Banks interest rates on mortgage loans. Best banks for mortgages
Mortgage market
Mortgage market unites participants in one way or another associated with mortgage lending operations. They are banks that provide mortgage loans, refinancing organizations, including
- loans for the purchase of apartments in the secondary market;
- loans for the purchase of suburban housing;
- loans for the purchase of non-residential premises (business mortgage);
- loans for mortgages on default loans;
- mortgage refinancing programs.
Also, mortgage programs of banks can be classified depending on the category of the client and provide products for public sector employees, the military, young families, employees of socially significant professions.
At the beginning of 2012, according to the Bank of Russia, out of 978 operating credit institutions 658 worked in the mortgage lending market. And 577 of them provided loans for the purchase of real estate, and the rest provided only servicing of previously issued loans.
In 2011, banks issued 523,582 mortgage loans for a total amount of 716.9 billion rubles. Their main share (520,658 loans) was provided in rubles - for a total amount of 697.4 billion. The average loan size was 1.37 million rubles.
The weighted average interest rate on January 1, 2012 on mortgage loans was 11.9% in rubles and 9.7% in foreign currency. The weighted average term of their granting was 14.8 years for ruble loans and 12.3 years for foreign currency loans.
At the beginning of 2017, according to the Bank of Russia, 506 out of 623 operating credit institutions were operating in the mortgage lending market. 484 of them provided loans for the purchase of real estate, and the rest provided only servicing of previously issued loans.
In 2017, banks issued 1.09 million mortgage loans for 2.02 trillion rubles. The average loan size was 1.7 million rubles.
The weighted average interest rate on January 1, 2017 on mortgage loans was 9.79% in rubles. The weighted average term for their submission was 15.8 years.
Today, the undisputed leader in the mortgage lending market is Sberbank - it accounts for more than half of the total volume of loans issued, as well as VTB, Gazprombank, DeltaCredit, Rosselkhozbank, etc.
The mortgage lending market in Russia is developing unevenly. The bulk of loans are issued in the Central (29.98%), Volga (18.93%) and Ural (14.04%) federal districts.
It is also worth noting that a small part of the real estate sold on the market is being acquired through mortgage lending in the country. Russia is one of the countries with a low level of provision of the population with mortgage lending services. According to Federal Service state registration, cadastre and cartography, with the help of mortgages, 17.60% of transactions for the purchase of housing in Russia are carried out. The ratio of the volume of mortgage debt to Russia's GDP does not exceed 5%. For example, in the USA this figure reaches more than 50%.
The inaccessibility of mortgage lending is still determined by the ratio of the level of income of citizens and prices for housing. The low paying capacity of the population and the high cost of real estate impede the development of the mortgage market in Russia. In addition, the high price of long-term monetary resources attracted by banks to issue loans does not allow the interest rate on loans to drop, making them very expensive for the majority of the population.
On the whole, today the mortgage lending market in Russia has significant growth potential, as it retains a large amount of deferred demand for mortgages.
28,186 viewsWhat is a mortgage?
A mortgage is a form of pledge in which the debtor retains ownership of the pledged property. If the debtor does not return all the funds to the bank and does not pay under the contract, the bank sells the debtor's property, thus returning the money to itself. A mortgage is often confused with such a concept as "mortgage loan". It is only part of the mortgage system. A mortgage loan is issued for the purchase of real estate, and the real estate itself acts as a guarantee of the money back. According to the federal law on mortgages, its subject can be residential buildings, apartments, summer cottages and garden houses, businesses, land plots, garages, aircraft and ships, and other real estate used in business. The very concept of a mortgage existed in ancient Greece. The debtor on his site had to put a stone or pillar, which was called a "mortgage", after he was paid money on the security of the site and all the property. The names of the creditor and the debtor, as well as the amount of the debt and its term, were carved on this stone or pillar. If the debtor could not pay off his debt on time, then his property, encumbered with a mortgage, passed to the creditor. Little has changed globally these days. The essence of the mortgage today is as follows: when receiving a mortgage loan, the apartment is pledged to the creditor bank until the moment when the borrower finally pays off under the loan agreement. The term of the mortgage can be in each case from three to 50 years. Most often, a mortgage is taken for ten or 20 years.
Buying an apartment in Moscow is just a dream for many. The reason for this is not only sky-high prices for Moscow square meters, but also the lack of registration in the city.
Newcomers, whose number in Moscow is increasing more and more, are trying with all their might to get approval for mortgage loans, but more and more often they are refused.
Mortgages in Moscow for nonresidents are allowed, but less likely than mortgages for Muscovites. This is because lending to visiting citizens for the bank is regarded as a particularly dangerous risk of non-repayment of the loan.
What you need to do in order to become the owner of a Moscow residential area, we will tell you in this material.
Most often, in Moscow, mortgages are received by residents of this city with permanent registration. It is very difficult for a visitor to obtain even a temporary registration in Moscow.
