Due to rising inflation and declining incomes, Russians are finding it increasingly difficult to pay banks for previously received loans. Citizens who cannot cope with their credit load are looking for ways to reduce it. Options for optimizing loan servicing costs are presented in the article.

It is more profitable to reduce the loan term or monthly payment: expert opinions

In modern legislation there is no prohibition on early repayment of a loan. If you decide to partially or fully repay the loan, the bank has no right to prevent or apply penalties. Experts say that if there are free financial resources using them to pay off debt is beneficial.

The procedure for early loan repayment is as follows:

1. You notify the bank in writing of your intention 30 days in advance and indicate the amount of the contribution.
2. The specialist will tell you the deadline by which the funds must be deposited.
3. After payment you will receive a new payment schedule. If the loan is repaid in full, then take a statement about closing the loan account.

This procedure can be carried out an unlimited number of times. There are 2 options for early repayment:

• With a reduction in the loan term, the amount goes towards repaying the debt last months, and interest is written off.
• With a decrease in the size of the monthly contribution, the term does not change in the new schedule.

Financiers believe that both options are beneficial for borrowers, and the larger the payment, the higher the profit. In any case, you will save on commissions, interest and be freed partially or completely from debt. You need to act depending on your life situation:

• If you are not sure that you will have sufficient income to repay the loan, then it is better to reduce the amount of the monthly installment.
• If you want to reduce the amount of overpayments, shorten the period.

Some financial institutions offer the borrower to independently choose whether to change the loan term or reduce the monthly payment amount. However, most banks, for example, Sberbank, Renaissance Credit, Sovetsky Bank, HomeCredit, etc., only provide for a change in payment, and leave the term the same.

If, due to financial problems, you cannot repay your loan debt, the bank will offer the following options to resolve the situation:

1. – taking measures to facilitate lending conditions:

• increasing the loan size by the amount of the overdue amount;
• revision of the payment schedule by reducing the rate, contribution amount, increasing the repayment period or providing credit holidays;
• change of loan currency;
• write-off or reduction of penalties for current delays.

Banks sometimes use a combination of several types of restructuring.

It is possible that these tricks will help you partially ease your credit burden. However, there is another universal rule that allows citizens to remain financially independent. Its essence is simple: live within your means.

Mortgage differs from all other types of lending quite a large amount principal debt and a long payment period. Accordingly, mortgage payments are a large expense item in the family budget of an ordinary Russian family.

Ways to reduce your mortgage payment

Reducing the mortgage burden is possible if one of the loan parameters is changed:

• reducing the principal amount due to early repayment;
• increasing the loan term;
• reduction interest rate;
• changes in the repayment schedule (the procedure for paying principal and interest).

All methods, with the exception of early repayment, require permission from the bank that issued the loan.

Changing the schedule for early repayment

Any amount paid as early repayment reduces the principal amount due. The accrued interest is recalculated based on the remaining amount.

Almost all banks allow partial repayment to shorten the term of the mortgage loan while maintaining the monthly payment at the same level. But most credit institutions are ready to offer an alternative solution in this situation: rearrange the schedule and reduce regular loan payments, subject to maintaining the date full repayment.

Types of payments

In accordance with the agreement, the payment schedule can be annuity or differentiated. This parameter determines whether it is more profitable to pay a mortgage with a lower monthly payment or term.

An annuity is characterized by a fixed monthly payment amount. The principal-to-interest ratio of an annuity changes monthly. With this repayment method, the first mortgage payments are interest only with a small portion of the principal, which is significantly reduced towards the end of the planned loan term.

With differentiated payment, the total amount of debt is divided into equal parts depending on the loan term, and the amount of interest changes monthly depending on the balance. The first payments may be an order of magnitude higher compared to the annuity schedule, but as payments progress, their value decreases.

Most often, banks establish an annuity form of loan repayment as a more profitable option.

What is more profitable: reducing the mortgage term or payment?

