About a mortgage for an apartment: what it is, how and for whom to apply for it, everything about the loan

Features of purchasing apartments in buildings under construction

If housing is purchased on the secondary market, then registration of ownership usually takes place without any problems. The client is given a certain period of time for this and, most importantly, not to miss it.

With houses under construction that have not yet been put into operation, everything is somewhat more complicated. Typically, a mortgage on such a property is taken out long before the property is ready for occupancy. Thus, the client cannot register ownership.

The bank understands this point very well and sets certain rules even at the stage of discussing the loan. The easiest option is to find out when the house is planned to be put into operation. From this moment on, the client is again given several days/weeks/months (usually 1 month), during which he is obliged to register ownership according to the usual rules.

Both situations differ only in that when buying an apartment on the secondary market, you need to start registering the property right away, but in the case of buying an apartment in a building under construction, you only need to track the stages of its readiness. And only when everything is ready, start preparing the necessary documents.

How to get a mortgage for your primary home?

If you want to get a loan to buy a new apartment in a building under construction, then be prepared for the fact that you will have to face a number of difficulties. But if you know some of the nuances of mortgage lending, you can significantly simplify the procedure for obtaining borrowed funds from a bank to purchase an apartment.

Select a bank . Lending for primary housing has a number of significant differences. If you have already decided on the property you want to buy on credit, then you will first of all have to contact a construction organization or an intermediary who sells apartments in a new building. This is due to the fact that it is possible to obtain a mortgage for the purchase of a primary home only in those banks with which the seller of this property has entered into a cooperation agreement, otherwise the purchase and sale of real estate may not take place. On the other hand, banks also do not want to take risks and issue loans to those borrowers who plan to buy housing from “unverified” sellers (construction companies, 0), otherwise there is a risk that the property will not be put into operation, the loan holder will be left without housing, and bank - no collateral. Therefore, when you have already chosen an apartment, you should contact the company that is engaged in the construction of this property and get a list of banks from which you can apply for a mortgage.

Selecting a loan program and loan terms . In most cases, borrowers are deprived of the right to choose, because, as a rule, a construction organization cooperates with no more than one bank. But you should not think that lending conditions in this case will be absolutely unfavorable for borrowers. In fact, the client always has the opportunity to save money when applying for and repaying a loan, since the terms of the loan and the cost of housing can directly depend on the stage of construction work. Therefore, all that is required from the borrower is to bring a complete package of documents to the bank, fill out forms and an application, and also pay a fee for processing the loan application.

Bank decision . Having received all the necessary documents from the client, the loan officer analyzes the borrower’s financial condition, checks his credit history and submits an application to the Credit Committee, where a decision is made on issuing a mortgage.

We get a loan and buy an apartment . A loan can only be issued if the Credit Committee makes a positive decision. On the day of the transaction, you will have to make a down payment (if provided for by the terms of the loan, 0), pay the bank’s commission for issuing a loan, sign loan agreements and a collateral agreement. The collateral for the loan will initially be the right of claim on the property, but after the multi-storey building is put into operation, you will have to re-issue the collateral agreement so that the purchased apartment will act as collateral for the loan.

Re-registration of ownership

The main document that confirms ownership is an extract from the Unified State Register of Real Estate. Formally, a person is not obliged to order and receive it. You just need to make changes to the registry. But since the bank needs this paper, and it will be more comfortable for a person to have confirmation that the housing is really his, when submitting an application to Rosreestr, you must definitely request such an extract.

Procedure

Find suitable accommodation.
Negotiate with the seller about the potential purchase of an apartment.
Choose a bank.
Contact a financial institution to obtain a mortgage loan.
Get the bank's decision.
Conclude pledge and mortgage agreements.
Make a down payment (if required).
Contact Rosreestr with the purchase and sale agreement, mortgage and pledge.
Write an application to Rosreestr for re-registration of property rights.
Receive an extract from the Unified State Register of Real Estate with information about the new owner.
Provide this statement to the bank.

