How to transfer a mortgage to another person? Does the creditor have to give consent? Is refusal possible in general or in a situation with a specific person?

The answers are in this article.

Buying a residential or commercial real estate regulated by the Civil Code of the Russian Federation. If borrowed money is used, do not forget about the provisions of 102-FZ On Mortgages. In paragraph 2 of Art. 391 of the Civil Code of the Russian Federation states that transfer of debt to another person is permitted provided that the creditor gives his consent.

• alienation of pledged property is possible, but the pledgee (creditor) confirms consent in writing;
• re-registration of the mortgage is carried out if the corresponding clause is included in the mortgage;
• the person purchasing the pledged item receives all the rights of the pledgor. In the future, he will have to pay off the debt and take out an insurance policy.

Important! In order for the bank to approve the re-issuance of a mortgage, it is necessary to provide convincing evidence of the need for the procedure. For example, if the borrower wants to transfer the debt and keep the property, there will be a refusal in 99% of cases.

The process of re-registration of a mortgage is unprofitable for banks. The old borrower has already been studied. Even if there are short-term delays in payment, the money still arrives. In relation to a new borrower, it is necessary to check his solvency, existing credit load and previous history of relationships with lenders. If non-compliance with the bank's requirements is detected, the transaction will not take place.

When is a mortgage renewal required?

The mortgage loan is repaid over 10-15 years or more. During this time, life circumstances and plans may change. When signing an agreement, banks offer to issue an insurance policy. But insurance does not take into account all circumstances, such as moving to another country for work or divorce.

Is it possible to transfer a mortgage to another person? What reason does the bank consider valid? Most often, re-registration is required in the following circumstances:

1. The financial situation has worsened. Job lost, salary reduced, new additional expenses, for example, for the treatment of a close relative. Standard insurance will help if the company has closed, or the work book contains a record of dismissal due to staff reduction.

But employers rarely comply with legal requirements. Mostly, employees resign of their own free will, fearing that otherwise they will not receive their paychecks at all. And this is not an insured event.

2. The purchased apartment has become small in area. For example, when 1-2 children are born in a family, there is a need to increase living space. It takes a long time to wait for an existing loan to be paid off before applying for a new one. The result is that the old apartment has to be sold with the mortgage reissued to another person.

Is it possible to re-issue a mortgage for a son or daughter in such a situation? Yes, if they meet the bank’s requirements in terms of solvency, have independent income, and are legally capable.

3. Moving to another region or country. For example, a citizen is offered a long business trip for several years, and he doubts that he will be able to service his debt obligations in a timely manner.

4. Divorce. If the apartment was purchased during marriage, the former spouses subsequently have to either continue to jointly pay the debts or re-issue the mortgage loan to one of them.

5. Loss of ability to work. No one is immune from illness or disability. The insurance policy may not cover all expenses for both treatment and repayment of debt to the bank;

6. Death of the borrower. In this case, the loan obligations pass to the heirs or co-borrowers. Both are required to contact the credit committee and provide a death certificate of the title borrower. Based on this document, the bank suspends the accrual of interest for the period until a successor is determined.

Important! The lender will not take your word for it. In order for an application to reissue a mortgage loan to be accepted for consideration, supporting documents will be required.

Why they may refuse to re-register a mortgage

Is it possible to transfer a mortgage to another person? No, if the potential client:

• does not correspond to age limits. For example, the loan will have to be repaid for another 5-10 years, and the age of the successor is approaching 60;
• does not have an officially confirmed income, or it is low;
• more than 40% wages gives to repay loans;
• does not comply with contractual obligations to banks, there are open and unclosed enforcement proceedings, credit history contains negative entries;
• places in in social networks photographs, posts of dubious content;
• often changes jobs. If the length of service at any of the enterprises does not exceed six months, the borrower will be considered unreliable;
• has a criminal record, including outstanding ones.

