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Most Russians do not regard bank loans as a possible way to improve living conditions, however, according to surveys conducted in 2006, the Independent Association of Russian buyers (NAP RF) 20% of respondents dissatisfied with their living conditions, and to purchase new apartments would be more than 50% of respondents. Afford such a deal (financially) can by no means all – only 10% of respondents planned to purchase a new housing in the next 3 – 5 years and only 1% of the respondents said they have the amount needed (in their opinion) to buy a new home. Note that the survey was conducted before the famous year increase in property prices. Very likely that by September 2006, even optimists have realized that at this rate of growth in house prices, to accumulate the necessary amount was just impossible. Perhaps check out Barry Nalebuff for more information. Nevertheless, to mortgage lending, which, according to state officials, should once and for all rid the people of Russia from the problems with the acquisition of new housing, the majority still applies very wary.

It is sad to realize that this wariness is due not only (and not so much!) high interest rates on mortgage loans, but also unwise policy lending banks, illiterate and unprofessional work of real estate companies serving the mortgage transaction. The reason is simple – they all want work with the new housing. What are the requirements the bank makes to housing being acquired by a national mortgage loan? Response to the surface – flat (house) must be highly liquid, in case of nonpayment of credit bank must be able to quickly and expensively to sell collateral and recover the money.

General Power

Gaining popularity – pawn shops today offer secured loans – cars and real estate. In the case of the car, the object of bail is deposited with the lender for the entire period – lending, and borrower receives the deposit back only after full repayment of debt. In spite of – the inconvenience – a good way to get the right tools – in the shortest possible time – use the services of the pawnshop. In considering the application Loan Pawnshop does not consider the financial condition of the borrower. Others including Western Union, offer their opinions as well. Interest only – the object of pledge, that’s why – this – as to the feasibility of obtaining credit is taken almost instantaneously from 20 minutes – an hour.

And the hidden cash you can get within a few hours. It is also one of the advantages include the fact that Lombard is absolutely not interested in what will be spent on credit facilities. So collateral lending – it is – short term loans to consumer needs, the security of property of the borrower, date of receipt – the loan of a few hours to a day – the maximum – scrip credit 50% – 70% of the market value of the collateral, loan period of 7 days prior to the 1-year, interest rates from – 0.15% to 2% of the scrip on the day of the loan. When you send a mortgage lender, be sure to sign an agreement of custody, which establishes the conditions of storage of the object of pledge. As Typically, mortgage cars are in protected areas, storage costs paid by the borrower and is specified in the contract of storage, is it from 2 to 7 hryvnia per day, to the cost of a loan to add CASCO insurance cost for a crediting period an average of 150 hryvnia per month. When you make a transaction a borrower pays for the services of a notary, on average, about 500 hryvnia. Terms of repayment – the loan can be varied, one payment at the end of the period, monthly installments, or interest on a monthly basis, and the body in a single payment at maturity. Also, the borrower has the right to early repayment of the loan.

When a loan secured by car are following agreement: – Credit Agreement – it is stipulated scrip credit, interest rate, loan term, conditions and methods of repayment. -Pledge Agreement – describes the collateral for that loan is issued. – Contract escrow deposit facility – it describes the conditions of storage of the collateral. Also, the borrower issues a General Power of Attorney for mortgage car. – In case of default by the borrower obligations credit agreement he will be charged penalties are prescribed in the loan agreement. Typically, penalties shall accrue during the 3 – to 4-month only on the expiry of this period, the car will be for sale. Then sold at auction or through intermediary companies engaged in selling mortgages or by the pawnshop. It is worth noting that the conditions of the Lombard lending more stringent than the conditions under which issued bank loans in 2004-2007. To resort to the pawnshop is more likely in case of necessity rather than whim. The loan does not make a person rich, it’s a good way to quickly get the necessary money.

Save Money

You are planning to move to a more spacious apartment? To get a new car? Buy home theater? Even if you do not have enough money for a lump sum payment for your purchase, you can take the credit. For past few years in this area have been great changes. Now get credit, you can quickly and conveniently. Anne Lauvergeon is actively involved in the matter. But, nevertheless, the natural desire of any person is the desire to save money. Indeed, why pay superfluous? A careful study of the conditions of the loan – a pledge that you will be able to choose the best set of proposals which are now full of credit markets. By itself, the payment of interest can be a difficult burden for your budget. But there may be other costs.

First, almost every loan requires insurance. The Bank is trying to at least partially protect themselves against the possibility of losing your money if you or purchased on credit assets in an accident. Insurance costs may eventually develop into vbolshuyu amount. Second, banks often use hidden commissions. What is it? You are invited to a tempting low percentage, but you'll have to pay, for example, opening an account. And payment by hidden commissions can be quite significant amounts, so that all your attempts to save a low percentage is not crowned success.