The answer to this question depends on the borrower’s life circumstances: whether he wants to pay off faster and minimize overpayments or reduce the loan burden in the family budget. It also matters whether early repayment made regularly in small installments or a one-time large amount.

For a clear example, a calculation will be used without taking into account additional commissions and insurance under the following conditions: mortgage loan amount 3,000,000 rubles, term 15 years, rate 12%.

Depending on what type of payment is provided for in the loan agreement (annuity or differentiated), the main parameters will be calculated:

With differentiated payments, a reduction in mortgage overpayments by more than 20 percent.

Regular repayments in small amounts

If the borrower has the opportunity to make a monthly payment of 15,000 rubles in excess of the payment in order to quickly repay, then the schedules will look like this:

Of the year	Remaining debt on annuity	Balance of debt with differentiated payment
Overpayment	1 568 653.80	1 450 132.20
1	2 727 315.22	2 603 333.33
2	2 426 163.45	2 223 333.33
3	2 086 903.24	1 843 333.33
4	1 704 533.74	1 463 333.33
5	1 273 670.42	1 083 333.33
6	788 162.33	703 333.33
7	241 161.44	323 333.33

In this case, the loan term and the amount of overpayment will be reduced by more than 2 times, regardless of the method of calculating the monthly payment.

One-time repayment in large amount

If possible, deposit a large amount into the account partial repayment(including tax deduction or maternal capital), the borrower must carefully consider the most best option to recalculate the schedule.

• Partial repayment in the amount of 300,000 rubles while maintaining payment and reducing the term:

Repayment period		How can the term be reduced?			How can the term be reduced?	Total amount of overpayment for the entire period, rub.
In a year	2 617 602.28	For 37 months	2 463 839.90	2 483 333.33	For 18 months	2 239 443.52
After 5 years	2 199 003.36	For 25 months	2 909 169.17	1 683 333.33	For 17 months	2 383 443.52
After 10 years	1 298 718.21	For 15 months	3 275 012.23	683 333.33	For 17 months	2 563 443.25

• Partial repayment of 300,000 rubles with a reduction in monthly payment:

Repayment period	Remaining debt with annuity, rub.	How the payment will decrease, rub.	Total amount of overpayment for the entire period, rub.	Balance of debt with differentiated payment, rub.	How the payment will decrease, rub.	Total amount of overpayment for the entire period, rub.
In a year	2 617 602.28	32,308.70 (at 3696.30)	3 160 459.31	2 483 333.33	40 179.85 (at 2983.11)	2 462 960.70
After 5 years	2 199 003.36	31,687.06 (by 4317.94)	3 265 431.33	1 683 333.33	31,301.82 (at 7616.90)	2 534 960.33
After 10 years	1 298 718.21	29,247.39 (up from 6757.61)	3 381 708.41	683 333.33	18,527.28 (at 8330.27)	2 624 956.88

The most profitable option for annuity payments in terms of the amount of overpayment is early repayment with a reduction in the term in the first year of lending. For differentiated payments this option will also be the most optimal, but the amount of overpayment will not change significantly even if the payment is reduced, and the difference will be small if the same amount is paid after 5 years.

Based on the above calculations, the following conclusions can be drawn:

• if you can choose a method for calculating monthly contributions, differentiated payments are the most profitable;
• It is recommended to partially repay the debt at the first opportunity, preferably at the very beginning;
• The most profitable option for recalculating the schedule for early repayment is to shorten the term.

Ways to Reduce Mortgage Payments in 2018

Difficulties in paying a mortgage can arise not only in the event of deterioration financial situation borrower, but also due to changes in external economic factors such as exchange rate fluctuations (for foreign currency loans) or changes in certain economic indices, to which “floating” loan interest rates are tied. Under any circumstances, there are several solutions.

State support program for mortgage borrowers

Decree of the Government of the Russian Federation No. 961 of August 11, 2017 made it possible to resume state support for mortgage payers who find themselves in difficult life situations. Basic terms of provision:

• payers are combat veterans, disabled people and parents of disabled children, legal guardians of at least 1 minor child or a child under 24 years of age studying full-time;
• the mortgage has been paid for at least 1 year;
• monthly payment increased by 30% or more;
• collateral housing is the only one;
• There are restrictions on the area of ​​mortgaged housing depending on the number of rooms.

