Why do you need a mortgage? Mortgage for an apartment: what is it and how to get it

According to the law, a mortgage is accompanied by the preparation of a whole package of documentation. This includes registration of a mortgage with Sberbank after the delivery of the house and when purchasing finished housing.

Real estate as collateral: how to properly draw up the document

Mortgage loans are issued against real estate. To secure a loan, you can provide the bank with an apartment (either existing or purchased), a house, land plots, garages, or country houses. secured by existing real estate can be found here. The document used to issue this type of guarantee is called a mortgage note, which is filled out by the mortgagor and stored in Sberbank until the loan is fully repaid.

What is a mortgage on an apartment with a mortgage in Sberbank in simple words: this is a document pledging the acquired residential property in favor of the bank.

According to the law, a mortgage on an apartment under a mortgage from Sberbank or another credit institution is a security that can also act as collateral. Sberbank has the right to transfer this security to another financial institution as security for the financial resources it has taken. The financial and credit organization is obliged to inform the client about the transfer of mortgage collateral: by personal letter or by posting information on its website. If you refuse to repay the loan in full, the mortgaged apartment will become the property not of the primary bank from which the loan was taken, but of the bank that holds the mortgage.

Transferring the guarantee to another bank does not change anything for the mortgagor: the monthly repayment amount, mortgage terms, and bank branch details remain the same.

Registration of a mortgage with Sberbank is a responsible process that requires attention. You should check all the points and carefully check your personal data. The form includes:

• information about the pledgor: last name, first name, patronymic;
• series, passport number, where and when issued;
• information about the debtor;
• if the apartment is in shared ownership - information about other owners;
• information about the bank - the original mortgagee: name, location, license number, date of issue, legal entity that issued the license;
• information about the mortgage agreement: number, date, place of conclusion;
• loan amount in rubles;
• return period in months;
• the amount of interest on the loan;
• the balance of the loan amount at the time of signing the mortgage;
• information about the subject of the mortgage: address, number of rooms, floor;
• information about the encumbrance;
• estimated value of the collateral;
• date, registration number of ownership of the apartment;
• mortgage registration information;
• when transferring a mortgage - information about its new owner, date of transfer, details of the agreement.

Once completed and signed by the parties, the mortgage is registered with the territorial body Rosreestr. Registration services are paid by the debtor, unless otherwise provided by the mortgage agreement.

The mortgage note is drawn up in a single copy, so the borrower is recommended to make a copy of it, put down the registration number and keep it until the mortgage is paid in full. If it is transferred to another financial institution or lost, it will be much easier to restore it.

Real estate valuation and other information about collateral

To obtain mortgage collateral, the borrower must provide a number of documents confirming his ownership of the apartment and its estimated value. For a mortgage with Sberbank, the following documents are required:

• passport of the mortgagor and other apartment owners;
• original extract from the Unified State Register;
• certificate of registration of ownership rights to the borrower;
• contract of sale, gift, exchange, deed of gift;
• document on the estimated value of the property;
• technical passport for the mortgaged property;
• notarized consent of the spouse to pledge the housing;
• original permission from the guardianship authorities to pledge the apartment if one of the owners is a child.

If, according to the marriage contract, the exclusive right of ownership of the home belongs to only one of the spouses, the original marriage contract must be presented to the bank.

The document on the assessment of mortgaged housing must necessarily contain information about the subject of the assessment: technical plan of the apartment, type of repair, condition, degree of wear. The calculation of the market value of real estate is influenced by the presence of social infrastructure in the area of ​​location, convenience of transport links, social significance, etc. The accompanying note must include photographs of the object.

In an apartment transferred as security for a mortgage, the debtor does not have the right to make redevelopment without notifying the creditor.

When and how to apply for a mortgage with Sberbank after the house is delivered

When a mortgage is issued with a Sberbank mortgage, it depends on the moment of transfer of ownership of the object to the buyer. Registration of a mortgage by force of law, that is, when purchasing real estate using borrowed funds, is carried out simultaneously with the registration of ownership. Accordingly, in the case of a new building, the document will be prepared by Sberbank employees after the house is not only built, but accepted by the state commission and the future owner.

