Hostage loan

When you contact the borrower's mortgage to the bank for a loan bankers carefully assess his credibility. But the happy owner of your own apartment or home has the right to expect special treatment from the bankers. Mortgage loan he can get at more attractive rates. With the pledge of more and cheaper Bankers do not hide the fact that the conditions for consumer loans secured by real estate favorably with those of an unsecured loan. "This is due to the fact that, given the lower level of risk, the bank can issue a credit to the client for a large sum for a longer period and a reduced interest rate" - explains the deputy chairman of Absolut Bank Oleg Skvortsov. "If we compare the non-earmarked loans secured by real estate with our consumer loans, the interest rates on loans to non-target a little lower, but its terms are substantially different, - the director of marketing and merchandising UniCredit Bank Sergei Tropin. - Loans secured by an apartment on credit can be issued up to 10 years and spend the money for any purpose at the discretion of the borrower. A consumer credit we give up to five years. And there is one major difference: The maximum amount of loans to non-target much more - up to $ 100 million or up to 2.5 million rub.. " The annual rate GE Money Bank mortgage range from 10.9 to 12.2 per cent per annum and the loan in cash - from 17 to 25 percent per annum. But in this case, the bank must require a certificate of the official income of the borrower, while loan with cash, it is not necessary. So the bankers insure themselves against possible foregone earnings on loans. True, the amount of credit secured by apartment (house) at most banks do not coincide with its market value. Most often, the borrower can expect 70-80 per cent of the market value of the pledged property. The majority of Moscow banks need to estimate the market value of collateral (apartment or house) conducted an independent appraisal company, but with an accredited bank. Usually, banks exhibit a requirement that the bank received as collateral apartment owned by a single person or couple. "Non registration of up to four relatives of the first round - parents, spouse, children, - says Vice-President, Business Development Bank" DeltaCredit "Dinara Yunusov. - Any other cases (for example, when a customer more than four children) in our bank considered individually. " "Children can not own the apartment, located in the mortgage from the bank - adds managing director unit" Retail Business "Bank of Moscow Alla Tsytovich - as recorded in the apartment may be with the consent of the bank." But when assessing the creditworthiness of a borrower in need of money, bankers are more willing to give money to someone who is already a happy owner of the property. By the way, mortgage bank as collateral for the loan can not only an apartment or house (townhouse), but the land, a house with land, non-residential premises, and even bill the developer for the primary market, as suggested by the Bank of Moscow. To house banks also impose some restrictions. Thus, the IMB warned that they will not take as collateral on the loan year, summer or garden houses, as well as individual houses built more than 20 years ago. And all these things must have a registered mortgage ownership. Costs, as most banks do not want to watch will be the same as the owner of real property will be secured in spending money. Therefore, nothing prevents a potential borrower to obtain money for repairs, and spend, for example, to build cottages or travel. "But credit to the targeted use of lower rates and the term of the loan amount, and more", - says head of marketing Sobinbank Anna Kaminska. However, as Oleg Skvortsov tells of Absolut Bank, in the case of mortgage flats as collateral for the loan for any purpose the borrower's costs are increasing - there is a need for non-life insurance and state registration of the pledge agreement, that is, an apartment or house. The most common purposes of obtaining loans secured by dwellings in the Moscow market, according to vice president of GE Money Bank Catherine Tuton, became not only loans to repair flats, but also for the purchase of the garage. "In the Moscow region garages are expensive - between $ 10 thousand to $ 50 thousand - says Catherine Tuton .-- And such amounts may obtain a loan secured by a dwelling." "Garage mortgages have not yet, and a loan to buy a garage on the security of existing housing is profitable and, most importantly, affordable scheme" - keeps it from Dinara Yunusov "DeltaCredit." In the mortgage sale, and the money in the business of their own homes often provide a ready and representatives of small and medium-sized companies to get money for business development. Banks work with those clients. "One of the main requirements to the borrower - the presence of a stable income sufficient to service the debt. If the owner of a small or medium-sized businesses meet these requirements, we will give him credit for the standard conditions for individuals", - says director of sales bank "KIT Finance" Julia Kostomarov. The proportion of such loans in the mortgage portfolio, "KIT Finance" is about 10 percent. The Bank of Moscow also frequently work with such clients, they must provide the bank statements on your company. The bank "DeltaCredit" work with business owners to normal conditions, but the credit rating of customers passes through the special scheme, it is recognized Dinara Yunusov. Sly mortgage scheme in the West borrowers - individuals - are also often used in the existing housing as an additional tool to deal with financial issues. At the same time, accumulating $ 50 thousand on their own, the borrower can take the "short" (for up to one year) and $ 20 thousand to buy an apartment or house. Immediately after buying it, can build the bank bought housing at least $ 200 thousand to pay off the "short" long, and then pay the debt to the bank for several years. Sometimes the client is a tank circuit is more advantageous than the classical mortgage, especially in time of the transaction. However, in the Russian reality to repeat this experience is difficult. "With this scheme there is a risk that the bank chosen by the customer, even if a positive decision on the possibility it will not take credit already purchased the house as collateral for the loan" - warns Oleg Skvortsov of Absolut Bank. "In order for this scheme to be meaningful, the rate on the loan secured by the apartment must be less than the standard mortgage - calculated Sergei Tropin of UniCredit Bank in Russia .-- And it is not so ..." Under the program, "KIT Finance" to apply a similar scheme also does not work. "The loan should not exceed 60 percent of the appraised value of the property - said Julia Kostomarov .- That is, in this case to lay flat cost of $ 250 thousand will not over $ 200 thousand, and for only $ 150 thousand when it is necessary to consider the additional costs the borrower to assess the housing, insurance, banking commission. The rest of the scheme is similar to the classic mortgage and any special advantages for the borrower does not bear. " However, according to Alla Tsytovich of the Bank of Moscow, to apply a similar scheme in the Russian reality is possible, if you find a bank that gives a non-targeted (Lombard) loans secured by real estate. "Here, the first debt ($ 200 thousand) shall not be issued bail of the apartment - tells it .-- In contrast to our Western legislation does not allow the secondary mortgage (lombard credit they'll give you just a" free "apartment). So what remains find someone you would $ 200 thousand without collateral ... "