Mortgage on the primary real estate market

How can residents of St. Petersburg buy housing? There are two types of housing acquisitions – on the primary or secondary real estate market. The cost of an apartment on the primary market is less, but despite this, most of the population does not have the necessary amount to complete such transactions. This is where a type of lending called mortgage lending comes to their aid.

This type of real estate transaction is becoming increasingly popular. Thus, over the past year, the number of transactions involving credit funds has increased almost 3 times compared to the previous year. Moreover, people are increasingly willing to purchase housing under construction on credit. Now about 40% of real estate transactions are carried out using borrowed funds. According to analysts' forecasts for this year, the trend will continue, and this share will be 60%. The number of banks providing mortgage loans reaches 25-30. It happens that several banks simultaneously implement their lending programs in a standing property. So competition in this market is quite strong. Therefore, in the fight for customers, banks have to reduce interest rates on this type of loans. If recently mortgage rates were in the range of 16-17%, then this moment the average rate is 10-12% per annum.

Currently, about 80 construction companies are operating in the field of housing construction in St. Petersburg. A quarter of them received bank accreditation. It is very tempting for builders to be accredited with several banks at once, as this allows them to reach a larger number of potential clients.

Lending programs for real estate transactions for the primary housing market appeared relatively recently. The fact is that neither builders nor credit organizations wanted to engage in this area of ​​activity. For banks, this type of loan implied high risks, while for developers it was more profitable to sell ready-made apartments. But the Federal Law “On participation in shared construction of apartment buildings and other real estate” put construction companies in a situation where they were forced to start selling apartments that were still under construction. The fact is that when lending to construction or financing it, banks and other financing organizations first draw up a project, which includes a forecast of the receipt of funds from the implementation of activities. The actual implementation of the plan is subject to strict control. Thus, it became unprofitable for developers to leave unsold apartments until the completion of the construction process. In addition, the high prices of finished apartments somewhat embarrassed future home buyers.

At the same time, the number of people wishing to purchase housing on the secondary market has decreased slightly. Therefore, the classic mortgage has become less in demand. Thus, banks were faced with the need to seriously think about the possibility of implementing lending programs for the purchase of housing under construction. 2007 can safely be considered the year of the birth of mortgage lending in the primary real estate market in our country.

Lending for the purchase of housing on the primary market, in its mechanism, is increasingly reminiscent of lending for transactions on the secondary market. Until the project is completed, the loan is subject to a higher rate, the bank engages a construction company as a guarantor, and early repayment of the loan is prohibited during the first few years of the mortgage agreement.

Currently, the term of mortgage agreements of most credit institutions is 20-25 years, although some banks have already increased this period to 30 years. In particular, such maximum loan terms are offered by KIT-Finance, VTB 24 and some other large banks. At the same time there is a decrease minimum percentage down payment. For example, Sberbank of Russia in its credit program“young family” sets a 5% minimum contribution. But the programs of individual banks for lending to real estate transactions in the primary market are distinguished by a higher down payment than the programs of the same banks for lending to transactions in the secondary market. For example, such differences can be found at MDM Bank.

Rates on ruble loans are usually a couple of percent higher than on loans in foreign currency. Mortgage lending rates in foreign currency currently range from 9.5% (this rate is offered to its clients by UralSib Bank) to 12% at Seregatelny Bank of the Russian Federation.

The requirements that banks place on their potential borrowers are, in principle, almost the same in all banks. Firstly, the borrower's age must be between 18 and 55 (for women) and 60 (for men) years. Moreover, banks pay attention to the fact that the loan expires before the client reaches 75 years of age. The borrower must have worked at his last job for at least several months. The income of the future borrower is also taken into account - in particular, the bank checks whether payments on the loan will not exceed a share of 40%. True, if this figure is exceeded, banks are ready to meet clients halfway and make this calculation for the total income of several co-borrowers at once. And what’s noteworthy is that co-borrowers do not have to be relatives (which is very important for common-law spouses). Thus, even a not particularly wealthy family can get a mortgage loan (for example, MDM Bank requires that the income taken into account be at least $350 per month). But banks have one requirement that must be strictly fulfilled. We are talking about the citizenship of the future borrower. And for those who are not citizens of the Russian Federation, it is quite difficult to get a loan; such offers are only available from a couple of banks. For example, Absolut Bank and Baltinvestbank make such offers to their clients.

Banks practice charging fees for their services. The list of these services includes consideration of the application, opening of a loan account and conducting operations on it. Some credit institutions also charge commissions for transferring funds to the account of the construction company and for verifying documents potential borrower. The size of the commission for consideration of an application usually does not exceed 1.5 thousand rubles. Although some banks charge more high commissions. Maintaining a loan account costs the client 1% of the loan amount. It happens that banks do not charge any commission payments from the client at all, but this is a fairly rare case. In particular, Gazprombank is known for this.

Also, the costs of a client who obtains a mortgage loan from a bank include payment for services for assessing the property under construction and the costs of risk insurance.

Many banks have various programs to attract clients. This could be, for example, a corporate lending program. Its essence lies in the fact that for employees of companies that are large clients of a given bank, the size of the commission or the interest rate on the loan can be reduced.

An innovation in the field of lending transactions in the primary housing market is the bill of exchange mortgage lending program. In such a scheme, the collateral is not the right of claim, but a bill of exchange issued by the construction company. When the project is completed, the promissory note is repaid, followed by the conclusion of a mortgage loan agreement. Such a program can be offered to its clients by the Bank of Moscow branch in St. Petersburg.

A new program has also been launched by Baltinvestbank. Firstly, the interest rate on the loan even before the completion of construction was only 9%, moreover, for a ruble loan. All other loan terms remained standard. Only three houses in St. Petersburg were affected by this action. All three houses are in the last stage of construction, so the bank risks almost nothing, but there is a small profit.

The installment plans offered by LenSpetsSMU are striking in their diversity. This may be an interest-free installment payment until acceptance by the Civil Code (state commission). The down payment in this case will be 5%. If the buyer immediately pays from 30 to 100% of the cost of housing, a discount of 3-10% begins to apply to him. Also, installment payment can be valid for 2 years after state acceptance. In this case, the contract will rise in price by 5-12%. And an intermediate option is an installment plan for 6 months. Then the contract will become more expensive by 5-8%.

LEK does not lag behind its competitors. Their program offers the purchase of housing certificates. Ten certificates correspond to one square meter. The price is taken of a certain object and as of a certain point in time. As soon as the footage according to the certificates covers 30% of the apartment area, the housing is assigned to the buyer. The securities have liquidity.

From all of the above, we can conclude that in the very near future, mortgage lending programs for transactions in the primary real estate market will be practically no different from mortgage lending programs for transactions in the secondary market. At least this is the trend.

