortgage lending is shifted to the regions

Despite the sharp rise in prices for Moscow real estate, the amount issued in Russia mortgages continues to double every six months. According to CB, in the first half of this year's volume of mortgage loans was 104.5 billion rubles. compared to about 52.5 billion rubles. in the second half of 2005. The market shifted to the regions, experts explain. "According to the Central Bank on July 1, 2005, the volume of mortgage loans amounted to 26 billion rubles., On January 1, 2006 - 52.5 billion rubles., And on July 1, 2006 - 104.5 billion rubles already." - said yesterday Rossiyskoyaponskom Economic Forum President of the European Trust Bank, Chairman of the Mortgage Committee of the Association of Russian Banks Andrew Krysin. According to the Rat, mortgage market participants expect that in 2006 it should be doubled and reach $ 6 billion, but if until recently the main increase in the number of loans provided Moscow, now go forward regions. "Increase in the number of deals by region is 70-90%, in Moscow, about 70%," - said a board member of City Mortgage Bank Igor Zhigunov. "The number of mortgages issued by our regional offices (Bank is active in the Moscow region), while small. But it is already about 60% of loans have property outside of Moscow," - said Deputy CEO of Absolut Bank Oleg Skvortsov. And in the Russian mortgage bank, which operates only in the Moscow market, said that the number of loans has diminished recently, although their amount of the increase in housing prices rose.

Why are banks reluctant to loan to buy a suburban real estate?

The suburban real estate market recently seen an unprecedented boom. New objects appear larger, and prices are steadily rising. Already accustomed to the idea that housing can be purchased on credit, many buyers are suburban houses would be willing to take a mortgage. However, banks are not yet ready to offer our customers just as attractive credit terms, like buying apartments. Curiously, the interest in the mortgage when buying a suburban real estate in general is even higher than the purchase of urban housing. Thus, according to independent research organizations in early 2006 to take advantage of a bank loan to buy an apartment in Moscow, were ready to just 8% of those who planned to purchase a house within the next year. In this case, for example, according to Deputy Director of the suburban real estate company "Miel" Vladimir blue, and now the possibility of mortgage interest every other customer who buys a house near Moscow. And according to company estimates, "City-XXI century", now with mortgage arrangements are made about 5% of purchases in this market. "Basically, the mortgage interest customers who have their own savings of $ 500-600 thousand dollars. However, as the price of suburban real estate over the past year increased significantly, this category of customers can not find a good offer to that amount and have to use the credit, "- said the head of the Department of suburban real estate Blackwood Marie Litinetskaya.

Mortgage insurance: expensive, but necessary

The housing market, as we know, was and remains a risky sphere of Russian business. System of mortgage insurance helps reduce the risks to a minimum. Now the existence of the policy is a prerequisite for obtaining a loan. But this raises the cost of service is more for the final cost of the mortgage borrower's apartment. The client, contact the bank for a loan to buy an apartment, paid only a relatively small portion of its market value (usually 20 to 30%). The rest of the sum gives the bank, which for several years the borrower must return the amount received with some interest. Guarantees and warranties The Borrower shall again take the money for a long time (generally 10-15 years but may be 20 or even 30 years), and the lender requires guarantees that no dramatic changes in the borrower's life and the fate of the acquired due to the credit shelter not prevent the return of money. For the bank, it is important that when the insured event the loan was repaid by insurance payments. Loss of high-paying job, disability due to accident or illness, death of the borrower - all risk factors. Also, when buying an apartment in the secondary market creates an additional risk of legal purity issue, because even the most meticulous examination does not guarantee that ownership does not argue with someone from the former owners. The bank issuing the mortgage loan, of course, want to ensure the return of their funds and profitability of the operation. That is why banks tend to shift their risk onto the shoulders of insurance companies - one of the conditions of the contract of mortgage lending has become compulsory insurance transaction.

Defaulted borrower. What should I do?

Mortgage loan - it's kind of long-term bank lending. On average, it is designed for 10-20 years, and for a time a lot can happen. According to experts, the peak of bad loans after some 3-4 years from the date of issuance. While many banks are working with mortgage programs, in practice, this situation has not faced since the length of their activities in this area have not yet reached a critical period. What do I do if life's circumstances have changed suddenly and pay on a mortgage has become impossible? Compromise is possible here is as a general rule. If the borrower has the guarantors of the loan (which, for example, necessarily requires the Savings Bank), the claim is presented to them. If there is no bail or they also can not pay, you should claim the creditor bank to court over the recognition of the so-called borrower defaults and the sale of mortgaged apartments at auction. Proceeds from the auction amount the bank collects its (the remainder of the loan, interest, penalties, costs of the auction), the rest is returned to the borrower. Of course, this is an extreme measure, and report to it should not. What can we do to not bring to the extreme measures related to the eviction from the apartment? First of all, the borrower must contact the creditor bank and tell them about their problems. After explaining the situation, you need to apply for a deferment of payment of loan payments. If difficulties are clearly temporary in nature, the bank offers a reprieve. Temporary difficulties can be recognized even loss of employment, unless the borrower's demand on the market.

Why are our bankers are afraid of the mortgage?

Whose fault is that there is no normal mortgages, has become almost a rhetorical question. The state accuses the banks of "underdevelopment", banks in approximately the same blame the state. Yesterday the Association of Regional Banks of Russia has announced yet another reason why the Russians are so unlucky to lust for many credit - an acute shortage of "long and cheap" money. This opinion is almost 84% of respondents. Third of the participants of the study indicate the imperfection of judicial procedures, and 14.5% say high-risk factor for the banks and the relatively low profitability of this type of lending. The fact that banks are afraid to take risks, and indeed, it is possible to explain the "history". Taught by bitter experience in the consumer loan defaults, they are now "blow" and a more serious type of lending - mortgage. Over the past year, the amount of mortgage loans in Russia amounted to about 126 billion rubles, which is a paltry figure for this market. Mortgage business in the banking environment enjoyed while infamous - it is considered promising, but unstable. This once again confirms the fact that across the country in mortgage lending works only about 350 credit institutions and, by and large, only three banks specially created "a mortgage" and for a mortgage - City Mortgage Bank, "DeltaCredit" and Moscow Mortgage Agency. A thousand others just watching. Meanwhile, according to the calculations of the International Finance Corporation (IFC), for a minimum meet the demand for mortgage banks to give loans to people for about $ 650 billion

Mortgage: 5 errors

Mortgage - a concept for Russians is relatively new, and as with any news, it is overgrown with all sorts of speculations, misconceptions and fears. "Owner" of market participants interviewed on the subject of errors with some of their clients they encounter most often. Misconception 1. Mortgages are now very expensive, have to wait until interest rates drop. Alla Tsytovich, vice president of business development bank DeltaCredit, believes that it is not so much the high cost mortgages, but in the most expensive real estate. "The family with an income of $ 2 thousand can get a loan of $ 90 thousand for 15 years at 11% per annum. By reducing the rate to 7% can get not much more - $ 110 thousand, "Thus, at a cost of Moscow's one-bedroom apartment at $ 200 thousand families still need to have approximately $ 100K of their money (savings) for housing. In addition, analysts predict continued growth in housing prices, so if you now have the opportunity to buy an apartment even with the assistance of the loan can not be expected to reduce rates: it does not allow to save money, because housing in this time grow in value much more. Misconception 2: It is terrible to take a loan for 15-20 years, because it is not clear that during this period may occur. According to statistics, a mortgage loan in Russia is completely extinguished much sooner - in 4-5 years instead of 10-20 years. From some of the most unpleasant risk borrower insures the insurance company (from loss of property rights, health and life). Again, the general trend in the property market in the world and Russia in particular is that the price rising in absolute terms (despite the crises).