Many banks evaluate not only the borrower directly, but also his employer. If there are debts to pay taxes, the company is regularly sued in arbitration court, debts are collected through the FSSP, and re-issuance of a mortgage loan is denied.

Documents required for re-registration of a mortgage

Re-registration of a mortgage to another person is possible upon provision of the following documents from the new borrower:

• general passport with a registration mark. Priority - permanent registration. If registration is temporary, the validity period of the loan agreement will be short;
• a copy of the work book or contract. Each sheet is stamped or sealed by the employer, the date and signature of the responsible person;
• TIN, SNILS certificates;
• certificate 2-NDFL for employees. If you have a part-time job, you can request certificates from all employers. Does the bank cooperate with entrepreneurs, business owners, recipients passive income, self-employed, it is better to check on the spot;
• application for a loan in the form of a bank.

The existing borrower fills out an application to cancel debt obligations and transfer them to another person.

Important! The above list is not complete or exhaustive. In particular, the current owner will have to order an extract from the Unified State Register and a technical passport. The future owner may be asked to present documents for an existing apartment or house, car, international passport with border crossing marks, etc.

The procedure for re-registering a mortgage to another person

How to transfer a mortgage to another person? You need to start by carefully studying the loan agreement. Some banks directly prohibit the sale of collateral, transfer of obligations or early dissolution agreements. If the procedure is allowed, it is after paying a substantial fine.

The mortgage renewal scheme involves going through the following stages:

1. Current and future borrowers contact the bank. They require pre-approval at this stage. If the lender agrees to the deal, documents are prepared. Confirmation of solvency is required from the recipient of the mortgage, and documents for real estate are required from the debtor.
2. The credit committee and security service examine the provided certificates. If a positive decision is made, a lending agreement is signed with the successor for the amount of debt under the original obligation. The old borrower fills out an application to close the loan.
3. The former and current owners enter into a real estate purchase and sale agreement, reissue the mortgage and submit documents to the MFC to change the owner in the Unified State Register of Real Estate.

How to transfer a mortgage to another person? Prove the need for the procedure. If the original borrower made payments regularly, his desire to sell the apartment and get rid of the debt is not related to the loss of his job or disability, banks in most cases refuse to re-register.

There is always a possibility that the new owner will pay off the debt ahead of schedule and take the apartment out of collateral. For the lender, this is tantamount to loss of profit.

The other extreme is that the new borrower will be insolvent, and the problem of debt collection will have to be resolved through the courts. The procedure will take months and years. During this time, the real estate market may decline so much that even selling the apartment will not solve the problem of debt repayment.

Therefore, banks, if the situation is not hopeless, try by any means to retain the old borrower. They may offer him credit holidays, etc.

Transferring a mortgage to another person upon divorce

At the registry office, the future husband and wife vow to be together through thick and thin until death do them part. But life makes its own adjustments, and some marriages break up.

If during your life together you purchased an apartment with a mortgage, you have to solve problems associated with the sale of property or transfer of the obligation to one of the members of the former unit of society.

Is it possible to transfer a mortgage to another person in case of divorce? Yes, provided that the procedure is permitted by the loan agreement.

In most cases, the husband/wife automatically becomes a co-borrower when applying for a mortgage. Exception:

• the presence of a marriage contract delimiting the ownership of real estate. In such a situation, even after a divorce, the apartment remains in the possession of the person who is registered as the owner;
• one of the parties does not have Russian citizenship.

In all other situations, husband and wife have equal rights to real estate and responsibilities for servicing the mortgage agreement. After the divorce, they can either pay off the debt together and then divide the square meters, or contact the bank to re-register the debt in the name of one of them.

Is it possible to transfer a mortgage from a husband to a wife and vice versa? Yes! The procedure goes as follows:

1. The title borrower fills out an application to transfer the obligation to another person. The co-borrower does the same if he wants to give up his share in the real estate.
2. The bank employee gives a list of documents that each party is required to prepare for verification.
3. Former spouses, in the presence of a notary, sign an agreement on the division of an apartment or house. Mandatory points of the document are the procedure for using the loan received and the debt repayment schedule.
4. The agreement is transferred to the lender for registration and renewal of the loan agreement.
5. Information about the change of owner is entered into the Unified State Register and the mortgage.
6. The new borrower takes out insurance in accordance with the requirements of the bank.