Apartment landlords rarely meet tenants halfway in providing a place for registration. As a result, it also becomes very difficult for them to take a mortgage without confirmation of the legal right to stay in Moscow.
The demand for Moscow apartments is generated by the following categories of visitors:
Newcomers, in comparison with Muscovites, buy more modest areas of real estate. Usually these are one-room or two-room apartments up to 100 sq. meters.
Immediately moving to Moscow, a citizen will not be able to get a mortgage, because he must have Moscow work experience.
In Moscow, of course, mortgage loans are issued to nonresident, because most of the people in Moscow are just newcomers. But in relation to such borrowers, the bank may impose special requirements. Thus, he is simply trying to make sure of the reliability of the borrower, of his ability to pay debts.
They give mortgages to nonresidents in two different situations:
- When a citizen lives and works in the region, but wants to buy an apartment in Moscow, so he has to apply for a mortgage in the capital;
- When a citizen works in Moscow and lives here in a rented apartment, he wants to acquire his own living space.
In the first case, the situation is complicated by the fact that the client will submit the application through the regional branch of the bank. Such actions will take significantly longer before obtaining a loan.
In addition, not all regions have branches of the very bank through which you wish to buy an apartment in Moscow.
You can also apply for a loan completely remotely, through a realtor or mortgage broker. A citizen has the right to send an application for a mortgage through a special form on the websites of banks.
To do this, he will need to digitize some important documents... He will still have to come to the capital to sign a loan agreement and a contract for the purchase and sale of housing.
Banks usually set mortgage interest rates on an individual basis... And in fact, they can set an inflated rate for visitors. But this parameter is not always taken into account as the basis for an increased risk.
The cost of obtaining a mortgage for a nonresident will always be higher than for a native. The difference appears mainly due to the registration of an additional amount of securities requested by the bank.
In addition, the approval time for the application can also be increased due to the need to send requests to the applicant's hometown.
You can get a mortgage in Moscow without registration only if you make a large amount of the initial payment and confirmation high level the borrower's income.
The bank must be sure that for the last 6 months the borrower has been legally residing in Moscow and officially working there. To do this, he may request the following information:
- Long-term lease agreement;
- Registration of the client at the place of service of the bank;
- Confirmed bills for utility bills, rent payments.
If during this time you purchased expensive household items, you can provide the bank with checks for their purchase. This can be a refrigerator, car, bicycle, computer, telephone, etc. Thus, you will prove to the bank your financial solvency, to which he has the most questions.
The borrower will be able to receive a tax deduction on a mortgage only in the city where he is officially registered.
How to get a mortgage in Moscow for nonresidents? In general, the package of documents for a nonresident borrower when applying for a loan will differ from the standard list only by documents confirming the lease relationship in Moscow.
The rest of the package will be normal:
If moving to Moscow is forced and not voluntary for the borrower, you will need to provide documentary grounds for finding him in this city. This can be an order for a promotion and transfer to the head office of the company, a medical certificate on the need for treatment in the capital, etc.
The more documents will be submitted, characterizing the borrower as a respectable and solvent citizen, the higher his chances of approval of the loan application.
Documents for registration of a mortgage by a stateless person
So, how to issue a mortgage to nonresident in Belokamennaya? Very few banks provide mortgage loans to foreigners. You can take out such a loan at VTB, Alfa-Bank and Unicredit Bank.
- Official employment in the country with an experience of 2-3 years;
- No tax debts in Russia;
- Stay in Russia for at least 183 days, i.e. be a resident;
- Have a residence permit and temporary registration.
Such a borrower must live and work in Russia for a long time, be here legally. Illegal workers will not be able to get a mortgage in Russia.
It often happens that foreigners are more likely to get approval from banks for mortgage loans than Russians. This is the case if the loan guarantor is the employer of the foreign borrower.
When a potential client also has a spouse with Russian citizenship, his chances of concluding a mortgage agreement increase even more.
When a mortgage transaction is concluded with a bank, the first thing the borrower tries to do is get registration in his new home. He can carry out this action in several ways:
- Contacting the FMS;
- Contacting the passport office;
- By submitting an application through the state services website;
- By visiting the MFC office.
If the apartment is bought by a citizen of Russia, then he can register in it immediately after registration of ownership. Children are also registered without any permission in the apartment where their mother is registered. Newborns are registered automatically.
When concluding a mortgage agreement, the borrower does not fully own the purchased housing. Although it belongs to him by right of ownership, it is listed as collateral on the bank's balance sheet.
The borrower cannot register unauthorized persons in the apartment without the permission of the bank... He can only give registration to himself and his family members: spouse, parents, children, brothers and sisters.
If the homeowner is a foreign citizen with a residence permit, he can register in Russia only after 3 years of residence in the country.
At the same time, he can immediately register a citizen of Russia in his apartment. This can be, for example, his wife and children. He himself will first receive a temporary registration, if the three-year period of residence in the country has not yet come.
But since banks, in principle, lend only to those foreigners who have already been living in Russia for several years, they do not have to wait long for registration.