Mortgages for inflation

To make mortgages available to the public, it is necessary to reduce inflation to 5% per year, according to President Vladimir Putin. If you believe the forecast of Economic Development, for a given reference point can come out in 2008-2009. Approximately the same time and calculates the Association of Russian Banks, predicting that after two or three years, interest rates on mortgage loans will be reduced to 7-8%. Experts doubt the reality of both forecasts. "If we can achieve the level of inflation at about 4-6%, the mortgage loans that can be taken for a long time under fairly modest salary, will be available to millions of people" - promised the president. According to forecasts by the MEDT, in the next year inflation will drop to 6.5-8% in 2008 - up to 4.5-6%, and by 2009mu - up to 4-5.5%. Banks also expect that by this time mortgage rates drop to 7-8%. However, experts doubt the implementation of such ambitious plans in the short term. Primarily, this is impossible because of high inflation. "Achieving the target of 5% is unlikely - the expert says the Center for Oksana Osipova .- The contribution to inflation is 3% of the monopolists, and it is unlikely to decrease 2% for the rest - it is very hard task for the government." "The real inflation rate for 2009 - 6-7%," - predicts Oksana Osipova. Even if we assume that in a few years, inflation is still reduced to 5%, the mortgage lending boom is unlikely to happen. The fact that housing going up by its own laws: the rise in prices is primarily a decline in supply, as well as the cost of materials that are virtually ignores Rosstat, counting inflation. "Inflation last year was 11%, while the price per square meter in Moscow in 2006 increased twice already," - said the head of a group of mortgage companies' Relight property "Svetlana Pugacheva.

Mortgage crippled

Only 2 percent of the population of Russia may use the services of 350 Russian banks, which provide mortgage loans. A need to improve the living conditions of 61 percent of Russian families. These figures are reported yesterday at the Fourth International banking forum in Sochi President of RSPP, Alexander Shokhin. In order to start a mortgage in Russia, according to Shokhin, to promote competition in the market. And it needs to first ensure competitive conditions for the grant of land for housing and connect to networks. Another important measure is to obtain Russian citizenship "proof of income." This is the problem of legalization of proceeds, which still does not find a solution. At this time, Shokhin suggested a "whitewash" salaries "by correcting the unified social tax by removing it from the insurance component": "This can lead to what is already in the near future, 20-25 percent of Russian citizens will have a positive credit history and to participate in mortgages. " According to the president of the Association of Regional Banks Alexander Murychev, even in order to achieve a minimum European level in 30 square meters per person, at the current pace of housing construction will need 45 years. While in Russia, 20.7 square meters per person. Two million families live in dilapidated housing, more than half of all homes built before 1970. Solve the housing problem, according to a banker, and prevents the speculative demand for apartments - as a matter of investing money in an inflationary environment.

Banks will be forced to take a mortgage

Representatives of the banking community today say: two or three years, mortgage rates could fall to 7-8% from the current 11-12% in rubles. However, with the condition that inflation will listen to the government and reduced to 4-6%. That is, not much is not enough - almost twice as compared to my present figure. If this does not happen, then you should not expect a decrease in rates or a sharp increase in the proportion of mortgage loans in loan portfolios of banks: credit at a loss commercial structures are not collected. Even for a national program providing the population with affordable housing. Putting the question can hardly be arranged. President Vladimir Putin shares this view when he recently also said that while inflation was 4-6% of residential mortgage loans will be available to millions of people. Including those who do not have the ability to make monthly loan repayments in 1000-2000 dollars - that is such an annuity amount, according to experts, is the middle of Moscow. In the regions, for obvious reasons, this amount is lower, but there it becomes a huge burden on family budgets, "eating" from 40% to 60% of monthly income the borrower (or his family). One gets the impression that there is old and has already become a familiar debate: Who should take the first step to a mortgage has earned - the banks or the government. The head of the Association of Russian Banks Garegin Tosunyan, talking about lowering mortgage rates, cites the example of China where, he said, housing loans for 25 years issued only at 6% per annum.

HMLA notes rise in demand for housing loans

"Mortgage die" - something like a year ago heard the headlines. In a crisis, housing lending has become even less affordable than it was before: twice the size of the initial contributions grew, the banks went to the refusal to issue loans. This year the Russians back the mortgage. The results of the first half, which has brought in its report the Agency for Housing Mortgage Lending (AHML), indicate a steady recovery in demand for apartments in the loan. From January to June issued 107 000 mortgage loans totaling 133 billion rubles, calculated in AHML, based on data from the Central Bank. Compared with last year's indices increase almost 2.5 times. Forecast AHML: end of the year people will be granted mortgage loans worth 320-360 billion rubles. What was the cause of activation of the mortgage market? First, a general improvement in economic conditions still remain such "vestiges" of the crisis, as the price of housing. According to the Agency, the average price per square meter of Russia in the secondary market amounts to 59 rubles per square meter, in new - 48 thousand rubles. This is a 12 per cent and 0.7 per cent respectively more than in 2009. That is, the return to pre-crisis highs have not yet happened. True, the further price behavior expert opinions today differ. Some argue that the growth of interest in the property (even in the form of mortgage) necessarily drags along and price per square meter, and by the end of 2010. Specialists of the analytical center "Indicators of Real Estate Market", in turn, give prices for the excitation of at least another two or three years.

The initial payment on the mortgage reduced to 10%

Mortgage market continues to revive. The state is trying to make mortgages available for most Russians. One of these days of "HMLA" refinanced the first six mortgage loans, reducing the initial contribution made possible through insurance of mortgage obligations (liability insurance for the borrower's failure to perform or improper performance of obligations under the loan agreement). This type of insurance allows banks to issue mortgage loans with an initial payment of 10%, not significantly increasing their own risk and interest rate on the loan. As a result, reducing the down payment is beneficial to the availability of mortgage credit for households, which leads to an increase in lending in general. According to Director General Nina Smirnova, SK AHML "insurance mortgage obligations - a mechanism that allows the Russians right now to ensure availability of mortgage loans with an initial payment of 10%. And now the result of the buyout loans in the portfolio AHML. Evidence that this mechanism to work and mortgage lending demand in the market and will be actively developed. " If a citizen makes out voluntary insurance covering their liability under the mortgage obligations, he can get a mortgage loan by the standards of AHML with an initial contribution of 10% at rates up to 11.5% per annum - the primary housing market and 12.5% ​​- in the secondary (if private insurance). The processes now taking place with a mortgage, it is possible to call it rehabilitation.