What experts say

Senior economist of the investment design department, Maxim Shlemen, notes that purchasing housing under construction on credit is a good option for the client. In this case, a credit institution evaluates the property, the construction company acts as a guarantor under the mortgage agreement, and the right of claim is pledged as collateral. According to the specialist, their company is well known in the housing construction market of St. Petersburg and the Leningrad region. Over the 10 years of her active work, she has established partnerships with the largest credit institutions offering their services in St. Petersburg. These are such well-known banks as the North-West Bank of Sberbank of Russia, Vitabank and others. For example, preparing affiliate program with Bank St. Petersburg. The loan term under this program will be 25 years. Objects are already known, the purchase of apartments in which will be carried out using credit funds from Bank St. Petersburg. But the company has already organized a partnership program with Vitabank, allowing home buyers to take advantage of a Vitabank loan for up to 15 years. The program applies to the purchase of housing in all objects that are being built by this construction company. Plans are also being developed to work with other large banks. It is also worth mentioning that when purchasing a home on credit, the client immediately pays the entire cost of the home using the loan funds. And he can take advantage of a 4% discount under the terms of the contract. The company also noticed that in today's mortgage lending market, the share of lending for real estate transactions carried out in the primary market is increasingly increasing. Banks are increasingly issuing loans to pay for such transactions. Developers also feel interested in their apartments being sold. Therefore, they are working to ensure that apartments in buildings under construction meet all the needs of buyers.

The entire mortgage lending system in Russia today is undergoing significant changes, says Deputy General Director mortgages", Vladimir Gliner. Mortgage lending is becoming increasingly accessible to the general public. Now banks even offer programs where you don’t have to pay a down payment when receiving a loan to purchase an apartment in a building under construction. More and more banks are lending money to clients to buy land. Mortgage currently allows the population to acquire ownership of any land, if this plot is not used in agriculture. Interest rates are falling right before our eyes. True, now banks are taking a more careful approach to assessing solvency much more seriously. Evaluated credit history in other banks, If a potential borrower attracts funds from another bank or delays payments existing loans he may be denied a mortgage loan. You can take out a mortgage only if the apartment is purchased from a specific developer. At the moment, there are only 10-12 firms on the list of construction companies with which banks cooperate. Therefore, you can purchase an apartment under a mortgage loan agreement not in any building under construction, but only in one that has been accredited by the bank. A mortgage lending agreement for a transaction in the primary real estate market is concluded on slightly less attractive terms for the borrower than an agreement for lending for real estate transactions in the secondary market. The interest rate on such loans is usually higher, and the maximum loan term is reduced to 25 years. True, such transactions are completed quite quickly. The average period for receiving a loan from the moment of submitting an application until the credit funds are credited to the borrower’s account is three weeks. In addition, the buyer does not need to check the legality of the purchase and sale transaction of the apartment, and spend money on conducting an appraisal examination and registration of the apartment. A loan officer specializing in mortgage lending will offer the buyer a variety of options, from which he can only choose the most acceptable one. Mortgage brokers will assist you in obtaining a mortgage. Their competence includes the selection of a suitable program, consultations on the preparation of documents for obtaining a loan. In particular, Mortgages cooperates with almost 40 banks and can advise clients on about 150 products. In this way, the program that is most suitable for each real estate buyer is very clearly defined. But still, the final decision on choosing one or another loan product belongs to the client. A mortgage broker is only required to help a person navigate the world of modern mortgage lending. There is a practice in which banks reduce the interest rate on loans for clients of mortgage brokers. You can also trust a mortgage broker to search for an apartment for which a mortgage is taken out. And with this option, the client saves on the services of an apartment selection agency. When making such important decisions as buying an apartment, it is better to trust the professionals.

Petersburg Real Estate Company, Natalya Lugovskaya, also notices the rapid growth of the market in the field of mortgage lending. Having learned what a profitable direction this is, an increasing number of banks are entering the market for lending for the purchase of housing in houses under construction. The difference between mortgage lending for the purchase of housing under construction and the purchase of housing on the secondary market is some restrictions regarding the choice of the house in which it is planned to purchase an apartment. Valid here necessary condition accreditation of the facility with the bank providing the client with a mortgage loan. The bank’s risks also increase due to the fact that the transfer of an apartment as collateral for a loan can only be done after the construction of the property is completed. Thus, there is an increase in interest rates on the loan during the entire period of time while the property is under construction. On average, the rates in force during this period are a couple of percentage points higher than the rates in force on mortgage loans issued for the purchase of housing on the secondary market. After the object is delivered, the purchased apartment is pledged as collateral for the loan, and the interest rate is reduced to the level of rates in force for lending real estate transactions on the secondary market. The developer, together with the bank, is developing an interaction program. Moreover, several banks can provide mortgage lending for the purchase of apartments in the same building. This allows the client to choose the most suitable loan terms for him. It is no secret that different banks offer different conditions. Vary interest rates for loans, the maximum possible loan terms. Often the criterion for choosing a bank in which mortgage lending will be carried out is not low rate, and the loan amount that the borrower can count on, or the accreditation of the construction project chosen by the client. The Petersburg Real Estate company helps its clients navigate this variety of banking offers. Also, the company's clients often have discounts on bank interest rates.

Company legal advisor "47 TRUST", Alexander Agafonov, also mentions the differences that appear when comparing two types of mortgage lending - lending for real estate transactions on the secondary housing market and lending for the purchase of apartments in houses under construction. Firstly, when lending for the purchase of housing in a property that is still under construction, more high stakes on loans. Secondly, the buyer of an apartment cannot move into it until the construction of the property is completed and all procedures for transferring ownership and registration have been completed. A construction company carrying out the construction of a project can often offer its client an installment payment plan, but the term is short. The buyer must pay for the purchased apartment before the property is handed over and put into operation. If the client requires a longer period for full settlement, the developer sends it to one of the banks that accredited this property. The bank, in turn, reviews the client’s application and makes a decision on issuing a loan and on the conditions under which the lending will be carried out. The conditions are very varied: the loan term can range from 5 to 30 years, the loan rate varies from 9 to 15% per annum; The bank accepts housing under construction as collateral; it is also possible to transfer housing already owned by the borrower as collateral for the loan. Given the enormous competition that currently exists in the mortgage market, we can expect a reduction in current interest rates in the future. It is becoming more and more profitable for the client to use mortgage loans from banks to purchase an apartment. For those who decide to purchase housing at the expense own funds, paying for the entire cost of the apartment yourself, 47 TRUST is ready to provide discounts. The company studies each specific transaction in detail and is always ready to accommodate its clients.

Mortgage payments

What monthly payments await the next few decades for St. Petersburg residents who decide to purchase an apartment in a building under construction on credit? Let's consider the options of different banks for mortgage lending. The calculation was made for an apartment worth $100,000.