The final step in formalizing the completion of construction is the signing of the transfer and acceptance certificate. After this document has been endorsed, you can prepare the documentation necessary for state registration, including the mortgage note.

This procedure can be completed at Rosreestr or at one of the MFCs. Future owners can provide documents:

• personally;
• through a notary;
• through Sberbank, but only if the object is not acquired as shared ownership, but, for example, as joint ownership, but there will be no more than two owners, and the transaction is carried out by the parties personally, without the involvement of other participants acting by proxy;
• with an appeal to the developer’s representatives, when the documentation for all objects is submitted for registration at the same time. This is usually a lengthy procedure.

The first option is the most budget-friendly, however, the presence of an authorized person from the construction company during state registration is still desirable. All other options involve paying the contractor a commission income.

The mortgage manager usually tells you what to do in a specific situation. He will also explain how to obtain a mortgage from Sberbank to register property rights. Typically, the bank draws up this document using its specialists based on documentation provided by clients. The list of required documents is similar to that described for the case of purchasing a finished home, but instead of a purchase and sale agreement for an apartment, an equity participation agreement is provided.

Where is the Sberbank mortgage note kept: the first copy will remain with Sberbank, and the second copy will be transferred for storage to Rosreestr upon registration of ownership and mortgage.

Mortgage on an apartment under a Sberbank mortgage after repaying the debt

Repaying a mortgage is a significant moment, but relations with Sberbank and the registration authorities do not end there. When the debt has been reset, you need to contact the bank with an application for a mortgage. The lender's response time to an appeal is 14-30 days. You will be informed by telephone that it is possible to receive the document.

It is important to check the mortgage for a mark indicating that the borrower’s obligations have been fulfilled in full, and Sberbank has no claims against it. This information is certified by the signatures of authorized representatives of the bank and its seal.

Then you need to contact Rosreestr. This is where the change takes place:

• equity participation agreements;
• certificates of ownership or an extended extract from the Unified State Register, if the transaction was executed after 01/01/2017;
• mortgage

Registration will take some time. Result of the action: the owner of the home will be provided with a share participation agreement, on the reverse side of which they will put a stamp certifying the fact of removal of the mortgage, as well as a new extended extract from the Unified State Register, where there will be a dash in the “Encumbrances” line, which means that the housing can now be freely disposed of.

If for one reason or another the mortgage was lost, you can issue a duplicate mortgage at Sberbank.

In this case, you need to carefully ensure that the new version exactly matches the original one. To do this, it is advisable to make a photocopy of it upon receipt of the original mortgage at the stage of transferring documents for registration of property rights to Rosreestr.

Today, a person who wants to possess any material benefit can apply for a loan from a credit institution. If you don’t want or have the opportunity to postpone the purchase for a while, you can make a purchase without the required amount of cash. For example, you can purchase an apartment or house with a starting amount, and “finish off” the rest with a loan. A mortgage on an apartment can act as a guarantee for the return of funds. What is it, samples of mortgages for well-known banks and all about the procedure for obtaining, read on.

In Russia, such a document as a mortgage is not very widespread. Accordingly, people know little about the nuances of paper composition, its purpose and functions.

It is difficult to consider a mortgage with certainty. Its character is associated with the point of view of the subjects of civil relations that arise when receiving a housing loan. A mortgage may be associated with transactions of such pairs as “bank – bank” or “bank – private person” when concluding a corresponding agreement.

First of all, a mortgage is a guarantee that the interests of the credit institution will be respected. In other words, the document will help the bank satisfy the needs and claims regarding housing for which the buyer is no longer able to pay. Today, Russian banks do not always require a mortgage as part of the package of documents required to obtain a mortgage. In Europe, this practice is ubiquitous, so we should expect that the trend will soon take hold in our country.

Mortgage is the longest-term type of loan; sometimes people spend several decades to pay off a financial institution. Over such a long period of time, anything can happen, so any company wants to reduce and minimize risks when issuing a mortgage loan.

Video - Mortgage: what is it, what is it for?