Important! If ownership of real estate is transferred to a person who was not previously on the list of co-borrowers, the lender will check his solvency, compliance general requirements financial structure.

Finally

Is it possible to transfer a mortgage to another person? Yes, if this is provided for by the bank's policy and the debtor can prove that he cannot fully fulfill his obligations to the creditor. The new borrower must meet the lender's criteria in terms of solvency, age, and the presence/absence of current loans.

The client, in case of difficult financial condition or in the absence of funds to pay off the mortgage, has the right to re-register it to another person. The essence of the procedure is that the primary payer transfers credit obligations to the new owner, re-registering the loan in his name. Each borrower can transfer a loan to another person (with the consent of the bank).

Expert opinion

Sergey Bogdanov

Work experience at Sberbank for 12 years.

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Re-registration of a mortgage to another person at Sberbank is carried out within the framework. An apartment purchased on credit can be re-registered in the name of another person if the requirements established by law are met.

The lender also offers other programs, including refinancing an existing loan received from another bank. According to statistics, most borrowers resort to the re-registration procedure due to difficulties with repayment. Sberbank offers low rates for refinancing to ease the credit burden on the payer.

The main reasons for re-issuing a mortgage to another person

The loan can only be transferred to another person with the consent of the mortgagee, i.e. the bank that issued the loan. To approve the transaction, it is necessary to submit an application indicating the objective reasons for the re-registration.

After the lender evaluates all the circumstances, a decision will be made on the application. If a positive verdict is made, the mortgage re-registration procedure begins.

Transfer to another bank

Due to high competition, credit institutions attract existing borrowers from other banks with favorable refinancing conditions.

Important! In this case, the consent of the primary creditor is not required!

Today, Sberbank offers the lowest interest rates on lending and refinancing, so the transition procedure is unjustified.

Change in marital status

In case of divorce, the re-registration procedure is relevant when the property remains with one spouse, and the other pays the mortgage.

If the applicant provides a divorce certificate and a 2-NDFL certificate, the bank will approve the application.

How to renew a mortgage loan during a divorce

When spouses divorce, the procedure is formal, since in most cases the husband/wife act as guarantors/co-borrowers.

Stages of re-registration of credit obligations:

1. The parties are obliged to independently come to general decision in relation to purchased real estate.
2. The spouses collect the necessary documents (passports, 2-NDFL, divorce certificate, mortgage agreement).
3. Together with the loan manager, they submit an application for a mortgage transfer.

After submitting the application, the documents are sent to the assessment department to verify the data received. If a positive decision is made, the parties are required to come to the bank branch to re-register the agreement.

Withdrawal of a co-borrower in the event of his death

In the event of the death of the borrower, all loan obligations pass to the heir of the property. With the consent of all parties to the transaction, the withdrawal of the deceased from the contract is carried out immediately. In some situations, it is required judgment. Then the interested party receives a court ruling and then sends the documents to the creditor. It also happens that debtors are refused, so the removal of the deceased is carried out after an official decree.

You can transfer a mortgage to another person in the event of the borrower’s death by following simple recommendations:

1. The applicant must prove that with the withdrawal of the deceased, the bank will not suffer losses.
2. The statement must not mention financial problems. The bank may consider that the client has poor solvency.

Deterioration of the borrower's financial situation

In a difficult financial situation, in the absence of funds for repayment, the client may ask to change the borrower on the Sberbank mortgage. But it is important that the applicant meets the bank’s requirements.

Translation stages:

1. 1. An application is drawn up indicating the objective reasons and details of the new borrower.
   2. The creditor checks the identity of the future debtor within 1-5 days.
   3. If approved, the bank enters into an agreement with the new borrower and re-registers the mortgage.

