Mortgage dilemma or installment loan

Mortgage returned: the volume of housing loans have already reached pre-crisis levels. The bankers and developers claim that a number of projects the number of customers who buy apartments on credit, is one third of the total number of buyers. At the same time a temporary moratorium on mortgage banks introduced during the crisis, has led to the fact that competition loans for the purchase of new housing is the installment from the builder

In the summer and autumn of this year, the real estate market for the first time since the crisis back mortgages with no down payment. The author of the proposal has become sensational RosEvroBank – he began to make loans for the purchase of second homes by 14% in rubles and 12% in foreign currency. Credit for the purchase of apartments in new costs to 15.5% per annum in rubles and 14% in foreign currency (after the state registration of the ownership rate is reduced by 1.5%). Run a bank account for a stable situation in the real estate market: “The offer is addressed to those who for whatever reason can not save money, but it can solve the housing problem here and now.”

Growth amid falling

Before the crisis, mortgage loans with no down payment was given many banks, but after the fall of 2008, these programs did not. Moreover, during the crisis, many banks have generally gone from this market, and the remaining significantly tightened lending conditions. In autumn 2009, after repeated government promises to support the mortgage market, banks have begun to reduce rates and the initial contributions, as well as increase the size of loans. As a result, in 2009 the market volume was 152 billion rubles, and in 2010 – is 370 billion rubles.

According to experts, in 2011 mortgage market grew by 80%, and the number of loans issued the situation has returned to pre-crisis times. The growth of mortgage lending market contributed to the continuing decline in interest rates, increasing the loyalty of banks to borrowers, rising consumer confidence. However, while this growth is due to the failure of 2008-2009. “Compared with the peak of the crisis – the year 2009 – we are all growing at an unprecedented pace, but you understand that it just shows how everything has been frozen in 2009″, – says the president of the Association of Regional Banks “Russia” Anatoly Aksakov.

In “Inteko” increase consumer interest in the mortgage, especially in the regions, we noted at the beginning of 2010. Analysts believe that the main role in this was played by the development of federal and regional programs of state support of the population (“Military Mortgage”, “Housing”, “Young Family”, “mother’s capital”), whose members often acquire a new home with the help of a mortgage. In Rostov-on-Don at the buyers of such “Inteko” from 25 to 40%. “And in October it was significantly more than those who pay immediately, due to the increasing number of customers who buy a house for the purpose of investment. Real estate has traditionally been a reliable tool for conservation savings in an unstable exchange rates and macro-economic effects of the crisis. Usually the number of “stoprotsentnikov” ranges from 30 to 40 percent, “- the company says.

Banks also noted increased demand for mortgages. “The market is growing, but not at the expense of investment demand, and in the segment of transactions on the secondary market in order to improve living conditions or the purchase of additional housing. The share of mortgage transactions in the first half was 16.3%, but this is still less than it was before the crisis: in the first half of 2008 it amounted to 17.9% “, – says head of department of development and support of retail lending programs Transcapitalbank Sergey Danko. According to him, a major role is played by the factor of pent-up demand that has earned thanks to some economic stabilization and decline in real prices – excluding inflation. “We are seeing a decline in new housing, that is, the deficit that is due to an increase in terms of construction, which began in crisis” – continues to Danko.

Credit or installment

Another popular way to solve the housing problem is the installment. Developers began to actively offer such programs in times of crisis – when many banks have introduced a moratorium on the issuance of mortgage loans, while others turned and did the real estate lending programs. However, the time to make the entire amount of give a little: usually offer interest-free installments for a maximum of 6-12 months (but usually two or three). As a general rule, give money for the year under 1.5% per month on the unpaid balance, the first payment is usually 30-50%.

However, software developers are more like loans. So, one of St. Petersburg companies offer installments for three years.