Calculation monthly payments for mortgage loans from the largest banks providing their services in the lending market of St. Petersburg

Name

Loan terms

"Absolut Bank"

22.4 thousand rubles

19.8 thousand rubles

"Rosbank"

22.72 thousand rubles

"KIT-Finance"

25.2 thousand rubles

23 thousand rubles

22 thousand rubles

27.95 thousand rubles

23.9 thousand rubles

22.83 thousand rubles

"IMPEX"

25.4 thousand rubles

24 thousand rubles

26.9 thousand rubles

24.9 thousand rubles

"UralSib"

27.64 thousand rubles

25.7 thousand rubles

24.80 thousand rubles

"Raiffeisen BANK"

29.1 thousand rubles

28 thousand rubles

27.23 thousand rubles

"Promsvyazbank"

30 thousand rubles

28 thousand rubles

"Uniastrum Bank"

30.56 thousand rubles

29.6 thousand rubles

34 thousand rubles

So, mortgage lending for the purchase of apartments on the primary market is becoming increasingly popular among the population, since apartments in buildings under construction are usually 20% cheaper than apartments on the secondary real estate market. Analyzing the current situation, we can expect that already this year, mortgage lending programs for real estate transactions on the primary market will be equal in terms of conditions to lending programs for home purchases on the secondary market. If, of course, the current trend continues.

Before you take out a mortgage secondary housing in Moscow, it is worth comparing the conditions for the provision of such a product in force in various financial institutions:

requirements for the applicant;

amounts receivable;

terms of use of borrowed funds;

applicable interest rates.

Today, banks offer their clients various lending programs for the purpose of purchasing an apartment or cottage. Preferential conditions available to families whose second or third child was born after January 1, 2018.

You can submit an application both on the organization’s website and directly at its branch. No more than 5 days (in some cases - 24 hours) are allotted for reviewing information about a potential borrower.

Additional costs for the client include payment for the mandatory procedure for assessing the market value of real estate (this condition also applies when purchasing a property in a new building).

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These are buildings that are still under construction. , the object of which is real estate of the second type, is called primary mortgage.

What are the differences between a primary mortgage and a secondary mortgage?

Distinctive features are the following:

• Applying for a primary mortgage is a more complex procedure. When purchasing a secondary property, you only need to submit documents to register a new property right. The problem of the primary market lies in the fact that the borrower cannot transfer to the bank housing that has not yet been built as collateral, so he transfers the right of claim under a share agreement. After the building is put into operation, the borrower must again contact the bank to change the terms of cooperation - the apartment itself becomes collateral.

• The borrower is limited in choice. Any bank has a list of developers it trusts - the borrower will not be able to count on a mortgage if he wants to purchase primary real estate from a developer who is not on the list of reliable ones. When buying a secondary home, the borrower is not limited in choosing real estate if it meets the lender's requirements. The creditors' requirements are:

The house was not built before 1957.

The wear and tear of the house does not exceed 70%.

The house is not considered unsafe.

The property is “clean” from a legal point of view (that is, there are no third parties registered there).

• The percentage is higher. The borrower must understand what he will pay increased percentage during the entire period while the primary housing is under construction. This is due to the risk that the lender bears by holding the claim instead of the actual property as collateral. The difference in interest rate will be 1-2%.

The borrower must be firmly confident in his decision to purchase a “primary” property, because if he changes his mind, he will have to apply for a mortgage again, and it is not at all a fact that this time the bank will approve it.

What makes a borrower apply for a primary mortgage?

Banks are promoting the secondary market in every possible way, because a mortgage on an existing home is a much less risky transaction. However, for a number of reasons, it is the primary mortgage that is more profitable for the buyer:

• A square meter of housing under construction costs less, so even taking into account the increased interest rate, the buyer will save a lot in the long run.

• New housing is legally clear - this saves the buyer from having to incur additional expenses, for example, on organizing an examination of property rights.

• The buyer also saves on the services of a realtor, without whom it is now very problematic to complete a transaction for the purchase and sale of secondary real estate.

• Modern developers, striving to be competitive, provide for the presence of children's playgrounds and parking spaces even at the construction stage. Not every resale property can offer such amenities.

Special conditions of primary mortgage

Due to the high risk, banks may impose specific requirements on primary mortgage borrowers:

• Guarantors are needed for the period while the facility is under construction. In the future there will be no need for them. However, finding a guarantor is not so easy, especially considering that a citizen who is himself a borrower of a large sum of money is not suitable for this role.

• The borrower must not have children. If a minor child is registered in the apartment, it will be impossible to take away her jar, therefore, it will not be suitable as collateral. However, the bank may be attracted by the borrower’s maternity capital.

• Construction stage. The bank will not issue a loan if the construction of the house is at the very beginning stage, that is, only the foundation has been built. The borrower should submit an application when the property is close to completion.

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Welcome! Mortgage for a new building: how to apply for housing under construction? Today we will examine in detail the mortgage for housing under construction. You will learn how to purchase an apartment during the construction phase, it will be available step-by-step instruction on registration of a new building with a mortgage, as well as answers to key questions on this topic.

Primary mortgages and mortgages for secondary housing differ in a number of parameters:

1. An apartment in an apartment building under construction can be recognized as a new building within the framework of the “shared construction mortgage” program. The key cutoff in this case will be obtaining a certificate of ownership. After this moment, the apartment is considered completed and is already considered secondary, although visually it will be a completely new object in which no one has lived.

The certificate can be obtained only after putting the house into operation and signing the acceptance certificate for the transfer of the apartment. Sometimes a moment arises when a house is built and the deed is signed, but the certificate has not yet been issued by the developer. In this case, banks “no longer” can lend under the program for new buildings, and “not yet” for secondary buildings, so a number of banks are launching the so-called “ mortgage is in a dead period” (Sberbank, for example). Under this program, you purchase an apartment under a preliminary purchase and sale agreement. There is no need to be afraid of such schemes. Everything is legal and legal.

1. There are three ways to purchase an apartment under construction:

- according to DDU. This official document shareholder (investor), on the basis of which, subsequently, a certificate of ownership of the apartment will be issued. This share participation agreement contains information that you have a share in the common house under construction and the land under it, as well as other essential information.

DDU is regulated by Federal Law 214 and is the safest way to purchase a new building. Do not under any circumstances conclude preliminary agreement equity participation. If you do this, you risk never seeing your apartment. As a rule, this agreement is used by unscrupulous developers who cannot build in accordance with the law, and this promises risks of long-term construction. In this case, you will be absolutely unprotected, unlike participants in shared construction.

- under an assignment agreement (mortgage assignment of rights). Absolutely legal way purchasing an apartment. It differs from the first one in that you purchase an apartment from an investor not directly from the developer, but from a previous buyer under the DDU.

A mortgage by assignment (assignment), as a rule, has a higher percentage because the state seeks to directly support developers and encourages them to purchase apartments from the direct builder. There are also additional risks associated with the transfer of rights.