How is a mortgage issued for an apartment?

The procedure for registering a mortgage paper occurs simultaneously with the drawing up of a mortgage agreement and the affixing of signatures to it by both parties involved in the transaction. You must understand that if controversial issues arise, it is the mortgage paper and the information contained in it that will have priority over the loan agreement. Therefore, it is necessary to conduct a total reconciliation of all data so that there are no contradictions in the documents. The bank client should not put his signature on the paper until he is sure that both documents contain exactly the same information.

The mortgage is registered in the Rosreestr branch at the buyer’s place of residence, where it is transferred along with the rest of the documents for obtaining housing on credit. Government agency specialists must assign the mortgage the appropriate number and also indicate the following data:

1. Date of issue of mortgage paper.
2. Place of registration of the mortgage loan.
3. The name of the institution that performed the registration action to encumber the title with a mortgage.

According to the rule, the mortgage document exists in the singular, without a second original-duplicate. It is not handed over to the borrower and remains with the bank representative. However, it is not forbidden to make a couple of copies from the document in order to have them on hand in case the main paper is lost or other unclear points.

What information is included in the mortgage?

In addition to detailed information about the mortgaged property, the following information is entered into the mortgage document:

1. If the borrower is an individual - his passport data, if a legal entity - the details of the organization.
2. The number of the mortgage agreement, the time and place at which it was concluded.
3. The conditions on which lending is based, the amount of funds received by the borrower and interest due to the financial institution.
4. Documents confirming that the borrower has the right to dispose of the property pledged to the credit institution.
5. The time period within which the borrower agrees to repay the borrowed funds in full.

It turns out that in addition to the documents necessary to obtain a mortgage, the borrower must provide only one unique document that records his ownership of the property pledged against the mortgage. It will not be a problem for any owner of real estate or land to present the required document.

Sample mortgage note for an apartment

The execution of a mortgage document has some mandatory rules. The paper can be filled out by hand or printed on a printer, but signatures and seals must be original. A standard mortgage includes several items.

Table 1. Classic rules by which a mortgage is drawn up

Mortgage for an apartment: samples for Sberbank and VTB

For many Russians, drawing up a mortgage is a very sensitive moment, which is why they prefer banks with a long history, such as VTB or Sberbank. Such giants operate with their own financial flows and rarely require mortgages; this is usually done by small financial institutions.

However, clients themselves strive for large players in the financing market, since these organizations extremely rarely resell the mortgages of their borrowers, and incidents with loss of documents practically do not occur. However, large banks set their own rules for filling out mortgage paper.

The sample mortgage note for Sberbank is not too different from the classic paper format. It includes the same points:

1. Information about the debtor and creditor.
2. The subject of the mortgage agreement and all its nuances (terms, amount, interest, loan repayment options).
3. Collateral property (type of object, its characteristics, cadastral number, results of an independent assessment and data on state registration of rights).
4. Signatures of the parties, seals, details.

The sample mortgage note for VTB contains exactly the same points. On the bank's official website you can see a sample of filling out a mortgage document and familiarize yourself with it in advance. In particular, you can study the items marked with asterisks.

Sale of mortgage

We mentioned above that the bank has every right to sell its client’s mortgage to another financial institution. This usually happens when a financial institution needs to receive additional investment or wants to get rid of a large volume of collateral documents. The borrower in such a situation should not be afraid - the circumstances of the mortgage do not change for him, he does not need to contribute any additional money. Most often, from the moment the document is resold, payment details change - you need to be more careful with subsequent payments. It is worth understanding that according to the law, the bank has the right not to ask a person’s permission to sell his mortgage, but only has the obligation to notify about the transaction.

The bank has the right to sell its client’s mortgage to another organization

Changes cannot be made to the mortgage document without the participation of the borrower. Only the presence and consent of both parties is a condition for changing any aspects. Therefore, when reselling a mortgage, the bank always notifies its debtor. At the same moment, the borrower has the right to clarify for what amount the mortgage on his property was sold.

