New Fashion: suburban life on credit

In the mortgage sector - the next fad: the banks have started to develop special credit products, which are the key to country houses and cottages - of course, quite liquid. And until recently, country houses and individual country houses rarely come to the attention of mortgage banks. Interestingly, there will be lending dacha new wave in a sea of ​​mortgage products, or the case be limited trial offers bold banks? The loan, which is given for a loan can be used to give better "summer conditions" - a new building on the site, or major renovation, purchase of land or a new suburban home. Clients are also interested in the possibility of additional cost when moving to a new apartment. In the prospects of this new mortgage services, and the causes that prevent it to develop, together with the correspondent of the Internet magazine of real estate professionals versed Metrinfo. What is giving? In a submission giving the townsfolk - is an individual plot of land and a country house where the family prefers to spend holidays and weekends. For the real estate market participants giving - is a building, not intended for permanent residence, which has no postal address. So, to issue a permanent record (that is - to register) in the suburban house is impossible. The only exceptions are the elite of the Soviet time, holiday villages, where registration is allowed. But the rural individual house, even if the village has long remained a constant population structure and are used only as a summer home, built on land settlements (another name - the land of settlements), has a mailing address and can not legally be considered as a summer residence. The most diverse rural property - from the shield, "hen" on six acres with no facilities to house with AGV, underground parking, main gas and telephone - are in demand in the market. Prices range from a few thousand rubles to several hundred thousand dollars. Banks finally paid attention to this kind of property - there were the "first swallow" loan programs, which is the key to giving. The first signs of credits secured by giving the most notable credit programs for "Truckers" is currently offering RosEvroBank and Credit Bank of Moscow. As we were told in RosEvroBank, the bank is ready to take as collateral an individual holiday house located in a housing estate or a dacha. The Bank may issue up to 70% (not less than $ 20,000) cost of the house without email addresses on the period of 5 - 40 years. The specific amount and term of the loan will depend primarily on the borrower's income. For example, the security of giving a $ 50,000 bank is willing to give $ 35 000 clients with an income of $ 1000 per month. Apartment for the money, of course, can not be bought, but at extra charge at the junction it is possible to calculate. Moscow Credit Bank (ICB) offers several loans, as the target (only for housing purposes) and non-target, on which the software can be a summer residence. If the loan is earmarked for the purchase of real estate, the bank is ready to offer up to 80% of the value of the property, with the usual amount of consumer credit is limited to 70%. Term loans can be up to 20 years, the amount of credit - up to $ 800 000, or 550 000 euros, or 20 million rubles. Requirements for the borrower: the main thing - property Loans secured by giving already have some common features. As explained by the Head of Mortgage Credit Bank of Moscow Julia Chernysheva, the collateral - giving and land - should be only in the property. Alternatively, when the land use on a leasehold basis, even if long-term, will not even be considered. Borrower will have to undergo the process of underwriting in general practice. Repay the loan from his client will be a monthly income equal to the annuity payments and the bank must be sure that the family cope with the credit. Mandatory requirements are the size of the area not less than six acres, located in the Moscow region, but not beyond 75 km from Moscow. IBC also willing to consider real estate in the Tula and Ryazan regions. The house must be suitable for living, that is, at least, have a heating system. It is desirable that the house was built of brick, stone and wooden beams. The maximum allowable degree of deterioration of the building - no more than 60%. Requirements for the connection of communications not, then there is a house may well not have water, sewer, gas main. Why are so few programs give loans secured by high demand, say the banks. But there are circumstances that prevent the development of these services. First of all, as the director of assessment of residential real estate consulting group NeoTsentr Viktor Makarov, still did not exist in Russia precise criteria for assessing the suburban areas. The price of them depends on too many factors, and, to a great extent on the personal taste of buyers. Someone is most appreciated the presence of a garage and vehicle access, while others, on the contrary, ready to climb into the wilderness for the sake of the magnificent mushroom beds, hunting and fishing. So the suburban area estimation by different experts may differ in two times - this is not possible in the evaluation of a cottage in the organized township or city apartment. With Victor Makarov and team leader agree on lending Analytical Department of the Association of Russian Banks Catherine Pokoptseva - the development of this type of lending hampered by the lack of unified and standardized pricing base housing estates. Another reason is that most banks are not yet very actively exploring other regions, including the Moscow region. No less important problem is the confusion over the legal status of suburban areas. Dacha amnesty state spends several years - and without much success. Head of the Committee on suburban property RGR Valery Lukin believes that when the documents of title to land and the house is in perfect condition, no special obstacles to the transfer of property as collateral did not exist. But many gardeners still have documents on Soviet-style plot, not produced survey, there is no cadastral map of the site. Insured country houses - and this is an additional advantage in terms of the bank - and at all units. Summary While many banks and borrowers prefer not to make yourself more problems. Banks will not communicate with the mortgage, title to which is easy to dispute. If we are talking about relatively small sums, the borrower is often easier to take an ordinary consumer credit, than to correct all of the documents on the site. However, once this service appeared on the market, so that someone so needed. Let today most borrowers pledge in his dacha, prefer to take credit for the repair or reconstruction of the same villa. In the future the service will evolve, and it is likely that many will choose not only to lay a city apartment to get a country house, but also do the opposite. So that this type of lending will grow with the expansion of banks in the region and the development of the real estate market in the country. Examples of proposals loans secured by giving (in rubles, with no down payment) Source: banki