Under this program, the bank can reduce the mortgage amount to 30% of the balance of the principal debt (no more than 1,500,000 rubles) at the expense of public funds. To obtain detailed information and verify the bank's participation in the program, the borrower should contact the lender's office.

Refinancing

This term implies the issuance of a new loan, the amount of which will cover the remaining interest and principal, and the terms of payment of new payments will be more optimal for the borrower.

Most often, banks do not refinance their own loans, but you can use this product through another credit institution. Basic conditions for on-lending:

• at least 12 payments have passed since the start of the loan;
• the balance of the principal debt at the time of circulation is at least 500,000 rubles;
• payment was made without delay throughout the entire period;
• borrowers meet the requirements for assessing solvency.

Refinancing allows you to refinance at a reduced interest rate, as well as increase the period for full payment, which will significantly reduce your mortgage payments.

For example, if a borrower pays a mortgage monthly at 12% per annum in the amount of 36,005 rubles, and there are 10 years left until full repayment with a debt of 2,200,000 rubles, then when refinancing the same loan at a rate of 10.5%, the monthly payment will decrease to 29,686 rubles per month .

When choosing a refinancing program, you must take into account bank commissions, insurance amounts and conditions for changing the payment amount or rate to select the most profitable option.

Restructuring

The credit product used by banks for their own “problem” loans. Its essence is to change the parameters of the agreement for a certain time or until the end of the loan term in order to provide the opportunity for a bona fide payment by a borrower experiencing financial difficulties. Restructuring is most often used in the following cases:

• birth of children in the borrower's family;
• decrease wages or reduction/dismissal;
• serious illnesses of borrowers requiring long-term treatment;
• loss of close relatives.

You can change the size of the mortgage if your salary has decreased or other unfavorable conditions for payments have arisen in various ways, subject to the approval of the bank:

• provision of “credit holidays”, within which the payment is significantly reduced for a certain period (most often up to 12 months) due to deferment of interest payments with an increase in the period of full repayment;
• prolongation of the loan with a reduction in payment and maintaining the interest rate;
• reduction of the interest rate and recalculation of the payment schedule by decision of the bank.

A separate case of restructuring is the provision of payment deferrals when the date of receipt of income changes. A number of banks do not allow changing the mortgage payment date. But in situations where the borrower’s salary payment date changes (including when moving to a new job), the mortgage payment may be made 1 month late due to the significant size of the monthly payment. Many banks, including Sberbank, accommodate customers and provide “credit holidays” or deferred payments for 1-2 months to prevent overdue payments.

To consider the issue of restructuring under any circumstances, it is necessary to provide a package of documents at the request of the bank, as well as write a corresponding application.

Finding funds for early repayment

With help additional contribution You can reduce your mortgage debt using maternity capital or tax refund amounts. The collateral housing can be rented out if the borrower finds another place to live.

Review of the mortgage term

The maximum mortgage repayment period in most banks reaches 25-30 years. Many borrowers are forced to apply for this period if their solvency is insufficient for a shorter period. The difference in terms of payment and the total amount of overpayment for a loan of 3,000,000 rubles at 12% per annum for 15, 20 and 30 years will look like this:

Increasing the mortgage term

After conclusion loan agreement The number of years on a mortgage can be increased only in exceptional cases by decision of the bank. To do this, you must provide documents and a statement outlining the reasons why full repayment should be extended. The bank considers the application in the prescribed manner, but always has every right to refuse such a request.

It is possible to “extend” the period after the transaction is completed by individual conditions when restructuring a loan or in case of successful refinancing in another bank for an optimal period for the borrower.

Reducing the mortgage term

Removing years from a mortgage usually does not require special renegotiation. The borrower always has the right to make early repayment regardless of the amount at any period in accordance with the terms of the loan agreement. While maintaining the size of the monthly contribution, the term will decrease automatically, and the ratio of principal and interest for annuity payments will change after each repayment.