It is important to understand that the mortgage paper is drawn up in the presence of both interested parties and a representative of the government agency. All changes made after the date of registration are considered invalid. That is why it is important to make a copy of the original document so that it does not turn out that the mortgage has been sold, the payment details have changed, and the debtor continues to transfer payments to the old address.

How to return the mortgage?

When the mortgage debt and all interest have been repaid, the client can contact a financial institution. It doesn’t matter whether the obligations are repaid on time or ahead of schedule. Yesterday's borrower must have with him a passport and a document confirming his right to own the collateral real estate.

Within a month (in fact, the procedure is much faster), the banking organization issues the following documents:

1. Original mortgage document.
2. Documentary assurance that the client has received the mortgage in hand (made in two copies, one remains with the bank representative).
3. A letter certified by a credit institution certifying that the debtor has fulfilled his obligations to the fullest extent.
4. Power of attorney from a financial institution to transfer a package of documents to state registration authorities.

After a person has submitted documents to Rosreestr and has become the full owner of the apartment for which he has paid off the mortgage, within three days the bank must also issue a certificate indicating the fact of the record of repayment of the housing loan.

What to do if the bank does not issue a mortgage on the apartment?

The borrower, whose mortgage transaction included a mortgage, should know that when fulfilling his obligations, it is necessary to receive this document in hand. If for some reason the bank does not issue the paper (citing loss or damage), you cannot just leave the situation like that.

The borrower can do this in three ways:

1. With the support of a lawyer, draw up a new mortgage, in which data absolutely similar to the first document will be entered, but the paper will have the inscription “Duplicate”.
2. Contact the Central Bank with a statement, Attach a copy of the mortgage and tell about the current situation.
3. Go to court. All nuances will be considered in court, and if it turns out that the borrower has actually paid the entire loan amount, the encumbrance on his property will be removed by the court.

It should be noted that for the deliberate concealment of a mortgage document, a banking organization faces serious sanctions, so in most cases the loss of a document does occur, and the bank is willing to re-draw up the paper.

Going to court will help solve the problem

Summarizing

The mortgage document for a mortgaged apartment is an important document that gives the credit institution the right to dispose of the pledged property if the borrower ignores the need to fulfill his obligations. In simple words, when a person who has taken out a mortgage refuses to pay, the property specified in the collateral document is transferred to the bank’s disposal, acting as a “security parachute.”

For the borrower, signing a mortgage is a kind of transfer of rights to his property. Therefore, having become a party to a mortgage agreement with the participation of a mortgage document, you should be careful and careful from beginning to end - from the moment of execution of documents to the date of making the last payment.

The nature of human needs is such that their satisfaction often cannot be postponed until the future, when the available cash will make it possible to make the desired purchase. The desire to become the owner of a particular object, for example, an apartment or a private house, is justified by the real needs of the current moment, the satisfaction of which determines a person’s level of satisfaction with life.

You can purchase a home immediately, having at least part of the amount and using one of the loan products of numerous financial institutions, and in this case, a mortgage on the apartment will be a guarantee of the return of funds to the bank.

What is the essence of a mortgage

The answer to the question of what a mortgage is depends on the point of view of the subject of the civil relations that arise when obtaining a loan for the purchase of residential real estate.

Guarantee of banking interests

For a financial institution that has provided a client with money to purchase housing that he needs based on his personal needs or family composition, the pledge of this real estate is a guarantor of the return of funds, which can be done in several ways. Moreover, reimbursement of funds issued to the borrower can be made by the bank at any stage of the mortgage life cycle, and the only limitation is the full repayment of the loan or special terms of the agreement. Options for the financial structure to exercise the rights received after the mortgage is completed are:

• partial assignment of rights;
• sale of collateral to another bank or credit institution;
• exchange of collateral objects with mutual additional payment.

All of these operations can be performed between different financial institutions, or between a bank and an individual, by concluding an appropriate agreement between the parties.

Partial sale of collateral

Such an interbank transaction is concluded when the pledgee needs to short-term attract a small amount of cash intended for current operating activities. The partial assignment procedure involves transferring a portion of the borrower's monthly payments to a third party who has purchased part of the collateral, which may last for a limited time or for the entire term of the mortgage loan.