When worsening financial situation borrower, the bank can offer debt restructuring, as a last resort - the sale of a mortgaged apartment.

Who can reissue a mortgage loan for: requirements for a new client

Each borrower has the opportunity to replace debtors, unless otherwise specified in the mortgage agreement. Re-registration is possible while maintaining the loan term.

Re-registration as a co-borrower

The owner of the apartment can re-issue a mortgage to. In most cases, they are the spouse of the person taking out the home loan. It is important that the future payer meets the bank’s requirements:

• age – from 21 years;
• work experience – from 6 months, total work experience – over 1 year;
• official income meets the bank's conditions and is confirmed.

Special profitable programs no lending is provided, the transition is carried out on general terms.

Re-registration from husband to wife and vice versa

It is also possible to re-issue a mortgage for a husband and wife, but provided there is no prenuptial agreement. In some cases, one of the spouses buys out the debt of the other and registers the property in their name.

For an adult child

Renewal of a mortgage loan for a child is possible only if he has reached 18 years of age, meets the age limit and has an officially confirmed income level with the required work experience.

To another relative or stranger

The law does not prohibit re-issuing a housing loan to third parties, the main thing is that they meet the requirements credit organization.

How does the process of re-registration of a mortgage take place at Sberbank?

To transfer a mortgage to another person, you must go through all the stages, from submitting an application to transferring ownership of the apartment.

Client contacting the bank

You can fill out an application to re-issue a mortgage to another person only at the bank branch where the loan was issued. When drawing up an appeal, special attention should be paid to the reasons for the transfer of debt obligations and rights to real estate.

Submission of a package of documents

After completing the application, the lender must provide the following documents to the future borrower:

1. Passport.
2. INN, SNILS, military ID, international passport.
3. A copy of the work book.
4. Certificate in the form of a bank or 2-NDFL (for 6 months).
5. Certificates of marriage/divorce and birth of children.

When contacting the bank, the current owner of the property needs to have with him a passport, an application for renewal and a mortgage contract.

Important! In some cases, the contract is concluded without the possibility of renewal; this condition cannot be appealed.

Checking a potential debtor

After providing all necessary documents, the application is submitted to the assessment department for consideration. The organization carefully studies the specified data, comparing them with the requirements of the bank.

In addition to the general criteria, the applicant requires: a good credit history without arrears, high income and Russian citizenship.

The consent of the creditor bank can be obtained only if all established requirements are met.

Bank decision making

Application processing time is 1-5 days. The bank can delay making a decision only if false information is provided, income is overstated, or the borrower is blacklisted.

Signing the necessary documents for re-registration

After approval, the date for signing the document is agreed upon with the borrower and the new payer. The previous owner of the apartment fills out an application for complete early repayment using the funds received, and the new borrower applies for a loan.

Then a purchase and sale agreement is concluded with, and ownership rights are re-registered at the Registration Chamber.

Requirements of a credit institution for a new borrower

The procedure for re-issuing a mortgage to another person can only be carried out if the new borrower meets the bank’s requirements:

1. Availability of Russian citizenship and permanent registration in the territory of the constituent entities of the Russian Federation.
2. Age – from 21 to 70 years at the time last payment payment.
3. Work experience of at least 6 months at the current place. Total labor period – more than 1 year.
4. Income is officially confirmed by a certificate in the form of a bank or 2-NDFL. The mortgage payment should be no more than 40% of total earnings.
5. Excellent credit history.
6. There are co-borrowers or guarantors. They serve as a guarantee to the bank and increase the chances of approval.
7. No criminal record.

Is it possible to transfer a mortgage from one bank to another at a lower interest rate?

The procedure for transferring and repaying debt is called refinancing or refinancing with the ability to reduce interest rate on the loan, significantly reducing overpayments. Re-registration with the inclusion of preferential programs and subsidies from the state is especially beneficial. Only mortgages from other banks can be refinanced at Sberbank.