By year end, interest rates on loans for home purchase may be reduced to 12%

Gentstvo for Housing Mortgage Lending (AHML) predicts that by year-end rates on housing loans will drop to 12%. Bankers agree with these conclusions, noting that some financial institutions have great products at such rates. But perhaps it will be the average for all banks, rather, we are talking about individual loans for the most reliable borrowers. The flagship of the domestic mortgage market - The Agency for Housing Mortgage Lending - promises that by year-end rates on ruble mortgage loans may be reduced to 12-13% with 13,1-13,3%, recorded at the end of the first half of this year. "When you save the external economic conditions by year-end rate will drop to the level of 12-13% for loans in rubles and 10-10,4% for loans in foreign currency", - stated in the materials AHML. Experts note that projections HMLA usually true, as the Agency may make a difference in the market. However, hardly marked level is considered "average temperature for the hospital." The materials HMLA says that rates will fall from 13,1-13,3%, the level of rates of the first half of this year. However, these lower rates could be observed only by product of the AHML. On average, the rates on mortgage loans in rubles remain at 13-15%, in foreign currency - 10-11%. "HMLA at the beginning of the year, and now offers loans at an interest rate below 12%. We are also major players in rates below 12%, but there are values ​​depending on the rate of loan product (purchase / mortgage), size of down payment, loan term, the method confirmation of income, etc.

The rich have their quirks: they like to buy an apartment on the mortgage

The number of apartments purchased today with a mortgage loan does not exceed 5% of total amount: modest means buyers are baffled by the interest rate, and reluctantly decided to use borrowed funds. In Moscow the figure above, and due to the fact that the apartments on the mortgage does not become poor. It would seem that loans just invented for people who do not have money to buy some things. However, in practice, small loans (up to $ 10 thousand) for the purchase of household items are unprofitable because of high interest rates, many formalities (although bank officials and assured to the contrary) and the most insignificant sum. It is much easier to take the money from friends or to save yourself. We are looking for workarounds Contrary to popular belief category affluent citizens are usually not available in a lot of money to spend. The bulk of their funds invested in the business or any investment instruments. Profitability of the business can reach up to 50% per annum, and, seizing part of finances from the market, the entrepreneur will lose quite a serious profit. It is here that comes to the aid of a mortgage loan. General manager of retail sales and services of International Moscow Bank Alexey Aksenov said that to date interest rates on mortgage loans are not only quite low, but very flexible. This means that the potential borrower, who convincingly substantiate their ability to pay, and showed a high annual income, are entitled to reduction of interest.

Who benefits from mortgage loans with flexible rates

The average mortgage is now granted for 15 years. And all this time, the bank fixes the interest rate. And even if interest rates fall significantly in the market, the borrower will continue to pay the same, high interest rates. One way to overcome this injustice - to take a loan with floating interest rates. In fact, ways to get around fixing the mortgage interest rate for the entire term of the loan or two. The first - ever to refinance a loan in his or someone else's bank account. Second - take out a loan with a floating rate mortgage when interest is tied to the market average lending rate on the Russian or foreign markets and changing along with it. However, for the Russian borrower until it is more theory than practice. In the west, where the history of mortgage lending has dozens of years, all technologies are turned out and worked out, borrowers are active and the other option and reduce the cost of mortgages. As for us so far and both the technology in its infancy, banks that offer such programs, very little, and do the proposals are such that the most likely resemble a publicity stunt than an effective way to reduce the cost of a mortgage loan in accordance with market realities. Take a refinance loan. It seems to be refinance mortgage loan, changing the rate of credit already available at many banks. In particular, Raiffeisenbank, International Moscow Bank, "KIT Finance", Vneshtorgbank 24, and other banks. However, in order to refinance, now need to re-go through the whole procedure of obtaining a mortgage, registration of new paying all fees and commissions.

Recent trends in foreign currency and ruble interest rates on mortgage programs

By mid-2010 interest rates on loans in the Russian mortgage market returned to pre-crisis, and sometimes even at a lower level. The cost of loans to purchase housing on the secondary market for an initial payment of 20 - 30% for at least 10 years, major banks is about 12.5 - 14% per annum. Variable rates are lower than before the crisis, since the values ​​LIBOR, EURIBOR, MosPrime and refinancing of the Central Bank, to which they are attached, are kept at very low values. At historic lows keeps the refinancing rate AHML, which serves as a benchmark for its partners, to set interest rates on credit products, the Agency. Interestingly, rates on loans for apartments and holiday homes in some of the banks equaled, even in the "fat" years, loans for more expensive houses on 1 - 2%. The same rate on loans for the purchase of apartments and country houses set up the Bank of Moscow, Barclays Bank VTB 24, Banca Intesa, KreditEvropa Bank, Nordea Bank, the Bank "Russia", Russian Agricultural Bank, Sberbank, Svyaz-Bank, the bank "Uralsib". The interest rate is currently determined by four key factors: currency loan, the size of down payment, a form of confirmation of the borrower's income and the loan term. Among the banks absolute harmony reigns in one - domestic money is more expensive than foreign ones, the lower the down payment and long term loan - the higher the interest rate on the loan. The average difference of 0.5% to 2%.

The capacity of the mortgage market by 2010 could reach $ 50 billion

Mortgage lending, though not yet become a mass phenomenon, but a bit exotic it already does not record. According to the Central Bank from 2003 to 2005 the volume of mortgage loans increased 7.5 times, and for the first half of this year has doubled. Now he is 110-115 billion rubles. Despite the difficult situation in the property market, the banks noted a serious increase in mortgage portfolios. Market Leader - Savings Bank - the first six months of mortgage loans in excess of 1.5 billion rubles. Mortgage portfolio DeltaCredit exceeded $ 350 million, "Last year we were given credit for 112 million dollars, and for the first half of this year - 116 million" - said the vice president of business development bank DeltaCredit Alla Tsytovich. According to her, this year we expect more than doubled. And a similar pattern can be observed for most banks. Triple their mortgages issued this year, intends to Absolut Bank. According to the head of mortgage lending center Sergei Dankova Absolut Bank, the Bank has already provided more than 2.5 thousand loans totaling $ 170 million According to experts, mortgages in a vast field for development. "According to Moscow real estate companies, up to 10% of all transactions in the market of the capital property is through a mortgage. This is despite the crazy price increase ", - said Alla Tsytovich. According to her, this contributes to income growth. According to Sergei Dankova, increased mortgage interest is also related to the fact that banks are becoming more loyal to borrowers: most do not require formal confirmation of income, registration and citizenship. "Moreover, in recent years, mortgage rates dropped substantially - from 14-15 to 10-12% per annum, significantly decreased and the initial payment.

"Mortgages may be available"

Get a free apartment in the capital is still possible, but only after standing in long queues. Who has the right to improve their housing and how long to wait for new housing? This "Moscow the prospect of" learned from the chief of the Monitoring Department of the housing market housing policy and housing census of the city, Dmitry Krasnov. - What is the current waiting list for housing in Moscow and many waiting to be provided with housing in this and the next years? - Capital - a metropolis with a population of many millions, and it is understandable that people who want to improve their living conditions in Moscow is much more than a small regional center. It should also be noted that unlike many other cities in turn improve the housing conditions in the capital moving. We now have three categories of waiting: in need of better housing - are residents of the city taken on record before the entry into force of the Housing Code of the Russian Federation (up to 01.03.2005) in need of accommodation - from Moscow additions to the waiting list after March 1, 2005, and in need of assistance in the acquisition of premises. The former have the right to both the provision of housing for social rent agreements and the purchase of housing at an affordable price, the second - to improve the living conditions of contracts of social hiring or free use, while others may take part only in the onerous municipal housing programs. Those wishing to get an apartment is really a lot. Each family has to wait for housing an average of 20 years.

