Mortgages: Borrow six acres

The prices of land grow annually by an average of 15-30%. So even buying land on credit can be a profitable investment. But the land until the mortgage offer only a few banks. According to realtors, the interest of citizens to purchase land traditionally increases by the beginning of the summer: the townspeople drawn to nature. Grow and prices. Estimated agency general director Alexander Rway Krapina, land in certain areas of Moscow region (for example, Eastern) during the year, on average 20-30% rise in price. It turns out, successful acquisition of the chosen site even with the fees on the loan can be a good investment of money and pay back with a vengeance, says the director of retail business of the Moscow Credit Bank (ICB) Ludmila Saligina. The land is more expensive, however, loans to buy land for their mortgage banks and give a few new programs are rare. For example, last spring, a product appeared in the ICD, and this year - in the bank "Soyuz". Head of Department mortgage bank "Soyuz" avuncular Paul explains the appearance of product demand from customers. "Mortgages on land banks began to offer only about three years ago, while mortgage loans for housing have gone to the masses back in 1999-2000." - Recalls director of retail sales "Fosborn Home» Irina Maximova. Now land mortgage is issued for more severe conditions than the housing. "Usually, interest rate loans for land above the interest on loans for apartments for 1-2 ap more", - says the broker, Independent Mortgage Bureau Tatiana Mikeeva. The fact that banks consider land less liquid collateral, it is difficult to assess, deal with it more risky. Credit related costs for the land is also higher than from residential mortgage, experts warn. In particular, the assessment of collateral worth more. Fees for services for suburban real estate appraisers start at 7500-8000 rubles. But can reach up to 20 000 rubles., While an apartment in Moscow can be estimated for 3000-4000 rubles. According to the deputy head of mortgage lending RosEvroBank Ludmila Pestretzoff, estimate it could cost $ 3000, if a part made difficult landscaping: dug a pond, planted with perennials, etc. Credits to the ground and other differ rigor. Thus, banks require the borrower to pay yourself at least 20-30% of the area (rather than 10-15%, as in residential mortgages). Tough choices, but the main feature of land mortgage - specific collateral requirements. Banks agree to accept as collateral is not any plot. Usually, they like the land of settlements (for individual housing construction), or agricultural. But the bank "Revival" and BSGV not take a pledge from the category of agricultural areas. A bank "Soyuz" and "Zenith" additionally require a permit for construction of residential houses on agricultural lands. And no bank will loan to buy the site, located in water protection, a reserve area or a national park. A value of administrative and ownership of land. In the capital, most banks give loans only to the lands of the Moscow region. However, the ICD is promised loans for sites located in Ryazan and Tula regions, and the "Renaissance" - in any region where there is a branch of the bank. "It all depends on the ability of the bank to check the purity of legal facilities located in another area" - explains Pestretzoff. Some banks specifically stipulate the distance from the site of the city. Thus, Orgresbank agrees to lend not more than 60 allotments km from Moscow. In addition, the bank may impose restrictions on the size of the field: IBC requires that the site was of no less than six acres, Orgresbank - four. Saligina said that sections of the smaller area illiquid. Also, the bank (HCFB, "Union", Orgresbank, BSGV) may require that a section has been provided access for the entire year. In any case, loans are granted only when purchasing land from the owner, warns Maximov.