The topic of housing lending is relevant for everyone, including residents of Belarus. Thus, citizens of the Republic of Belarus can use the services of Belinvestbank, which has been operating in the financial services market for more than 25 years. But, before turning to lending services, it is worth carefully studying what conditions the bank offers its clients, as well as all interest rates. What Belinvestbank loan for the purchase of housing can be obtained at the moment.

Within the framework of one loan program, a potential borrower can apply for a loan for the following needs:

• construction of a residential building;
• construction of other real estate;
• purchase of a finished apartment or house;
• purchase of another property.

As for the basic lending conditions, they are the same for all programs: the interest rate is 1.13 overnight rates, in turn, the overnight rate ranges from 12 to 14% and is set daily. Funds for the purchase of a finished property are transferred to the seller’s personal account, but funds allocated for the construction of real estate are provided in the form of a non-revolving line of credit. By the way, do not forget that a loan requires mandatory collateral in the form of collateral for the purchased or constructed property.

Please note that the rate for all loan programs is fixed; it depends on the overnight rate; this is a value that changes at the initiative of the National Bank of the Republic of Belarus daily. In general, the annual interest is valid throughout the term of the loan agreement, unless obligations arise that require a revision of the annual value in accordance with the current legislation of the Republic of Belarus.

In addition to collateral in the form of the loaned object, a guarantee from individuals is required. The maximum loan amount is calculated depending on the income of the applicant and his guarantor. In addition, the bank discounts the interest rate under certain circumstances. For example, if an applicant needs to improve his living conditions, he receives a discount of minus 2%, or he provides a deposit as security for a loan in the amount of 21% to 70% of the loan amount, the discount averages 0.6% or 2%. The bank also gives a discount of 0.6% if the client has a positive history with the bank at least 2 times.

Since we are talking about large loan amounts, the bank checks the client’s solvency as much as possible, that is, he needs to provide a salary certificate for the last 6 months. The borrower will also need a passport, an application form and permission to check the borrower’s credit history. A similar list of documents is required from his guarantors.

Please note that the bank may require additional documents depending on the individual lending conditions for each borrower separately.

Program Apartment as a gift

This loan program is designed for the purchase of housing in a building under construction or on the secondary housing market. The seller can be a developer or a legal entity or an individual. The maximum loan term is 25 years, the interest rate on the loan is floating, for the first 25 months the client pays the overnight rate multiplied by 1.5 points, but not less than 11.5% per year, starting from the 26th month, the interest rate is also 1.5 points multiplied by the overnight rate, but not less than 13.5%; maximum loan term is 25 years.

In case of a positive response to the application, the funds are transferred to the seller’s account in full, if the borrower buys housing on the secondary housing market, then in the form of a non-revolving credit line to the developer’s account if the loan is provided for the purchase of housing at the stage of its construction.

As for other loan conditions, the maximum age of the borrower is 50 years at the time of application. The minimum amount of the borrower's own investment is 20% of the value of the property. As collateral, the bank offers a guarantee from individuals, plus a pledge of the purchased property. The maximum loan amount will be calculated depending on the borrower's earnings. As part of this program, the borrower will be required to provide a complete package of documents.

Apartment program from partners

Belinvestbank cooperates with several development companies in the Republic of Belarus, these include:

• LLC "Company Architect";
• Strominvest;
• TENKinvest;
• Zubr and K
• Zhilstroy, etc.

Here, the terms of cooperation are strictly individual, the interest rate ranges from 9.9% per year and above, loan terms from 20 to 25 years. The down payment amount is from 10% and above. Individuals can act as guarantors, plus the purchased housing serves as security.

Construction of residential real estate using subsidies

A Belinvestbank loan for housing construction is provided using a subsidy within the framework of Decree No. 240 of 07/04/2017. According to the terms of the loan, the loan amount depends on the value of the property being purchased, the interest rate is fixed, it is the refinancing rate + 4 points. The loan is provided only for participation in shared construction, that is, the loan funds are transferred to the developer’s account in the form of a non-renewable credit line.

Now it’s worth understanding what the essence of the housing loan subsidy program is. In fact, within the framework of the decree of the President of the Republic of Belarus, the loan is provided subject to certain conditions:

1. Citizens who are registered as needing to improve their housing conditions, in respect of whom the authorized bodies have accepted the decision to provide a subsidy for the payment of part of the interest or the amount of the principal debt, can receive a loan.
2. You can take out a housing loan only for the purchase of an apartment in an apartment building or the construction of an individual residential building.
3. The maximum loan size depends on the borrower's solvency and cannot exceed the average cost of residential premises established by the Executive Committee.
4. The bank allows the use of individuals as collateral.
5. The purchased housing is pledged to the bank until the borrower has fully fulfilled the loan obligations.
6. The minimum down payment is 10%, which is paid by the borrower from his own funds.

