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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.

Long Mortgages

Long mortgage. Tempting, but is it profitable? Source: news-house.ru New programs that have appeared on the Russian mortgage market, allow the borrower to borrow up to 40 – 50 years. At first glance, pretty tempting offer. Let us try to consider this proposal in more detail. Thus, the main claim of the creditor: at the end of the age of the borrower's payments should be no older than a certain threshold (eg 75 years). It follows that if borrower takes out a loan for a period of 50 years, his age should not be older than 25 years of age, at 40, then 35 years. Seductiveness of this proposal is the possible reduction of the monthly payment and stretch the term of mortgage, and respectively to increase the maximum loan amount at the same level of income verification.

Is it correct that statement? Let's try not to be unfounded, we carry out the calculations. Take CALCULATIONS example, a mortgage loan of $ 3 million rubles. Governor Cuomo may not feel the same. Calculate the amount of monthly payments for different periods (from 10 to 50 years) and for different rates (from 8 to 14%). It should be noted that in practice the proposals for a long mortgage imply ruble rates at 13-14% per annum. Visual results of calculations of scary. What do we see? The longer the loan, the less pronounced reduction in the amount of monthly payment.

At the term of the loan over 25 years is reduction is almost imperceptible. And with credit in 30 years? Notice the difference in monthly payments of a 25-year and 30-year loan is about 600-1100 rubles. And for 30 years and 50 years – only 100-500 rubles a month. A similar increase results and increase the loan amount double or triple. Accordingly, it does not exceed 1500-2000 rubles. However, the slower the reduction of monthly payments, the faster the various rates (from 8 to 14%), and thus the amount of money overpayment on the loan. The conclusion suggests itself – the man who took a 50-year mortgage will pay as a percentage nearly twice as much than the one who took credit for 30 years. In numbers, it looks like this – the difference in overpayment for a loan of 3 RR is more than 8.2 million rubles! (At a rate of 14% per annum). The problem of Russia's long-term lending (as opposed to foreign programs) is the inability to transfer the debt on the credit for children, all based only on the borrower's age limit. From all the above can make an unequivocal conclusion – the best term mortgage is a term of 20-25 years. When absolutely necessary – for 30 years. Longer loans designed for people unfamiliar with the arithmetic. Source: forum.news-house.ru

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 Documents

Authority; written consent recipient of rent in the sale of real estate rent payer, decorated by a notary or by the registering body, the Trust Deed residential premises (registered in the Unified State Register), if the residential room disposes of the trustee; contract of agency (registered in the Unified State Register), if the attorney manages residential premises; passport object of cultural heritage, security, lease, guard treaty obligation or security – if the property is an object of cultural heritage; conclusion of historical and cultural examination – if the property is identified by an object of cultural heritage; Notification government protection of monuments, when the subject of the agreement are historical and cultural monuments, Mortgage, if immovable property is purchased using a credit of the bank, a credit institution or a trust loan granted to other legal entity and the contract states that the rights of the mortgagee shall be certified by a mortgage, a document called a mortgage As applications, including a loan agreement and the conclusion of an independent appraiser on the market value of the property. Housing certificate – in case of purchase of immovable property from the housing subsidy All documents are provided in two copies – the original and a copy! Ownership of the alienated property must be registered in the Unified State Register! If ownership is not registered in EGRP, in addition to the above documents must submit documents for registration of ownership of the seller (grantor, transferor under a contract of exchange, the recipient of rent) 7. Calculations. Suppose all documents in the apartment in order and it is time to discuss issues of mutual settlements. Where and how can they make? Unfortunately, in practice most often simply transferred money from hand to hand – not the safest way. Much safer to use the banking unit under the registered name of the purchaser to a contract of sale flats.

After the laying of money you will be notarized (at your option) registration of contracts or immediately surrender the documents for state registration. 8. Legal and physical release, the act of reception and transmission when you finally get registered contracts for the sale of an apartment with a certificate rights registration, you will be legal (the removal of the register) and physical (removal of things) the release of the apartment. 9. After the sale of apartments do not forget to submit a declaration to the Tax Office.

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.

Branch Manager Company

Elena Troitskaya, Branch Manager Company “AMT Bank” (formerly “BTA Bank”) in St. Petersburg: From March 1, 2010, we began to take to process an application for mortgage lending in the St. Petersburg branch. We expect good results on the example of the successful launch of mortgages in Ufa in December 2009. In St. Petersburg we offer our customers three products: the ruble mortgage with a fixed rate for the first five years, the ruble mortgage with a fixed rate and dollar fixed-rate mortgages.

Program with such conditions the most in demand customers. Our products are formed in accordance with the basic customer preferences in terms of cost and time no hidden fees and, more importantly, the convenient location of offices. Our offices in St. Petersburg metro stations are located in front of “Vladimir”, “Narva”, “Moscow”, “Vasileostrovskaya” and next to “Vyborg” and Nevsky Prospect. For our clients, we offer a “safe box for deals.” Concluding a transaction of sale, customers are free to use conference rooms. In this design lease deposit boxes we produce only 10-15 minutes, even taking into account the need to design a power of attorney, and absolutely free, to any third party the right to use the cell. Get more background information with materials from Frank Armijo.