Documentation

Direct registration of ownership of the apartment is carried out in paragraphs 8-10 of the instructions presented above. The rest is the preparatory stage and a logical consequence of obtaining a loan. In order to register property rights in Rosreestr, you need to prepare the following documents:

Passport of the loan recipient.
Purchase and sale agreement (and preliminary purchase and sale agreement, if one was concluded).
Pledge agreement.
Mortgage agreement.
Documents for the apartment (registration certificate, etc.).
Receipt for payment of state duty.
Application for re-registration of property rights.
Certificate of persons registered in the apartment.
Certificate of absence of debt for utilities.
Permission to register when purchasing an apartment from the guardianship authorities (relevant for situations where the seller or buyer has minor children).
Consent of the spouse to complete the transaction (for the seller).
Power of attorney and passport of the authorized person (if required).

Expenses

If we consider the moment of registration of property rights, then the only obligatory type of cost will be the state duty: 2000 rubles per person.

Deadlines

The period for registration of ownership can vary from 3 to 14 days, depending on the workload of the Rosreestr branch. In practice, most often the extract is ready in about 5-7 days. In this case, you need to take into account the deadline for submitting all necessary documents to the bank. It is better to start registering immediately after signing the contracts.

On the possibility of registering an apartment for one person and a mortgage for another

As a rule, sellers have already collected all the necessary documents. If you purchase an apartment from an individual, just in case, you need to check his housing certificates. It may turn out that someone else has the right to the apartment, or encumbrances have been imposed on it, etc.

It is advisable to personally contact the federal registration service and obtain a certificate of absence of encumbrances and restrictions.

Review of documents by the bank. Lawyers will check the documents within a few days and draw up their own package of documents for obtaining a mortgage.

Appraisal of the apartment. The bank hires an appraisal company (or they have their own appraisers) to evaluate the apartment, which, after visiting the site and taking photographs, calculates the average market value of the housing.

Registration of a mortgage. On the day appointed by the bank, the seller and buyer meet and sign the purchase and sale agreement and the loan agreement. Next, you register these documents with the Federal Service for State Registration, Cadastre and Cartography (Rosreestr). In a few days they will issue you a certificate for the purchased housing with a note about the deposit. Then you take out insurance for the apartment, your life and health, after which you present the certificate with insurance to the bank and receive the money personally or it is transferred directly to the seller.

Removal of encumbrance

The problem does not end at the stage of registering property rights. The bank places an encumbrance on the property, which prevents the owner from selling it or performing any other transactions. In fact, he only has the right to live in the apartment until he pays off the loan in full. Some banks even need to agree on the fact of repairs and redevelopment. It will be possible to remove the encumbrance only when the client pays off the debt in full.

Procedure

Pay off the debt.
Receive a certificate from the bank confirming the full return of the loaned funds.
Contact the registering organization with documents (see below).
Pick up a document confirming the fact that the encumbrance has been lifted.

After this, you can request another extract from the Unified State Register of Real Estate, which will no longer contain a note about the encumbrance.

Required documents

To remove the encumbrance you need the following papers:

Passport of the owner/owners of the apartment.
A certificate from the bank stating that the debt has been repaid.
Loan and collateral agreements.
Documents for the apartment.
Application for removal of encumbrance. Like the application for registration of ownership, it is drawn up on the spot.

Costs and deadlines

This procedure is absolutely free. After submitting the application, a certificate is issued stating that there is no longer an encumbrance. Sometimes this happens almost immediately, but most often this document is issued within three working days.

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By purchasing real estate with a mortgage, the borrower immediately becomes its owner. But until the loan is fully repaid, the object remains encumbered.

How to get a mortgage without a down payment

What documents are needed

passport;
TIN;
certificates: from drug treatment and psychoneurological dispensaries, from the BTI, from the tax office;
insurance certificate of state pension insurance;
a copy of the work book certified by the employer;
certificate of marriage/divorce;
extract from the Unified State Register of Rights to Real Estate;
a report on the assessment of the premises carried out by an independent expert;
title documents for real estate;
documents certifying ownership of additional real estate, which is used as collateral.

Also, most likely, the bank will require the borrower to insure life, health and the purchased property.

Pledge

If you have property commensurate with the size of the mortgage loan that you can use as collateral, the bank can give a mortgage on more favorable terms than without it.

The downside is that while the mortgage payments are in effect, you cannot make any transactions with your old apartment (for example, if you wanted to rent it out and add the proceeds to your loan payments).