- under an agreement with housing cooperatives. A cooperative is the most unreliable form of purchasing a new building. Here you only have your membership card in your hands. There is no need to register the transaction. You simply buy a share in a housing cooperative. The apartments are accounted for by the developer. At the same time, there are risks of double sales. As a rule, this scheme is used by developers who have problems with a building permit, and they decide to first build a house and then deal with its registration with the authorities. Builders work faster than bureaucrats in offices.

In Novosibirsk there was a case with one of the buyers from the largest housing cooperative developer in the region. Instead of the promised apartment, they wanted to move him into a technical room of 8 sq.m. It turned out that the developer’s managers had already sold his apartment again to someone else. To the credit of the developer, the issue was resolved and the buyer was given the keys to another apartment, but the sediment remained. Also, classic mortgages are not possible for housing cooperative objects, but only silt and other alternative options mortgages are more expensive.

1. New buildings with a mortgage must meet a number of requirements. The developer must first go through the bank accreditation procedure for each of its properties. Each bank has its own requirements both for the reliability of the developer and for the degree of readiness of the house. Some are ready to finance a house at the excavation stage, others need to close the zero cycle, and some need to show growth of 1-2 floors and above.

A situation may arise when you cannot purchase a property under construction from a developer with a mortgage from the bank you need because the bank simply has not accredited or does not want to accredit the developer and/or the house.

1. High risk. For a bank, a mortgage on a primary home is always a risk. It is not known whether the developer will complete the house or not, therefore, in order to protect against possible problems, banks may request additional collateral (a guarantor or collateral for other real estate) during the construction period.
2. Apartment mortgage insurance and appraisal are not issued immediately after the house is opened.

Requirements for the borrower

As always, the main requirement of any bank for a borrower will be a good credit history. However, this is not the only requirement:

• All co-borrowers have a positive credit history (if there are problems, see our post “mortgages with bad credit history”);
• The borrower must have Russian citizenship and registration (if not, see the post “mortgage for a foreigner”);
• The borrower's age must be from 18 to 75 years at the time of loan expiration;
• Work experience: at the last job - more than 6 months, in general for the last five years - more than a year (there is a bank with a requirement for work experience of at least 3 months);
• The borrower's income must exceed on average 40% set amount monthly mortgage payments;

Banks may also provide you with special conditions when applying for a mortgage for a new building if you:

• Payroll client of the bank;
• You work for a person or organization that is a partner of the bank.

List of required documents

The package of documents required to obtain a mortgage for a new building is standard:

• Application (questionnaire) for a mortgage. You can ask the bank for a sample of such a statement.
• Russian Federation passport.
• If there are several borrowers, copies of documents proving their identity. Co-borrowers must also provide copies of all other required documents.
• Work book and its copy.
• Certificate of income according to personal income tax form 2 or bank form.
• For pensioners – a document confirming pension accruals (for example, an account statement).
• If the borrower is salary client of this bank, he must also provide only the card number.

Registration of a mortgage

Step-by-step instruction:

1. Decide on the developer and the facility.

Before going to the bank, you need to understand how reliable the developer is. Check the information on the Internet for missed deadlines for current and past projects, bankruptcy, reviews of equity holders and residents of the neighborhood.

It is also very important to check permitting documentation for construction, land, juristic documents according to the developer himself. It will be problematic to do this on your own, but you can order a free consultation from our lawyer. Fill out the special form in the corner. This will save you a lot of time, and most importantly, you will be confident in the reliability of the developer.

Be very careful when buying a property at the foundation stage or in the last house of the complex. These are generally the riskiest investments.

1. We decide on a bank. Check with the developer for a list of banks that have accredited the property you need. Next we collect necessary documents for the bank and submit them to the bank directly or through the developer's mortgage broker.

1. We are preparing DDU. After the bank's approval, we finally decide on the apartment option and the bank. Next, the developer’s specialist prepares the DDU. Its template is usually already agreed upon with the bank.

1. Next, the bank sets a date for the transaction. On this day, you come to the bank along with all the documents required for the application and the signed DDU. You need to pay for insurance and sign a loan agreement. A number of banks ask you to make a down payment into a letter of credit account. They will charge an additional commission for this.
2. Registration of a mortgage in the Russian Register. With all the signed documents, you go together with the developer’s employee to the court to formalize the transaction.

This process with transaction costs is described in more detail in the post “Registration of a mortgage”.

1. Transfer of money to the developer. Registration of a mortgage will take approximately 10 business days. After this, you need to contact the bank with a registered DDU. He issues the loan and transfers it to the developer.

After that, you pay the mortgage, wait for construction to be completed and then register the property.

Applying for a mortgage on a new building takes about 1 month.

Bank conditions for mortgages on new buildings

Mortgages for shared construction are available in almost all banks. Next, we have selected for you the TOP 5 offers at the moment.

Bank	Bid, %	PV, %	Experience, years	Age, years	Note
Sberbank	9,1	15	6	21-75	0.4% discount on mortgages over 3.8 million rubles. The rate on subsidized mortgages is from 6.7 to 7.7%. 0.1% surcharge for refusing electronic registration; + 0.3% if the client is not a salary worker, + 1% if he refuses insurance
VTB 24 and Bank of Moscow	9,1	15	3	21-65	8.9% if the apartment is more than 65 sq.m., salary employees PV 10%,
Raiffeisenbank	9,99	15	3	21-65	10% PV for salary earners, discount 0.59-0.49 for certain developers
Gazprombank	9,5	20	6	21-65	10% PV for gas workers, 15% PV for large partners
Deltacredit	12	15	2	20-65	FB 20% PV, 1.5% discount if 4% commission,
Rosselkhozbank	9,45	20	6	21-65	maternity capital without PV the rate does not change, a discount of 0.25 if over 3 million, another discount of 0.25 if through partners
Absalut Bank	10,9	15	3	21-65	FB +0.5%
Bank "Revival	10,9	15	6	18-65
Bank "Saint-Petersburg	12	15	4	18-70	0.5% discount for salary earners and with a closed mortgage from a bank, -1% after commissioning of the house
Promsvyazbank	10,9	15	4	21-65	10% PV for key partners
Russian capital	11,75	15	3	21-65	0.5% discount for clients through bank partners, 0.5% discount for PV from 50%
Uralsib	10,4	10	3	18-65	0.5% higher if the bank form is 20% PV, discount 0.41% with PV 30% and higher
AK Bars	11	10	3	18-70	discount 0.3% if PV 20-30%, over 30% discount 0.6%
Transcapitalbank	13,25	20	3	21-75	you can reduce the rate by 1.5% for a 4.5% commission; after commissioning the house, the rate is reduced by 1%
Bank Center-Invest	10	10	6	18-65	from 5-10 years the rate is 12% then the Mosprime rate index (6M) as of October 1 of the previous year +3.75% per annum
FC Otkritie	10	15	3	18-65	0.25 plus if FB, 0.25% discount for corporate clients, 0.3% reduction if you pay a commission of 2.5%, 10% PV if salary employee, 20% PV on FB
Svyaz-bank	10,9	15	4	21-65
Zapsibcombank	10,99	15	6	21-65	0.5% discount for salary earners
Zhilfinance	11	20	6	21-65
Credit Bank of Moscow	12	10	6	18-65
Globex bank	11,8	20	4	18-65	0.3% discount for salary earners
Metallinvestbank	12,75	10	4	18-65
Bank Zenit	14,25	20	4	21-65
Rosevrobank	11,25	20	4	23-65
Binbank	10,75	20	6	21-65
SMP Bank	11,9	15	6	21-65	0.2% discount for PV 40% or more, 0.5% discount for preferential category of clients, rate 10.9 - 11.4% for quick access to a deal
AHML	10,75	20	6	21-65
Eurasian Bank	11,75	15	1	21-65	4% commission - 1.5% discount works according to delta
Ugra	11,5	20	6	21-65
Alfa Bank	11,75	15	6	20-64	4% commission - 1.5% discount works according to delta