Re-issuance of a loan through the court

Re-registration is the right of Sberbank, therefore no one can oblige the creditor to change the terms of the agreement by transferring the debt to another person.

What restrictions exist when re-issuing a mortgage loan?

Restrictions on re-registration:

1. If the mortgage is issued under preferential program“Young family”, then the new borrower must meet all its requirements.
2. It will not be possible to re-issue a loan if there is arrears on utility bills.
3. If during the procedure the debtor stops paying according to schedule, the bank reserves the right to refuse re-registration.

Common reasons for refusal to re-register a Sberbank mortgage

The main reasons for refusal to re-register:

1. Having a criminal record and administrative offenses.
2. Credit history does not meet bank requirements.
3. High financial burden associated with a large number of open loans.
4. Questionable information about the future borrower (compromising photos on social networks, bad reviews from the employer, etc.)
5. Lack of documents confirming the applicant’s income and employment.
6. Inappropriate behavior when filing an application.
7. The income indicated in the certificate is not confirmed.
8. The future payer is a defendant in the FSSP case.
9. The company for which the applicant works has a dubious reputation.
10. The relatives of the future borrower have open debts on credit loans.

How to act if re-registration is refused

The bank reserves the legal right to refuse to reissue a mortgage loan; in this case, the future borrower can contact another credit institution and apply for a consumer loan.

If the decision is positive, the funds are transferred to the account of the apartment owner to pay off the debt and remove the encumbrance.

Who are credit donors and is it worth contacting them?

Credit donors are persons who take out a loan for themselves for a fee. This service is suitable for those who do not want or cannot take out a loan for objective reasons.

Interaction scheme:

1. The client finds a loan donor via the Internet or friends.
2. Both parties sign a contract indicating the required loan amount, repayment period and the amount of remuneration for the services provided.
3. The credit donor issues a loan from the bank on agreed terms. He transmits cash to the client on receipt and receives a reward for this (usually 10-15% of the debt).
4. The client pays the debt throughout the entire period. If you fail to fulfill your obligations, the loan donor may go to court.

Many citizens were able to decide housing problems using a mortgage. During the payment process, sometimes life plans change, and the need arises to move or expand your living space. There may be many reasons for selling a mortgaged property, but doubts arise whether it is possible to transfer the property to a new owner if the process of selling the apartment is limited due to the mortgage encumbrance. Despite the difficulties, it is possible to re-issue a mortgage to another borrower, who, along with the loan obligations, receives the rights to a new living space.

Is it possible to transfer a mortgage to another person?

When a mortgage is reissued to another person, a refinancing procedure is carried out, requiring new approval from the bank, when circumstances for various reasons force the transfer of outstanding obligations and rights to property to a new borrower.

The following circumstances contribute to the successful re-issuance of debt:

1. The potential borrower's candidacy meets the bank's criteria.
2. A new object of collateral arises.
3. The composition of the parties to the credit agreement changes with the withdrawal of one participant.

The remaining rules and procedure for re-registration are clarified in the specific financial institution where the primary agreement was executed.

There are no particular difficulties when refinancing if all the requirements of the bank are met and its consent is obtained. Despite the lack of obvious benefit for the lender, most often the procedure is agreed upon and new documents are signed. If it becomes obvious that transferring the debt to a new borrower is a forced step to continue making mortgage payments, the lending party will be willing to accommodate.

In banking practice, cases of re-registration mortgage debt rare, but this does not mean it is impossible or prohibited this action. Among large financial institutions, such as VTB, Sberbank, there are examples of successful and prompt on-lending with the replacement of the borrower. Thus, if there is a need to get rid of mortgage obligations, it is quite possible to transfer the loan to another person.

Despite the fact that Sberbank itself is reluctant to agree on the process of transferring mortgage debt, the financial institution is always ready to refinance a mortgage from another bank. It is easier to re-issue a mortgage to another person at Sberbank if you use credit programs third party organizations. But at the same time, no one is stopping the client from taking a loan from another bank for another citizen and repaying his loan from Sberbank.

