Mortgage for secondary housing
To obtain a mortgage for a secondary home, the borrower must collect the necessary documents and send them to the bank.
Which apartments are not suitable?
If the borrower is unable to repay the loan, the bank must be sure that the purchased property can be sold.
Let's highlight the main factors that credit managers pay attention to:
- Age of the house. If the building is older than 1975, banks will most likely refuse to finance such an apartment. Problems may soon arise with such housing: dilapidation, the need for major repairs.
- Condition of the house and apartment. If a building is officially declared unsafe, then it will not be possible to obtain a mortgage for an apartment in it.
- Participation in the renovation program. This mainly concerns housing on the Moscow market. When the government announced the renovation program, some citizens tried to buy housing in Khrushchev-era buildings in order to get apartments in new buildings. Banks refuse to finance such housing.
How to register a new building as a property purchased with a mortgage
Depending on the region, the future owner, developer, lender and Rosreestr itself, other documents may be requested. Rosreestr employees do not require you to independently fill out an application for registration of property rights, since they themselves fill it out on the computer in order to eliminate errors and typos. The future owner checks that this document is filled out correctly and then signs.
In this case, apartment owners who are interested in registering their property rights as quickly as possible are forced to first order technical plans for residential premises from the BTI, and then, together with applications, transfer deeds and share participation agreements, contact Rosreestr to register apartments on registration and issuance of cadastral passports. If the housing was purchased on credit, then it is necessary to prepare a mortgage document or a loan agreement, and if it was purchased for a minor, then obtain permission from the guardianship and trusteeship authority. Documents for registering ownership of an apartment under DDU According to paragraph.
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How to get a mortgage
The whole process can be divided into 3 stages:
- choice of bank;
- submitting documents for obtaining a mortgage;
- conclusion of a contract and purchase of real estate.
The main list of documents for obtaining a mortgage on the secondary housing market is as follows.
- passport;
- a copy of the work record book or employment contract, certified by the employer;
- Marriage certificate;
- TIN;
- SNILS;
- certificate 2-NDFL;
- military ID - for men under 27 years of age.
Banks may require additional documents.
How to register ownership of a new building under a mortgage agreement
The insurance company can be chosen by the borrower himself, but the bank will definitely recommend one of its partners. Payment for new construction insurance is usually paid in the form of the 13th payment annually. For the first time, you must pay immediately upon concluding the loan agreement.
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Spare no expense, contact an experienced lawyer to conduct an examination of the draft agreement. This could save you hundreds of thousands of dollars in the future. Security of the DDU agreement The state guarantees the security of the DDU agreement as the only possible document concluded between the developer company and the future owner of the apartment.
Military mortgage
Any serviceman of the Russian Federation can buy real estate in a finished house or one under construction using a special mortgage program.
Zenit Bank offers the most favorable conditions for military personnel with state support - 4.9% per annum. You can also get a military mortgage for the purchase of a new or finished house at Dom.RF Bank with an interest rate of 7.5%. Now the state program applies to military mortgages in the following banks: Bank Russia, Zenit, Severgazbank and Promsvyazbank.
Submitting a joint application to Rosreestr of the shareholder and the bank representative
To apply to Rosreestr, the equity holder, together with a representative of the bank (you must first sign up through the bank’s call center), appear at the time appointed by the bank at the MFC branch where the facility under construction is located.
In the case of the Laikovo residential complex, the address of the MFC in Odintsovo is:
- Mozhaiskoye Highway, 71 (link to Yandex.Maps)
The shareholder must provide the following documents when submitting the application:
- DDU agreement with a mark - the number of the mortgage encumbrance record (indicated on the stamp on the back of the last page of the DDU)
- a certificate from the bank confirming full repayment of the mortgage
- passport
- loan agreement with the bank (new VTB requirement)
An MFC employee will draw up an application to Rosreestr, which must be signed by both parties - the shareholder and the bank representative (acting under a power of attorney from the bank):
Application to Rosreestr page 1
Application to Rosreestr page 2
Having accepted the signed application, the MFC employee will issue the shareholder with a list of documents, indicating the date of readiness of Rosreestr’s response (usually 7 calendar days):
Be sure (!) to pay attention to the MFC employee so that he indicates the mortgage record number in the application to Rosreestr! This number is stamped on the back of the last page of the DDU.
Example of an encumbrance record number: 50:20:0040306:288-50/001/2017-33 dated September 10, 2020
Back of the last page of the DDU
After the deadline for the readiness of Rosreestr’s response specified in the list of documents has arrived, the shareholder must come to the MFC for a response.