You need to understand that the specific conditions of bank offers in the primary housing market may depend on a variety of factors. Firstly, you can earn yourself a “percentage discount” already at the stage of choosing a developer: from companies accredited by the bank you can purchase housing with a mortgage at a discount at an interest rate of an average of 1%.

Also, if you are a salary client of the bank, you can count on an additional benefit: the interest rate will be lower for you by 0.5-1% per annum.

If you have a mortgage assignment from an individual. persons, then the rates will be approximately 1-2 percent higher. Interest rates for the assignment of rights are not very attractive, so when choosing such an apartment, bargain with the seller for a discount and carefully check the reason for the sale.

Shared construction has its own characteristics and nuances. You can find out about them in a separate post.

Advantages and disadvantages

The primary housing market in Russia is being actively developed: this means that it contains both additional features profitable acquisition of living space, as well as significant risks.

Advantages of a mortgage for a new building:

• Low cost of an apartment or house.
• The clear absence of any existing legal obligations on the living space, for example, bank encumbrance.
• The rate from the developer is lower than for finished housing.

Disadvantages of a mortgage for a new building:

• The construction company may go bankrupt and the house will never be completed. To avoid running into such a situation, it is better to purchase housing under construction at the final stage.
• During the construction period, you will have to pay both the mortgage and rent housing, if there is none.
• It is more difficult to overcharge on a mortgage, which means that a mortgage with no down payment becomes less feasible.

Banks are actively working with the segment of new buildings, so special programs are issued for mortgage borrowers to stimulate demand. If you are interested in learning about the “mortgage holiday” program and mortgage deferment for the construction period, then please press your favorite button social network and leave a comment below.

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Mortgage– ϶ᴛᴏ pledge of real estate to secure obligations to a creditor - a bank or other credit institution. With mortgage lending, the borrower receives a loan to purchase real estate or for other purposes. His obligation to the lender will be to repay the loan; the mortgage of real estate ensures the fulfillment of this obligation. Real estate purchased with the help of a mortgage will be the property of the loan borrower from the moment of purchase. In our country, the term “mortgage” is usually used in connection with solving housing problems.

The most common option for using a mortgage in Russia is buying an apartment on credit. Traditionally, newly purchased housing is mortgaged, although an existing apartment can also be mortgaged. The purchased property is registered as the property of the borrower and remains pledged to the bank until the loan is fully repaid. Using a mortgage loan, you can buy housing on the secondary market or at the construction stage (primary market)

The costs of purchasing real estate under a mortgage, in addition to the cost of the real estate itself, also include:

1. bank commissions and fees;
2. expenses for assessing the collateral;
3. expenses for paperwork for transferring rights to real estate;
4. expenses for the preparation of technical documentation (to the BTI) and the state fee for state registration of mortgages (to the federal registration service);
5. expenses for life insurance of the borrower;
6. expenses for insurance of purchased real estate.

A mortgage is attractive primarily because it allows you to quickly move into a new apartment, become its owner, register members of your family and pay for it over the next few years, without fear of rising real estate prices. This is more convenient than saving money, exposing your savings to inflation and other risks, or renting an apartment, since the amount of monthly loan payments is comparable to the monthly rent for housing.

The number of banks issuing loans secured by real estate is constantly growing. Most typical recipients mortgage loans there will be citizens aged from 25 to 35 years with a salary from 24 to 100 thousand rubles. per month. Typically these are people working in the service sector (banking, insurance, investment, information technology, marketing) or in large manufacturing organizations. It is important to know that most of them are office workers. As a rule, borrowers are married, but do not have children. At the same time, a significant number of Russian citizens cannot afford to buy new housing.

The Program for the Socio-Economic Development of the Russian Federation for the Medium Term (2006–2008), approved by Decree of the Government of the Russian Federation of January 19, 2006 No. 38-r, emphasizes that in order to create conditions for ensuring development Russian economy To improve the quality of life of the population, it is extremely important to actively develop market institutions, incl. insurance mechanism.

An insufficiently developed insurance mechanism will be one of the primary problems of mortgage lending.
It is worth noting that the main social goal of creating a mortgage credit risk insurance system will be to create favorable conditions for expanding the mortgage loan market. Let's study the mechanism of building mortgage relationships from the very beginning.

The “actors” in the mortgage will be creditor(lender) and borrower(borrower) Their relationship is based on mutual interest: the borrower wants to receive money to purchase the chosen home, and the lender wants to receive interest for providing money. The bank acts as a creditor or credit organisation, in the role of borrower - a citizen.

To secure an obligation under a credit agreement (loan agreement), the lender and the borrower enter into real estate pledge agreement(mortgage agreement) Under the terms of the agreement, the borrower pledges property, such as a plot of land, a building, a structure, a residential building, an apartment, part of a residential building or apartment, a summer house, a garden house or a garage. The debtor continues to use the pledged property, that is, he spends money on maintaining the property, makes utility bills, and pays taxes; lives there and houses their relatives; carries out routine repairs and ensures cleanliness.

The mortgage agreement is concluded for a long term – 10–15 years is considered the norm. At the same time, over the years, the likelihood of unforeseen unfavorable events, which may lead to damage or destruction of the pledged property, becomes increasingly greater. This is where the thought of insurance arises: only Insurance Company can protect the debtor's property interests in the event of destruction or damage to real estate and provide the creditor with guarantees of the return of his money. The goal of insurance is to reduce credit risk, its redistribution.

Russian insurance companies operating on the market mortgage insurance, offer partner banks special programs for comprehensive mortgage insurance of borrowers and pledged property. It must be remembered that such programs will be an effective tool for reducing credit risk.

What do comprehensive insurance programs include?

First of all, property insurance: it covers the bank's risks associated with loss and damage to the mortgaged apartment.

Secondly, personal insurance, covering the bank's risks associated with the life, health and disability of the borrower.

And finally, title insurance: it covers the risk of the borrower losing ownership of the apartment. This is insurance against the risk that the borrower's property rights may be challenged or infringed in one way or another by third parties.

To the greatest extent important information about the specified types of insurance is given in table. 2.

Title Insurance– ϶ᴛᴏ insurance of the legal purity of documents confirming ownership of real estate. Such insurance allows borrowers or buyers of real estate to expect compensation for losses incurred in the event of termination by the court. loan agreement or a real estate purchase and sale agreement. In other words, insurance against events that occurred in the past, the consequences of which may be reflected in the future.

table 2
Mortgage insurance programs

First of all, the risk of termination of the last transaction with an apartment is insured. The reasons for this can be different: mainly mistakes made during the privatization of the apartment, during its sale or exchange. The insured under the title insurance agreement will be the borrower, and the beneficiary will be the creditor bank, i.e., the borrower bears the insurance costs, the contract with the insurer is signed by him, but the insurance upon the occurrence of an insured event will be paid in favor of the creditor bank.

Abroad, not a single purchase or sale transaction of an apartment or house is concluded without the simultaneous conclusion of a title insurance agreement. A function similar to title insurance is also provided by liability insurance for realtors and notaries.

Example

In the USA, insurance can be carried out to protect the property interests of both the owner of the property and the bank that provided the loan for its acquisition. Title insurance fully covers financial expenses related to the purchase of housing. In each US state, special government agencies have been created to control the insurance law in real estate transactions. In the state of Alaska, there is a special law on title insurance, adopted in 1974. It is worth noting that it regulates the terms of insurance, tariffs, the rights of insurers to request documents on risk assessment, and the extent of liability for the disclosure of confidential information on transactions. As a result, in the USA the insurance premium for this risk is low: from 0.3 to 1% of the possible amount insurance compensation. In Russia – from 0.8 to 2.5%.

Banks usually have established relationships with certain insurance companies, so the client will be offered a list of well-established insurers or one verified one in order to conclude an agreement. According to Expert RA, at the end of 2006, the leading insurance companies in mortgage insurance are VSK Insurance House (Military Insurance Company), Ingosstrakh Insurance Company, Renaissance Insurance Insurance Company, ROSNO Insurance Company, SOGAZ Insurance Company ", "Moscow Insurance Company".

Typically, the bank monitors the borrower’s fulfillment of the obligation to pay insurance premiums (make contributions) under the insurance agreement for the entire time until the loan is repaid.

The role of insurance in the process of granting a loan is one of the main ones. Unified insurance standards have been developed in Russia over many years of practice. The laws do not have clear rules either on the forms of insurance coverage or on the choice of the system of relationships between insurers and banks; they contain exclusively the obligation to insure mortgage risks.

Mortgage insurance refers to the field of civil, credit, collateral and insurance law. The mortgage is regulated by the provisions of the Civil Code of the Russian Federation (Chapter 23, § 3 “Pledge”; Chapter 48 “Insurance”); Law on the organization of insurance business; Federal Law of July 16, 1998 No. 102-FZ “On mortgage (real estate pledge)”.

Reputable banks have quite serious requirements for all their counterparties, incl. and to insurance companies. At the same time, it is important for the bank that the interests of its clients are protected by the insurance policy, and that its risks are reliably insured. It would be wrong to assume that mortgage loan insurance is a service imposed by the legislator. This is normal practice all over the world. Insurance companies assume a significant part of the risks in the mortgage lending scheme, and the bank's risk is limited only by the complete bankruptcy of the borrower. The figure below illustrates the fact that the risks of banks and other credit institutions in relationships in the field of mortgage lending no less, but even more than that of borrowers (Fig. 1)

Figure No. 1. Risks of mortgage activity

What can you insure against and what are the insurance conditions?

Thus, insurance will be an indispensable condition for obtaining a mortgage loan. Most banks require three types of insurance to obtain a loan:

1. insurance of the purchased apartment against the risks of damage and destruction;
2. insurance of title to the subject of the mortgage (i.e. for the apartment you are buying);
3. life and disability insurance of the borrower.

Insurance costs are borne by the borrower. Detailed characteristics of these types of insurance are given in Table. 3.

Table 3
Comparative characteristics of types of mortgage insurance

Insurance conditions. An insurance contract, like any other contract, has mandatory conditions. The essential terms of the mortgage insurance agreement will be the following.

1. Subject and object of the agreement. In this case, the subject is expressed, on the one hand, in the obligation of the insurance company to accept a certain object for insurance and, on the other hand, the obligation of the policyholder to pay an insurance premium for it. The object of the mortgage insurance agreement will be the property pledged as collateral (mortgage).

First of all, they are subject to insurance all types of collateral, including:

1. real estate, something like this:
   • land plots, buildings and structures, structures, apartments in an apartment building and other property objects, the movement of which without disproportionate damage to their purpose is impossible (except for aircraft and sea vessels subject to state registration, inland navigation vessels, space objects classified by law as immovable things);
   • equipment for production and non-production purposes, both in operation and new;
   • goods and raw materials in stock and in circulation;
   • vehicles in storage;
   • farm animals;
   • Construction in progress;
   • other types of property;
2. vehicles, in use:
   • means of ground transport - passenger transport, freight transport, trailers for them, buses, tractors, construction equipment and other means of ground transport;
   • means of air transport - airplanes, helicopters, special purpose aircraft, subject to state registration;
   • means of water transport – transport, fishing, industrial, economic and other means of water transport subject to state registration.

Secondly, in addition to insurance of collateral items, they can be insured risks By the following types insurance:

• insurance of construction and installation risks (in relation to unfinished construction of a property accepted as collateral);
• insurance of property rights (property title);
• insurance of leasing payments (for lending to leasing companies);
• owners' civil liability insurance Vehicle(for loans for the purchase of vehicles);
• other types of insurance.

Typically, insurance programs developed jointly by insurance companies and banks that provide mortgage insurance include (a) endowment life insurance of the borrower, as well as risk types of insurance (such as insurance of citizens against accidents and illnesses) and (b) property insurance, being the subject of a mortgage agreement. Sometimes the bank obliges the borrower to additionally insure: a) the risk of the borrower losing his job; b) possible legal costs and unforeseen expenses of the bank, related to the execution of the bank’s right to foreclose on the mortgaged property in the event of non-fulfillment essential conditions mortgage agreement (including the borrower’s evasion of insuring the mortgaged item against the risks of loss and damage)

Insurance is applied with certain restrictions, for example, the risk of high inflation cannot be insured. Taking these types of risks into account in advance is one of the bank’s tasks.

2. List of insurance risks. Typically, insurance risks are fixed in the insurance contract as an integral part of the collateral relationship. The list of insurance risks is determined by the need to provide the mortgagee with guarantees of maintaining income from the use of the collateral throughout the entire loan agreement.

Property pledged as collateral (mortgage) (except for vehicles in operation) is insured against destruction (loss) and damage for the following risks:

1. fire, lightning strike, explosion of gas used for household needs (compulsory insurance);
2. natural disasters (earthquake, volcanic eruption or underground fire, landslide, mountain collapse, storm, whirlwind, hurricane, flood, hail or rain - these types of risks are insured if necessary, depending on the location of the collateral);
3. explosion of steam boilers, gas storage facilities, gas pipelines, machines, apparatus and other similar devices (mandatory insurance of these risks);
4. damage to the insured property by water in the event of an accident of water supply, sewerage, heating systems, fire extinguishing systems, as well as sudden and not caused by the need to turn on the latter (mandatory insurance of these risks);
5. falling of manned flying objects or their debris onto the insured property;
6. burglary and robbery;
7. broken window glass, mirrors and shop windows;
8. illegal actions of third parties (acts of vandalism and hooliganism)

3. Duration of the contract. Typically, the contract term is set for the period of validity of the loan agreement plus one month. The term of the initial contract can be one year, and then be renewed annually (prolonged) automatically, but for a comprehensive mortgage insurance contract, this period must be no less than the loan term.

4. Cost of insurance services. Sometimes it is the size of the insurance premium that determines the final decision of the potential borrower - to take a loan or refuse. The average cost of comprehensive mortgage insurance, which includes the three listed types of risks, currently ranges from 0.9 to 1.1% of the insured amount. If you only need title insurance, the rate may be almost twice as high.

The procedure for calculating the insurance amount is traditionally determined by the bank. The annual calculation of the insurance premium occurs by multiplying the balance of the loan amount (taking into account what has already been paid) by the percentage specified in the agreement. When renewing the insurance policy for each subsequent year, the amount of the insurance premium will be less, since it is calculated based on the unpaid balance of the loan on the date of conclusion of the insurance contract, i.e., the repayment of the principal amount made by the borrower is taken into account. The insurance amount, of course, will seem very large, but over the years the possibility (risk) of an insured event will increase, and the insurance amount will decrease.

Payment of the insurance premium for the first year of insurance will traditionally be a condition of granting a mortgage loan. The annual payment of insurance premiums by borrowers in subsequent years poses a serious risk for the bank, which is why banks often provide for sanctions for non-payment or untimely or incomplete payment of the next insurance payment. Usually ϶ᴛᴏ is “punished” by the accrual of penalties and fines, because if the insurance premium is not paid, the borrower and the collateral will be uninsured, and loan repayment is in jeopardy. That is why the bank organizes cooperation with the insurance company in such a way as to monitor the annual payment of insurance premiums by borrowers and to timely exchange the necessary information.

An annex to the insurance contract will usually be insurance premium payment schedule. Collectively, insurance premiums make up the total cost of insurance services.

5. The amount of insurance compensation paid to the bank upon the occurrence of an insured event. It is determined in conjunction with the requirements of the loan agreement and for each specific date of the lending period there must be no less than the balance of the borrower's obligations under the secured obligation, sometimes increased by the interest rate.

The amount of insurance compensation traditionally must be no less than the amount of the loan issued and interest subject to accrual for the entire term of the loan agreement. Maximum size compensation is determined based on the market value of the pledged property. This takes into account the physical and moral wear and tear of property (depreciation) as of the date of insurance.

Mortgage on the primary housing market

A few insurance companies accept financial risks for insurance when investing in construction, But even such companies approach this sector of the market very carefully. It is worth noting that they cover the risks of loss as a result of the developer’s failure to fulfill their obligations. An insured event is considered to have occurred if the developer did not transfer the premises specified in the contract to the policyholder and did not return the funds received under the same contract. With this policy, the following risks are covered:

1. risks of bankruptcy or liquidation of the developer company in court;
2. risks of the constructed property being unsuitable for habitation;
3. errors made during design, construction and installation work;
4. violations committed during the preparation of documents for the construction of a real estate property;
5. developer fraud, theft, embezzlement Money, incompetence, carelessness or negligence of the developer’s employees.

The tariff depends on the completion date of construction, the location of the property under construction and on average is about 1–1.5% of the investment amount.

Insurers generally prefer to insure only the life and health of the borrower, refusing to provide insurance protection for financial risks. It is worth noting that they carefully check the accuracy of information about the developer and the development site, permitting and project documentation for construction. Cases of denial of insurance are also common. Basically, those real estate objects that do not cause concern among creditor banks are subject to insurance.

Remember: a lot depends on the specific bank, insurance program, reputation of the developer, as well as directly on the investment object.

Example

Multidisciplinary private financial institution, one of the leaders of the Russian banking system JSC "Joint Stock commercial Bank“Rosbank” does not divide their partners among insurance companies into those who insure only the primary or only the secondary housing market. Currently, Rosbank has six insurance partners within the mortgage lending program. The only difference in the requirements for a loan on the primary and secondary markets is that when purchasing an apartment on the secondary market, a comprehensive insurance premium is paid for three risks: the risk of loss of life and disability, the risk of loss of ownership of the apartment and the risk of loss and damage to the collateral. And when purchasing housing at the construction stage, only the risk of loss of life and disability is insured. After putting the house into operation and receiving ownership rights, Rosbank borrowers are insured against three risks.

There are several conditions that make the insurance system for the risk of loss of title beneficial for both the home buyer and the insurance company. Here are the conditions:

• awareness of the home buyer about the risks associated with the possible loss of ownership, and how to avoid it;
• the ability to choose an insurance company that carries out insurance protection according to these risks;
• providing the insurance company with the opportunity to conduct a legal examination of the expected transaction (checking documents, etc.);
• recognition of a court decision that has entered into legal force declaring the transaction invalid as an insured event entailing payment of insurance;
• a one-time payment by the insurance company of insurance compensation to the buyer, which allows him to purchase another home without wasting time.

The risks of mortgages in the primary housing market are presented in more detail in Table. 4.

Table 4
Mortgage risks in the primary housing market

7.4. What is needed to conclude a mortgage insurance agreement?

After receiving a positive decision from the bank to issue a loan, the procedure for your actions is as follows.

1. Choosing an insurance company. You will have to choose either from the list offered by the bank, or guided by your own mind. The criteria for choosing an insurance company are not much different from general rules outlined in previous chapters.

First of all, the selected insurer must have reliable reinsurance partners, preferably Western companies (with a rating of at least A+)

Secondly, the mechanism for concluding an agreement should not be too long and complicated. It is advisable when the signing of an insurance contract and payment of the first insurance premium are made directly during the property acquisition transaction.

Thirdly, the degree of efficiency in making a decision on acceptance for mortgage insurance is important. Often, one day is enough for companies to verify an application.

Finally, given the seriousness of the transaction, the insurer must have many years of experience in the mortgage market and have established business relationships with leading market operators.

The choice can only be made by familiarizing yourself in detail with the insurance rules of specific companies and the general information that allows you to judge their place in the insurance market. If this information suits you, also inquire about the insurance programs offered.

2. Filling out an application. It is extremely important for you to obtain an application form from your chosen insurance company, fill it out and send it to the insurer.

3. Providing the insurer with copies of documents necessary for conducting a pre-insurance examination.

Below is a standard list of documents, which is usually the same for all insurers. Of course, it needs to be clarified, and it is better to do so immediately upon receipt of the application form.

Thus, to conduct a pre-insurance examination regarding insurance in case of loss of property rights, the following documents are required.

1. Title documents for previous transactions with real estate(for sellers and previous owners):

1. contracts confirming the transfer of rights to real estate, or certificates of inheritance. Usually ϶ᴛᴏ privatization, purchase and sale agreements; contracts of exchange or donation, as well as acts of acceptance and transfer thereto, unless the contract provides for a condition that such acts are not drawn up. Acceptance and transfer acts will be an integral (mandatory) part of the contract and confirm that the right to real estate has been transferred not only on paper, but also “in kind”. Certificates of the right to inheritance confirm in this case the change of owner in connection with his death and the transfer of the right to his heirs;
2. certificates of state registration of property rights. It must be remembered that such certificates began to be issued in 1998, when in ϲᴏᴏᴛʙᴇᴛϲᴛʙii with the Decree of the Government of the Russian Federation of October 13, 1997 No. 1301 “On state accounting of the housing stock in the Russian Federation” justice institutions for registration of property rights and transactions with it. The name of the institutions has changed more than once, but the people behind the data government agencies The name “registration chamber” (or simply “registration chamber”) was established. Today, issues of registration and issuance of a certificate of state registration of ownership of real estate are dealt with by the Federal Registration Service (FRS), subordinate to the Ministry of Justice of Russia. In the republics, regions and other subjects of the Russian Federation, the Federal Reserve System acts through departments and their branches, for example in the Penza region - ϶ᴛᴏ Directorate of the Federal Registration Service of the Penza Region;
3. a complete extract from the house register. Previously, house books were mandatory for private households; for dormitories and apartment buildings, municipal authorities usually created a specialized service that was responsible for registering citizens at their place of residence. Nowadays, administrations are creating public services that have a passport office or an employee in the position of passport officer, who are responsible for maintaining such records. Information about registered persons (including those who were registered and deregistered at the current time) are entered into a file cabinet and, upon application, are issued according to the approved F-1 form;
4. consent of the seller’s spouse (if the sellers are/were married) To register a transfer of rights, a mandatory notarial form of such consent is now required. Some time ago, consent could be certified by the registration authority itself (registration chamber), but now only a notary can certify the spouse’s consent, and anyone, not necessarily at the place of residence;
5. permission from guardianship authorities(if among the sellers or registered persons there are minors, incompetent or partially capable) Since the guardianship and trusteeship authorities are bodies created by local administrations, they usually provide such consent in the form of orders;
6. financial and personal account. Information about the financial and personal account is provided by the utility service. It must be remembered that such information helps to verify, firstly, the status of the owner (including owner) of the property, and secondly, the absence of the owner’s debt in payment for utilities. In many regions, the ERCC service has long been operating - Unified Cash Settlement Centers, which work under contracts with suppliers utilities– water, electricity, heat and gas. This is where you can get information about the presence or absence of debt on real estate. Sometimes information about a financial and personal account is provided at the passport office;
7. general civil passport of the seller. The Russian passport will be the main identification document for citizens of the Russian Federation. Foreigners have a passport of a citizen of a foreign state. Except for the above, they are required to have a migration card, entry permit, residence permit and other documents;
8. act of assessing the value of the property pledged as collateral, drawn up by an independent expert organization(if such an assessment was carried out) Real estate assessment as a type of activity is subject to mandatory licensing, so usually a copy of the license of the expert organization that conducted the assessment is attached to the assessment report. As a rule, the assessment is carried out at the request of the potential buyer or if the bank insists on it or insurance organization. Except for the above, representatives of the bank or insurer for its accounting can conduct an independent assessment of the real estate pledged as collateral.

2. If necessary, the insurance company may additionally request:

1. certificates from psychoneurological and drug treatment clinics;
2. permission for redevelopment (if redevelopment was carried out);
3. a realtor’s conclusion on the legal purity of the purchased property, if such a conclusion was issued, etc.

Requests for documents are usually made to clarify information, in case of suspicion, or to eliminate inaccuracies.

3. Sometimes you may be required to undergo a medical examination, in which case you will be required to provide proof medical certificate. But you can find an insurer who will either direct you to undergo such an examination for free, or will not require it at all.

The next stage is the work of the insurance company’s experts: they conduct a pre-insurance examination and determine an individual tariff.

4. Conducting a pre-insurance examination and determining the individual insurance rate insurance company experts. Based on the documents received regarding the real estate you have and the policyholder’s (borrower’s) questionnaire, the insurance company makes a decision on whether to accept or refuse insurance and informs this information to the borrower and to the bank. Based on the positive decision of the insurance company, the bank makes the final decision on lending to the borrower.

5. Drawing up an insurance contract. The insurance contract can be signed at the office of the insurance company or at the bank when receiving a loan. The following information is provided directly for drawing up an insurance contract:

1. date and number of the loan agreement;
2. debt repayment schedule;
3. loan repayment period.

The bank can provide such information, incl. by sending a photocopy of the loan agreement to the insurer.

6. Payment of insurance premium. Payment can be made at the bank's office or at the insurer's office at the place where the contract was signed. Insurance premiums Typically paid annually during the term of the mortgage insurance policy.

7. Providing the insurer with documents confirming the registration of the transaction. After completing the mortgage transaction (its registration with the registration chamber), copies of the newly received documents are sent to the insurer for information. You will find a list of documents in the terms and conditions of the insurance contract. As a rule, the following documents are required:

1. loan agreement;
2. purchase and sale and mortgage agreement;
3. certificate of ownership of the borrower.

Sometimes, for the convenience of the client, the insurance company independently requests Required documents from the realtor accompanying your purchase and sale transaction, or from the bank.

8. Final actions. A mortgage insurance agreement must be concluded before the provision of a mortgage home loan, and the insurance premium can be paid by the borrower simultaneously with receiving a loan by bank transfer from an account opened with the creditor bank. In any case, after drawing up the insurance documents, the bank and the borrower begin to draw up credit and intra-bank documents, and then the purchase and sale and/or mortgage of the apartment.

Based on all of the above, we come to the conclusion that the provision of a mortgage home loan contains three main procedures:

1. registration of insurance documents;
2. registration of credit and banking documents;
3. registration of purchase and sale and/or mortgage of an apartment.