Mortgage did not take. Will it live Russians in installments without the participation of banks?

The harsh climate in the property market prompted the Russians to recall the installment payment from the developer. If, before the financial crisis, buying a home with the assistance of a mortgage loan does not seem mythical, then collapse in credit programs buying an apartment at their own expense was not available 98% of the citizens. The only acceptable option is buying an apartment in installments, the proposed developers. How does the installment plan? Installment means that the buyer pays the cost of housing units within a certain time. Such a scheme is an alternative to mortgage lending and is a "credit from the developer." Installment existed before the crisis, but in those days her condition was much tougher. As a rule, builders offered to hire only up to the moment of putting the house in operation. Advantages and Disadvantages of Leasing Compared to bank loans, installment payment has certain advantages. To purchase an apartment is not required to collect a lot of papers and provide an income statement. Typically, the developer does not check the buyer's financial strength and is ready to conclude a contract of sale housing in installments upon presentation of a minimum package of documents - just one passport. Also in case of installment does not need guarantors, so registration of the transaction is much faster and easier. Among the disadvantages were the most significant installment debt maturity. Before the crisis, most developers offer installment plan for a maximum of 1-1.5 years, but today everything has changed. Why installment has become more accessible? Because of the collapse of mortgage programs potential buyers of apartments have been unable to borrow funds, and real estate developers, in turn, faced with a serious drop in demand. In this situation, developers had to find a way out of the predicament, offering customers the best conditions for the purchase of real estate. Deadline for installment plans increased to 3-5years, in this case was the real purchase in installments handed over houses. Installment payment was now more profitable than buying real estate mortgages. Bank loans for housing are given at least a 19-20% per annum despite the fact that developers are ready to hire a 12% or less, satisfied with an initial contribution of 5-15% of the cost of housing. Specialists Trade House "Sigma" is called the current situation in the housing market is unique for buyers. Besides the opportunity to purchase housing for low prices, customers have the ability to quickly and without too much paperwork to buy an apartment in the new houses handed over. Without the risks associated with possible disruption of construction time and "freezing" of the project. Projections for the future How much time will be advantageous to operate the program developers for the sale of housing credit, difficult to predict. Give the apartment with a deferred payment can only the largest developers, but they have limited resources for lending to customers. As soon as the banks are stepping up mortgage programs, the terms of installment will be much tougher than it is today. Since the new wave of demand raised by the availability of credit, immediately solve the problem with the sale of existing housing. At the moment, prices have stabilized and the economy emerges from recession peak, which was observed during the fall 2008 - summer 2009. This gives an indication of the imminent resumption of demand for housing, particularly in cities with higher living standards than in the regions.