If the decision is positive, you will receive a written response from Rosreestr - “Notification of extinguishment of the restriction (encumbrance) of the right” :
The document will indicate the cadastral number of the land plot and the mortgage record number, as well as the signature of the registrar (Rosreestr employee) and the seal of Rosreestr.
This notice must be kept along with the DDU.
Mortgage in new buildings
Purchasing an apartment with a mortgage in new buildings is actually more profitable than on the secondary housing market. Firstly, you are buying an apartment in a new building, and secondly, at the foundation pit stage, real estate costs 25-30% cheaper than a commissioned property.
Of course, buying an apartment in a building under construction involves certain risks. For example, where are the guarantees that the developer will not postpone the delivery date and will deliver the property on time? And you, perhaps, rent a house, and every month of delay in delivery hits the family budget. In this case, you need to play it safe and buy an apartment only from a developer with an impeccable reputation.
But the risk of ruin of the developer and loss of invested funds became minimal after the launch of the program using escrow accounts. This is a form of freezing money in a special bank account. The developer will not receive the buyer's money until the house is completed.
Now on the new buildings market there are a large number of programs with favorable mortgage conditions.
- 4.7% – Sberbank, mortgage with state support for families with children. The term is up to 30 years, the amount of the down payment is 20%.
- 4.1% – DomKlik from Sberbank, new building with subsidy. The discount from the developer is valid for the first 2 years of the loan. For the remaining term of the loan the rate is 7.6%
- 6.1% – State support 2020 from Sberbank for all categories of the population. Valid until November 1, 2020 (program extension possible).
- At Rosbank you can submit documents to purchase an apartment in a building under construction at a rate of 4.35% per annum with a down payment of 20%. The loan term is up to 20 years, and the borrower’s age is 20-65 years.
- Raiffeisenbank offers families with children a mortgage with state support at 4.99% for up to 30 years. The down payment amount is 15%.
Mortgage for a new building banks
Advice from lawyers:
1. They don’t give me a mortgage. In the bank. But they approved a car loan. Is it possible to buy a car, register the car in the name of a common-law spouse. He gives me the money, and I will spend it on buying an apartment. Will I continue to pay the car loan myself? It’s beneficial for me to take out a car loan because I can buy it cheaper thanks to the “First family car with a 10% discount” program. I will buy an apartment in a new building under the program for large families, using subsidies.
1.1. If you purchase a car using a car loan, then it remains pledged to the bank and must be registered in your name; re-registration in the name of another person is only permissible with the consent of the bank.
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1.2. Good afternoon Ekaterina. Some banks are considering such a scheme for concluding an agreement. But it is extremely rare (between close relatives), and it is better to check with the bank itself whether they enter into such agreements. In general, the collateral property belongs to the bank until the borrower fully fulfills its payment obligations. Therefore, to whom the contract is concluded, the vehicle is registered in his name and the owner who entered into the mortgage agreement is indicated.
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2. The bank refuses additional an agreement to reduce the rate under the preferential mortgage program (we had a second child) on the existing mortgage agreement. Reasoning that we bought an apartment in a new building under the housing cooperative scheme.
2.1. Yuri, write a complaint to the prosecutor’s office and the Central Bank of the Russian Federation.
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3. We took out a mortgage for a new building, and in the first year we paid all types of insurance, including title insurance. But no one lived there except me, as the housing was from the developer. There is one entry in the registration chamber for this apartment. Is it possible for me not to pay title insurance for the next year, although the agreement with the bank stipulates paying for 3 years?
3.1. No, in this case, insurance of the main building structures (title) must by law be valid for the entire period of the loan obligation, otherwise this is the basis for termination of the contract and demands for the return of the entire loan amount with interest.
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4. We want to take out a mortgage for a new building. The borrower will be the son-in-law, and the co-borrower will be the mother-in-law. Will the bank issue a loan?
4.1. This issue is resolved solely at the discretion of the bank.
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4.2. Good morning! Everything will depend on the financial situation of the mother-in-law and son-in-law. If they are employed and receive a stable salary to pay off the monthly mortgage payments, then the bank will issue a loan.
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4.3. Here, the financial situation of creditors such as the bank itself, after a preliminary check, is exclusively decided.
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4.4. Hello. Will give it away.
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5. I want to buy an apartment with a mortgage in a new building from a developer, but it turns out that the apartment is pledged to the bank because the house was built with borrowed funds. What nuances might there be?