Beyond the threshold of the crisis: liberalization within reasonable limits

By the end of summer 2010, it became clear that the apparent liberalization of the mortgage market is fairly well defined borders. The main achievement was the reduction in interest rates. Since bank liquidity is now at its peak, the lenders have allowed themselves to curb the appetite. Another positive result of the market crisis include widespread floating rates. Moreover, the bitter experience of the crisis has forced them to use a more civilized manner, setting the limit on the maximum rate of increase, as is customary in Europe and the USA. In Russia, banks offering floating rates before the crisis, do not feel the need to consider this important point. As a result, customers hankering for the savings to pay for credit, and banks themselves have a lot of problems when you change the base rates in late 2008 - early 2009, increased by several times due to the panic in financial markets. With regard to reducing the down payment, you can see that the example of two leading players in the face of two state banks was not as contagious as it might seem at first. In the end, very few banks have decided to omit the initial payment is less than sign plates in 30% of the cost of purchased housing. To this came the banks that seek to increase its market share in any way. But those who still dare to depart from the standards, most of them have lowered the minimum down payment amount only to 20%. It's Absolut Bank, AMT Bank, Bank Societe Generale Vostok (BSGV), VTB 24, banks' DeltaCredit "," Eurofinance "," ZhilFinans "and" MIA ", Nordea Bank, the bank" Opening ", Rosbank, Sberbank, Svyaz-Bank , SMP Bank, Unicredit Bank.

Banks will be able to refinance any mortgage loans

Agency for Housing Mortgage Lending (AHML) launched a new program under which the banks will buy mortgage-backed bonds issued for loans. Including granted not by the standards of AHML and home purchase in the secondary market. While the agency plans to spend on this program 20 billion rubles. from its own funds before the end of 2012. Market participants call this modest sum, considering that only next year, bankers are prepared to issue a mortgage for 550 billion rubles. According to the plan AHML, a new program to encourage securitization and the issuance of mortgage loans, adding to the standard program of refinancing. "It will be a new form of refinancing, which the agency offers primarily large and medium banks, including the unemployed, according to our standards," - said General Director Alexander HMLA Semenyaka. Under the new program, the agency plans to redeem the senior tranches of mortgage bonds, which have the highest reliability in the structure of production. In this case all the risks of quality pool of loans (the risks of defaults) are focused on the junior tranche, which bought out the originator company - which forms the mortgage collateral. Bonds must be denominated in rubles, have at least one long-term credit rating not below BBB-(classified Fitch) or joint and several guarantee AHML. The volume of tranche shall be from 1 billion to 5 billion rubles. The program includes purchase of securitized loans not by the standards of the agency and issued to purchase housing on the secondary market, said the AHML.

Investors demand to buy troubled mortgages

The group of institutional investors requires the Bank of America to buy mortgages, acting as security for the bonds in the amount of $ 47 billion mortgage loans were issued to the agency Countrywide Financial, which acquired a bank in the midst of crisis. Investors threaten to go to court. According to U.S. media, with investors seeking to buy BofA troubled mortgages, appear influential American company BlackRock, PIMCO, Metlife, as well as the Federal Reserve Bank of New York, became the owner of the securities in the course of rescue operations for financial services companies. They all claim that suffered losses due to the fact that Countrywide does not have coped with the task of paying agent on mortgage acting as collateral for bonds in the amount of $ 47 billion for a number of these loans defaulted. Investors insist on the fact that many mortgages should not have been act providing for the issue of bonds, since they do not meet those standards, which were reported to investors buying these securities. With such abuses were carried out in a total of 115 transactions. "We - a group of determined and collaborating der zhateley bonds. We have a clearly defined strategy. We intend to vigorously pursue this initiative, according to the rights of bondholders, "- said the representative investor, lawyer Kathy Gibbs & Bruns, Patrick. According to JP Morgan, total payments of banks to purchase mortgage loans, providing speakers, which came with the beginning of the crisis of non-payment, may reach $ 120 billion

The Russians felt the appetite for mortgages

The volume of the 2010 mortgage loans continues to recover gradually returning to pre-crisis levels. HMLA reported on the process of reducing mortgage rates, the level of which can reach pre-crisis levels. However, market experts believe that hardly expect more generosity from the banks in 2011. According to the AHML mortgage market continues to recover Russia: over 11 months of 2010 the volume of mortgage loans by 2.5 times exceeded the volume of issuance in 11 months of 2009 and amounted to 315.1 billion rubles. Rates on mortgage loans in rubles, issued during the month of November 2010, compared with September 2010, down from 13.2% to 12.6%. This value is below pre-crisis figures, the average rate of mortgage loans in rubles in January-October 2008 was 12.7%. According to experts, in 2010, the accumulated amount of mortgage debt on mortgage loans on banks' balance sheets reached a historical high of 1.1 trillion rubles (up to a maximum value of this indicator in 1.09 trillion rubles was observed on 01.03.2009.) Seasonal spikes According to the study AHML dynamics of mortgage loans in Russia for the first 11 months of 2010 shows that the recovery of the mortgage market continues. According to the Bank of Russia, in November 2010 granted 34,050 mortgage loans totaling $ 42.3 billion rubles. A total of 11 months of 2010 issued 252 072 mortgage loans totaling $ 315.1 billion rubles.

A brief overview of the major mortgage programs

The most common mortgage programs in Russia - are loans for the purchase of finished apartments as they are called banks to describe their products - "on the secondary market." Today, however, the proposals range of key market players encouraged potential mortgage borrowers a variety of proposals. Almost everywhere, offered loans to buy apartments under construction, some less, but more often come across offers pawn loans - secured by existing real estate loans for the purchase of country houses, plots of land. Individual banks in pursuit of a client willing to lend such an unknown in the pre-crisis period as the acquisition of exotic rooms, shares in housing, garages, cars, commercial real estate. For example, loans for the purchase garages offer VTB24 parking - Sberbank. Moscow Bank of Sberbank of Russia in avgusteobyavil readiness to lend for the purchase of shares in the housing. In particular, to obtain a loan to buy commercial real estate secured by real estate can be purchased in Absolut Bank, Credit Bank of Moscow, Rosbank, the bank "Uralsib" and Khanty-Mansiysk Bank. Still reluctant to offer reconstruction refinancing (refinancing) loans to other more favorable terms. Most existing programs at the moment in terms of attractiveness for borrowers to look dubious, and in some cases, is simply meaningless, because the proposed rates are higher than the average.

Mortgages began to decline

In the past year, Russian banks have helped developers and realtors Moscow to increase the number of transactions in the housing market in half. Thanks to the liberalization of the mortgage amount want to buy apartment buildings in the capital increased in the second half of the year by nearly 20%, estimated by experts of the Consulting Group "NEO Center." Nevertheless, the growth rate mortgages fell short of expectations of market participants who expected to return about a quarter of clients from the pre-crisis level of borrowers. In the second half of 2010, the mortgage market in Moscow and Moscow region has shown a tendency to grow confident and Development, said the study group "NEO Center." Number of people willing to buy housing in the primary market of real estate capital region with the help of loans increased by 18%, says manager of residential real estate assessment department "NEO Centre" Marat Abdullin. So, with the July 2010 increase in the volume of transactions in one-room flats was 7%. In total purchases in the market of the Moscow apartment housing has traditionally lead economic class, which accounted for 86% of transactions involving mortgages. Buyers of business class sought help banks in 10% of cases, while the share of transactions in the market of luxury housing in the total amount of mortgage lending was only 4%. According to the "NEO Centre" for the first nine months of 2010, banks lent 234.2 billion citizens to rub., Which is 54% higher than last year (152.5 billion rubles).. Nevertheless, recorded in the second half growth rate mortgage does not meet the expectations of participants of the Moscow real estate market.