The restructuring is offered on terms of 15% per annum with repayment over a 10-year period.

At the VTB credit institution, mortgage re-issuance occurs on the condition that clients from other financial institutions are attracted.

You can reissue a mortgage as part of refinancing from VTB under the following conditions:

1. Debt repayment can be extended up to 50 years.
2. Debt from half a million and above is refinanced. If desired, it is possible to re-register the contract with the balance of the mortgage debt up to 75 million rubles.
3. The rate is equal to current housing lending programs with the mandatory conclusion of an insurance contract.
4. There is a commission charged when renting a cell in the amount of up to 4 thousand rubles.

The process of transferring debt obligations to a new borrower is simpler than the initial approval of a mortgage transaction and consists of the following steps:

1. Studying and agreeing on the terms of mortgage refinancing. At this stage, the current borrower evaluates the economic feasibility of transferring rights to another owner, and the buyer analyzes the benefits of purchasing a mortgaged home encumbered by the balance of debt obligations.
2. If the conditions are satisfactory to all parties to the upcoming transaction, documents are prepared for consideration by a third-party financial institution. This includes documents for the new borrower, confirming identity, compliance with bank parameters, income, as well as a copy of the current mortgage agreement.
3. If the bank is willing to reissue the mortgage, funds from the balance of the current mortgage debt are deposited into the mortgage account of the property seller. After the loan is repaid, the remaining funds remain in the account of the new borrower. The new agreement implies obligations for the entire amount issued by the new lender.

Sometimes the existing lender agrees to new terms of the mortgage loan with more favorable parameters, transferring the debt from one client to another. For this reason, one should not exclude the option when, having secured preliminary consent to refinance in a new organization, the client, having informed his creditor of this fact, receives approval to rewrite the debt within his organization.

How to renew a mortgage for another apartment

Paying off a mortgage takes years or even decades. It is quite possible that in the process of servicing the current credit debt there is a need to improve, expand housing or change place of residence. There may be a need to transfer the apartment as a gift or to re-register the owner for a fee. If you have other real estate that is not encumbered with a mortgage and other obligations, you can try the option of agreeing on a new collateral for another apartment.

The terms of the transaction with the bank include:

• a new assessment of the property proposed as an interim measure, with the condition of not less than 80% of the amount of the mortgage debt;
• submission complete package real estate documents;
• re-registration of the pledge with the signing of a new contract for the balance of the debt;
• removal of encumbrances from the current property and registration of new property as collateral.

After the bank removes restrictions on the mortgaged property, it can be sold, donated, or used in any other way within the law, without further need for approval from the lender.

The scheme for registering a new collateral is most often associated with the intention to obtain more comfortable housing to replace the previous one taken on a mortgage.

To renew your mortgage, follow these steps:

1. Applying to a credit institution with a statement about the impossibility of continuing to service the debt with justification of the reason.
2. Search for a buyer willing to purchase a mortgaged apartment.
3. Collection of documents by the new borrower-buyer and submission to the credit institution for consideration.
4. Receiving an approving verdict (due to the fact that the process of transferring mortgage debt occurs infrequently, this stage may take some time for the bank to make a decision).
5. Concluding a new agreement for the balance of the debt and concluding a sale transaction.

Due to the length of the re-registration process, it is important to take into account that while the transfer of rights to the new owner is being agreed upon, the borrower continues to pay monthly installments throughout this period.

Replacement of collateral on an existing mortgage loan. For example, a client wants to sell or donate his apartment, encumbered with a mortgage. If this borrower has another apartment that covers the existing loan according to the terms of the product, and this is on average 80-85% of the market value of the apartment, then the borrower can submit an application to the bank to change the collateral within the framework of the issued mortgage loan. The client must indicate the reason for replacing the collateral, and in most cases the bank will accommodate its borrowers halfway.

