Any apartment or house is a capital that can be used to significantly "expand living space." Buy another apartment or move to more spacious. Previously, people have changed, "with an additional charge." But today "surcharges" are such that without the help of a mortgage loan they just will not do. Banks today offer programs for customers who are speaking the language of bureaucracy, would "improve the living conditions." To add a little big Imagine a family that lives in a two-bedroom apartment costing $ 300 thousand and wants to separate a married son, bought a studio apartment for $ 150 thousand assume because of the small "white" income young families unable to obtain conventional mortgage. In this case the output can be lombard mortgage. The main principle of Lombard mortgage - registration in the pledge not to acquire, and the old, already existing, flat. Such a loan offer City Mortgage Bank, Delta Credit, Raiffeisen Bank, Investment Bank, "KIT Finance", Sobinbank, Moscow Credit Bank, Bank of Moscow Bank "Revival". First banks took the pledge as acquired and existing housing. And now give loans against only one apartment - the existing one. The loan is typically less than 80% of property value. 100% of the cost of housing is not offered by any bank. In our case, the required $ 150 thousand at 50% of the market price of $ 300 thousand loan to get quite real. If credit is taken for a period of 20 years at 14% per annum, the monthly payment would be about $ 1500. If the target pawn loan funds are available only to a specific purchase. In our case, the bank will provide proof of the fact that the borrowed money was acquired just residential real estate. This involves regular banking product in mortgage interest rates. That liquidity, and that - there is no collateral get a mortgage loan may not be the owner of each residential property. The subject of the mortgage - apartment, cottage or town house - must be liquid, that is, the bank must be assured that in case the borrower defaults, you can easily implement the pledge. Consequently, the property must be assessed by a specialist company to which the trust creditor bank. This service is worth about $ 100. According to the director to assess the real estate consulting group NeoTsentr Viktor Makarov, usually to an apartment in an apartment house banks have the following requirements: - an apartment should not be placed in an emergency the building, house listings in the demolished facilities. It is best if the house was built no earlier than 1970. In other cases, there may be problems - not all banks will accept small-sized apartments, apartments in Khrushchev's homes - apartment should not be exposed to unauthorized redevelopment - in the house should not be mixed or wooden floors - there may be problems if the apartment is already sold more than three or four times . Of course, the obligatory legal cleanliness of the object - can be difficult if one of the owners of apartments or persons entitled to use this room - a child or incapacitated citizen - can not be transmitted in real estate, which registered more than five people - if the house belongs to several owners All owners must give written consent to the transaction and act as guarantors of the loan - if the apartment in addition to its registered owner has some persons, they must have a notarized consent for the apartment as collateral - can not pledge in part or share of ownership. Interestingly, the new housing stringent requirements are not established. The new property can be anything, including in the house intended for demolition, or find a country house in the region, where the bank is not present. Underwriting: the word no one else believes tightening of banks' claims on borrowers affected absolutely everyone, including those wishing to take a mortgage loan collateral. According to observations by the head of mortgage real estate trends, "The Power" Victoria Naymushina, a year ago, a mortgage loan secured by existing real estate to get it very easily. The client only had to fill out a form and declare that he earns a certain amount. He received a loan even if the apartment belonged not to him but to his parents. Times have changed, and now potential borrowers Lombard mortgage loan underwriting process will go on general grounds and convince the bank that they can pay the balance purchase price. And now many banks will be pledged only property belonging to him personally. Less "me" on the big - Customers who wish to get money on the security of existing housing, to buy with a mortgage, for example, an apartment for children or for lease, we are marching, - says head of sales on the secondary market mortgage Russian Bank Sergei Borisov. - Also, there are clients that build Moscow apartment to buy a vacation home. But for those who just want to "unfreeze" the property, the Russian Mortgage Bank has created a loan product - a loan for any purpose. But he is not given to such favorable conditions as the target Lombard mortgages "Pledge Classic" and "Pledge of Country." Apart in the list of programs of the bank loan is called a "new meters". But it is not collateral, as does not involve a pledge of existing housing. It is designed primarily for those who want to sell the existing house and buy a better class apartment or larger area. For example, the family wants to move out of the apartment cost $ 200 thousand per apartment cost $ 300 thousand Given the cost of existing housing, it is necessary to take a $ 100 thousand in this situation is difficult to use standard mortgage products, particularly if the potential borrower's income can not arrange a bank. And technically it will be difficult to make a deal: we'll have to sell first, or old apartment and live in a rented until the realtors pick up a new and better housing, or convince the bank underwriters that you actually intend to sell the old house and repay the loan. Banking on it are very reluctant. "The only bank to offer mortgages secured by the acquired, rather than existing housing, but ready to take into account the possibility of partial repayment of the loan with funds from the sale of existing real estate, is Russian Mortgage Bank", - said Sergei Borisov. The similarity with the Lombard mortgage that the bank issues a loan only 90% of the cost of purchased housing. In practice, the scheme works like this: my family goes to the bank, where the underwriting process, and argues that it is able to repay a loan needed. Next, existing housing must pass the assessment procedure - in this example, its market value is $ 200 thousand in this case the bank is ready to give the family the funds needed to buy a flat $ 300 thousand, a rate of 90% of the cost of housing ($ 270 000) . Borrowings client gets straight to the transaction. There is another difference between the service "new meters" from the classic Lombard mortgage. The contract provides that the first six months the customer can not pay anything at the bank. This time is given to the relocation, repair, sale of old housing, which is both legally and physically possible for the free maximum price. In the event that a customer six months later still have not spent the first payment, the bank will require the early repayment of a mortgage loan. This is understandable: the first and largest payment most consumers credit "New meters" pay it out of the proceeds from the sale of old housing. However, the legal requirement to sell the old apartment bank does not show. Sum of the first, the largest payment, the bank expects the possibility of providing a sudden drop in cost per square meter. According to the bank, the old apartment that you want to sell, standing now $ 200 thousand may fall in price to $ 140 million (a fall in the cost per square meter 60% per year, ie 30% over six months). Such will be the sum of the first payment - $ 140 thousand are included here for the half interest credit use. The interest rate in the first half is about 14% after the first payment is reduced. Subject stable or growing market in the hands of the customer will additional funds ($ 60 million with the condition that the apartment will still cost $ 200 thousand), he may like to spend at their discretion, as well as to prepayment of the loan. No penalties for early repayment of the "New meters" do not provide further credit is paid off, as usual mortgage - annuity payments. Summary The main advantage of the "New meters" that the borrower has enough time and there is plenty of money to deal with their problems. With regard to the appearance of the products of which we spoke at the outset - the acquisition of a small apartment on bail is large, it suggests that the exit from the impasse of the housing there is almost always the case. And the housing problem can be solved without waiting for any favors from the state or a good uncle.
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