Growth in the square

In Russia, there is a rapid recovery of the mortgage, which can become a major source of stability in the banking sector. Restoration of the form by the end of 2007, nearly a quarter of total retail portfolio of Russian banks (about 1 trillion) accounted for mortgage lending. The crisis caused mortgage lending fell by about a factor of eight. This year, newly mortgages began to rise. In the third quarter of 2010, Russian banks have issued about 150 billion of mortgage loans that exceeded six times the minimum level of crisis of the first quarter of 2009. This figure is a bit shy of the record before the crisis than in 2008. The reasons for this rapid recovery of the mortgage market in the special advantages of mortgages compared to other banking products. No renewal of crediting banks are doomed to slow death, as it is interest income from loans for most of them are a major source of profit. Because the demand for retail loans is quite stable, which makes this a very attractive market segment in terms of growth potential. Moreover, the demand for retail loans primarily formed not the wealthiest segments of the population, many of whom are state employees who receive a small but stable income. This stability provides a high repayment of retail loans. Availability of reliable supply in the form of real estate and accuracy of most borrowers make mortgage one of the least risky bank products.

Curators of mortgage borrowers will solve the problem before the new year

ARIZHK until the end of December 2010 is going to decide whether a renewed program of restructuring of mortgage loans to borrowers on social criteria. In 2011, the agency is going to work on a new, more active program, and warned that it would be hard to deal with those borrowers who do not want to fulfill their obligations. As told today, December 13, CEO Andrew ARIZHK Languages ​​for two years of credits 7.5 ARIZHK optimized thousands of borrowers in the total amount of 11.7 billion rubles. In total, according to Yazykov in ARIZHK paid 40 thousand people, of which 10.8 thousand were in need of restructuring, 8.5 thousand turned it on social criteria, 7.5 thousand - really got help, and for 3 five thousand restructuring process has ended. For those who came of "ARIZHK" restructures distressed mortgage loans under the program of state borrowers in difficult life situations. The authorized capital of the Agency is 5 billion rubles. The owner of 100% minus one share of AHML is the holder of one share of the Association of Russian Banks. Not social, but actively Andrew Languages ​​explained that the restructuring program quite in demand, but in 2011 the agency plans to send more work to work actively with the creditors. Language explained that ARIZHK launch a new program - "active restructuring." "Under this program will get any credit, which we will give the lender.

The Americans en masse are selected mortgage housing

In the U.S., financial institutions have withdrawn more than a million homes through mortgage debt, a new negative record of the Americans. However, analysts do not consider the situation dangerous, believing that as long as the debtor in the main part with excess housing. However, if the trend will increase, this would indicate a growing level of unemployment and a new spiral of the crisis in the world. Americans who can not repay loans, are forced to part with housing. According to RealtyTrac, over the past month in 2010 to collect a debt was seized about 7 thousand apartments, and the 2010 general 1.05 million homes. The numbers are impressive. This is a record since the start of "inflating" the housing "bubble" in 2006. 1.05 million homes - is 0.8% of U.S. households! In 2011, the expected further growth in these notices. In autumn 2010, regulators in the U.S. have attended a large number of seizures and passed a resolution suspending the process. Restrictions related to the use of robotics in decisions about withdrawal of bank buildings and verify the legality of drafting. "However, just kind of soften the suspension process. Banks, checking documents, finding that the process must still occur, and withdrawal of homes can go on. The fact is that unemployment in the United States remains a great financial and violators of mortgages is still a lot" - says on this occasion senior analyst "Zerich Capital Management" Oleg Dushin. Global seizures of homes, of course, very large, as an analyst bank "Soyuz" Vadim Gorbunov.

Mortgages: rates are lower - the requirements above

The mortgage market in Russia comes to life faster than a building. Itar-Tass correspondent decided to ask the participants in the mortgage market, as they assess the results of the year and see what the prospects for next year. This year has ceased to be a year of desperate struggle for mortgage customers. This is the result of operation of JSC "Agency for Housing Mortgage Lending" (HMLA) as a development institution and banks. It seems that the customers, leaving two years ago, his desire to buy a home, we decided that the housing problem must be addressed if necessary. Analysts HMLA recognize that the slow recovery of the construction sector - indeed a very important factor. The construction sector suffered the most during the crisis, as completely dependent on the state of domestic demand. Despite some positive signals (growth of industrial construction, renewal of credit builder ", the total new housing in the country in the first three quarters of 2010 amounted to 33 million square meters. M of housing, or 5.5 percent less than the same period in 2009, and construction investment today will yield a 'return' in the form of houses built not earlier than 2-3 years. HMLA before back in 2009, was tasked with the development of the primary market, and in 2010 the agency began working on in order to increase lending to new buildings and create demand for mortgage loans issued for purchase of apartments in newly built or constructed housing. This year's proposed market HMLA new program called "New" at which mortgage rates - between 11% and below, and thus provides an additional deduction of interest rates for certain categories of borrowers.

Can I sell the house, which is pledged to the bank

Many Russians are the owners of the mortgage apartment. There are situations when this housing must be sold to, for example, to buy another more expensive. Such a deal is possible, but it has some characteristic features, which are ready to tell 100Kreditov specialists. First, you can sell the apartment, but only with the consent of the mortgage bank. Secondly, we must be mentally prepared for the fact that the procedure for selling the mortgage property - the process is not too fast and difficult. You must first meet with an employee of a financial institution. The banker will tell his client about any conditions that must be done to ensure that the mortgage bank has agreed to sell the apartment. Of course, we must first recall the period of the moratorium on early repayment of the loan. If the moratorium has expired, only if it makes sense to keep the conversation going on. There are several options for housing sales in pledge for a mortgage bank. First, we consider the most common. In practice such a scheme selling meets more often, because it is less risky for financial institutions. After obtaining a mortgage bank agreement for sale housing, and after ascertaining the amount owed on the loan at a certain date, the borrower enters into with the buyer flats tentative agreement, which must necessarily be notarized. The buyer pays the debt on the loan at the expense of a mortgage bank, so credit is repaid. Mortgage bank gives a borrower a mortgage and certificate of non-credit debt.

Mortgages: new-old "taste" of credits

"Housing Problem", tormenting millions of Russians since the Bolshevik Revolution, can be solved only in the presence of a variety of credit instruments, say respondents VIEW-Property market experts. At present he is one - the mortgage. Rates slowly but declining, but they can take much more. The website of the Central Bank of Russia reported that at the end of 2010, Russian banks issued mortgages on average by 12.6% per annum, while in January-September 2008, the average rate was 12.7%. Thus, judging from the reports, the stakes today are very close to a record low - 12.4% per annum, which was recorded just before the crisis in autumn 2008. "It must be remembered that the mortgage is our main" overclocking tool "for housing prices" To date, the record has grown and the volume of loans, according to CB: on banks' balance sheets is 1.1 trillion rubles of mortgage loans. In January-November 2010 these banks had issued loans worth 315 billion rubles, more than 2 times ahead of 2009 figures. According to the newspaper "Vedomosti", the proportion of loans overdue by more than one month to less than 9%. In this case the external welfare experts believe that this year's growth may slow due to a decrease in the supply of new buildings. Moreover, because of the expected growth rate of the Central Bank refinancing rate mortgage may also become more expensive. According Kreditmart the lowest rates today at the Savings Bank - 10.5%.