How to extend the mortgage decision period

If the borrower received a positive decision from the bank to apply for a mortgage, the period of which is usually 1-3 months, but due to a number of circumstances did not have time to use it, then for a new approval, banks usually ask to update the documents, the validity period of which is established by the internal regulations of the credit institution. These most often include:

• income certificates;
• copies of work records;
• certificates of family composition;
• extracts from the Unified State Register.

When submitting a new package of documents, the bank’s decision most often does not change if the client’s financial or family situation remains at the same level, and the conditions mortgage programs not changed.

Conclusion

During the entire period of payments on a mortgage loan, the borrower may encounter a number of life difficulties that may affect financial stability and the ability to make timely payments. But in every situation you can find a way out. The most important thing is timely awareness and immediate contact with the bank to jointly resolve mortgage problems.

The monthly payment date is approaching, but there is no money. There is no need to panic and hide from the bank. This is fraught with fines and damaged credit history. Next, we will tell you how you can legally reduce the amount of your loan payment using the example of the largest banks.

Is it possible not to pay a loan?

A borrower who finds himself in a difficult life situation has several options not to repay the loan debt or to get a temporary respite:

• negotiate with the bank about credit holidays;
• hope for payment from the insurance company;
• file for bankruptcy;
• invalidate the contract through the court.

Of course, you can go the other way: simply stop answering the creditor's calls. But it is not recommended to do this. The amount of debt will grow like a snowball due to fines and penalties for collection, and credit history will deteriorate so much that the loan will subsequently not be issued by any bank.

If, when receiving a loan, the borrower additionally entered into an insurance agreement, the insurance company can cover the debt to the bank.

Insured events in different situations are:

• job loss;
• temporary disability due to illness or injury;
• receiving disability.

Pay attention to the terms of the policy. Not all insurance companies are ready to repay 100% of the debt. For example, AlfaStrakhovanie for one of its products in the event of temporary disability compensates the bank for an amount equal to three monthly payments. In other words, the borrower is given time to get back on his feet and continue making payments on the loan.

If the borrower's financial condition is close to collapse, bankruptcy proceedings may be a solution. The law establishes a number of conditions for its launch. To begin the bankruptcy process, you need to file a claim with the arbitration court. Debts to creditors will be distributed through the sale of the borrower's property. If there is nothing to take from him, he will be freed from all debts.

An option to write off a debt may be to invalidate the loan agreement. This is possible if a enslaving deal was concluded. Let us say right away that it is extremely difficult to prove this. It is better to immediately contact an experienced lawyer.

Most often, enslaving conditions are offered by microfinance organizations. The concept of such a transaction is given by Article 179 of the Civil Code of the Russian Federation. In order for the court to recognize an agreement as enslaving, at least one of the following conditions must be met:

• the creditor used violence or threats;
• one of the parties was deceived or not informed important conditions transactions;
• the borrower was forced to accept unfavorable conditions due to a difficult life situation.

In these cases, you need to file a lawsuit and seek to have the contract declared invalid.

How to legally reduce your payment

Postponement

Deferment is also called credit holidays. The bank allows the borrower to pay only interest for some time or, conversely, to repay only the principal debt. In some cases, clients are completely released from the obligation to make monthly payments for a period of 1 month to a year. Most often, this method is used for long-term loans - car loans and mortgages.

When to take: in emergency situations, when the borrower is confident that the situation will soon normalize and he will be able to make monthly payments. This option is not suitable for those who do not expect financial income in the near future.

How to get a:

• contact the bank with an application indicating the reason for the deferment;
• take with you your passport, a copy of the loan agreement, documents confirming the deterioration of your financial situation;
• wait for a response and carefully study the proposed conditions.

Pros:

• the monthly payment becomes smaller or is completely canceled for some time;
• the borrower gets the opportunity to solve financial problems.

