Mortgages have become one of the types of loans with which you can purchase your own housing. Today, almost all financial institutions offer to issue a mortgage on the most favorable terms, and operations such as refinancing mortgages have also become widespread. Gazprombank, among others, offers optimal clearance conditions and simplified requirements for borrowers.
Basic concepts
Before considering refinancing a mortgage at Gazprombank, we will analyze the basic concepts.
A mortgage is considered to be a form of pledge where the debtor uses the pledged property, and in case of failure to fulfill obligations to the creditor, this property can be sold to repay the debt.
Refinancing is the complete or partial closure of a loan by obtaining a new loan. This program can be applied in case of changing market conditions, as well as a decrease in the solvency of the debtor.
The best option is to refinance a mortgage at Gazprombank. Reviews about it for the most part are only positive, many borrowers are satisfied with the terms of loans and bank servicing.
Conditions
Gazprombank carries out refinancing of a mortgage on the following conditions:
- Mortgages are available for 30 years or more.
- The pledge is directly the real estate itself.
- A loan under the program is issued in the amount of 600 thousand rubles. up to 45 million rubles.
- The interest rate on refinancing is 12-13%.
- The loan rate can go up to 1% if the borrower has personal insurance.
- An application for refinancing a mortgage is considered 7-10 days.
- Perhaps early repayment of the mortgage without imposing fines and penalties.
- Monthly payments may be paid in excess of the established minimum required payment.
- Refinancing can be issued not only in ruble equivalent, but also in a different currency.
Insurance
Like any other long-term loans, Gazprombank is obliged to insure mortgage refinancing. Separate mandatory and voluntary insurance.
The following risks are included in compulsory insurance:
- Causing damage or loss of real estate.
- Termination of ownership of collateral for a period of at least one year (but if the negotiated property has been with the borrower for more than three years, this type of insurance does not apply).
Voluntary insurance includes the following:
- The death of the borrower or his loss of performance.
- Accident.
- Property insurance.
Decor
Despite the instability in the economic sphere, refinancing of the Gazprombank mortgage operates without global changes.
The refinancing process has the following stages:
- Writing an application at any convenient office of Gazprombank.
- Collection and provision of documents.
- Obtaining permission from the bank where the mortgage was originally issued for refinancing.
- Drawing up and signing a contract.
- Transfer of funds to the bank account of the borrower.
- Loan repayment at the bank where the mortgage was issued.
- Release of real estate from collateral.
- Conclusion of a pledge agreement with Gazprombank.
There is an option that you will need to provide guarantors or other property to Gazprombank. Refinancing mortgages of other banks to individuals in this case is provided on more favorable terms. In other words, the borrower has a greater chance of getting funds to pay off the mortgage at another bank.
Documents
Gazprombank, however, like other banks, requires a standard set of documents. First of all, you need to write an application for refinancing, agree to the processing of data and to request a credit history.
The application must contain the following data:
- Full details of the borrower.
- Address and telephone numbers of the applicant.
- The amount of the loan required to repay the mortgage.
- Crediting period.
- Data on collateral.
Along with the application are presented:
- identity document;
- certificate 2-NDFL, confirming the solvency of the borrower;
- copy of the work book;
- documents for real estate: certificate confirming the right of ownership, the basis of the right to obtain property;
- loan agreement concluded with the original lender;
- certificate of credit debt.
Additional documents include:
- obtaining the written consent of the first lender to refinance the mortgage;
- providing additional collateral or guarantor;
- the borrower may submit documents confirming additional income; for example, if it is renting out a premises, then you need to submit a lease.
In addition to the above, the bank may request the following documents:
- individual tax number;
- SNILS;
- education documents;
- documents confirming marital status;
- birth certificate of a child or a passport of a child if he is already 14 years old;
- death certificates of parents, children, spouse (if any);
- documents that can confirm the presence of movable or immovable property.
Borrower Requirements
"Gazprombank" refinancing mortgages of other banks does not provide everyone. For borrowers who want to solve their credit problems, the bank has a number of requirements. This includes:
- the presence of Russian citizenship;
- permanent residence in the lending region;
- a positive credit history, the absence of delinquencies at the time of refinancing;
- Gazprombank provides mortgage refinancing to individuals at least 20 years old and no older than 55 years for women and 60 years for men;
- having a regular income and staying at the last place of work for at least six months.
A person’s income should provide him with the opportunity to pay monthly payments on time. In case of delays or improper performance of obligations to the bank, fines and penalties may be imposed on the borrower.
If the borrower provides an additional collateral in the form of property or another guarantor, the financial institution may increase the age by five years (for women it will be 60 years, for men - 65, respectively).
The strictness of the requirements is justified by the fact that in this way the bank provides itself with financial stability, and there are very few outstanding loans.
Mortgage requirement
Gazprombank carries out refinancing of a mortgage if it meets the requirements of:
- taken in rubles;
- type of debt - only mortgage;
- the balance of the debt should not exceed 85% of the market value of the property;
- balance on the loan term of at least 36 months;
- lack of current delays.
Pros and cons
Consider the main pros and cons of the program that offers Gazprombank. Mortgage refinancing has the following advantages:
- the possibility of registration in any cash equivalent;
- long term loans;
- lack of additional fees from the bank, including for maintaining an account;
- lack of hidden fees;
- the presence of minimum payments without maximum thresholds;
- the absence of penalties for making a larger payment on account of monthly payments;
- the ability to repay a mortgage ahead of schedule without imposing fines;
- You can apply for a mortgage without collateral by providing the bank with several guarantors.
The following features are negative points:
- The borrower may be refused refinancing if the mortgage is repaid by less than 20%.
- Availability of requirements for the housing itself: this should be an apartment exclusively in a new house. Unfortunately, the bank does not consider apartments in the secondary market, rooms in communal apartments, "Khrushchev", etc.
- The presence of insurance affects the interest rate on the mortgage.
- An impressive list of documents for verification of which can take up to six months.
Reviews
What do bank customers say about a service such as mortgage refinancing? Gazprombank receives, of course, the most diverse reviews about this service. Many people like that the requirements for borrowers are not too strict. However, dissatisfaction is caused by a slow examination of applications. Gazprombank employees are provided with additional benefits for refinancing.
On the other hand, the gripe causes incompleteness of the information provided to the client initially. That is, after submitting documents, it is required to collect certificates that were not previously mentioned. This is not a very pleasant moment, which upsets many Gazprombank customers. However, the attractive interest rate covers all these shortcomings, so the bank’s customer flow is stable.