Processing multiple mortgage loans. Let's consider a real-life example: a borrower bought a 1-room apartment with a mortgage, but after a few years he financial condition things have improved, the family has grown, and there is a need to buy a 2-room apartment, as well as the opportunity to increase the loan amount.

I always advise, especially young families, not to take out a mortgage for a 3-room apartment - as clients say, “for the rest of your life.” If a person cannot afford to pay the loan, then his life turns into a nightmare, and as a result, the borrower may lose his apartment altogether and remain on the street. It’s better to achieve your goal - to acquire your own living space, to go gradually, based on a comfortable loan payment. Thus, I advise you to first take out a mortgage for a 1-room apartment, then a 2-room apartment, etc.

The sale of apartments with a bank encumbrance is commonplace today; their market share is growing every day. What should the borrower do if such an apartment is sold?

1. First of all, you need submit an application to the bank for new loan. A number of banks allow you to take out up to 4 mortgages at the same time with the appropriate income, the exception is AHML, where only one mortgage is possible for a given borrower. If the client’s income does not allow him to take out a second mortgage, then it is necessary to submit an application with a suspensive condition, i.e. the loan will be available upon repayment of the first mortgage.

2. Only after a positive decision on a new loan you can start searching for a buyer for your 1-room apartment.

It is this sequence that is important. If the borrower was in arrears on an existing mortgage loan or had different consumer loans, he may be denied a new mortgage loan altogether.

Next comes the search for a buyer for his apartment: this can be a buyer with cash or a mortgage. The schemes for such transactions on the market have been worked out and polished over years of practice, and we have been working with them on the market for more than 6 years. If the buyer pays in cash, everything is simple and clear: the loan on our borrower’s apartment is fully repaid. Next, our client, having selected a new home, goes to the bank, where his loan application has already been reviewed, and takes out a new mortgage.

The situation is somewhat more complicated when the buyer has a mortgage. There may be two options: a mortgage in another bank is considered, and a mortgage is considered in the bank where this apartment pledged. In the first case, the sale can only be carried out through full early repayment, i.e. from the buyer an initial fee must be no less than our borrower's available credit. In the second case, this is not necessary - our borrower’s loan is repaid by the buyer’s loan taken from the same bank.

I would like to note that if the client left with a suspensive condition, then he can take out a new loan after repaying the existing one. Loan issuance/loan repayment is carried out after registration of ownership after seven days. Thus, the client can take out a new mortgage loan only in a week. If the loan approval was without a condition precedent or the loan of the buyer of our borrower’s apartment was transferred to repay his loan according to Rosreest’s receipt, then the registration of a new mortgage loan and the purchase of a new apartment can be made simultaneously.

Refinancing is a transition from a high interest rate in one bank to more favorable rate at another bank. Let's consider a situation where a mortgage loan is taken out against high percent in a certain bank, and after some time other banks on the market offered more interesting interest rates. Is it possible to re-issue a mortgage for a more low rate at another bank? A very relevant situation today.

We see that in today's conditions crisis, interest rates mortgage loans soar, and real estate, especially in the secondary housing market, falls in price. I always recommend not to be afraid to take out a mortgage high bid, because Many banks have a product called refinancing, or, as it is also called, refinancing. Today there is no moratorium on any banking product - you can re-issue a mortgage at any time in another bank. Banks do not refinance their own portfolio, so this is only possible by moving to another bank.

I want to give advice that bankers, of course, will keep silent about. It is profitable to refinance in the first half of the loan term, when you pay almost only interest on the loan. In the second half of the payment period, it is not profitable to refinance, even at a very low interest rate. Because You have already paid off most of the interest and are actively moving towards paying off the loan balance. When you switch to another bank, you again begin payments with interest payments. If you get too carried away with this process, constantly looking for a lower mortgage interest rate, you can only pay interest to banks without ever getting to repay the loan itself.

It is best to contact specialists, which will tell you whether it is profitable for you to refinance today or not. I can add that in a crisis this product does not work.

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