Minus This option has only one option - as the loan term increases, the amount of overpayment increases. In addition, if the calculation is incorrect, credit holidays may not help, but rather worsen the financial situation.

Example:

Many banks provide credit holidays. For example: VTB, Promsvyazbank, Post Bank, Vostochny, Home Credit Bank. The service is available, including via , using an example of which we will look at the principle of how vacations work. The deferment here is formalized by an additional agreement to the contract. It is provided for a period of 3 months to a year. After the end of the holidays, the bank draws up a new loan repayment schedule. No penalties will be assessed.

For example, a client took out a mortgage for 10 years. The cost of the apartment is 2 million rubles. An initial fee– 600 thousand rubles, loan amount – 1.4 million rubles. The monthly payment at a rate of 9.59% will be 18 thousand rubles. Suppose the borrower repays the loan in good faith within 7 years, but a child is born in his family, and the bank agrees to a deferment.

During the year, the client will only be able to pay interest. At the end of the term, they constitute a smaller part of the monthly payment amount. In our case, during the year the borrower will have to repay not 18 thousand rubles every month, but 4 thousand rubles. The loan amount, the so-called loan body, will remain unchanged.

Since the loan term does not increase, the amount of the principal debt that the borrower did not pay during the deferment period will be divided by the remaining number of months after the loan holiday and added to the amount of the monthly payment. You need to be prepared for her to grow a little. In this case there will be no overpayment.

Restructuring

Pros:

• obtaining a convenient debt repayment schedule;
• reduction of monthly payment;
• maintaining a positive credit history.

Minuses:

• increasing the loan term;
• significant overpayment.

Example:

To make the principle of restructuring more clear, let’s look at it using VTB as an example. The borrower took 700 thousand rubles. on credit for two years at a rate of 13.9%. The monthly payment is 33.5 thousand rubles. The total overpayment when repaid according to the schedule is 105.8 thousand rubles. For six months, the client regularly made payments, but due to health reasons he was transferred to a lower-paid position. The monthly payment has become unbearable. The balance of debt to the bank amounted to 542.7 thousand rubles.

The bank proposed the following restructuring plan: increasing the loan term by a year. The monthly payment decreased to 21.5 thousand rubles. At the same time, the total overpayment increased to 147 thousand rubles.

Refinancing

(or refinancing) is the transfer of debt from one credit institution to another. You can refinance:

• consumer credit;
• mortgage;
• car loan;
• credit card.

Each bank has its own conditions. Let's consider this option using Sberbank as an example. To refinance a loan you must:

• the loan term was 6 months or more;
• the debt was repaid on time within a year or during the actual loan period if the loan was issued less than 12 months ago;
• at least 90 days remained until the end of the loan agreement;
• No restructuring was carried out on existing loans.

When should you refinance your loan? if the borrower has several loans from different banks and wants to combine them into one. This option can also be used if the refinancing rate is significantly lower than on existing loans.

How to get a:

Contact the bank with documents:

• application form;
• copies of loan agreements;
• passport;
• papers confirming financial status and employment.

Documents must be submitted to the office at the place of registration. Sberbank considers the application within 2 days, and within a month the loan is issued.

Pros:

• instead of several loans, one is paid;
• interest rate reduction;
• reduction in monthly payment;
• saving time by depositing money into only one bank.

Minuses:

• sometimes permission from the creditor bank is required;
• possible additional expenses(for insurance, home appraisal in the case of a mortgage);
• some banks limit the number of refinanced loans (for example, at Sberbank you can combine no more than five).

Example:

The borrower took out a mortgage for housing in the amount of 2.4 million rubles. at 12% per annum. The loan term is 13 years. The monthly payment amounted to 30,448 rubles.

After 3 years, the client decided to refinance the mortgage at 9.3% per annum. He took out a new home loan for 10 years. The monthly payment amount decreased to RUB 27,111.

When the bank will cooperate

If you submit an application before the first delay occurs and convince the bank that payments for current conditions loans will not be possible in the near future, the institution will meet them halfway.

