Consolidate mortgage loan – reduce financial burden
In order to expand its client base, offers Russians loans on loans issued in other banking institutions. The proposal concerns consumer loans, mortgage loans, as well as combined consumer and housing loans. Consider how held in mortgage consolidation to citizens. Information will be of interest to borrowers who want to ease their obligations under the existing housing loan.
The revision of mortgage loan conditions allows customers to reduce the financial burden on loan payments
General Information Mortgage consolidation
The borrower’s interest in consolidation is in his desire to lower payments due to a decrease in interest or an increase in the duration of payment. Pledge (purchased housing) remains the same. is also interested in consolidation “foreign” mortgage loans. He gains new customers for many years. At the same time, he risks less than the previous lender, since there is already information about the solvency of the borrower on previous payments.
Lending is carried out under the following conditions:
- Borrowed funds are provided for full repayment on the security of a property with registered ownership or on the security of equity rights.
- Money is issued in a single payment without commission.
- The decision on the submitted application is made up to 10 days.
- The applicant will be able to receive a minimum of 500 thousand rubles, or not less than 15% of the cost of a mortgage apartment.
- Individuals can receive a maximum of 45 million rubles. For new buildings the maximum loan size will not exceed 80% of the value of the property, and for the secondary – 90%.
- A new contract is executed for 3.5 – 30 years. The client may request an increase in the duration of the loan up to the maximum rate.
- The loan is not granted if less than 3 years are left until the end of the contract (at the time of filing the application form).
- The bank makes a requirement for compulsory insurance of mortgage housing, and in certain cases, the title. Personal insurance of the borrower is voluntary. If it was issued earlier, you can refuse it, and at the same time change the insurance company to a more profitable one.
- Debt repayment is possible under an annuity or differentiated scheme, which makes mortgage consolidation in in 2019 especially attractive to borrowers.
- The amount of the issued amount and the size of the rate affects the status of the applicant and the estimated value of the apartment purchased.
Who is supposed to consolidate the mortgage
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In , not all citizens can count on consolidation mortgages from other banks. A positive response to the application may be received by applicants that meet a specific set of requirements:
- be a citizen of the Russian Federation and have registration on its territory;
- no negative CI;
- over 20 years old and at the time of debt repayment – no older than 55 years (for women) and 65 (for men);
- the presence of a stable income, while no more than 50-60% of its size should go to the monthly loan payment;
- total length of service is not less than a year, and at the last place of work – not less than 6 months.
The main parameters of the transaction, which are offered at the moment
If you have such parameters, the borrower can apply for the on-lending procedure.
The amount of interest depends on the status of the borrower, the amount claimed and the credibility of the documents submitted. The bank offers a minimum rate of 10.5%. But this is not the final value, surcharges are possible:
- 1% – in the absence of personal insurance;
- 1% – for the period of registration of the loan.
From February 8 to May 31, 2019, launched a campaign – a reduction in interest on consolidation mortgages from 9.7% for a period ranging from 1 year to 7 years. This spring there is a special offer for a reduced percentage for a period of 1-7 years.
Individuals can apply in two ways:
- filling out a form with your data online at ;
- directly in the bank branch (you can additionally get advice on the procedure).
The decision on the application of the applicant takes from 1 to 10 days. The fastest considered questionnaires payroll clients.
Features of the requirements
In , in order to consolidate the mortgages of other banks, it is not enough for individuals to personally meet the requirements of the lender. The bank establishes specific requirements for the credited property:
- home insurance with a preliminary report on its estimated value;
- debt not less than 15% of the loan amount;
- until the expiry of the contract must remain at least 3 years;
- delay, penalties are not allowed;
- Permission will be required from the first loan for on-lending.
The borrower provides the documents in this order:
- application form;
- copy of employment record;
- certificate of income (2-NDFL, in the form of the bank, bank statement).
Signing a new contract is connected with the mandatory preparation of several packages of approved documents.
In addition to personal information, the paper provided for the apartment:
- title documents;
- confirmation of payment of a mortgage apartment;
- extract from the house book;
- technical certificate;
- appraisal of the apartment;
- Help with BTI.
Additional statements from the primary lender:
- copy of the agreement;
- certificate of debt balance.