Interest rate is the determining factor when choosing mortgage program. Not always Moscow banks can approve Housing loan at a reduced rate. That is why more and more clients are seeking to get mortgage refinancing in Moscow. Refinancing allows you to lower rates and get better loan repayment terms.
Mortgage refinancing 2019 in Moscow - terms of registration
Who can apply for a loan? The requirements of Moscow banks are as follows:
- age from 21 to 65 years;
- positive credit history;
- no mortgage arrears;
- having a stable income.
Mortgage refinancing in other banks in Moscow is possible only on the condition that the mortgaged apartment becomes a pledge of the new bank for the duration of the loan repayment. After concluding an agreement with a new bank, the existing mortgage is repaid. The client receives improved credit conditions: low rate, small payment, modified repayment term.
The best offers of banks 2019 you can find on this page. AT comparative table the programs of both large institutions (Sberbank, VTB Bank, Gazprombank, Alfa-Bank, Rosselkhozbank) and regional banks were collected. Here you can also calculate the payment online by entering the term and amount of the new loan into the mortgage calculator in Moscow. The mortgage refinancing calculator in Moscow will show how beneficial the terms of a particular program will be for you.
Documents for mortgage refinancing
If you apply for refinancing at the same bank where you received your home loan, the procedure will not take much time and effort. Many institutions issue new loan to pay off a mortgage with just two documents. Those who apply to another bank will need to provide documents for housing, certificates of employment and a mortgage agreement.
Our service provides an opportunity to send an online application for a mortgage in Moscow. Fill out the form and wait for a response from a bank employee. If the answer is yes, then you will need to come to the office with documents. When signing a new contract, make sure that the repayment terms are much better than the previous ones.
The law of the Russian Federation on 6 percent, more precisely, Resolution No. 1711, was signed by Prime Minister Dmitry Medvedev on December 30, 2017.
Those families in which, starting from January 1, 2018, a second or third child was born, will be able to receive six percent on a mortgage. The difference between 6% and the rate offered by banks will cover the state budget.
The mortgage bill also provides for the refinancing of previously issued mortgage loans to those families that fall under the program - that is, in which the second or third child is born between 2018 and 2022 inclusive.
Loans at a reduced interest rate will be provided by credit organizations and AHML in cooperation with the state.
Conditions for refinancing with state support
Loan subsidies will be carried out up to the level of 6% when applying for a housing loan by families in which the second or third child was born in the period from the beginning of 2018 to the end of 2022. At the same time, you can use the program for a limited period - for example, at the birth of a second child, the state will compensate for the difference in the interest rate for 3 years, and at the birth of a third baby - 5 years. Accordingly, if the mortgage loan is issued for a longer period, then the borrowers will pay the remaining years at a rate that is calculated as key rate The Central Bank at the time of issuing the loan plus 2%. For example, at the time of writing, January 10, 2018, the Central Bank rate is 7.75%. This means that home loan lending new program carried out at 9.75%. It is at this rate that the family will pay the loan from the moment the participation in the program ends.
Mortgage refinancing at 6% occurs according to similar rules - families that have taken out a housing loan, and then, during 2018 - 2022, have acquired a second or third baby, can participate in the program. Their interest rate will also be reduced for a period of 3 to 5 years.
An interesting point: if a second child was born in the family on January 1, 2018 and she exercised the right to subsidize a home loan for a period of 3 years, then after the end of the three-year period, if a third child is born in the family before January 31, 2022, she can resume participation in program for another 5 years. In total, in accordance with the decree on refinancing a mortgage loan, the program can be used under certain conditions for up to 8 years.
If, for example, the second baby was born in 2018, and the third in 2020, then the family will be able to participate in the program until 2025, since from the moment the third child is born, the subsidy is provided for a period of 5 years.
Subsidizing and refinancing with state support carried out under a number of conditions:
Mortgages at 6% in 2018 will be provided to those families in which a second or third child was born.