To obtain a residence permit, the borrower must provide the following documents:
- Passport and SNILS;
- Purchased property documents;
- Application form No. 6.
To register another citizen, you will also need to present documents of his identity, a list of departure from the previous place of registration, a statement from the owner of the property and the consent of other equity holders, if any.
More than 10 million people live in Moscow, and this is only according to official data. An equal number of people live in the city illegally - without even obtaining a temporary residence permit.
Of course, many of them, having never achieved anything, return to the regions. However, many remain, achieve success, acquire a permanent high income. Over time, they think about the need to purchase their own home and turn to banks for help.
Banks issue mortgages to both persons without registration and stateless persons... They are subject to stricter rules for approving applications and an expanded list of requirements for documentary support of the transaction.
. In the application, you need to choose the method (form) of providing residential premises - social mortgage. Everyone must sign it Applicants are everyone listed on your record. "> Applicants and Family members are the spouses and minor children of all applicants. "> Their family members.You can find out your place in the queue by submitting a request via one window service of the Moscow City Property Department. The answer will be given to you in writing within 30 days.
When there is not enough money to buy housing, the only option to solve the housing problem is a mortgage in banks. Existing credit programs allow you to buy real estate in a short time, so you will not have to save your personal funds for such an expensive purchase for many years.
What loans for the purchase of housing in Moscow do banks offer?
Today they provide a loan for the purchase of the following types of real estate:
- in a new building or in the secondary market;
- with a plot, cottage, cottage, townhouse;
- apartments;
- , parking place.
A variety of mortgage programs allows you to take a mortgage in Moscow, taking into account your financial capabilities and needs:
- with a minimum down payment;
- secured by existing real estate;
- at a reduced rate within the framework of a preferential lending program.
In addition, banks offer a mortgage refinancing service. To choose an advantageous offer, we suggest calculating the rate and payment amount on our website. Enter the required parameters in the loan calculator and get a list of banks that are ready to provide you with a loan at your request.
Conditions for obtaining a mortgage in 2020
A mortgage is a long-term loan, therefore, before concluding an agreement, banks carefully analyze the client's financial condition and assess its stability. To confirm your solvency, you will need to provide:
- income statement;
- documents confirming the availability of money for the first installment (bank statement or certificate for maternity capital);
- work book;
- passport.
Mortgages are issued to persons from 21 to 65 years of age who have a sufficient level of income. If wage does not meet the requirements of the bank, the borrower may involve additional parties to the transaction - close relatives or spouse - to the execution of the agreement.
Mortgage rates in Moscow depend on the loan term and the category of the borrower:
- The average interest rate is 10-13% per annum.
- Beneficial categories of persons can count on a minimum percentage (8-9%): employees of budgetary organizations, as well as those who are ready to make a large initial contribution.
- Many large banks offer discounted rates to their clients who receive a salary on the card.
The contract is valid for up to 30 years. Some banks offer loans without a down payment, with the option of paying the down payment or with funds received from the state as a subsidy for home purchases.
A profitable mortgage in Moscow allows you to refuse rented housing, makes it possible to attract other members of your family to pay for payments. differ in the variety of offers on the market. A housing loan can be arranged so that, if you wish, you can repay the mortgage ahead of schedule, use preferential terms.
How to get a profitable mortgage in Moscow?
When looking for which bank to get a profitable mortgage, pay attention to the suggestions:
- with preferential terms;
- no down payment;
- with a minimum down payment.
The most profitable mortgage in Moscow is issued for real estate in a new building or on the secondary market. The main requirement for it is liquidity. it is possible for families with many children, according to programs with maternal capital, the military. can be found for a residential building with communications, a small studio apartment or for standard housing.
The most profitable mortgage - conditions of banks in Moscow
The most favorable loan for housing in Moscow is easier for citizens with:
- official employment;
- fully formed package of documents;
- good credit history.
The conditions and rates of banks will be more favorable if the borrower has a salary card or has used the program. The latter involves changing the bank in Moscow to one that offers more favorable conditions. When determining which bank in Moscow mortgages are more profitable, study offers with an interest rate of 6% and below.
Examine the overpayment amounts. Although the inputs are initially the same, they may differ. They include commissions, the interest calculation scheme is taken into account. A loan for an apartment will be with a lower monthly installment if you take it for a long time, for example, for 15-20 years. But under such conditions, the amount of overpayment increases.
Documents for obtaining a profitable loan for housing in Moscow
If you are looking for where the mortgage is more profitable in Moscow, pay attention to the list of documents. Choose housing for which all documents are in order. There should be those. passport, extract from Rosreestr, documents confirming the absence of payment arrears.
The mortgage applicant himself must provide:
- official papers for the benefit;
- passport;
- a copy of the work book;
- income certificates.
The list may change depending on the policy of the institution.
Where is it more profitable to get a mortgage in Moscow?
You can find the most suitable solution, the most profitable mortgage loans in Moscow, on our website. It is there for calculations and selection of the best options. Stop at multiple banks and. Favorable conditions are offered,