For the payer, the debt repayment procedure does not change, since the same bank remains the respondent recipient of monthly contributions, so notifying the client about such transactions is not practiced.

Complete assignment of rights

The way for the bank to receive its funds in full is sale of rights to a mortgage to another financial institution. The result of such a transaction is a change in the current account to which the payer’s loan funds are transferred, of which he is notified by mail and directly at the bank’s office. The terms of the loan do not change, since they are clearly stated not only in the agreement between the borrower and the lender, but also in the mortgage.

Exchange of mortgages

Such an interbank transaction is a type of complete assignment of rights, differing only in the presence of an additional payment between the parties to the agreement, which is intended to compensate for the difference in the collateral value of the real estate.

In case of prolonged non-payment of the loan, the duration of which is regulated by the mortgage agreement, and the borrower is not interested in finding a compromise in the form of debt restructuring, the owner of the mortgage has the right to sell the collateral, reimburse his costs, including interest at the time of debt repayment, and return the remainder to the client.

Confirmation of property rights

For a borrower who has taken out a loan to purchase a home without other guarantees for a financial institution, registration of a mortgage with the Registration Chamber is a confirmation of his property rights to a property, the ownership of which is limited to use, without the possibility of sale, exchange or gift.

When a bank assigns a mortgage to another financial institution, there are no other documents between the borrower and the lender, and all the conditions specified in the form drawn up at the conclusion of the agreement are the legal claims of the new mortgagee to its debtor.

Registration of a mortgage

Collateral in the form of movable or immovable property is a guarantee against which most banks are ready to issue a loan, and in its absence, the object of purchase itself becomes collateral.

The accuracy of the display of the terms of the agreement and the details of the homeowner in the mortgage form is a guarantee of compliance with his rights, and incorrectly specified information acquires the force of legal requirements on the part of the financial institution.

Registration of a mortgage guarantees that any changes to the documents will be unacceptable, and the corrected form is declared invalid.

The structure of the form and its design may differ in different financial institutions, while maintaining the necessary content of the document. For example, a mortgage for an apartment under a Sberbank mortgage, a sample of which can be found on its official information resource or obtained from the nearest office, includes the following items:

• information about the entity that provided the collateral, including personal and passport data of a private person and full details of a legal entity;
• information about the holder of the pledge who received it from the pledgor, including the name, information about the license and the issuing authority, as well as detailed location of the subject;
• a description of the mortgaged or other real estate being pledged, allowing it to be unambiguously identified and including a description of the location, characteristics and details of the title document, as well as the presence of encumbrances on the part of persons who are not parties to the transaction;
• the estimated value in the currency of the loan and the details of the person who performed the examination;
• lending conditions, including the amount of borrowed funds, interest rate, frequency of payments, amount of contributions and deadline for debt repayment;
• information about the date of preparation of the document and its number.

You can find out what a mortgage looks like when you contact a bank or on the information resource of a financial organization; the structure of the document, regardless of whether it was chosen by Sberbank, VTB 24 or Rosbank, will be comparable, as it is regulated by Federal Law No. 102 “On Mortgages” .

Registration of pledge

Mortgage agreement, documents for the apartment and mortgage on it transferred to Rosreestr, when making a purchase and sale, to register a real estate transaction and the ownership rights of the subjects of contracts, including mortgages. The territorial registration authority makes the necessary marks and assigns a mortgage number, which also indicates:

• name of the body that performed the actions to register the encumbrance of property rights;
• place of registration of the mortgage;
• the date the mortgage note is issued to the mortgagee's representative.

After registration, the mortgagor receives a certificate of ownership with a note about existing encumbrances, to remove which it is necessary to fulfill obligations to the bank.

Mortgage registration services are paid and must be paid by the borrower, unless otherwise provided by the purchase and sale agreement, and the state duty for entering data into the Rosreestr on mortgages, as of the beginning of 2106, will cost:

• private person 1 thousand rubles;
• organizations – 4 thousand rubles.