The rate discount is given only to those families who purchase housing in new buildings, including those at the construction stage.
The cost of the loan does not exceed 3 million for the regions and 8 million for Moscow, St. Petersburg and their regions.
The borrower must contribute at least 20% of the cost of the purchased housing from his own funds.
The borrower is required to participate in the life and health insurance and residential insurance program.
D. Medvedev's decree did not amend the Federal Law on Mortgage N 102, adopted in 1998. It acts as an addition to it, valid for a limited period of time.
If there is a second child
The new law on refinancing and subsidizing says that the second child must be born after January 1, 2018. If a second baby is already growing in the family on this date, then such a family does not fall under the program - more precisely, it will only fall if it gives birth to a third baby no later than the end of December 2022. If the family already has three children, then the program does not apply to them.
For a family with 2 children, subject to the birth of the second during the years of the program, the state compensates the difference between the bank's rate and the promised 6%. This will reduce the amount of monthly payments for the next three years and reduce the final overpayment.
If in a family that applied for a housing loan at a time when it had only 1 child, a second baby is born during the program, then for 2 children it will be allowed to take part in refinancing the loan at the same 6%. Terms - also 3 years. If the family has only 1 year left to repay the loan, then it will be able to use the benefit only during this period.
Families that, being parents of 1 child, will give birth to twins or triplets will benefit the most from the program. If in a family with one child, starting from January 1, 2018, twins or triplets are born, then lowering the rate to 6% by law is possible for a maximum of 8 years - 3 years for the second and 5 years for the third child, since 5 years of discounts begin to operate from after the end of the 3 year grace period.
Subsidizing and refinancing mortgages at 6% for a second child also applies to those childless parents who have had twins or triplets since January 1, 2018.
Who can get
The legislation does not provide for any additional requirements, except for those relating to the birth of children.
Requirements for borrowers are standard, they are indicated on the website of each particular bank. Usually this is the presence of permanent employment, a stable salary, the appropriate age of the borrower. In any case, your candidacy must first be approved by the bank, and then you can already count on participation in the program. Those for whom no bank approves a mortgage will not be able to use preferential terms, even if they give birth to a second or third child at the designated time.
To reduce the interest rate on a previously issued loan for the purchase of housing, you must contact your bank and provide a birth certificate for the second or third baby.
Mortgage lending at 6% per annum from the president is expected to increase the birth rate. However, the program has already caused dissatisfaction with those families who, by January 1, 2018, managed to become the parents of a second or third baby. Especially if they also currently have an outstanding mortgage loan.
An important addition: the program applies only to mortgages issued in the primary market starting from January 1, 2018.
How to apply for refinancing at 6%
Federal law makes it as easy as possible for borrowers to participate in the program. They simply submit an application and, in the event that the bank approves the candidate and the property, they receive a mortgage immediately at a reduced percentage. Further, the bank or AHML themselves apply to the state with an application to cover the difference in interest rates.
To refinance up to 6%, you need to contact the bank. The latter will reconsider the size of monthly payments, provided that the mortgage was issued for the purchase of housing in a new building (in the primary market). From the documents you will only need a birth certificate of the child (2nd or 3rd).
The algorithm of the borrower's actions is simple: the registration of a preferential mortgage is no different from the usual one. The only difference will be at a reduced interest rate. And the birth certificates of children will be added to the package of documents.
The answer to the question of how to refinance a mortgage if you have become the parents of a second or third child can be given at the bank. The procedure, most likely, will be to write an application and provide a supporting document.
On average, mortgages in 2018 will be provided at 9-11% per annum. So reducing the rate to 6% will allow the family to save a lot.
How to reduce the interest if the mortgage has already been taken?
As we wrote above, all issues are resolved through your bank. There is no need to contact social security, the MFC or somewhere else to confirm the benefits. Banks resolve this issue directly with the Ministry of Finance of the Russian Federation.
