Promsvyazbank is reducing the interest rate on mortgage loans both for its borrowers and for clients of other banks. Currently, mortgage refinancing at Promsvyazbank is offered at 9.7%, subject to joining the Collective Insurance Agreement.
In addition to reducing the rate, if you contact Promsvyazbank, mortgage refinancing will allow you to increase or decrease the loan term in order to either reduce the amount of monthly payments or reduce the amount of the final overpayment on the loan.
Conditions for refinancing at Promsvyazbank
The main requirement that is presented to the client to reduce the mortgage rate by refinancing is the size of his monthly income. It determines what maximum amount the bank will issue for refinancing. Mortgage rates depend on whether the borrower has insurance (or is willing to take it out). The maximum loan amount is 15 million rubles. Loan terms range from 3 years to 25 years.
What is the procedure
The first step of a person who wants to apply for a mortgage loan refinancing is to fill out a form (the form can be downloaded on our website). The questionnaire indicates:
Personal Information,
Contact Information,
Address of place of permanent and temporary registration, actual residence,
Passport details,
Information about marital status and education,
Data on work activity, main and secondary place of work (part-time, if any),
Sources of mortgage loan repayment,
The size and direction of mandatory monthly expenses,
How much and for how long do you want to borrow,
Information about the property for which the loan will be used to refinance.
With the completed form, you must go in person to any bank branch.
The refinancing procedure is standard in such cases: the client is approved for a loan, given money, he goes with it to his bank, pays off the mortgage there, receives a certificate of removal of the encumbrance on the collateral, goes back to Promsvyazbank, registers real estate there as collateral, pays for an insurance policy real estate.
To obtain a loan, documents must be provided not only about the borrower, but also about the property.
List of documents
The package of documents will differ depending on whether you want to reduce the interest rate on the mortgage that you have already taken out at Promsvyazbank, or whether you want to use the refinancing service.
In the first case, you will only need a passport, a loan agreement and an application for a reduction in the interest rate. This service has recently been increasingly practiced by large banks. And, although Promsvyazbank has not yet officially announced it, it is quite possible that it will put it into effect in the near future or even at the moment when you are reading this article. In any case, the client has every right to request a reduction in the interest rate from the bank.
In the second case, when you want to refinance a loan from a third-party bank, you will need the following documents:
Information about the amount of monthly wages (certificate of income 2-NDFL) and length of service (copy of work record book, copy of employment contract, etc.).
Military ID.
Loan agreement and mortgage repayment schedule.
A certificate indicating the account details to which funds can be transferred to repay the loan.
A certificate stating that maternity capital was not used for mortgage lending (required if the borrower has two or more minor children).
A certificate from your bank regarding the refinanced loan, which contains the borrower’s full name, his passport details, information about the current debt and interest. The certificate is valid for 30 days from the date of issue.
Documents on the subject of the pledge: Equity participation agreement (for a new building), ownership of the apartment, extract from the Unified State Register of Real Estate, documents confirming payment by the buyer of the property in full, registration certificate and cadastral passport (if it is a house with a plot), certificate that the house is not subject to demolition, extract from the house register.
Be prepared to be asked for a document confirming the current value of the property - the assessment is carried out by independent companies, whose services are paid for by the client himself. The document is valid for 6 months.
For clients of other banks
Promsvyazbank refinances mortgages from other banks to individuals, provided that they meet the following requirements:
Having Russian citizenship,
Age from 21 to 65 years (the last date is considered as the end date of payments under the loan agreement),
In the region where the bank branch is located, the client must have a permanent place of work, permanent registration or actual place of residence with temporary registration.
The loan is issued only to hired employees (individual entrepreneurs are eligible for the program only if they have been working in this status for more than two years).
The total work experience must be 1 year or more.
You must have more than 4 months of experience in your current position.
A working landline phone and cell phone must be provided.
If the borrower is under 27 years of age, he should not be subject to military conscription during the period of validity of the loan agreement.
For your clients
As we wrote above, Promsvyazbank does not officially advertise the service of refinancing its own mortgage loans. However, according to current legislation, any bank client can contact its branch with an application for a reduction in the interest rate. Necessary conditions for consideration of an application:
No mortgage arrears within the last year.
Good credit history.
The deadline for loan payments is at least 6 months, the terms of using the loan are from 1 year.
For those who find themselves in a difficult life situation, there is no need to worry about how to refinance a mortgage - they need to submit a request for loan restructuring, attaching all the necessary documents, primarily those that confirm the onset of a period of insolvency and justify it.
How to apply for and refinance a mortgage loan at Promsvyazbank
Go to a Promsvyazbank branch, fill out a form (or print it from our website and fill it out at home, taking it with you).