5.1. Good afternoon The caveat is that until the developer pays the bank in full, you will not be able to register your apartment, and therefore you will not have ownership rights to it. Here you either ask the bank to remove the encumbrance on this apartment or refuse the transaction.
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6. Please tell me whether the bank can buy an apartment (mortgage) under a preliminary agreement, since the new building and the house have not yet been registered with the cadastral register. Thank you.
6.1. Yes. such a deal is possible.
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7. In my apartment there are four owners, me, my husband and two minor children, who wanted to buy a new home in a new building, but the guardianship authorities say that the children’s share will be on the accounts, since the new home will be mortgaged, and you can allocate the shares after the encumbrance is removed bank.
7.1. Right. Parents (co-owners of the apartment) will be able to give their children shares in the property rights only after the loan has been fully repaid and the encumbrance on the apartment has been removed. Look for a non-mortgage loan to immediately purchase an apartment in common shared ownership of four family members. .
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7.2. If the guardianship authorities issue permission under such conditions, then nothing can be done. In general, there is nothing illegal in allowing them.
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8. We bought an apartment with a mortgage in a new building. The house was supposed to be put into operation in 2020. Overdue 4 years month. The husband went to accept the apartment on December 17, 2019. But, as it turned out, the land under the house was seized due to the developer’s debts to the bank. Residents who have accepted apartments cannot register ownership of the apartment in the Rosreestr. We didn't accept the apartment. Now we don’t know what to do next? P.
8.1. Is it possible to terminate the contract with a refund + penalty, or to collect only the penalty, whichever you want?
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8.2. Good afternoon If the management agreement is terminated, you most likely will not receive the money, since the developer was unable to pay the bank; the same applies to penalties.
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8.3. If everything is in order with the apartment (not under arrest), then it should be accepted. If the house has passed the state cadastral registration, then there are grounds for filing a claim in court to recognize the ownership of the apartment if the state registration is denied. registration of rights. The question also implies the right to collect a penalty.
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9. While married, we took out a mortgage in a new building. While the house was being built, they got divorced. Now the house has been handed over, the acceptance certificate for the apartment has been signed. We tried to submit documents to the MFC to register property, but we were refused, due to the fact that we are no longer spouses and we need a notarial agreement for shared property (in marriage it is considered joint). For this agreement, the notary asks for the bank’s consent, but the bank cannot give consent to shared ownership, since there is no property yet. How to proceed?
9.1. Anton, did the MFC refuse you or did Rosreestr refuse to accept your documents?
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10. We want to take out a mortgage for an apartment in a new building. The bank approved the loan, I have maternity capital. We want to make 10% of the mortgage payment with our own money, the rest is a loan. They wanted to reduce the loan amount by the amount of MK, BUT the bank said that this is not their business, but the developer’s business, and they will not accept MK, and the developer said that they especially don’t practice this and all questions should be directed to the bank (What to do? Why the bank refuses to apply MK?
10.1. Because not everyone works with MK. This is budget money.
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10.2. Banks definitely don’t accept MK. Look for a developer who works with MK.
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11. My husband and I are selling an apartment in a new building, the house was commissioned in 2014, we bought it in 2020 and since the date of purchase we have never paid for major repairs, now we are selling the apartment and have already made a deal, even it has already been registered, there was a Mortgage and all that remains is to close letter of credit from the bank, the buyer insists on paying for major repairs, but we don’t want to pay it, tell me how it will affect us and the buyer if we still don’t pay it, and in general, is there any way to bypass paying for major repairs? Thank you in advance.
11.1. Hello, dear Evgenia Sergeevna! Firstly
, if obligations to pay for utilities arise only from the moment ownership arises, and the previous owner is obliged to pay the debt, then with debt for major repairs, unfortunately, everything is different.
Thus, according to Part 3 of Article 158 of the Housing Code of the Russian Federation, the obligation to pay the costs of major repairs of an apartment building applies to all owners of premises in this building from the moment ownership of the premises in this building arises. When the ownership of premises in an apartment building is transferred to the new owner, the obligation of the previous owner to pay the costs of major repairs of the apartment building, including the obligation not fulfilled by the previous owner to pay contributions for major repairs, passes to the new owner
.
Secondly
, if you do not pay the debt for major repairs (if it does not exceed the past 3 years), then the buyer of your apartment at least has the right to demand a reduction in the cost of the apartment by the amount of this debt. All the best.
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12. The Vira Stroy company offers a mortgage for a new building at 6.4% per annum (VTB partner bank), but there is a condition that early repayment is prohibited. Is this legal?
12.1. Illegal. You have the right to pay off early.
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13. A couple of years ago, my friend and I bought an apartment in a new building in Moscow Region, I made the initial payment, paid for registration, after delivery, I made repairs and bought furniture at my own expense, i.e. I have already paid for my half of the apartment. The apartment is mortgaged to a friend, he pays the bank monthly. The house is handed over, the property is received. I would like to know if it is possible to register 1/2 of the apartment for my son (17 years old) and what is needed for this. Thank you in advance.
13.1. The apartment is currently encumbered by law. After paying off the mortgage, you can issue a gift deed for the child. Provided that you are the owner.
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14. To obtain a certificate of ownership of the apartment, the MFC required a mortgage from the bank. The apartment was bought with a mortgage at the excavation stage in a new building. The house gave up. The bank told us that in order to obtain a mortgage, we need to make an appraisal of the apartment. The question is, why is an appraisal needed if the apartment is new and its price has already been determined 1) indicated in the purchase agreement and 2) the cadastral price is indicated on the Rosreestr website?
14.1. Hello, Vladislav! Apparently the bank needs a market valuation of the apartment. What was at the excavation stage does not correspond to the market price today.
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15. To purchase an apartment in a new building, a consumer loan was issued from the bank. Is it possible to get a tax deduction on interest on a consumer loan? Or is this only possible with a mortgage?
15.1. This is only possible with a mortgage loan.
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16. I had a mortgage with the bank, I repaid it in full, took a certificate of full repayment of the loan, VTB 24 bank said that they had unilaterally removed the encumbrance in the Rosregistry for the living space without my participation. The new building has not yet been completed, but is nearing completion. I have an agreement on the assignment of the right of claim and an agreement on participation in shared construction. Do I need to take a notice of the removal of the encumbrance from the Rosregistry and what should I do next?
16.1. Good afternoon. It is necessary to remove the encumbrance from the apartment (collateral), but this is an application form, the application must come from both parties. Contact your nearest MFC.
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16.2. Order an extract from the Unified State Register from Rosreestr. It will indicate whether the encumbrance has been lifted or not.
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17. If the apartment is a new building, not owned, but the house has already been rented for more than three years. Housing and communal services filed a lawsuit for debt for the company. services. The period is almost 4 years. Formally owned by the bank, because Bought with a mortgage. It is possible to cancel a court order, but can housing and communal services, if no one is registered or lives in this apartment, charge a fee? services? Heating only? We haven't received the keys to the apartment yet, we haven't even received the apartment yet. Thank you for your reply.
17.1. Hello. Payment for utilities is charged from the moment of signing the acceptance certificate for the transfer of the apartment.
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17.2. As long as there is no Acceptance Certificate, the developer pays. You have a mortgage only on the remote control itself. If you shy away from accepting an apartment, then that’s a different matter. In order not to charge housing and communal services, it is necessary to put into operation metering devices. And take zero readings every month.
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18. We want to take out a mortgage for a new building, a down payment for maternity capital. Can we transfer it directly to the legal entity developer, the rest of the amount will be paid from the bank’s credit funds. All this is spelled out in the DU.
18.1. The law does not allow you to directly transfer materiel capital funds to the Developer RUSSIAN FEDERAL LAW ON ADDITIONAL MEASURES OF STATE SUPPORT FOR FAMILIES WITH CHILDREN 1. The disposal of funds (part of the funds) of maternity (family) capital is carried out by the persons specified in parts 1 and 3 of Article 3 of this Federal Law who have received the certificate, by submitting to the territorial body of the Pension Fund of the Russian Federation directly or through a multifunctional center an application for the disposal of funds of maternal (family) capital (hereinafter referred to as the application for disposal), which indicates the direction of use of maternal (family) capital in accordance with this Federal by law. 3. Persons who have received a certificate can manage the funds of maternal (family) capital in full or in parts in the following areas: 1) improving housing conditions;
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19. We want to buy an apartment, but we don’t have enough funds of our own, the banks refuse a mortgage, the apartment in a new building is finally put into operation at the end of December, the developer offers an interest-free installment plan for 12 months, we sent the contract for review, but it seems to us that there is a lot in the contract pitfalls, but could you advise on this matter and, if possible, review the contract. Thank you in advance. But we just couldn’t find how to attach the contract.