In practice, banks accept the following reasons as valid:

• dismissal due to mass layoffs or liquidation of the enterprise;
• addition to the family;
• serious illness.

Each of them will have to be supported by documents.

Consequences of delay

If the loan is already overdue, a bank employee will call the borrower to clarify the reason and find out when the payment will be made. On the day after the date specified in the schedule, penalties and fines will begin to accrue. As a result, the debt can increase significantly in a short time.

If the client does not answer calls, the financial institution files a formal complaint. It indicates the amount of debt, the amount of penalties and fines, as well as the requirement to repay the resulting debt.

The bank can turn to collectors, involve its own collectors, or sue.

In the first two cases, the borrower will receive a call, come home and work. For car loans and mortgages, the bank has the right to terminate the agreement and take away the pledged property (apartment or car) from the client.

Why you don’t need to be afraid of loan court

The court will side with the borrower if the latter proves that he did not pay the loan due to a difficult life situation. An attempt to resolve the situation with the bank will also work in favor of the debtor. The court may reduce the amount of debt by writing off penalties or fines if their amount turns out to be disproportionate to the amount of the loan. In addition, the judge has the right to approve a new payment schedule that will suit both the borrower and the bank. The client may also ask for a temporary deferment.

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Burden credit debts weighs heavily on many citizens of our country. Some borrowers repay their debt in good faith, while others, for some reason, cannot consistently fulfill their obligations. But there is a third “group” of borrowers who are constantly in search of savings. How to save on loan payments? How can you ease your financial obligations? We will answer these questions in this article and find out which method is most beneficial for the borrower in a given situation.

What is the significance of the system for calculating payments for early repayment of a loan?

One of the components of the bank's profit is the interest on the loan paid by debtors. Accordingly, the longer the loan term, the more interest the borrower will pay to the lender for using the loan.

It is logical that it is more profitable for the borrower to shorten the loan term in order to reduce interest payments. However, do not forget that this increases the amount of the monthly payment. And this can cause significant damage family budget. But the choice of restructuring the payment schedule depends not only on the desire and financial capabilities of the borrower. This depends on the policy of the creditor itself and on the system by which the debt repayment schedule was initially calculated.

Simultaneously with the conclusion of the loan agreement, the bank specialist issues his client a monthly payment schedule. This document is a table that presents the following important information: loan payment date and monthly payment amount.

This table should also show the breakdown of the principal debt by loan and interest. Just by analyzing the correspondence of the tabular data, you can understand what system the bank uses to calculate interest on the loan. However, the lender must provide such information to its borrower before applying for a loan and explain the significance of the chosen system.

There are 2 payment systems in total: annuity and differentiated.

For the attention of potential borrowers: always check with bank specialists what calculation system the bank uses to calculate interest payments!

Annuity is a system in which debt is divided into equal tranches. Each tranche includes part of the borrower's principal amount + interest for using the loan. Naturally, the bank seeks to extract maximum benefit for itself, so annuity is an ideal system for the lender. At the beginning of the loan term, the debtor pays the bank most of the interest debt, and the principal debt remains “at the end” of the loan term.

Note to debtors: it makes no sense to repay the debt early after most of the interest has already been paid...

Almost everything Russian banks establish a system of annuity payments for mortgages, and differentiated payments apply for consumer loans.

When calculating a loan using differentiated payments, the amount of overpayment on interest will always be lower than with annuity payments.

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How to exchange an apartment for an apartment: with and without surcharge

Differentiated payments have unequal amounts of monthly payments. As a rule, large amounts come at the beginning, and by the end of the term the amount comes to meager amounts. Despite the fact that the scheme itself may not be very convenient for the borrower in terms of budget planning, economically– it is much more profitable than an annuity.

With differentiated payments, it is more profitable for the borrower to shorten the loan term. Of course, in this case, the monthly payment will become even larger, but in return, the interest on the loan will be significantly reduced. It turns out that the borrower pays off most of the principal debt itself. Despite the fact that differentiated payments are inherent consumer loans with not very large ones monthly payments, the client can significantly save on overpayments by reducing the loan term.