Provide a passport and other required documents (see list above).
Wait for the application to be approved.
Receive funds (usually they are transferred to a third-party bank account by Promsvyazbank itself).
Get a certificate from your old bank about the removal of the encumbrance on the collateral real estate.
Conclude a collateral agreement with Promsvyazbank.
Get insurance.
It will also be necessary to evaluate the property and have the spouse’s permission to enter into a mortgage agreement certified by a notary.
Before reducing the mortgage rate, the bank will ask you to draw up a collateral agreement and insurance - until this point, refinancing will be issued at a sufficiently high interest rate to reduce the bank’s risks.
Restructuring at Promsvyazbank
Another way to change the terms of a loan agreement previously concluded with Promsvyazbank is restructuring. But to carry it out, compelling reasons and documents confirming their existence are required. For example, the borrower was in a serious accident, is in the hospital and cannot yet pay the loan. Or lost his job. Or found yourself in another difficult life situation.
In this case, the bank rarely reduces the interest rate. But he can enter into an additional agreement with the borrower, according to which he will provide a credit holiday, increase the loan terms (which will entail a reduction in monthly payments) or allow him to pay only interest on the loan for a certain time.
If a citizen wants to change the conditions for the return of capital, Promsvyazbank will help him. The service allows you to change the procedure for calculating debt. The borrower will be able to save money or extend the repayment period of capital.
Features of the service
Refinancing or refinancing is a banking service that represents the receipt of a new loan to cover previous obligations. The offer helps:
- extend the loan settlement period;
- adjust the monthly payment amount;
- combine several loans into one.
The service is provided only to reliable borrowers. It cannot be used as a way to prevent subsequent deterioration of credit history if a delay has already occurred.
Refinancing allows you to reduce the monthly burden on the client’s budget by extending the payment deadlines for obligations.
However, do not confuse refinancing and restructuring. In the first case, the loan agreement is re-concluded. involves the execution of an additional agreement to the current contract. The service is provided by the same bank that issued the original loan. You can apply for refinancing at any bank.
Under what conditions is a new loan issued?
If a mortgage is refinanced at Promsvyazbank, a citizen can receive a new loan at a rate of 10.5% per annum. However, the actual amount of the overpayment will be several percent higher. This takes into account:
- monthly income;
- other circumstances affecting the client’s solvency.
The company is ready to provide up to 15 million rubles. The loan is issued for a period of 3 to 25 years.
Requirements for the applicant
Available only to individuals who meet the organization's requirements. Loans are issued to citizens of the Russian Federation aged 21 to 65 years. The borrower must live or work in the city in which the bank has a branch.
Refinancing a mortgage at Promsvyazbank in 2017 is possible if you have official employment. The applicant is allowed to have a share in a legal entity, but not more than 25% if the citizen works in this organization.
Cooperation is also provided. Work experience requirements vary depending on the borrower's status. To receive a loan you must work for at least 1 year. Of these, 4 months must be at the last place of work. As for individual entrepreneurs, the experience requirements increase to 2 years.
During the registration process, it may be necessary to involve co-borrowers. The bank considers them as:
- the applicant's spouse;
- relatives;
- adult children.
During the loan application process, a citizen must provide two phone numbers. If a man under 27 years of age applies to the bank, he should not be subject to conscription for military service. Otherwise, the application for mortgage refinancing at Promsvyazbank will be rejected. If a citizen who is serving under a contract applies to the company, the loan is issued only if there is a co-borrower.
Required papers
Refinancing of mortgages from other banks is carried out after providing a complete package of documents. This includes:
- certificate with bank details for transfer;
- borrower's passport;
- previous loan agreement;
- application for refinancing;
- income certificate;
- military ID if a man under 27 years of age applies to the bank.
The bank may require additional documents. Failure to provide documents will result in the application being rejected.
Advance paynemt
Before refinancing your mortgage at Promsvyazbank, you need to calculate the amount of monthly payments. You can perform this action using a loan calculator. It is located on the offer page. The borrower only needs to indicate:
- family income;
- the loan amount required to repay obligations;
- credit term.
The action is performed using sliders and selecting data from a pop-up window. The system automatically performs calculations. The information is approximate. It is calculated taking into account the minimum interest rate. In practice, the payment amount may differ from the received data.
Design scheme
To refinance a mortgage at Promsvyazbank, you need to submit an application. This can be done at the organization's office. You can get a preliminary consultation online. To do this, you will need to submit an application through the company’s official website. In the form you must indicate:
- information about the potential borrower;
- residential address;
- communication data.
After this, a bank employee will contact the borrower and explain the specifics of cooperation. If a citizen is satisfied with the nuances of refinancing, he must come to the company’s office and fill out a form. Then you have to wait for the organization's decision.
If the bank agrees to provide money to repay an open loan, you will need to collect documents and re-apply to the office of the financial institution to sign the loan agreement. The bank will then transfer the money to the previous lender's account. It is advisable to obtain a certificate of complete settlement of the debt. After this, the citizen will have to close his obligations to the new creditor. Cooperation with the previous company is terminated.
Conclusion
– an advantageous service that allows you to change the terms of the loan agreement. The company has a relatively low interest rate. The service allows you to extend the settlement period with a financial institution. However, a citizen must understand that prolonging the term of the contract will lead to an increase in the amount of overpayment. The offer cannot be used if the borrower is in arrears.
Mortgage refinancing is becoming more and more popular every day. The service involves issuing a new loan to repay a mortgage issued in other banks. This is done in order to improve lending conditions: reduce the annual interest rate, optimize the payment schedule, and reduce the monthly installment. You can arrange refinancing at Promsvyazbank (PSB).
In PSB, individuals will receive more favorable conditions than in other financial institutions.
The PSB refinancing program is popular. It has many advantages:
- suitable for housing from the primary and secondary real estate markets;
- it is possible to change the loan term by increasing or decreasing it;
- you can reduce the mortgage rate to 9.1% per annum, when in other banks it is more than 10%;
- You can manage your loan online;
- You can confirm your income level using a bank certificate.
Online calculation
You can understand how profitable the program is using an online calculator. It is available on the bank's official website. To get the result, just fill in the fields. They must indicate:
- monthly family income;
- mortgage balance;
- term.
When indicating the size of a family's income, unofficial sources should also be taken into account. To confirm your financial status, you can provide a certificate in the bank’s form to the PSB. It is not a tax document, and information from it is not distributed outside the bank without the permission of the borrower.
Registration procedure
The borrower must personally visit one of the PSB offices. At the bank, you must fill out an application form for the selected program and provide a complete package of documents. The application is being processed. After a few business days, a bank employee provides an answer over the phone. If it is positive, then the contract is signed and funds are received by card or in cash.
Online application
You can receive a preliminary response from the bank via the Internet. To do this, you need to click on the “Online application for refinancing” button on the website in the “Mortgage refinancing” section. The user will be presented with a form in which they must enter personal data and contact information. After 15 minutes, the PSB manager will call back to the specified number to clarify information about the borrower.
The bank makes a final decision on the online application within a few days. If it is positive, then the borrower will need to visit the office with documents. Next, the procedure follows the standard procedure.
Requirements
The main requirement for a borrower who wants to apply for mortgage refinancing is a positive one. If the client had problems with a previous loan, then the bank has a real reason for refusing.
The rest of the requirements are standard. They are presented in the table:
| Citizenship | RF |
|---|---|
| Permanent registration | In one of the regions of the Russian Federation where there is a PSB branch |
| Age | 21-65 years old |
| Job | Employee |
| Experience | General - 1 year, at the last place of work - 4 months |
| Co-borrower | Spouse |
| Military obligations | The borrower must not be subject to conscription while the loan is being repaid. If he serves under a contract, then his term must be more than 1 year at the time of loan repayment |
Documentation
The bank has a policy according to which, by providing a complete package of documents, the client’s chances of receiving a loan increase. It includes:
- loan agreement that is subject to refinancing;
- payment schedule;
- certificate with details of funds transfer;
- loan certificate with information about the remaining debt.
At the bank, these papers will need to be accompanied by an application form, which the manager will give you to fill out.
Borrower expenses
Transferring a loan from one bank to another is a troublesome matter. The borrower will face additional costs during the process. These include fees for issuing an insurance policy, which the bank insists on. In some cases, you will have to pay for servicing an irrevocable covered letter of credit and a rented safe deposit box.
Refinancing from PSB is a good way to save money. However, first you should make sure that the new conditions will be better and worthy of transferring the loan. It is also worth noting that only those loans are subject to refinancing, the agreements for which this possibility is stipulated.
Refinancing a mortgage at Promsvyazbank involves refinancing the borrower on more favorable terms. It is issued if the client has a difficult financial situation and he cannot make monthly payments as usual, or as a bonus to the client for the flawless fulfillment of his obligations.
Features of the program
In most cases, the final decision of the bank is influenced by whether the borrower has good credit rating, because no organization is interested in losing significant amounts. Of course, the easiest way to negotiate with a lender would be for a citizen who has already received a mortgage here and has been paying it off for some time. Even those borrowers whose “home” bank does not have such a service can contact Promsvyazbank.
To review the application, you will need to collect a package of documents, a detailed list of which is given on the bank’s official page.
Advantages of applying to Promsvyazbank for refinancing:
- This will reduce the monthly payment, making it easier to pay off the loan;
- The mortgage term can be increased or decreased at the request of the borrower, depending on his needs;
- It is convenient to monitor your balance online through your personal account on the website or find out useful news using the mobile phone application.
Key program conditions
Clients who decide to transfer a housing loan issued by a third-party organization to Promsvyazbank are offered the following refinancing conditions:
- Annual interest rate from 9.7%;
- Loan period: from 36 months to 25 years;
- The amount can reach 15 million rubles depending on the client’s solvency;
- There may be a guarantor or a co-borrower in the transaction.
The bank’s website contains a calculator, the use of which will allow the borrower to understand whether refinancing a mortgage at Promsvyazbank will be profitable. You can immediately calculate the approximate amount of your monthly payment.
To refinance, you must submit an application either at the organization’s office or do it remotely. In the online application, the client will need to indicate: information about himself, contact details and place of residence, date of birth and, if desired, enter his email address in the appropriate field.
There is no need to fill out any further information; the application is immediately sent for consideration. Next, a bank employee contacts the person and, if the application is approved, invites him to the bank with a package of documents.
The borrower must meet a number of evaluation criteria
To refinance a mortgage successfully, the borrower (and including his guarantor or co-borrower, if they also take part in the transaction) must meet the following requirements:
- Be citizens of the Russian Federation aged from 21 to 65 years (at the time of making the last payment under the agreement);
- Have an actual place of residence or work in the region in which the lender’s office is located;
- If a person applies for refinancing under the “Secondary Market” program, the borrower is allowed not to have registration in Moscow and the region;
- Regarding work activity: a person must be employed (that is, the program is not designed for those individuals who are registered as an individual entrepreneur). The person’s total work experience must be at least a year, and he must have worked at his last job for at least 4 months.
As a co-borrower The spouse of the co-borrower must necessarily participate in the transaction. Also, when submitting the application form, you must indicate at least 2 contact numbers, one of which must be a stationary work number. For men under 27 years of age inclusive, you will need to bring a military ID. This will enable the lender to understand that the person will not be called up for military service during the loan term.
Those persons who regularly deposited funds into the account and have a positive credit history will be able to take advantage of the offer. All situations and applications are considered on an individual basis.
The refinanced loan must also meet certain requirements: for example, it must have been issued at least 6 months ago and there must be more than 3 calendar months left before its full repayment.
Learn more about the documents required by the bank
In order for the borrower to have the opportunity to receive the most favorable conditions, he will have to spend time preparing and collecting documents.
So, to get a mortgage refinancing from Promsvyazbank you need to have with you:
You will also need certificate for refinanced mortgage. It consists of the following key points: the date of registration, information about the borrower and documents that prove his identity, an indication of the amount of the debt and the date on which this information was received. It also states the balance of the debt, including interest, indicating the number of the loan agreement. An original document is required, which contains the full name, signature of the employee who issued it and the seal of the bank.
Please note that the latest document is only valid for 30 days from the date of receipt.
Therefore, even before filling out the refinancing application, you need to take care of collecting all the information.
The bank also reserves the right to require other documents that are not presented in this list, if necessary to make a final decision. On the website in the appropriate section there is a list of all related documents, samples of which, if necessary, can be downloaded for review.
Algorithm for obtaining refinancing and nuances of the procedure
To change the terms of your current housing loan, the borrower, in addition to preparing documents, needs to adhere to the generally accepted algorithm of actions, which consists of the following steps:
- Direct submission of the application form. Over the phone or in person – your choice. The option of a personal visit to the bank suggests that it is advisable to already have the required package of documents with you, this will allow you to spend less time;
- Checking information. Here you need to be prepared for the fact that all documents will be carefully checked, the employer will receive a call to clarify whether the borrower really works at the specified place;
- If the program requires you to purchase insurance, you will have to do so. All expenses in accordance with the tariffs established by insurance companies are borne by the borrower himself;
- Obtaining consent from the borrower’s spouse that he is not against concluding an agreement not to refinance the mortgage. The document is submitted in writing and certified by a notary. The service is paid for by the client himself;
- Directly signing a new agreement, creating a new payment schedule and transferring the collateral to Promsvyazbank. An apartment purchased with a mortgage will now be under his encumbrance until the person fully pays off the new lender.
Then the borrower can only regularly make payments in accordance with the new agreement. Any violation is subject to penalties: a fine of 0.06% of the debt amount exactly until the day the obligatory payment is made.
Otherwise, Promsvyazbank offers mortgage refinancing to everyone, including clients of third-party organizations. If the borrower meets the requirements, re-issuing the contract on favorable terms is a matter of a couple of days.