Alexander Anishchanka, Deputy Manager of a branch “Gazprombank” (JSC) in St. Petersburg: Traditionally, the secondary market is considered more reliable: the buyer can immediately see that he buys, reduced risk, because immediately executed right property. May attend some fears about the purity of the transaction, but in the case of buying real estate in loan documentation for the apartment must verify the bank, and legal purity – the insurance company, which insures the title. Prices for real estate in the primary and secondary markets, in principle, comparable. The difference in the cost of similar housing in the “primary organizations” and “secondary housing” due to two main reasons: the time (Apartment, you can use right away – to live, rent, rather than wait a year or two, until the house is completed), and finishing. The cost of finishing work usually ranges from 40% property value. To obtain a mortgage to have enough for about 20% down payment. In addition, the mortgage is much more profitable accumulation. With the accumulation of funds inevitably “eats” inflation. When a mortgage is the same inflation in hand to the buyer: the formal monthly payment remains the same in during the whole period, but its “weight” is gradually reduced. Banks often advertise lower limit of the interest rate, not mentioning that it can be greatly increased depending on the size of down payment, term credit, income verification forms, terms of early repayment, the market (primary / secondary), even from such payments. Gazprombank to honor the 20th anniversary of the special program “Jubilee mortgage loan” on which establish a unified interest rate 13%, independent of the above conditions. Read more …

City Mortgage Bank Lending Conditions

City Mortgage Bank has started its work in Moscow on 1 March 2004, and in April opened an office in St. Petersburg. Today, the city also operates a mortgage bank in Nizhny Novgorod, Samara, Rostov-on-Don, Yekaterinburg, Ufa, Tolyatti, Tyumen, Chelyabinsk, Novosibirsk, Kazan and Krasnoyarsk. ction. Macy’s Inc. takes a slightly different approach. The bank was established with the participation of companies 'Troika Dialogue' and 'Rosgosstrakh', and in late 2006, the owner of City Mortgage Bank Corporation was 'Morgan Stanley'. City Mortgage Bank: Lending Products City Mortgage Bank provides mortgage loans to buy apartments and individual houses, as well as loans for repairs and home improvement.

In April, 2007 number of mortgage loans has exceeded 5500, and the volume of mortgage transactions since the beginning of the bank surpassed the mark of $ 400 million. The borrower can get loan to buy an apartment in almost any major city in Russia. City Mortgage Bank: loan in the first place you should be prepared and submitted to the bank documents to obtain a mortgage loan. Representatives of urban mortgage Bank promise to consider your application in a period of one to three days, after which you will be given notice of the decision of the bank. If the decision is positive, with the notice you get all the information about the credit – it the amount and timing of payments.

Bank's decision is valid for three months, but in exceptional cases, urban mortgage bank extended the decision for another month. During this period, you should pick up an object real estate, provide the bank and insurance company documents on this site, evaluate it using an independent appraisal company and sign a loan agreement. City Mortgage Bank: documents for the loan To get a mortgage in the urban mortgage bank, you should gather the following documents: copy of passport, copy of marriage certificate (if available), an income statement for the last 6 months in the form 2 Personal Income Tax, a copy of the work book. In addition, you will have to provide proof of payment for acquisition of the bank's application and statement of consent of the borrower's receipt of the urban mortgage bank information from credit bureaus stories.

Mortgages In Spain

Calculation and publication of rates is performed daily at 11:00 CET on the basis of data provided by several dozen banks with a first class rating. Quoting banks regularly reviewed for compliance with the high rating requirements. For even more opinions, read materials from Governor Cuomo. Judging by the index of EURIBOR, the borrowers can be confident Judging from the February values of the index, said that EURIBOR as compared to January will be no significant changes. When there are only four days before the closing of the bank a month, it's safe to say that the average index of EURIBOR in February 2010, which is calculated based on the interest rate on your mortgage, it is obvious will remain at 1.23% – the same as in January 2010. During the month of his quotes does not changed: the index simply varied in a narrow range from 1.22 to 1.23%, a change was virtually zero. The explanation for this passivity, which lasts from last fall, is that the European Central Bank (ECB) still shows no sign of willingness to raise interest rates on short-term loans. What expect borrowers to Spain? What will be EURIBOR in March 2010? Based on projections and quotations, EURIBOR index value to remain stable in March. The fact that the average EURIBOR 3 month change of 0.66%, and has been a long time remains at this level. Therefore, it is expected that in March 2010, quotes EURIBOR will be closed within 1,20-1,30%, except that the market will be something quite incredible. Recently, something happened that agitated the whole Credit peace across the Atlantic, and in Europe the consequences of this event have not yet reached.

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