In what cases can you shorten the loan term or reduce the monthly payment?

First, let's look at the main arguments in favor of one option or another:

Arguments for reducing the amount	Arguments for reducing the term
Was decorated very large loan, payment for which exceeds 1/3 of family income	You have chosen a loan with an annuity payment (if the payment amount does not change from month to month)
You have chosen a loan with differentiated payment (if the payment amount changes from month to month)	The loan was issued quite recently and there are still more than 2/3 of the term until its repayment
Especially if the payment amount increases by the end of the loan term	If the payment amount suits you and does not exceed 1/3 of family income
If, according to the agreement, shortening the loan term entails a fine	If reducing the loan term does not entail a fine

According to statistics, the average term of a mortgage loan in Russia is 12-15 years. However, the actual repayment period is 8-10 years. Russian borrowers prioritize repayment bank debt, and at the slightest opportunity, they try to pay it off ahead of schedule.

It also happens that the borrower ceases to be solvent and urgently needs help. The financial recovery of the borrower can be achieved by:

1. Refinancing.

Re-registration current loan at a lower rate. Banks are reluctant to take this step, demanding from borrowers a large package of documents - evidence of deterioration financial condition. This is understandable. When interest rates fall, lenders lose hundreds, even millions of thousands of profits. Financial experts are convinced, even despite the long red tape of re-issuing a loan (collecting the necessary documents, submitting applications to several banks - each with its own requirements, etc.), refinancing a loan for the borrower will be profitable even with a difference in rate from 1 ,5%.

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2. Loan restructuring.

For borrowers who find themselves in a difficult life (and, accordingly, financial) situation, the State provides a guarantee of assistance in repaying the debt (in the form of the borrower receiving a one-time compensation and debt restructuring).

Typically, restructuring applies to mortgages. There are several types of restructuring:

1. Deferment of the main payment. For a certain time, the borrower will pay only the accrued interest, and will begin to repay the principal debt only after some time;
2. Changes to the monthly payment schedule;
3. Converting a foreign currency loan into ruble.

3. Repayment of the principal debt of the loan with the amount of maternity capital.

This option is possible with strict compliance with Russian legislation. Housing in which the amount will be invested family capital must be suitable for family living. And also the mother (legal representative of the children) will have to draw up a notarial obligation to allocate shares to the children.

4. Partial early repayment of the loan

According to Russian legislation, any citizen (borrower) has the right to repay his debt obligations to banking organization. To do this, you only need to notify your creditor bank in the form of a written statement. This application must indicate:

1. About your intention to partially or fully repay the loan early;
2. Date when this action planned to be done;
3. Amount deposited into the account Money.

All this data is necessary credit specialists bank in order to calculate the loan balance in advance, as well as prepare everything Required documents to close the loan (or partially repay it early), calculate a new payment schedule - in case the deposited amount is not enough to fully repay the loan.

When depositing an amount of funds into your account that is greater than the amount of the monthly payment according to the schedule, you must write a statement about their debiting to the account credit debt(application for early repayment of the loan). Moreover, if the borrower wants to shorten the loan term, then it is necessary to ensure that the bank recalculates correctly.

Attention! The total amount of interest paid is subject to recalculation, and not just payments for the period remaining after early repayment.

If the credit institution refuses to recalculate in this form, then you can safely go to court. The bank, pursuing the goal of unjust enrichment, violates banking legislation in general and the rights of the borrower in particular.

Attention! All fees and penalties for early loan repayment are illegal!

However, unfortunately, not all banks meet halfway " early workers" Some credit organizations illegally introduce penalties for early loan repayment, while others completely prohibit this action. Such measures pursue the goal of 100% profit from issuing credit funds. However, this is not legal.

Russian legislation protects the interests of borrowers, allowing them not only to repay their loans to banks ahead of schedule, but also to choose the course of action with the remaining amount. In particular, clients of commercial banks may agree to a reduction in regular payments or a shorter payment period. However, most citizens, without knowing it, suffer losses by choosing the wrong option. How to properly use the privilege of choice?