Design features

The mortgage is a document necessary for the bank to exercise its material rights, therefore it is drawn up in a single copy and is not issued to the mortgage borrower. In the event of a loss or a controversial situation, it will be useful to have a copy of the document on hand, which allows you to judge the legality of the pledgee’s claims and the correctness of the execution of the duplicate.

When registering a relationship with a bank, you should carefully read the mortgage and compare the information provided with what is reflected in the mortgage agreement.

Loss of mortgage

During interbank manipulations with a mortgage and/or during its storage in a financial institution, a situation cannot be excluded when documents are lost or lose their appearance suitable for perception and circulation. In this case, it is necessary to issue a duplicate, which must be made similarly to the original and contain the same information, as well as have the appropriate mark.

Requirements for the provision of a mortgage and the execution of a duplicate in the event of its loss arise from the borrower when fulfilling obligations and the need to remove encumbrances. If a financial institution does not want to issue documents to remove the encumbrance, a written application is written addressed to the head of the bank branch, and if this is not enough, then the issue must be resolved in court. Before going to court, it will be useful to send a complaint about the work of a financial organization to the Central Bank, whose intervention is able to resolve conflicts of interest.

The bank's demand to the mortgagor to re-pay the fee for restoring a mortgage lost through no fault of his is unreasonable and cannot be satisfied, and indicating a refusal as a reason for issuing a duplicate can be appealed to the justice authorities.

If it is necessary to go to court in the event of loss of the mortgage, it makes sense to apply for the removal of the encumbrance, and not to restore the document confirming the mortgage. In this case, a positive decision of the justice body will allow you to get rid of restrictions on rights directly, bypassing additional procedures, since the court decision is mandatory for execution by Rosreestr.

A mortgage on an apartment, especially if it is the only property and place of residence, is a very important document that gives its owner the rights specified by Russian laws to dispose of the property if the borrower fails to fulfill loan obligations. That is why you should be careful when drawing up the document and obligatory when paying off mortgage debt, so as not to lose your property and not be left on the street.

Video: What is a mortgage and why is it needed?

Good afternoon, Nadezhda! After signing the document, it is necessary to proceed to the stage of registration of ownership of housing, so you need to know what to do after receiving the keys in a new building. Initially, it is necessary to obtain a cadastral passport for real estate. Since recently, the housing of each shareholder has been placed on the cadastre by the developer themselves, which happens immediately upon registration of the entire construction project. In this regard, in most cases, the shareholder does not have to deal with issues of registering housing with the cadastral register.

If the construction organization does not carry out cadastral registration, then the shareholder has the right to go through this procedure independently. To obtain the document on your own, you will need to contact the BTI and submit the following documents:

• identification;
• share participation agreement;
• act of acceptance of real estate.

On average, a cadastral plan is prepared within a month. Next, you need to contact the registration authority, having previously collected the required package of documents. The sequence of actions after signing the act of acceptance and transfer of an apartment under a mortgage to register ownership is as follows:

• clarification of the territorial location of the registration authority to which you need to apply;
• collecting the necessary documents and receiving, if necessary, consultation from government agency employees;
• payment of duty;
• submission of documents for registration of property rights;
• obtaining a certificate.

In some cases, it is possible to suspend registration, which often happens when it is necessary to provide additional documents. In this case, a notification about the suspension of the procedure is sent to the individual’s contact number, which must be carefully studied and the necessary adjustments made.

To complete the registration procedure, you must provide the following list of documents:

• agreement on the purchase of residential real estate;
• identification;
• application in the prescribed form;
• deed of transfer;
• plan of a residential property;
• receipt of payment of state duty;
• permission from guardianship authorities in the presence of minor children.

Documentation is provided in 2 copies. In this case, the following requirements apply to registration:

• No blots or corrections are allowed;
• notes are made with a regular pen;
• handwriting must be legible.

The package of required documents is stitched and numbered, a sequential number is placed on each page and the organization’s seal is affixed. The developer is obliged to provide the registration authority with a transfer deed for residential real estate, copies of papers on the commissioning of the property with the results of acceptance by the state commission, an investment agreement and acts on its proper execution.