19.1. The contract needs to be checked because the developer is too generous.
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20. When buying an apartment in a new building according to the scheme: cash, maternity capital, bank mortgage. Is it possible to use maternity capital to pay off the debt to the developer himself, rather than repay his mortgage?
20.1. Hello, if you have a problem with a credit institution (you can’t pay the debt, you want to return your insurance, the bank illegally wrote off funds, a court order has been issued, collectors are pestering you, and much more), then you will find the answers to your questions in my topics on this forum : You will find useful information in the forum topics: More >>> More >>> Also, keep in mind that today there are many ways in which you can legally get rid of credit obligations or at least make it impossible to collect credit debt agreement. These include termination of a loan agreement, recognition of the transaction as invalid, challenging the terms of the agreement as contrary to the law (Article 168 of the Civil Code of the Russian Federation), recognition of the transaction as enslaving (clause 3 of Article 179 of the Civil Code of the Russian Federation), bankruptcy of individuals and termination of enforcement proceedings on grounds Art. 46 Federal Law “On Enforcement Proceedings”. To understand your situation directly, you need to see documents that can be sent electronically. Sincerely, financial lawyer – Stepanov Vadim Igorevich.
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Help resolve a mortgage issue. I `m a pensioner. I am buying an apartment in a new building.
I am selling my apartment in a new building through a mortgage, the bank requires information from the buyer that no one is registered in the apartment and about communications debts,
New building, purchase with a mortgage. The address has already been received, but is not registered in the cadastral register.
Three years ago I took out a mortgage from VTB Bank for an apartment in a new building. I paid regularly and then the bank called and said it was overdue.
The house in the new building was put into operation 8 months ago, but it still hasn’t been registered in the cadastral register; they are only fed with promises.
I want to contribute 40 percent of the money to buy an apartment in a new building; my son will take the other part of the money for the mortgage.
In February 2014, I purchased a studio with a mortgage. I took the down payment from the bank.
I am a member of the NIS military mortgage program. I am 33 years old. I bought an apartment under this program in 2013.
Last year I purchased an apartment in a new building through assignment. Upon registration
We are currently divorced. But they began to live together again. We have a child, 2 years old.
My wife and I purchased housing in a new building under an equity participation agreement, and partially took out the money for a mortgage from the bank.
conclusions
The lowest interest rates apply to the purchase of apartments in new buildings. For families with children, this is the opportunity to use maternity capital plus state support with a preferential interest rate, for the military - a military mortgage on favorable terms with a minimum overpayment, and for the rest of the category of citizens - a preferential mortgage of 6.5% per annum.
Real estate on the secondary market, of course, can also be taken out with a mortgage, but the interest rate will be 2-4% higher. The only obvious advantage of such a purchase is the opportunity to move into the apartment almost immediately after the transaction (10-15 days).
How to register ownership of an apartment purchased under a mortgage agreement
it is calculated taking into account a reduction factor of 0.7. During a personal meeting, two applications are filled out: one by the investor, in which his data is recorded, the address and characteristics of the object and all submitted documents are indicated, the second by a representative of the construction company. Applicants receive a receipt indicating the date when they need to appear for documents.
333.33 of the Tax Code of the Russian Federation provides for the payment of a state duty in the amount of 2000 rubles. Therefore, before submitting an application, each of the owners must pay the specified mandatory fee, in proportion to their share in the ownership of a four-room apartment, that is, 400 rubles.
Registration of ownership of an apartment in a new building without a mortgage
Moreover, with shared participation, you must pay for the housing in full before its construction is completed, if you do not plan to buy housing with a mortgage. The procedure for registering ownership of an apartment in new buildings is quite labor-intensive and time-consuming. Most apartments in modern new buildings are sold at the construction stage or even before work on the construction of a residential building begins.
Actually this is not surprising. After all, construction companies charge a fee for their services that is several times higher than the cost of registration itself. Developers have different appetites, so their prices range from 10 to 50 thousand rubles. Often, construction companies require payment for these services even at the stage of concluding a contractual agreement, which in itself is illegal, since at this moment it is not even known whether the construction will reach its logical conclusion, and whether a housewarming party will take place at all. What to do if registration is delayed due to the fault of the construction company Often, shareholders are faced with various violations on the part of developers who delay construction and do not carry out the necessary measures to hand over the property in a timely manner, due to which citizens are deprived of the opportunity to register their housing in the usual manner. In such cases, you need to contact a judicial authority.