Another nuance: the cost of the loan should be 80–90% of the value of your property collateral. For example, if you want to take out a mortgage in the amount of 3,000,000 rubles, your property should cost 3,300,000–3,600,000 rubles. If the price of real estate does not allow you to cover the loan amount, you can add the cost of movable property - a car.

Consumer loan as a down payment

You take out 80–90% of the cost of an apartment or house in the form of a mortgage, and the remaining interest is taken out as a consumer loan, with which you pay the down payment. In this case, the bank will issue the money under normal conditions (you made the contribution).

You must understand that in this case you will have to pay off two loans at the same time. Banks are unlikely to give you this option, since they rarely allow their customers to take out loans and pay off a large portion of their funds every month.

Maternity capital as a down payment

Maternity capital can be used to both pay off mortgage debt and provide it as a down payment.

If you have partially used maternity capital, it is no longer suitable for a down payment, only for repayment.

The bank will be calmer if you add previously accumulated funds to the maternity capital certificate, which will increase the down payment, thereby shortening the mortgage term or reducing interest on payments.

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More about mortgages

Selection of a loan or loan

General aspects

The mortgage purchased with the help immediately becomes the property of the borrower. This is how mortgage loans differ from other ways of resolving the housing problem, in particular from housing and savings cooperatives.

Participation in the latter implies that the housing remains the property of the enterprise until the cost of the property is fully paid.

When a mortgage is taken out, the borrower who repays the loan becomes the owner.

Due to this, protection is provided against all kinds of attacks and unreliability of the organization that issued the loan. Against this background, pseudo-mortgage products should be noted.

Their schemes provide that the borrower does not receive ownership rights immediately, but only after a certain period specified in the contract.

But, despite the right of ownership of mortgaged housing, the borrower is still somewhat limited in his actions.

Until full settlement of the loan, the encumbrance on the object, stipulated by the loan security agreement, remains. The apartment serves as collateral for the mortgage.

The owner of a mortgaged apartment has the right to use it for living. However, to perform other operations with the object, it is necessary to obtain the consent of the lender.

The bank's permission will be required to register registration of unauthorized persons who are not co-borrowers or co-owners.

The bank decides on the admissibility of renting out housing, carrying out redevelopment and repairs and other actions. A mortgage for the purpose of purchasing an apartment in a building under construction deserves special attention.

In this situation, ownership can only be registered after construction is completed. How to properly register ownership of an apartment with a mortgage?

Required terms

A mortgage is a loan in which a loan is secured by property.

Most often, the purchased object becomes collateral, but existing real estate can also be used for collateral.

When considering a mortgage from the point of view of property rights, it is necessary to understand the mechanism of the transaction itself. By taking out a mortgage loan for an apartment, the borrower receives the necessary funds for the purchase.

A purchase and sale agreement is concluded between the borrower/buyer and the seller/owner of the apartment.

The bank does not directly participate in the transaction at this stage, except for providing the required amount.

After signing the DCP, the mortgage borrower enters into a collateral agreement with the creditor bank. The purchased apartment becomes collateral for the loan.

The purchase and sale agreement is the basis for registration of ownership of the acquired property.

This provides the new owner with the right to use, own and dispose of the apartment.

The pledge agreement imposes restrictions on the acquired property right. That is, the owner only has the right to own and use the property.

You cannot dispose of the mortgaged apartment at your own discretion. Any real estate transaction requires permission from the immediate lender.

What is it for

The combination of a purchase and sale agreement and a mortgage pledge agreement becomes a guarantee for both parties. On the one hand, the borrower is confident in his right to the purchased housing.

Alienation of property is not permissible without his consent, provided that he fulfills his obligations under the loan.

On the other hand, the bank is confident in securing the loan. Until the encumbrance is lifted, the borrower will not be able to sell, exchange, or donate the apartment.

But a reasonable question arises: why does the borrower need ownership rights if he still cannot dispose of the apartment?

Situations where proof of ownership is required may vary. For example:

registration of registration;
carrying out planning (to obtain permission from the relevant authorities);
obtaining the right to vote at the general meeting of owners of apartment buildings;
registration of tax deductions;
use of maternity capital (when paying a mortgage);
protection of rights in case of bankruptcy of the developer (in case of participation in shared construction).

According to the legislation of the Russian Federation on mortgages, an apartment or other residential premises is immediately registered as the property of the mortgagor.

The following are subject to state registration:

mortgage agreement;
contract of purchase and sale of the subject of mortgage;
agreement of pledge of the mortgaged object.

The procedure for obtaining a mortgage on property may differ slightly, depending on the type of housing.

But in any case, you should choose programs in which the borrower immediately becomes the owner of the purchased property. This will provide maximum protection against the lender’s dishonesty.

Legal grounds

Article 8 and Article 35 of the Constitution of the Russian Federation enshrines the right of a citizen to be the owner of real estate, including alienating it, inheriting it, exchanging it, etc.

But the ownership of housing must be formalized. The legal preparation of the necessary documentation was previously regulated by Federal Law No. 302 of December 30, 2012.

According to the mentioned act, confirmation of the right to property is registration carried out by government bodies represented by Rosreestr. The fact of registration of the right is certified by an entry in the Unified State Register.

In 2020, ownership of an apartment is registered in accordance with Federal Law No. 218 of July 13, 2015, which came into force on January 2, 2017.

This standard retained the same principles of state registration of rights. As before, evidence of the existence of a right is the existence of a corresponding entry in the state register.

In this case, previously issued certificates of ownership become invalid. Another change concerns the name of the register of rights.

Now a record of the emergence or change of ownership is entered into the Unified State Register of Real Estate. The right to real estate recorded in the Unified State Register of Real Estate can be challenged exclusively in court.

The owner does not need to obtain a certificate of ownership of the property; the presence of an appropriate entry in the register of rights is sufficient.

To confirm his right, the owner can receive an extract from the Unified State Register at any time.

How to get a mortgage without a down payment

What documents are needed

passport;
TIN;
certificates: from drug treatment and psychoneurological dispensaries, from the BTI, from the tax office;
insurance certificate of state pension insurance;
a copy of the work book certified by the employer;
certificate of marriage/divorce;
extract from the Unified State Register of Rights to Real Estate;
a report on the assessment of the premises carried out by an independent expert;
title documents for real estate;
documents certifying ownership of additional real estate, which is used as collateral.

Also, most likely, the bank will require the borrower to insure life, health and the purchased property.

Pledge

If you have property commensurate with the size of the mortgage loan that you can use as collateral, the bank can give a mortgage on more favorable terms than without it.

Consumer loan as a down payment

Maternity capital as a down payment

Maternity capital can be used to both pay off mortgage debt and provide it as a down payment.

If you have partially used maternity capital, it is no longer suitable for a down payment, only for repayment.

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Home » How to get a mortgage for a primary home?

The procedure for registering ownership of real estate during mortgage lending

In order to legally confirm the right of the new owner to the purchased property, you should contact the state registration authorities. In the Russian Federation, a special state body, Rosreestr, is responsible for entering data on changes in the owner of residential real estate.

The procedure for this legislative act is strictly regulated and divided into the following stages:

Submission of a package of documentation by the new owner to the state registrar;
Checking the availability of all necessary copies of documents by the employee;
Conducting a legal examination of the transaction and all other circumstances provided;
Indication of identified deficiencies (if any);
Making a decision to satisfy the requested action;
Entering relevant information into the Electronic Register of Real Estate Owners;
Drawing up an extract from the Unified State Register of Real Estate, which is the title document of the new owner of the square meters.

Measures to change the record of the new owner are carried out within the period established by the procedure - 5-10 working days. Sometimes in large populated cities this period may increase due to the high workload of the company’s employees. An obstacle to compliance with the minimum deadline may be the identification of improper execution of the submitted documents.

A package of documents for registering ownership of an object purchased with a mortgage

Each legislative procedure involves the formation of a specific package of documentation. This need is due to compliance with all letters of the Law, in accordance with a specific procedure. Registration of ownership of an apartment is no exception and requires the submission of certain documents.

Each individual case has its own list, but the main ones do not change:

Documents identifying the identity of each participant in the transaction;
Application for state registration of changes in Rosreestr;
Payment order from a banking institution regarding payment of fees for registration activities;
contract of sale;
Certificate of title of the previous owner;
A mortgage agreement and a mortgage note, which stipulates the conditions for the return of funds and the conditions for the borrower to take full ownership of the property;
Technical passport for the apartment;
Certificate from their Housing Office about registered persons in the apartment;
Documentary confirmation of the absence of debts on utility bills;
If the apartment is jointly owned, then notarized consent of the other half or shared owners;
Special guardianship permission in cases where there is a minor child among the sellers.

Applying for a mortgage on an apartment: details of the procedure

If the bank did not issue it yourself, ask for a document confirming the approval of the loan for the purchase of an apartment. The seller needs it to be sure that you can buy the apartment.

Submitting documents for the apartment to the bank.
As a rule, sellers have already collected all the necessary documents. If you purchase an apartment from an individual, just in case, you need to check his housing certificates. It may turn out that someone else has the right to the apartment, or encumbrances have been imposed on it, etc. It is advisable to personally contact the federal registration service and obtain a certificate of the absence of encumbrances and restrictions.

Review of documents by the bank. Lawyers will check the documents within a few days and draw up their own package of documents for obtaining a mortgage.

How to register ownership of an apartment with a mortgage (secondary real estate market)

When purchasing an apartment with a mortgage on the secondary housing market, it is important to clarify all the important points in the documents before conducting a transaction to re-register property rights. The main points that are important for the buyer are the absence of debt on utility bills, legal redevelopment, if any, and the availability of all supporting documents.

It is necessary to find out the number of sellers, their consent to sell the apartment, as well as the presence of registered minor children.

An apartment purchased with a mortgage is registered with Rosreesr using a standard package of documents. After checking the provided documents and making the necessary entries in the main register, the official is obliged to provide the new owner of the apartment with an extract from the Unified State Register on the specified date. The date of issue of documents is indicated in the receipt for receipt of the documentation package.

Family issues and property purchased before marriage

In order to have the opportunity in the future to re-register a mortgage for an apartment in the name of one of your relatives, you need to take care in advance.

One of the options for selling apartments is a mortgage. Developers enter into contracts with a bank located geographically in the locality where the construction of the facility takes place. The latter, in turn, offer mortgage loans to the population. Another, buying an apartment on the secondary market.

Until full settlement of the loan, the encumbrance on the object, stipulated by the loan security agreement, remains. The apartment serves as collateral for the mortgage.

After the debt is fully repaid, the encumbrance is removed, and the apartment becomes the borrower’s full disposal.

Undoubtedly, the most profitable option for purchasing an apartment through a mortgage is housing under construction. As you remember from our previous posts, a new building is an apartment for which ownership has not yet been registered, i.e. equity participation in construction. You can pick up documents either together with the seller or separately for each participant in the transaction. But in the first case it is more convenient. After the registration chamber, you and the former owner go to the purchased property, inspect its condition, check payments and meter readings.

Nuances of registering the right to an apartment purchased with a mortgage in a new building

Registration of ownership of an apartment purchased in a new building is more difficult than on the secondary housing market. The transfer of full ownership in this option will occur only after completion of construction work and commissioning of the residential building.

Before going to court you need to obtain a mortgage from the bank. It is provided only after the apartment has been assessed for a mortgage and a corresponding report has been prepared for the bank. The basis for completing the assessment will be the availability of a cadastral and technical passport for the apartment, which in turn are issued only after the developer has delivered the house.

As a result, the scheme for registering an apartment as property from the developer is as follows:

Receiving tech. and cadastral passports for the property;
Order an apartment assessment;
Registration of a mortgage in a bank;
Registration of property.

The basis for registering ownership of an apartment in a new building from the developer will be as follows:

Share participation agreement;
Mortgage agreement;
Mortgage;
Certificate of acceptance of transfer of apartment;
Documents confirming payment for the apartment;
Duty

These documents must be submitted to the MFC to register housing ownership. There is no point in submitting documents until the developer provides a complete package of documents confirming the commissioning of the house and registration of the house in the cadastral register.

The person who has the mortgage may not be the owner of the new apartment?

The service life of a residential building depends on this.

The foundation and supports made of concrete, load-bearing walls made of brick or stone guarantee greater durability of the house than a bulk foundation and walls made of wood. Consequently, such buildings are considered the most liquid. The following factors are important to evaluate a home:

— Availability of communications, roads and access roads.

— The degree of infrastructure development in the locality.

— Territorial distance from large cities.

— The purpose of the land plot on which the house is located and the existence of ownership rights to the land. The site must have settlement status and be intended for the construction of individual residential facilities.

The bank makes a decision to issue a mortgage subject to compliance with all of the above requirements, which are difficult for the borrower to satisfy in full. In the secondary housing market it is possible to purchase a house with a mortgage, but in the primary market it is very difficult. The bank needs to conduct a thorough analysis of legal and construction risks, and as the bank’s risks increase, the borrower is usually denied a mortgage for a house. If problems arise with repaying the loan, the collateral subject to sale. Selling a private or country house is more difficult than selling an apartment in a multi-storey building. The demand for such buildings is insignificant.

When deciding to buy a home, it is recommended that you familiarize yourself with the terms and conditions of mortgages on the official websites of different banks. The mortgage loan calculator, available on all websites, will help you independently calculate the repayment terms of your home loan, set the monthly payment amount, choose the optimal loan terms and interest rate on the loan.

What documents are needed to apply for a mortgage on a house?

To obtain a mortgage loan, the borrower must provide the bank with documents confirming his income and solvency (form 2-NDFL certificate, copy of work record book, etc.), and an identification document - passport. Additionally, a package of documents for the purchased property is provided:

registration certificate for the house;
BTI certificate on inventory value;
cadastral site plan and building passport;
title documents;
report of an independent expert on the assessment of the loan object.

Depending on the requirements and conditions of the selected bank, the list of required documents may be supplemented.

What should you know when applying for a mortgage on a home?

The mortgage lending program for the purchase of a house provides an interest rate that is 2-3% higher than the program for the purchase of an apartment. The average annual interest rate in the mortgage market when buying a home varies from 12% to 15%. In addition, the amount of the down payment is 40-60% of the total collateral value of the building. The maximum loan term when buying a house with a mortgage is up to 30 years. As collateral, the borrower can provide the bank with real estate they already own or a house purchased with a mortgage. The number of co-borrowers under a home mortgage agreement is limited - no more than 3 people, including the borrower.

The borrower can calculate the mortgage at the bank where you plan to take out a loan for a house and draw up an approximate payment schedule depending on your income level in advance. The main banks that finance mortgages for the purchase of a home include Alfa-Bank, Bank of Moscow, Bank Vozrozhdenie, Nordea-Bank, Sberbank and UniCredit. A mortgage loan calculator is available on all official websites of the listed banks.

An online application for a mortgage loan can be submitted to several banks at once. This will allow you to choose the best lending conditions, save time and costs on registration, and also increase the chances of receiving a positive decision on issuing a loan.

When applying for a mortgage loan to purchase real estate, the borrower is faced with the question of how the ownership of the home is determined. There is definitely only one answer to this question - when a mortgage is issued, the apartment becomes the property of the borrower. All documents confirming this fact are drawn up at the conclusion of the transaction and registration.

In some cases, purchasing housing on credit may limit the borrower's property rights.

Registration of property after payment of the mortgage

After paying off the mortgage, the owner of the apartment has the right to register ownership of the apartment in full. After all, while the apartment is pledged as a guarantor of repayment of the loan, the owner has no right to perform practically any legal actions with it. The following types of encumbrance are imposed on the apartment: prohibition of sale, exchange, donation. Sometimes financial institutions prohibit even registration until the loan is fully repaid.

An application must be submitted to the local representative office of Rosreestr along with documents on the termination of the pledge agreement. Registration of lifting the ban takes three days.

What is needed to apply for a mortgage?

Under the terms of most loan programs, real estate purchased with a mortgage is transferred to the bank as collateral for repayment of the loan provided to the borrower. An encumbrance is placed on housing purchased with a mortgage. Which implies that the borrower's property rights are limited until the debt to the bank is repaid.

The presence of an encumbrance implies that the borrower does not have the right to sell, change, rent out housing, or even register relatives without obtaining permission from the lender. The encumbrance on the apartment is removed only when the borrower fully repays the debt to the bank and closes the mortgage in the Unified State Register. Only after this does a person have the right to exercise his or her property rights in full.