Every seventh mortgage in Russia was overdue

The Russians, once considered reliable mortgage lenders, such no longer. During the crisis, one in seven issued in 2006-2007. credit had to restructure, now expired, one in ten in 2009-2010. to restructure mortgage loans needed more 63 400 borrowers. So many requests for advice received by the Agency for Restructuring of residential mortgage loans (ARIZHK), said agency CEO Andrew languages. 45 000 borrowers restructured loans. Almost one fifth (about 8500) made it through the agency, and the rest agreed with creditor banks. Language pointed out that most of the complaints came from the restructuring of the borrowers who took loans in 2006-2007. Statistics on the number of mortgage loans of the Central Bank has since 2008 according to Rosreestra, 2006-2007. have been issued about 328,000 mortgages. Thus, it appears that through the restructuring process was one in seven loans. True, some banks issue mortgages without issuing bonds. Therefore, this figure could be lower, said the head of the analytical center AHML Anna Lyubimtseva. But it also points out that, according to the HMLA the end of 2010 was one in ten overdue mortgage. Prior to the crisis situation with payments on the mortgage was completely different. Delay on it did not exceed 1%. The increase in delinquency on the mortgage crisis has affected a number of reasons, said a member of the Board of Raiffeisenbank Andrey Stepanenko. A significant portion of the loans was involved in a currency other businesses to obtain loans secured by apartment, part of the funds are raised in floating rate tied to money market rates.

Mortgage sued for money

The mortgage market has demonstrated in the past year more than doubled compared with the previous period, from the data of the Central Bank. But most importantly, for the first time since the crisis reduced the failure of mortgage loans - in December last year, its volume decreased from 44.6 billion to 41.6 billion rubles. The volume of the 2010 mortgages in two and a half times higher than the previous year, to the materials of the Central Bank - 378.9 billion rubles. against 152.5 billion rubles. True, it is 42% less than were issued in 2008 - 655.8 billion rubles. Two major players in this market have given almost 220 billion rubles .- Savings Bank has issued mortgages worth 185 billion rubles. VTB 24 - 31.7 billion rubles. Reported in these banks. At the five largest banks account for 54.2% of the total amount of mortgage loans, on the other banks that are among the top 200 - 35.1%, follows from the statistics of the Central Bank. 2010, especially the second half, was a period of recovery of the mortgage market, says vice-president of VTB 24 George Ter-Aristokesyants. "It certainly has led to action those banks that were active before the crisis, and" frozen "in a difficult period, and contributed to the yield on the mortgage market of new players" - the expert continues. He adds that during the crisis, mortgages actually were given only Sberbank, VTB 24, Gazprombank, and several commercial banks, and now the number of active players in the mortgage market is estimated in dozens. At the same time the mortgage until December showed deterioration in the quality of service.

Leading mortgage banks summed up in 2010

Analytical Center of Rusipoteka published a ranking of leading mortgage banks on the basis of work in 2010. As in previous years, the leaders began to banks with state participation. The first two lines rating of Sberbank and VTB 24 occupied. Third place went to Gazprombank, the dynamics of which can not fail to note - the most successful for the Russian mortgage bank in 2008 finished outside the top ten. Competition state banks amounted to a mortgage bank DeltaCredit, which for several years consistently ranks among the market leaders. Closes the top 5 mortgage banks Zapsibcombank, who managed to oust TransCreditBank. Also in the top 10 include Bank Renaissance, UniCredit Bank, Bank Societe Generale Vostok (BSGV), Bank Zhilfinans - banks traditionally occupy a stable position in the mortgage market. The results of the banks in the mortgage market over the last three reporting periods are as follows. 2010 6 months. 2010 2009 Bank Name Amount, million rubles. Name of Bank Name of Bank 1. Savings 184 500 1. Savings 1. Savings 2. VTB 24 31 732 2. VTB 24 2. VTB-24 3. Gazprombank 16 677 3. Gazprombank 3. TransCreditBank 4. DeltaCredit 10 679 4. DeltaCredit 4. DeltaCredit 5. Zapsibcombank 7428 5. TransCreditBank 5. BSGV 6. TransCreditBank 7190 6. IBC 6. MIA 7. Revival of 4981 7. Zapsibcombank 7. Rosbank 8. UniCredit Bank 4939 8. Bank Zhilfinans 8. Bank Zhilfinans 9. BSGV 4518 9. Bank ITB 9. Nordea Bank 10. Bank Zhilfinans 4381 10. RosEvroBank 10. Investtorgbank Talking about the dynamics of the mortgage market, it is worth noting that the number of banks that exceed the level of 1 billion annual issuance in 2009 was only nine, while in 2010 they became for nearly forty.

Mortgage and rent: the status quo is preserved

«mortgage rates down and come close to the pre-crisis levels," - such an optimistic statement titled his recent article by journalist Julia Pogorelov (see "Money", January 31, 2011). I agree, and even one-off this wonderful idea: according to the latest statistics of the Central Bank, our mortgage pre-crisis average rates abroad have already overcome. But this is nit-picking, irrelevant to the essence of the issue. The main message, which led me to this time, "take up my pen," Ms. Pogorelov presents in the first sentence of that article. "But - she writes - mortgage payments on standard loans are still more than twice the rent payments." And this is generally correct, it is important as it is interpreted. So, it is treated with the author of the article using the phrase, which is appropriate would be for the solemn funeral prematurely deceased Russian mortgage: "It is obvious that from an economic point of view is preferable to hire a mortgage." That this would like to argue. How would it delicately explain to me the distinguished journalist, that a head-on comparison of annuity payments mortgage with rental payments not correct? In any annuity, are known to have two components: one that goes to paying interest, and one that repays the principal. We also know that the first component, which, in fact, referred to as overpayment for housing to be purchased on credit, dominates only in the early stages of service credit. If you look over the entire period, it is not yet known what charges there will be more.

Bank mortgage venture

CB changed my mind radically toughen approach to risk assessment for mortgage loans. In addition to reserve capital banks will have only a very large mortgage loans. Thus, the regulator is not only insure banks against the risks of a sharp depreciation of luxury homes, maintaining a mortgage as a business interest to banks, but will have a tool to combat schematic mortgages, experts say. About the upcoming mitigation approach to risk assessment for mortgage loans, compared with the original hard plans "b" the director of the department of banking regulation and supervision of the Bank of Russia Alexei Simanovsky. According to him, in a new working version of the amendments to the 110-user (the mandatory regulations of banks) it is about to establish an increased risk ratio 150%, not all mortgage loans with low, according to the regulator, ensure quality, but only for those whose size is significantly higher than average (for example, more than 50 million rubles).. Thus, compared to the original proposal had been discussed today will be more balanced approach, said Alexei Simanovsky. According to him, the maximum risk factor of 150% will be applied only in the presence of two factors: the lack of quality and security (the ratio of loan / mortgage is greater than 80% initial payment is below 20%), and large loans. If there is only one risk factor will be applied 100%, in the absence of both factors - the reduction factor of 70%.