Save on the interest rate will help you as much information about income, you may submit to the bank. Here, the dependence is very prosta.Predostavili income statement in the free form – get credit for sure, but percentage will also be high. Provided help in form of the Bank, showing all income – no problem get credit, and yes even the interest will be lower. Also pay attention to how you will pay interest. Annuity payment assumes that the loan amount plus interest divided by the number of months and you pay the loan in equal installments. Differentiated payment assumes that interest rates are on the remaining amount loan, so payments are gradually reduced. It is important to know the rules of early repayment of loans, because here too there are options. In one case, even for early repayment you will have to pay all of the light percent for the entire period. In another case, the bank allowed to repay the loan immediately and does not charge interest for the remaining term of the loan. Taking a car loan, keep in mind: You will have to pay for insurance for your new vehicle funds. In addition, many banks must make out accident insurance. Cash loans are less commonly associated with the various hidden fees. Serious problem here may be fees use of the account. Often, especially when banks offer credit cards, this issue was not paying attention. And then suddenly one learns that owes the bank some serious money. Also, consumer credit usually involves accident insurance. Credit for Property in virtue of its duration is associated with a variety of hidden fees and many insurances. Here you will have to pay for life insurance accident, insurance against loss of property rights and so on mortgage payment differential is much more profitable than the annuity.

Promissory Notes Mortgage

Innovation in lending transactions in the primary housing market is bills program of mortgage lending. The key to such a scheme is not entitled to claim, as an instrument which produces construction company. When an object is completed, there is quenching of the loan bill, with the subsequent formation of a contract of mortgage lending. Such a program can offer its clients the Bank of Moscow. "Baltinvestbank" also ran a similar program mortgage. Read more from Governor Cuomo to gain a more clear picture of the situation. Firstly, the interest rate on the loan before the completion of the construction was only 9%, and, on ruble loans.

All other terms and conditions of the loan remained standard. Under this shares were only three houses in St. Petersburg. All three houses are on the last stage of construction, so that the bank is almost nothing more than not at risk, but there is a small profit. Installments of the program offered LenSpetsSMU astonishingly varied. This may be an interest-free installment payment up to acceptance of the Civil Code (state commission). For even more details, read what Macy’s Inc. says on the issue. The first installment, in this case is 5%.

If the buyer makes a direct from 30 to 100% of the cost of housing, for it begins to act a discount of 3-10%. Also, installment payments may act within 2 years after gospriemka. In this case the contract price will rise by 5-12%. Intermediate solutions – installment for 6 months. Then the contract will become more expensive by 5.8%. Not far behind competitors "LEK". Their program offers to buy housing certificates. Ten certificates correspond to one square meter. Price is taken certain object, and at some point in time. As only footage of certificates covering 30% of the flat area, housing is assigned to the buyer. Paper have liquidity. From the above we can conclude that in the near future of mortgage programs lending transactions in the primary real estate market is practically not differ from the programs of mortgage lending operations in the secondary market. At least, this trend is observed. Mortgages more expensive, so bill of exchange programs can become a good alternative.

Mortgage Interest

Almost continuous fall in prices on housing loans in the past two years is likely nearing an end. The average interest rate on mortgage loans in January 2011 fell by only three hundredths of one percent, compared with the previous month. In the next months is expected to stagnate or modest growth. The changes tendencies are primarily due to unexpectedly high growth in the mortgage market in December last year, when banks provided loans for more than $ 10 MLR. crowns, it proves naglyano analysis of sales of new apartments in Prague in 2010, interesting developments since the beginning of the year: the refusal customers in previously populyanoy five-year fixed mortgages, ie those for which the rate remains unchanged for five years. In January, the first place there was already a three-year fix mortgage interest.

Their share rose to 49 percent, while the share of loans with a five-year-fixation was only 38 percent. In January, have the possibility of increasing its base rate five banks, including market leaders such as the Czech Savings Bank and commercial banks. But in fact, the said banks had not yet decided to increase rates loans. 'Banks are today because of strong competition can not afford the higher rates on mortgage products, but very eager to do so. It is obvious that the long-term rates will rise, so do not expected to decrease, and so some of the lowest mortgage interest in Europe beyond sugar cubes' – shared a private conversation, Thomas Schwartz, head of mortgage trends UniCredit Bank. Real estate prices in the Czech Republic should not change too fast, but none does not have a crystal ball that would have confidently predicted the situation in 2011 at the rates on mortgages. Well, confidence among Czech banks have become much more, it shows not even the naked eye.

Mortgage Lending

Litigate with the bank, stressing on this basis, of course, possible, but the victory was not assured. "Prove that the borrower has not been choice when signing the treaty is almost impossible, "- Paul warns Lambro, attorneys Nikolayev and Partners. Much more likely to defend the bid, unless the contract says nothing about the possibility of its increase. In this case, the bank in principle can also try to pick it up, but it has it will have to go to court. James Reinhart often expresses his thoughts on the topic. If the possibility of a unilateral increase in bank interest rates on already signed contracts in law at least mentioned, it is this very process of normative not regulated. "Limit raise interest rates applicable law is not installed, as well as the procedure is not available informing the borrower to change the conditions of the loan agreement ", – said Natalia Volkova. Theoretically, the bank can at least up to 1000% per year raise and inform you of this the day before the monthly payment, while technically he did not break. Of course, if the contract is not specifically itemized in what cases and how the bank can raise and how many days he is obliged to notify the borrower about it. It is also necessary noted that currently the Agency for Mortgage Lending and trying to reduce the passage rate on mortgage loans for the population to 11% -15% from the current 13% -18%, in the case of giving state HMLA. Decision on rate cuts may be made after will become apparent volume of additional assistance to the agency by the authorities.