Please note that as part of this proposal, the borrower will be required to provide a full set of documents, plus an extract from the Executive Committee’s decision to provide a subsidy.

To summarize, you can undoubtedly take out a housing loan from Belinvestbank, but you should pay attention to the interest rates. If we talk about the profitability of mortgage loans in the Republic of Belarus, then, given the annual interest rate, such loans can hardly be considered profitable and appropriate for the borrower. But the problem is that the refinancing rate of the National Bank of Belarus is too high, which is why the annual interest on loans is quite high.

The topic of mortgage lending is of interest to many, and citizens of Belarus are no exception. So, they can get a loan for housing at Belinvestbank, which has been on the lending market for more than 25 years. But before applying, you need to carefully study what offers the bank has for borrowers and all loan rates.

Belinvestbank offers a financing program that involves the purchase or construction of residential and commercial real estate. There is also a preferential offer for obtaining a loan with government support.

Tariffs and conditions

In 2019, the interest rate for all types of programs, except preferential ones, is 15%. For subsidized – 14%. In both cases, the rate is floating, but in the first it is tied to the overnight rate set by the National Bank of Belarus (1.25), in the second - to the refinancing rate (+ 3%).

The maximum amount depends on the borrower, and in the preferential program it is calculated from the standardized cost of housing, taking into account the client’s solvency. Also in a number of regions (Vitebsk, Minsk and Mogilev) there are special programs for apartments from partner developers, for which reduced interest rates are provided.

Loan for real estate financing

Amount of credit

depends on the borrower

loan terms

from 10 to
20 years

loan rate

from 14%
per annum

* - early repayment without penalties

Loans for the construction and purchase of residential real estate are provided for a period of 20 years, others - for 10 years. In the case of a purchase, this is a one-time issue, and in the case of construction, it is either a one-time or non-renewable line of credit. For all offers, funds are provided by cashless transfer to the account of the seller (when purchasing on the secondary market) or the developer.

A number of additional conditions also apply:

• contribution by the borrower of his own funds in the amount of at least 10% of the cost of the purchased property;
• presence of a guarantor;
• pledge of a constructed object for the duration of the mortgage after receipt of documents for it;
• possibility of early repayment without additional payments.

Lending with state support involves the targeted use of funds - for the construction of residential premises and single-family residential buildings.

Requirements for borrowers and required documents

Funds are provided to citizens of Belarus subject to the above conditions. To participate in preferential lending, you must document your need for living space. This applies primarily to those who live in dilapidated houses. In other words, you need to go to the administration at your residential address and get on the waiting list for housing.

To obtain a home loan, you must provide a full package of documents, which includes:

• passport;
• questionnaires; certificate of income for at least the last 3 months (or Belinvestbank salary card);
• a copy of the work book;
• consent of the borrower and guarantors to provide a credit report;
• documents for the collateral;
• other papers at the request of the bank.

The passport and application form are provided by both the borrower and the guarantors.

The acquisition of residential space in most cases involves borrowing funds. Belinvestbank offers several housing loan programs for the population of the Republic of Belarus.

Loan for real estate financing

You can obtain borrowed funds for the construction of a residential building, or other real estate, or for the purchase of finished living space.

The loan size depends on the estimated value of the property, and the borrower must contribute at least 10% of his own funds to pay for housing. The solvency of the main borrower and co-borrowers is taken into account.

Guaranty is allowed not only from individuals, but also from legal entities.

At any loan term, partial or full early repayment is permitted without penalty.

Package of documents

To obtain a housing loan, you will need to prepare the following documents:

application from the main borrower, indicating personal data;

• borrower's passport;
• passports of guarantors;
• certificate of income for the last 6 months of the borrower and guarantors;
• written consent of the borrower and his guarantors to provide a credit report.

The bank has the right to request additional documents from the borrower or guarantors.

Procedure for obtaining a loan

You can submit an application for a loan to purchase housing at a Belinvestbank branch or on the organization’s official website. The borrower does not receive loan funds. The bank transfers money by non-cash method to the account of the developer of the property or the seller of the finished property.