Mortgage Bank. Sale of mortgage housing

The owners of mortgage housing is a sufficient number of Russians. Sometimes a situation arises where people are willing to sell this house to buy another, such as an apartment or house a greater area. Such a deal is possible, but it has its own characteristics. First of all, this housing can be sold only with the consent of the mortgage bank. You need to be alert to the possibility that the process of selling real estate mortgage may take a long time. First you need to meet with employees of a mortgage bank and get information about what conditions need to do to get permission to sell the home. The main condition is a moratorium on early repayment of a mortgage loan. In the event that this period has expired, you can solve any further questions. Mortgage lender can offer several apartment sales, which is in his voice. The most common is the following: to determine the amount due on a mortgage on a specific date and received permission to mortgage bank apartments for sale, the borrower signs a preliminary agreement with the buyer housing, mandatory notarized. The buyer then pays the debt on the loan by transferring funds to financial institutions - the lender, thereby paying off the mortgage loan. Such a scheme selling mortgage housing is found in practice, most often because it is less risky for the lending institution. In turn, the mortgage lender gives the borrower a mortgage and a certificate which confirms the absence of debt on the loan.

Anti-crisis recipes for the borrower on the mortgage

Credit euphoria swept the Russian population, as in many other countries two years ago. While mortgage lenders are very loyal to the borrowers and many families arrange the loan for housing, even in cases where payments on the loan amounted to about 60% of the total family budget. However, the situation in which more than half of household income spent on debt repayment, is quite dangerous, because any reduction in the borrower's income can lead to financial collapse and an inability to pay the mortgage. What exactly happened during the crisis. To date, the problem with inability to repay the loan, taken in the mortgage bank, having a large number of the population. The economic crisis has played, in this case, the most important role. Some domestic citizens are unemployed, many of wages has fallen. At the same time, increasing the country's inflation and appreciation of the dollar led to an increase in fees for credit for people who have issued it in foreign currency, and receive wages in Russian rubles. What you need to do to people, loan repayment on the mortgage for which it became a burden? The specialists of financial institutions give some advice. First, the borrower should contact the mortgage lender, and in any case should not waste time and even more to hide. Debt is not going anywhere, and the situation could get worse many times. Employees of the mortgage banks offer several different ways, allowing the borrower to reduce monthly payments.

When advantageous mortgage installments?

The fact that Russian banks are constantly improving the conditions of mortgage lending, the media reported almost daily. In October 2010 fell significantly from mortgage Sberbank and VTB 24, Gazprombank has reduced the amount of the initial payment, and canceled the VTB 24 additional charges. Can the developers to offer more favorable terms than the bankers? To date, some construction companies are offering to buy real estate in conditions close to the mortgage of the major banks. Thus, the installment plan is available for 3-5 years or more, while rates on loans remain relatively low. According to experts 100Kreditov now most of the housing in the primary market, sold it with the use of installment. To attract customers and compete effectively with other lenders, developers use all the more attractive options for borrowers installments. For example, customers can choose a convenient debt repayment schedule within 1-5 years. In installments developers prefer to sell real estate under construction. Taking into account the wishes of the borrower, a schedule of payments, which should make the buyer. For example, funds may be paid monthly or quarterly. In some cases, the regularity of the payments depends on the pace of construction. However, in most cases, the cost of housing must be paid before delivery of the building. Borrowers are willing to pay the debt in 1-2 years may be eligible for concessional lending terms and a special price on accommodation. Moreover, people who just pay 50-70% of the property price, many construction companies provide the ability to repay the outstanding balance on an interest-free basis.

In the regions are looking for ways of residential mortgage lending

The government intends to encourage the reduction of interest rates on mortgage bank loans. This was at the March Forum in Bryansk, said Prime Minister Vladimir Putin said, recalling that the development contributes to the growth of mortgage housing. "RG" explores what being taken to strengthen this segment in the region. In 2010, Russia was granted 290,000 mortgages totaling about 370 billion rubles. This is 2.4 times more than in 2009, but almost half less than the record for the sector 2008. Then the amount of mortgage loans amounted to nearly 656 billion. According to the agency of mortgage lending (HMLA) last year due to lower cost apartments, reducing square footage and the tightening of banks' claims on borrowers (in particular, on the amount of down payment), the average size of mortgage loans decreased. A large part of them was obtained for purchases on the secondary market: the volume of transactions with new housing in 2010 was three times less than in 2008. The development of the mortgage is heavily influenced by structural changes in the banking sector to replace the small local institutions offering the citizens of interesting mortgage products, come branches of major banks. This process leads to the standardization of credit conditions. In 2009, the average rate on the mortgage was 14-14.5 per cent and above, but now has dropped to 12,6-12,7, almost pre-crisis level (12.5 percent). Its further reduction is planned to be secured through federal programs to stimulate the mortgage worth 250 billion rubles, the implementation of which will deal with HMLA and Vnesheconombank.

Why loans for housing becomes available

Government actively promotes the purchase of apartments in new buildings by buying banks' mortgage loans at 11% per annum in rubles for a term of 30 years. But banks have their ruble and programs with interest rates below the state. In addition, on the market today introduced a program of liability insurance of the borrower, which should reduce the risks of banks, and hence the rate. However, while all these measures are accessible to the mortgage did not. In mid-February, Sberbank began issuing loans under the program "Mortgage with state support." First joined the program VTB 24, who started working on this scheme since June last year. According to estimates VTB 24, since the program started around 3500 the bank provided loans worth more than 5 billion rubles. To date, the proportion of programs accounted for more than 50% of the loans for the purchase of housing under construction and about 20% of total loans at the finished home. In addition to the Savings Bank VTB 24 and the implementation of state programs and engaged in Gazprombank "Uralsib". The program aims to support the primary real estate market - mortgages at discounted rates can be arranged for the purchase under construction or built premises in the legal entity (developer or investor). "This program may be of interest primarily to banks, finance specific construction projects of housing types, particularly in regions distant from Moscow and St. Petersburg, because the banks are interested in the redistribution of credit risk with the developer on private individuals.

Mortgage broker profession

Quite popular in recent years has become a mortgage broker profession. This person - the mediator, the assistant-to-date on the issue date of registration of mortgage loan. But manifests itself as a mortgage broker, in fact, and that it is his duty? Consider these issues step by step: How it works a mortgage broker is the same everywhere. Initially, during the conversation with a client who intends to take a mortgage, it turns out, what kind of apartment he intends to buy, what sum of money has at the moment and how much to pay each month to calculate the loan. Next, we consider the options offered to explain the mortgage loan borrower, what would be required documents, certificates, bank statements for the design and where to get them. Since the banks, there are many nuances with the required documents, mortgage broker can tell right away that still might need. For example, the list of documents required by the bank can not be referred to the information confirming the payment of previously issued loans. Least of the fact that a mortgage broker rather well informed about the services provided by the bank and was aware of the real estate market situation better than banks. So he can pick the most efficient variant of the transaction, thereby saving you money, time, and, most importantly, nerves. If you already have a house and you want to take credit for the improvement of his condition, then no one will solve this problem better than a realtor.