The company “Patriot” situation can be explained as follows: “Installment quite popular among buyers of apartments in residential complex” Western Gate “in Rostov-on-Don, on average, about a third of it is used by our customers. However, such programs can not compete with the mortgage, primarily in terms of. That is, for “West Gate” maximum period of payment by installments – 6 months, subject to payment of 50% of the cost of housing. It is clear that such conditions are not suitable for mortgage holders who usually needs money for a longer period and initial payment is usually 15 to 30%. ”

It all depends on the individual wishes and goals, say bankers. “I would not compare these two products. Their attractiveness in each case determined by the goals and possibilities of the client. For example, the installment does not involve the payment of interest, but is available for a very short compared with the mortgage term, and payments on it several times higher than those mortgages. I think that for the majority of end users in terms of the mortgage monthly financial burden more acceptable “, – says Sergey Danko.

According to the company “PIK”, at the end of the third quarter of this year, about 30% of their clients have resorted to a mortgage, 70% paid a lump sum or an apartment with installments. And according to the company “NDV-estate” in Moscow 35% of housing transactions performed with a mortgage and the same – with the installment plan from the builder. The latter option is suitable to customers who in the next 3-10 months awaiting receipt of large sums of money. It may be a one-time payment at the place of work, income from contracts (entrepreneurs), the sale of expensive property – installment, by the way, makes it possible to sell the old apartment with a long exposure at the maximum price.

The refusal of a loan. Understand the reasons

Each of us, referring to the bank for loans, expects to receive approval. But, alas, a positive decision comes not always. Some failure is quite unexpected. So why is the bank refuses to issue a loan?

The most common cause – the alleged borrower blacklisted. This means that most likely, a customer defaulting and commit delay on previous loans. The client, who at least once did not pay the monthly payment on time, falls into this list and get out of it is not so simple. Therefore, your credit history should be protected.

A borrower can have false information about yourself? The Security Service will not miss such a request. Though not always, but the bank’s employees call on these numbers in the questionnaire. Specific information about the alleged borrower from the contact persons to confirm the above information on the work of talking to client management. The slightest discrepancy – a reason for refusal. If the service is not security or dials found out that the numbers do not exist, it is not surprising negative decision on the loan.

It is not necessary to withhold information and that at this point the borrower has the loan. If they are paid in good faith, it will only affect in a positive way, and creating mystery around this fact equates to false information, leading to failure.

It plays an important role and appearance of a person who filed zavydachey loan. Ethnicity should indicate the value. It is not necessary to wear pants set shirt is enough just to look neat. The smell of fume, habits addict, prison tattoos – a straight road to the black list, if not forever, but for a while, but at this point in the loan will be denied.

Of course, it plays the role of the client’s income. Not so much its size, and that remains the borrower after payment of the monthly payment on the loan. If it is a small loan, the payment should not exceed a quarter of the income. If this is a pretty big loan, after repayment of the borrower must remain at least 60% of income.

It is necessary to understand the size and value of the loan. Sometimes it happens when a client’s income of 10,000 rubles, and asks a million. What the bank will respond? Of course, it sends a refusal. Or maybe the other way around, the income of 100,000, and 10,000 requests likely a borrower to repay the loan ahead of schedule, and the banks do not like this operation, this leads to a loss of revenue as a percentage. We can not say that in this case, the refusal will be 100%, but greatly surprised he was not worth it.

The bank will carefully examine the authenticity of the documents. And if you find even the slightest hint of counterfeiting, the refusal and the blacklist of fraud can not be avoided. Therefore, if the borrower has washed your passport inadvertently along with the jacket in the washing machine, before requesting a bank with such a document, it is best to contact the relevant authorities for his replacement. Inconsistency of data passport and the second document, passport offices typos overdue documents. All this will lead to failure.

The signature in the passport and the credit agreement must be identical. It does not matter that the borrower put it twenty years ago, the discrepancy may lead to a negative decision.

Here are the main reasons for the refusal of banks to grant credit. Now, taking into account all the nuances, you can safely go to the bank for approval!