To repay a loan early – is it more profitable for banks to reduce the term or payment?

To begin with, it is worth considering an ordinary situation. The client came to the bank branch in order not only to make a regular deposit on time, but also to cover half of the loan.

IN commercial bank he was asked to choose one of two options (No. 102-FZ):

1. Reduce regular payments.
2. Reduce payment time.

If a client asks bank employees to help him with a difficult choice, the latter will insist on the first option. Why is it profitable for the bank to “hold” the client until the end of the term specified in the loan agreement?

There are several reasons for this:

• Firstly , interest on the loan is usually accrued on the balance of the debt. Accordingly, the longer they accrue, the greater the benefit of the financial institution.
• Secondly , if the size of regular payments decreases, the client’s solvency increases, which reduces the risk of delay in repaying the loan.
• Third , retaining a client increases the likelihood of him using other bank services - refinancing, servicing a credit card (if one is linked to a loan), purchasing valuable papers in exchange for debt, etc.

This option is beneficial to the bank. But is it favorable for the client?

Is it profitable to reduce the payment amount when the loan is repaid?

It is inappropriate to state unequivocally that reducing the amount of payments is an extremely unprofitable prospect. In practice, there are cases when the client should choose this particular scenario.

To begin with, you should pay attention to the conditions that allow you to indicate this particular point in the application for amendment of the loan agreement:

1. The loan was issued for a significant amount, and therefore the current payments on it “eat up” about 40-50% of the family budget.
2. The monthly payment amount is more than 1/3 of the borrower's income.
3. The loan is repaid in differentiated payments (especially with an accrual total).
4. The terms of the loan agreement indicate that shortening the loan term upon early repayment is fraught with penalties (this practice is not illegal, since the bank also offers clients an alternative “non-penalty” option).

Important point: The borrower should read the loan agreement quite carefully before signing it, since it may stipulate that a reduction in regular payments is the only possible variant actions regarding the amount remaining after early repayment.

When is it better to reduce the loan term with early repayment?

Taking into account all the above facts, we can assume that shortening the loan term is the most profitable option for the borrower. This is obvious, since this way the client gets rid of the “burden of credit” as soon as possible.

However, there are a number of conditions under which the advantages of such a solution become especially obvious:

1. If the loan is repaid in equal payments (as an annuity).
2. If the loan was issued recently and there are still more than 2/3 of the term until its repayment (for example, mortgage for a period of 20 years, issued three years ago).
3. If the bank does not impose any fees on the borrower for early repayment, subject to a reduction in the remaining term of the loan agreement.
4. If the size of regular payments is burdensome for the borrower (their share in his budget is no more than 25-30%).

"Underwater rocks"

It would seem that the conditions for choosing one or another option have been announced... However, in reality, making a choice is not always easy.

Often the conditions that banking institutions indicated in the loan agreement radically change things:

• Firstly , the bank may indicate minimum amount repayment, which will give the borrower access to the opportunity to shorten the loan term.
• Secondly , changing the loan agreement may contain hidden fees that will significantly reduce the benefits of any of the options.
• Third , reducing the repayment period may involve a fee additional documents, performing a lot of formalities, which negates the advantages of this option.

In any case, it is important for the borrower to understand that, in general, early repayment of a loan always involves a reduction in overpayment if it occurs in the first half of the term of the loan agreement.

If a mortgage or other loan has exceeded the midpoint, then depositing large sums into the bank is extremely inappropriate: the interest on the loan has actually already been repaid and the matter is only to cover the balance of the loan.

Important point: Some Russian banks allow clients to shorten the payment period and at the same time slightly reduce the payment (use both instruments).

That is why you need to clarify the possibility of such an option with the servicing bank.
Thus, it is impossible to give a clear answer to the question of what is more profitable – shortening the term or reducing regular payments on the loan balance. Most often, the benefit is hidden in shortening the period of interaction with the bank. But there are situations in which it is advisable to choose a reduction in payments.