The essence of social mortgage

Oddly enough, in our advanced age, the queue for public housing are not sunk into oblivion. A lot of waiting, yutyaschihsya in privatized flats and room, still waiting in the queue for public housing. However, in recent years the state has virtually ceased to provide free housing to people in need of better housing. Instead, create a sufficiently flexible mechanism for allocation of lump sum benefits for housing. This is - a social mortgage, which gives people a chance to get accommodation in the property. But to take advantage of social privileges may be only those people who are officially recognized as in need of better housing conditions and have proof of their low incomes, which is certainly not enough to purchase a house on their own or take an ordinary mortgage. It would seem that social loan provides a great opportunity for all, under these conditions are suitable, to obtain housing in the property. But not so simple in this matter seems. Instead of down payment, mortgage offers a social issue of state subsidies for housing, which is typically an order of magnitude below the actual market value of the dwelling. You always have to either pay more for an apartment of their own pockets, or arrange it through a bank. The advantage of this design is that the bank interest in this case is lower than usual percentage of the loan.

The Bank of Russia has insured mortgages

The Central Bank eased reserve requirements of mortgage loans with a 10 percent down payment if the borrower's liability insurance. Thus, the banking regulator is trying to encourage the development of insurance software corporation AHML, which was launched last year, but has not yet demonstrated significant success. However, banks are still skeptical about the idea of ​​financial risk insurance for the mortgage. Yesterday the Central Bank published on the official website of the draft amendments to the 110th instructions "On Banks' Required Ratios. It follows from this that the Central Bank establishes an increased risk ratio for mortgages valued at more than 50 million rubles., An initial fee which ranges from 10% to 20%. In this case, the bank will have to evaluate these assets by a factor of 150%. However, the Central Bank made a dispensation allowing the rate set at 100% when the initial payment on the mortgage is greater than 10% but less than 20%, provided that this difference is insured by the insurer with an international rating of no less than "BB", or at least 50% risk of payment transferred to the reinsurer, which is majority owned by the state. The size of the risk coefficients for various assets of the bank affects its capital adequacy ratio (N1), which limits the activity of the bank in lending. Decrease below the minimum level H1 (10% for large banks in terms of capital, 11% for medium and small) can lead to serious sanctions of the Central Bank. Thus, the Bank of Russia at the regulatory level approved by the agency of mortgage lending (HMLA) scheme of financial risks insurance of the bank and the borrower with an initial payment of 10%.

Block of apartments free

To Rzhevka began building a new quarter, all the houses which will be social. In the post-Soviet era construction budget of this magnitude in St. Petersburg was not conducted. Populate the quarter will be in accordance with the decision of the administration of 21.09.04 № 15-86 "On the Action plan to resettle residents of St. Petersburg of old and dilapidated funds for 2004-10 years." It is not excluded that the apartments on the waiting list will also receive Rzhevka and Chernobyl. In total, there will be 4,700 to settle. The city will provide apartments for free with the right of subsequent privatization. It should be noted that the budget homes in the area were built Krasnogvardejskiy before. In December 2003, the State Commission has already taken on a Powder Rzhevka-like object - the 179-apartment house at Khasan Street (building 22, Bldg. 1). Studio 50 on the social sphere Quarter Rzhevka limited avenues Enthusiasts, Kosygin Street and the Industrial Osipenko. Here, in an area of ​​7 hectares, will erect six 17-storey prefabricated houses 137-series of apartments with improved design. The total living area of ​​the buildings will amount to more than 113 thousand square meters. Bookmark m. utilities have already begun. For works in 2004 budget allocated 23 911 thousand rubles. In 2005 it is planned to commission the first house of 30 thousand square meters. m. The other two - an area of ​​27 and 37 thousand square meters. m - will be ready for occupancy in the first half of 2006. The last three point of the building (the area of ​​each - 6.5 thousand square meters. M) will pass in 2007. According to head of design documentation of the Construction Committee Gennady Karasev, accommodation and subsistence in a social quarter would fully comply with SNIP.

The land in Sochi

In recent years interest has grown substantially Sochi. According to statistics provided by the experts manage the resort and tourism, this summer traffic to the resort town vacationers increased by 15% than the same period in 2003. Which, of course, is reflected in the growth of demand for land and real estate in Sochi. Land near the Black Sea start an active interest in a growing number of holidaymakers. According to the company, "ASTA Elite" in the last year in Sochi, there was an increase in demand for land by 60%. The structure has four Greater Sochi area - Central, Hostinsky, Adler and Lazarev. Central District ranks first in popularity among the areas of Greater Sochi and has the highest level of land prices. The main factor that increases the cost of land is its proximity to the sea and the center. Also on the value of the land affected by such characteristics as: environment, infrastructure and ecology. The cost of land that are ideal for the construction of luxury apartment complexes and apartment buildings range from $ 30 up to 80 thousand sq.m.. According to the traditional areas are of interest located within no more than 1 km from the sea. The most popular among investors and investment and construction companies, land use, located in the central region and a part Hostinsky district, which borders directly on the central as well as land at the ski resort of Krasnaya Polyana. The absence of tracks in the Central region, passing through most of the coast of the Big Sochi, also is a clear advantage, reflected in its appeal.

"Youth - Affordable Housing»

The next twelve participants in the social program "Youth - affordable housing" received new apartments in the house on Prospect Marshal Zakharov. According to the Housing Committee, today, five thousand young families want to acquire their own "nest" with the support of city authorities. The program "Youth - affordable housing", implemented under the federal sub-program "Providing housing for young families", is aimed at residents aged 18 to 30 years old, standing in the queue for housing. In this case the priority right to purchase apartments are endowed young citizens living in emergency homes, disabled and families with disabilities in its composition. To celebrate a new home, applicants must make an initial contribution of 30% of the market value of the apartment, and then return the debt the city on a monthly basis in equal installments over 5 years. City lends funded solely from the city budget. In 2004, the purchase of apartments for young families had spent 21 million rubles. In 2005 this amount will be doubled, and since 2006 the city promises to invest in the construction of "youth house" more than 100 million rubles. year. According to the governor, Valentina Matvienko, after five years, the program must be self-financing. On a draft of this document since 2001 have worked together for Housing Policy Committee and the Committee on Family, Childhood and Youth. After the abolition of these structures are finalized, experts engaged in the Housing Committee, who supervised the project and to this day.

That require the realtor?

It is vitally important issue for the client - the definition of the responsibilities and limits of responsibility of the agency in real estate transactions. Continuing the conversation about the professional standards of the Association of Realtors, St. Petersburg, find out how to answer it yourself market operators. The duties and responsibilities real estate firm says a lot. Introducing the appropriate section of today profstandartov ARSP, we generalize and structuring of their position regarding the functions of real estate manager in relation to clients. What to expect from the agent, for which he was responsible to the consumer? For each step of the transaction - a wide variety, time-and energy-intensive processes, the effectiveness of which is provided by the professionalism and dedication of agents, managers and employees of various real estate services firm. All the steps professionals should ideally be governed by certain rules. And the most basic - all actions are performed according to the realtor entered into the written contract with the client. Insurance straw for the client is not so important details of real estate "kitchen". The main thing for him - the security of personal material interests, responsible to him real estate firm. As this issue is being addressed in business and how it is reflected in the submitted standards? The main risks associated with customer two sets of factors. First - it's unprofessional actions of Realtors, which led to losses. In principle, the law firm responsible for the non-fulfillment of obligations. But only those that appear in the contract concluded with it.