The procedure for refinancing a loan at the initiative of the president is much simpler than simply refinancing a previously received loan as such. The borrower does not have to confirm the amount of income, look for third-party banks with a better interest rate, re-register a mortgage and collect a package of documents. You will only need a passport, an application and a birth certificate as a document confirming the right to a benefit.
In any case, a mortgage at 6 percent is the most profitable option not only today, but also in the coming years. As economists say, the banks themselves will not come to such an indicator soon. And for families who could not decide on the birth of a second or third baby, a mortgage of 6 percent can be an additional incentive.
The new law on lowering the interest rate has already entered into force - the decree is valid from December 30, 2017. Accordingly, you can go to the bank with an application for refinancing a previously taken mortgage (but only one that was issued no earlier than January 1, 2018) from the moment you have the birth certificate of the second or third baby in your hands.
Clause 5. Subsidies are provided for loans (loans), the loan agreement (loan agreement) for which was concluded starting from January 1, 2018, from the date the loan (loan) was granted to citizens Russian Federation specified in paragraph 9 of these Rules"
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Acquisition of housing for a Russian family with an average income often becomes an unbearable burden, which is difficult to cope with even when taking a mortgage. The situation for those citizens who received a mortgage loan in foreign currency before the collapse of the ruble exchange rate looks sad at all.
For this reason, the state actively intervenes in the market mortgage lending seeking to support citizens in their efforts to acquire their own square meters housing.
To help people who have taken out a mortgage loan and are unable to repay, the state and the Agency for Housing Mortgage Lending have developed the Mortgage Loan Refinancing Act 2017, according to which the state provides a number of benefits to pay the loan by taking on part of the costs.
Consider the features and nuances of refinancing a mortgage with state support.
In April 2015, Decree of the Government of the Russian Federation No. 373 was adopted, which contained provisions new state program help with mortgage payments housing loan. AHML JSC took part in the project. During 2016 and 2017, the latter was transferred 4.5 billion rubles each with state support for at least 1.3 million borrowers.
Among the goals of the program were:
- Providing assistance to persons who have taken a mortgage loan and found themselves in a difficult financial situation;
- Repayment of losses and expenses to banking organizations during the restructuring of mortgage agreements.
Participation in the program is possible in two ways:
- Restructuring of the mortgage agreement in the same credit institution where it was taken. Produced by changing the terms of lending to more favorable for the borrower.
- Mortgage refinancing by concluding a new contract, which assumes the repayment of the previous one.
Benefit from mortgage refinancing under the state program
Refinancing a mortgage with the help of the state involves the conclusion of an agreement with the simultaneous presence of the following items:
- Replacement foreign currency loan for a loan in rubles. Recalculation is carried out at the exchange rate on the date when the refinancing agreement is concluded.
- The interest rate on the loan is set at a level not higher than 11.5%.
- The borrower's obligations to the bank are reduced due to state support. This is due to the repayment of a mortgage loan for 30% of the balance of the debt.
- Exemption from the penalty, which is accrued under the original mortgage agreement.
The program does not include:
- Reduced mortgage repayment period;
- Taking a commission for the refinancing process.
Thus, mortgage refinancing under the state program implies a number of benefits for the borrower, as a result of which the financial burden on him is reduced. While maintaining the terms of payments and repayment of part of the debt, the payment on the loan is reduced.
Requirements for the borrower and housing
To participate, you must meet a number of conditions:
- The borrower is a citizen of the Russian Federation who:
- Has one or more minor children or is their guardian;
- Disabled or has a disabled child;
- Combat veteran;
- Has a dependent person under the age of 24 who is a full-time student or graduate student.
- After paying the monthly mortgage installment, each member of the borrower's family accounts for no more than twice the amount living wage region of residence. This is determined by calculating income for the 3 months prior to filing.
There are certain requirements for housing that is in a mortgage:
- Location on the territory of the Russian Federation;
- Restrictions on living space depending on the number of rooms:
- Housing is the only property of the borrower.