The average processing time for documents at the registration authority is 1 month. During this time, the organization’s specialists conduct a thorough check of all documents. When registering an apartment in a new building, the registration period may be longer. In most cases, an increase in the duration of consideration occurs when there are conflicts between developers and real estate buyers. In any case, we wish you speedy registration and moving into the apartment!

Housing is a rather hot topic, especially recently, when its affordability becomes a dream for most citizens. Many, in order to become the owner of the treasured square meters, have to take out loans from the bank.

However, as a rule, not every bank client, namely mortgage clients, can offer a guarantor for this type of loan. In view of this, in order to protect itself, the bank offers to provide collateral in the form of official documents. That is, to provide a mortgage note.

What is a mortgage?

The population growth is growing, both on a national scale and on the planet as a whole. Accordingly, the need to have a roof over one’s head becomes a necessity for every individual. Often, families huddle for years in a small living space, with no prospect of leaving.

This leads to many everyday problems, family quarrels and other things.

Not everyone decides to resolve the issue radically or in a civilized manner. The solution lies in a fairly simple act - signing a mortgage. Of course, in order to take it, you must be able to pay it off. However, this is the only option that will allow you to receive money for the purchase of housing relatively free of charge.

A mortgage loan is intended for the purchase of a specific type of housing. The money provided by the bank for this type of lending cannot be spent at your discretion on other needs, as soon as you pay for the purchase of an apartment, industrial premises, store, or other facility.

Moreover, if there is no guarantor, the loan object itself acts as collateral, that is, reinforcement of the loan. You can provide another type of reinforcement, such as a car, a yacht, a piece of land, etc.

To obtain a mortgage, you must meet certain conditions, namely:

1. Provide a down payment of at least 20% of the cost of the property to be purchased.
2. The official source of income must be twice the monthly payment.
3. A mortgage loan is issued only for an apartment.
4. All family members must be officially employed.
5. The advantage is the availability of other real estate.
6. No debt on any obligations.
7. No guarantee.
8. Work experience of at least 3 years.
9. Providing guarantors.

It should be noted that a mortgage is not always an unbearable burden “around the neck,” as can be heard from numerous reviews. If you take lending seriously from the very beginning, namely, follow the recommendations, then this type of loan will become a solution to your housing problem.

1. It is necessary to contact trusted banks with a good reputation.
2. Carefully study the terms of the mortgage agreement, especially pay close attention to the interest rate, which affects the level of overpayment for this type of loan.
3. Alternatively, you need to contact several banks to consider all possible lending programs.
4. It is important to know and understand such concepts as “advance”, “deposit”

What is a mortgage?

Statistical observations show that mortgages are becoming more and more popular every year. Those who have decided to take out a loan to purchase a home are familiar with the term “mortgage”. It denotes a security capable of giving the owner the right of appropriation of the property that secures the mortgage. That is, if the terms of the agreement are not observed and there is no receipt of the loan, the bank has the right to confirm its claims to the collateral.

Since a mortgage is a long-term event, the bank will need money that it can, if necessary, resell to another bank, which will become the mortgagee.

It is he who will become the recipient of income in percentage terms, depending on the receipt of loan payments from the borrower. In this case, the agreement with the borrower does not change.

An interesting fact is that the borrower does not have any power to influence the transfer of the mortgage. The bank simply notifies the client about the transfer of documents.

Mortgage, especially in European countries, has become an integral attribute of loans for the purchase of housing.

Why do you need a mortgage?

The need for a mortgage is due to the bank’s need to be sure that the funds issued for the purchase of real estate will be returned by the borrower in accordance with the agreement between them. Since a mortgage loan is issued for a period of up to 25-30 years, various types of changes may occur during this time. To prevent evasion of payment of its obligations, the bank has the right to insure its interests by issuing a mortgage with the client, which can level out the risks.

A mortgage is a way to increase confidence in the borrower, especially if he has a low income and no guarantors.

The collateral can be:

It is very important that the mortgage is a high value property and that its value is significantly greater than the cost of the loan.

Requirements for registration of a mortgage

According to the established requirements, the mortgage must be issued in accordance with the law, namely: