What is a mortgage
The form of obtaining a bank loan on the security of your existing real estate. What it will be: a plot of land, a house or an apartment, arranged in the ownership, is not so important. The main thing is that you, like the ancient Greeks, transfer the usurers temporary rights to their possessions, in return receiving a loan at a certain interest. In our country, currently, lending rates for such transactions in the residential sector are on average 15-18%, and banks do not bear virtually no financial risks.
Your risk is obvious: untimely return of the loan, which was taken to buy a house in a mortgage, improper execution of documents, negligence of the builder, deprive you not only of housing but also of money. Regulate the relationship of the borrower and the lender for such transactions at once with several legislative acts, the main of which are:
- federal law of 16.06.1998 No. 102-FZ "On Mortgage( Real Estate Pledge)";
- Housing Code of the Russian Federation, enacted by the law of 29.12.2004 under the number 188-FZ.
If you consider yourself competent enough in legal matters, feel free to take the road to improve your housing well-being. Doubt, contact a specialized bank and real estate offices. There will be such a one-off operation rather expensive( the quotations change every month, so you can even give average figures, we do not see the point).
Loans for construction of country houses
Immediately note that the mortgage for the construction of private houses is the most unpopular for banking organizations loan portfolio. Mortgage against the security of the existing apartment for the construction of a new one gives the lender the opportunity to take something from an unscrupulous borrower. Even in the event of bankruptcy of the developer and completion of works at the stage of erection of the foundation, the mortgage agreement allows recovering practically all the allocated amount from the creditor.
To prove their own and not only consistency and reliability to buy a house in a mortgage, will have a very serious documentary portfolio. What prevents to buy a house in a mortgage.
- Lack of standards for the evaluation of construction projects. Typical houses on standard projects we have been building so far, a little firm trust, working in this business, do not cause.
- Mass resettlement of urban residents in suburban cottage settlements has not happened yet, therefore the very market of such real estate is spontaneous. The liquidity of such residential buildings is small, the supply clearly exceeds demand. Work with goods that are not claimed on the market as collateral for property, banks simply do not have any interest.
How to issue a mortgage on the house
The question is already from another legal plane, since it often solves the problem not to buy a house in a mortgage, but sell it as a security guarantee. In any case, before you apply for a mortgage on the old house and buy a new one, you must have the following documents in your hands:
- certificate of ownership of land registered in accordance with the procedure established by law( for the time being 122-FZ of 21.07.1997);
- cadastral passport or land plot that you managed to acquire in the property;
- technical passport of the residential building being the subject of the pledge;
- evaluation of the BTI on the inventory value of the house and its cadastral passport registered in Rosreestr.
In a credit institution where you apply to sell or build a house in a mortgage, you may be required to do a lot of other documents, but you should remember that the risks are mutual. If you need an independent appraisal of the house, confirmation of a good credit history, participation of guarantors - you can not get away anywhere. At the end of the process, the coveted result is always visible: new comfortable housing and debts for life.
A little pessimism, more precisely, realism, before making such a historic decision will not hurt. If we evaluate the growth statistics of the annual volumes of such loans, Russian citizens already know how to buy and sell a house in a mortgage. Feel free to join their ranks.