If for some reason the borrower is unable to pay the debt on the mortgage of the purchased property, then resolving the issue requires coordinated actions between the borrower and the lender. Perhaps the bank's concessions and easing of credit conditions can help cope with the borrower's financial difficulties. If a constructive solution is not found, then the property is sold to pay off the debt. In this way, the borrower can also be compensated for part of the costs of paying off the mortgage loan.

Applying for a mortgage for the purchase of a private or country house has its own characteristics. It is more difficult to take out such a loan from a bank than to purchase an apartment. The home mortgage lending program occupies a small share of the bank's loan portfolio. Why are credit institutions reluctant to provide a mortgage for the purchase of a home? What requirements do banks have for this type of housing? What are the main reasons for being rejected for a home mortgage?

Bank requirements for purchased houses and reasons for refusal of a mortgage

Housing purchased with a mortgage, as a rule, becomes the subject of collateral for the loan. Banks are required to carry out a legal and construction assessment of the building. The main requirement is the liquidity of the collateral during the loan period. Attention is drawn to the materials from which the foundation, supports and load-bearing walls are made.

What documents are required to remove the lien?

To vacate an encumbered apartment, it is necessary to collect the documentation required by the regulations:

Owner's passport;
A duly completed application;
Payment order or certificate from the bank confirming full repayment of obligations;
Original mortgage agreement;
Mortgage note with a note about mortgage repayment;
Documents on ownership of the apartment.

The State does not provide any special payment for lifting the ban. Only if the client wishes to receive a new title document, you only need to pay two hundred rubles.

Will existing housing interfere with a military mortgage?

For many years now the state has been trying to solve the problem of providing housing for military personnel. Despite the constant attention to the problem of the highest officials of the state, the queue for housing is decreasing slowly, and social programs cannot meet the demands of military personnel. Against the backdrop of all the negatives, the savings-mortgage system looks very positive.

The main condition that must be fulfilled is the service of an officer or soldier until the age of forty-five years, which will amount to approximately 17-20 years of service. All this time, the state will pay the mortgage loan to the bank or accumulate funds in a special account.

27 Jun 2020 stopurist 453

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What to do if the creditor's bank ceases to operate

Unfortunately, the media often hears news about the cessation of the existence of one or another financial institution. In this case, borrowers need to check with the bank who will be the holder of the mortgage in the future.

The bank cannot simply disappear. All his assets will definitely be redistributed. The mortgage on your apartment will also be transferred to someone. Most likely, it will be AHML or another large bank that will buy it or take it for debts during reorganization, etc.

Once the mortgage holder has been identified, the standard procedure for removing the encumbrance from the apartment will need to begin.

Registration of ownership of an apartment with a mortgage

2. Property acquired by spouses during marriage (common property of spouses) includes the income of each spouse from labor activity, entrepreneurial activity and results of intellectual activity, and pensions received by them. benefits, as well as other monetary payments that do not have a special purpose (amounts of material assistance, amounts paid in compensation for damage due to loss of ability to work due to injury or other damage to health, and others).

securities, shares, deposits, shares in capital contributed to credit institutions or other commercial organizations, and any other property acquired by the spouses during the marriage

When Rosreestr can refuse to re-register a right

An employee of the State Registration Service may refuse to accept an application solely based on an examination of the documents provided:

Incomplete package of documents;
The document is not of the established form;
Suspicions of fraud arise;
Discovery of a notarial or other prohibition on conducting operations with specific real estate and any transactions with it.

After all the comments have been corrected, you must re-make an appointment with a specialist and submit the entire package of documents again.

You can complain about unlawful actions or inaction of an employee both pre-trial and in court. To do this, it is necessary to draw up a statement indicating the fact of the offense, detailing its essence.

Registration of ownership of an apartment is always a slightly exciting procedure for the new owner - both with a mortgage and when buying for cash. In any case, it is important to remain calm and carefully read each point of the signed documents on the transaction. This will ensure in the future a quick and comfortable conversion of the apartment into personal ownership.

We look forward to your further questions. We recommend that you sign up for a free consultation with our lawyer using a special form because... This moment has certain nuances and the support of an experienced lawyer will be very useful.

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