Citizens who have issued a mortgage under an equity participation agreement are allowed to participate.
The last requirement for participation in the state program refers to the concluded mortgage agreement: it must have been concluded more than a year ago before the application was submitted. An exception is the case when the provided loan is issued for the full repayment of the debt.
If the borrower does not meet the above rules, but the difference is no more than 2 points, then he can count on participation. Its consideration will be taken over by a specialized commission.
Stages of refinancing
Restructuring is carried out at the request of the borrower. It includes the following items:
- Information about the borrower;
- Details of the concluded mortgage agreement;
- Reasons for receiving state support;
- Proposal of a way to facilitate the repayment of a loan;
- Prospects from improving credit conditions for the financial situation.
The completed application is submitted to the bank that provided the mortgage loan. Its consideration is not regulated by terms. A number of documents must be attached to the application:
- The passport;
- loan agreement;
- Certificate that the collateral real estate is the only one owned by the borrower;
- Help 2-NDFL;
- Proof of family income for 3 last months and documents confirming the payment of monthly mortgage installments on the same date;
- Statement of debt;
- A copy of the mortgage on the property.
As additional documents needed:
- Marriage certificate;
- Birth certificates of children;
- Military ID.
After reviewing the application, the bank can offer a number of options:
- Extended repayment period with reduced monthly payment. The downside is an increase in interest overpayments;
- Providing credit holidays(up to 2 years);
- Refinancing on more favorable terms, including in another financial institution;
- Change of currency credit to ruble.
Underwater rocks
When a troubled borrower applies for mortgage refinancing, it is likely that he will be refused by his banking organization. It is not profitable for the bank to change the terms of lending to its own detriment. In this situation, it is advisable to contact another organization. If it is possible to participate in the restructuring under the state program, one of the large banks that maintain contact with AHML, the main executor of the project, should be chosen. These are the following banks:
- Sberbank of Russia;
- VTB 24;
- Rosselkhozbank.
Data banking organizations take part in the state mortgage refinancing program and can offer more profitable contract, for which the debt in the previous bank will be closed and benefits from the state and profitable terms repayment.
Alternatives
You can close the debt to the bank by selling real estate taken on a mortgage and buying another, smaller and cheaper one. The difference in amounts will be sent to early repayment part of the loan, which will reduce the financial burden on the borrower. Similar services are offered by large real estate companies, but this way requires significant time and financial costs.
Submit an application
Submit your documents
Make a deal
Submit an application
Do estimation and for mortgages. Our employee will contact you, consult and make an appointment in one of the mortgage centers at a convenient time for you.
Submit your documents
Submit the loan documents along with the documents for the original loan and the acquired finished or under construction property to the Mortgage Center.
We will review your documents and make a decision. The term for making a decision can be up to 5 business days (up to 24 hours under the "Victory over Formalities" program).
Make a deal
After approval, you will need to contact the mortgage center to apply for a loan.
Interest rates and terms of mortgage refinancing
The program applies to the full repayment of loans from other banks issued for the purpose of acquiring:
- finished housing;
- new buildings, including those under construction, subject to the accreditation of the developer and the object under construction in VTB and the registration of the rights of claim to the property in the framework of 214-FZ.
- interest rate under the Mortgage. Refinancing” — from 8.8%;
- currency - Russian rubles;
- the loan amount can be no more than 90%*;
- loans issued 6 months ago and earlier are refinanced;
- loan term - up to 30 years (when considering an application for a loan based on 2 documents - up to 20 years);
- loan amount - up to 30 million rubles;
- no fees for loan processing;
- early repayment without restrictions and penalties;
- no commission for wire transfer funds to another bank.
Borrower:
- the presence of permanent registration in the region in which the client applies for a loan is optional;
- various forms of income confirmation are considered (certificates in the form of 2-NDFL and in the form of a bank);
- accounting for the total income of up to 4 co-borrowers is possible;
- it is possible to record income both at the main place of work and part-time.
* if the ratio of the loan amount to the cost of housing is more than 80%, the loan rate will increase by 0.7 percentage points.
Mortgage repayment
Pay off the loan in any way convenient for you:
- in
Registration is not required. Login by card number or UNK (unique client number).
UNK is indicated in the Application for the provision of comprehensive services - the document that you received when applying for a loan.
; - through the network of VTB ATMs throughout Russia;
- through the cash desk of any BTB branch Payment can be made not only by you, but also by any person at your request - you need your number loan agreement and the passport of the one who will pay;
- transfer from another bank;
- through the branches of the Russian Post.
You can always pay off your loan early. Partial or full repayment can be made without visiting the branch through.
For many citizens - the only way to purchase real estate. It would seem that everything is simple: a person chose a suitable housing, contacted the bank, collected documents, received money, and paid the seller. Everything - you can settle in an apartment.
In fact, the real difficulties lie ahead. Mortgage payments “eat up” a decent part of earnings. If for some reason incomes decrease, then the situation is unenviable. There are delays in payment, and together take off - calls from the bank, fines and the possibility of withdrawing an apartment for debts.
In case of any complications of the financial situation, it is better not to bring the matter to delays, but to refinance the mortgage loan.
Essence of a mortgage
The basis for the emergence of a mortgage is a pledge agreement real estate: mortgage acts as collateral for credit obligation borrower.
In fact, a mortgage loan is a target banking real estate loan.
Mortgage lending to the population is regulated federal law:
With registration of ownership of the apartment or Vacation home the bank imposes encumbrance through a mortgage. The circumstance is a guarantee of fulfillment of the borrower's obligations to pay loan payments for the entire term of the contract.
In accordance with paragraph 1 of Art. 1 of the Law "On Mortgage" the mortgagee (creditor in the case of mortgage loan) has the right to satisfy its claims under the obligation of the debtor (pledger) secured by the pledge at the expense of the value of the pledged property.
In fact, the owner receives the right to use, but it will not work to dispose of housing at his own discretion. Selling, exchanging, leasing and even redevelopment is permissible only with the permission of a credit institution.
The concept and essence of mortgage refinancing
Banks are not at all interested in “bad” loans on their balance sheet, therefore they are willing to meet borrowers for permission crisis situation. To alleviate the financial burden, the client is offered change the material terms of an existing mortgage loan.
In fact, the procedure conclusion of a new contract on more favorable terms for the borrower and the repayment at his expense of the existing debt obligation. This would be considered mortgage refinancing, sometimes referred to as refinancing.
In 2016, refinancing provides for three ways to change conditions:
- decline credit rate. The loan term remains the same, but the debtor's payment burden decreases. The total overpayment on the loan will also be less, in connection with which banks do not really welcome this option, since they lose profit.
- Extending the loan term. The loan amount remains unchanged, but the monthly principal payments are reduced. In rare cases, the rate remains the same. The percentage rises mainly due to the increase credit period. The monthly load is reduced slightly, but the client will pay the bank more in total;
- Changing the loan currency. Applies to mortgages issued in dollars or euros. It makes sense to “run” from currency to currency if the ruble rate depreciates in the future.
Where to apply for mortgage refinancing: existing options
Initially, you should find out whether it is possible to refinance the loan in "your" bank.
However, not all credit organizations offer on-lending.
Then possible ways to refinance:
- with the help of AHML;
- with state support.
Bank on-lending
If the bank where the mortgage was issued refused to refinance, you need to contact credit organization allowing refinancing.
Many largest banks interested in increasing the number of customers and increasing long-term profits:
- . The bank carefully checks the solvency of the client. Interest rates one of the most profitable, but the conditions for on-lending are tough;
- VTB 24. For "salary" clients, the conditions are most favorable. The bank does not refinance loans received in institutions VTB systems. With a debt amount of less than 500 thousand rubles, an application can be made through the website;
- Alfa Bank. It is easier to get approval than in other banks, since it specializes in mortgages in refinancing;
- Rosbank. Offers a variety of mortgage refinancing options. The conditions of the proposed program depend on the category to which the applicant belongs according to the internal gradation.
When applying to a third-party bank, the refinancing procedure will be identical to the initial registration of a mortgage. The collateral will be transferred to a new creditor. If the third-party bank "gives the go-ahead", the consent of the original lender is not required. It is enough just to notify him of your decision. There is no need to preliminarily cancel the first contract: it is canceled after full payment with the money received under the refinancing program from the new lender.
AHML - housing mortgage lending agencies
AHML is a state financial structure.
The main activity is aimed at housing lending, including on mortgage terms, to socially unprotected groups of the population.
Until 2015, the agency offered its own mortgage refinancing programs. Currently, the structure has entered into an agreement with the leading Russian banks on on-lending to citizens within the framework of the “Program for Assistance to Mortgage Borrowers in Difficult Financial Situations” of the Government of the Russian Federation dated April 20, 2015.
Support is offered to borrowers belonging to the following categories:
- Citizens with one or more minor dependents;
- War veterans;
- Disabled people of all categories or educators.
State assistance in mortgage refinancing
State aid is more correctly called restructuring of mortgage loans. The project is carried out jointly with the Agency for Housing Mortgage Lending. Borrowers of both ruble and foreign currency loans can use the help. In the latter case, in order to receive benefits, the loan is converted into the ruble equivalent at the current exchange rate of the Central Bank.
Possible concessions:
- Deferred payments for 18 months;
- Reducing the lending rate to 12%: "minus" the bank will restore the state;
- Reducing the amount of the principal debt by 600 thousand rubles. It is forbidden to use for the repayment of interest and penalties.
Federal restructuring is granted only to certain categories of citizens. At the same time, housing must be the only one in the family, and the decrease in income should be at least 30% of the original when obtaining a mortgage.
Borrower requirements and conditions
Each bank offers its own conditions for refinancing loans. They can be found on the official websites of institutions or at bank offices.
But requirements for borrowers on mortgage refinancing similar:
- Russian citizenship;
- Registration in the region where the bank branch is located;
- Age 21-65 years (Sberbank - up to 71 years);
- Official employment for at least one year;
- Monthly income exceeding the loan payment by at least 2 times;
- A problem loan must be valid for at least a year;
- Positive credit history.
Financial discipline of the borrower is the main condition for a positive decision of the bank. Delays on active mortgage should not be within last year use of credit.
Documents for registration
For refinancing need:
- A complete package of documents for a valid mortgage loan;
- Confirmation of the amount of income and its source in the form 2-NDFL;
- Documentation for collateral;
- Questionnaire of the borrower in the form of a bank;
- Application for refinancing;
- Passport of a citizen of the Russian Federation.
The credit institution has the right to demand other securities, depending on the conditions of the proposed program.
General order
The potential benefits of rescheduling a home loan will become a reality if the borrower successfully navigates the thorny preparatory steps:
The state registration of a mortgage for the transfer of ownership of property in accordance with the norms of Chapters IV and VI of the Law "On Mortgage".
Advantages and disadvantages
Main advantages of on-lending associated, of course, with the correction of a difficult financial situation:
- You can choose a mortgage with more favorable terms;
- The insurance contract does not need to be re-executed, since the collateral object remains the same;
- The payment schedule is adjusted taking into account the client's capabilities;
- Decreases in size monthly payment, annual rate on credit;
- It is possible to do without current delays.
Refinancing has its "dark" sides:
- Not allowed tax deduction on the interest on the loan;
- You will have to spend time searching for a suitable program and collecting documents;
- Most likely, the procedure will be paid;
- Difficulties with transmission mortgage apartment selected bank;
- Refinancing is beneficial in terms of reducing the cost of the entire loan only if the rate is reduced by 1.5-2%.
The specifics of the on-lending procedure are described in the following video material:
