The need for mortgage refinancing may appear in several cases. Firstly, such a reason may be the fact that the interest rate on mortgages in Sberbank has decreased. Secondly, due to a change in the weight of payments due to exchange rate fluctuations. And although Sberbank provides a mortgage in rubles, this does not change the fact that changes in the exchange rate of foreign currencies affect the solvency of the population.
Governmental support
Before resorting to lowering the interest rate or choosing a mortgage loan provided by the bank, it is necessary to take into account that in some cases a government support program is in place. However, even if the amounts available since 2015 became difficult to pay to borrowers, is it possible to reduce the rate on an existing mortgage? Of course available. And for this purpose, you can use several options.
How to act?
First, you must write to the lender providing the loan a statement. Nowadays, all leading banks carry out refinancing. Among those, we can distinguish Sberbank. If you apply to this credit institution, you can expect to receive a change of currency, a decrease in the volume of monthly payments, and a reduction in the timing of payments.
When using internal re-lending that adjusts the mortgage agreement, Sberbank recommends that the borrower:
- To convince the bank that the funds requested by the borrower are guaranteed to be returned.
- Learn about all the necessary nuances, including current agreements and the organization’s internal policy (availability of a mortgage loan with a lower rate, for example).
- Compile and submit an application, for which it is necessary to consult with the manager.
If the bank is ready to satisfy the application, that is, issued a positive verdict, the borrower will have to accept new agreements and conditions. It is necessary to find out in advance what mortgage rate is in Sberbank.
What's the catch?
However, although this method is the most correct and convenient for the client, its implementation is not always possible, since banks do not like to make concessions and lower interest rates. They may not even state the reason for the refusal refusal.
If the borrower was refused to reduce the amount of payments if he wanted to repay the debt as soon as possible, he has few options. Often they all come down to taking a new loan from a broker or another bank on more favorable terms. Funds are issued with all guarantees and with a fully assembled package of documents. In this case, usually the client does not encounter resistance, which makes this method extremely popular. This is the answer to the question of how to reduce the mortgage rate in Sberbank.
In what cases is refinancing through a new debt appropriate?
In which cases, you should hurry to find out how to reduce the interest rate with a new loan, and in which not? First of all, professionals are advised to take into account the final percentage of payments. Say, if the difference between new and old loans will be only 1%, then the amount of monthly deductions and payments will practically not differ. And in the case of recounting of interest rates or inflation, such an advantage can quickly come to naught.
The 2% difference also cannot give a strong relief, as experts say, but if a person borrowed 3 million rubles, say, for a 25-year period, when lowering the loan from 14.5% per annum to 12.5%, such an interest rate on a mortgage in Sberbank can help save about 2 million rubles in overpayment.
The second point that you should pay attention to is the presence of a temporary delay and restrictions for early repayment. And if it is impossible to carry out restructuring and early repayment of a new mortgage loan, a subsequent attempt to borrow money may result in additional problems, litigation and courts for the client.
Some nuances
What else can a mortgage for housing turn into? Sberbank is a large lending institution, but it also has its pitfalls.
One can also note the receipt of a new loan in a currency that is beneficial for the client, which is valuable because many citizens of the Russian Federation already had big problems in 2015. They needed to make a dollar transfer into a ruble mortgage. In this connection, it is worth asking a question not only about whether a decrease in the interest rate on a mortgage is possible, but also about whether a change in currency is possible. As a rule, lenders easily provide a person with a loan in ruble currency, which will make it possible to repay a dollar debt.
How to change the mortgage rate in Sberbank? This question interests many.
What to consider?
The last point that you should pay attention to when borrowing is cash expenditures, their size, necessary for renewing the contract. The sum of these expenses should be less than the amount of the overpayments that would have remained with the previous loan. However, if all the conditions are met, and interest rates are low, you can safely go to the bank. And after preliminary calculations and selected documents, as well as consultations with a manager determining the possibility of lowering interest, the borrower waits for an agreement to be renewed. For a new lender, you can also re-register an immovable security deposit.
Moreover, when restructuring debts today it is possible to change the list of guarantees by changing the guarantor, the pledge of the construction object and the insurance contract. And it makes no difference whether a new guarantor is a legal entity or an individual. But for such changes to be made in the initial contract, the prospect of their subsequent introduction should be agreed. In this case, all that is required from the borrower will be the provision of the necessary application. However, experts before this are advised to consult with the bank manager without fail. Here's how to lower your mortgage rate at Sberbank.
When and why can they refuse?
And although often the procedure for obtaining a mortgage does not cause any difficulties, in this matter a refusal to receive funds is also possible. What could be the reason for the refusal to issue a mortgage loan to the borrower?
Well, firstly, any bank, including a new one, will check the solvency of a future borrower. And the positive history of payments from other creditors will be completely unimportant to him. And secondly, the provided collateral is undergoing the same series of checks. This will not be affected in any way by the fact that they have recently been carried out by a lender of another bank. After all, the client needs a reduction in interest rates on the current mortgage at Sberbank.
As a result of these checks, it will be decided whether or not to issue a mortgage loan to each borrower individually. If the client is refused a loan, he must bear in mind that the funds spent on the consideration of the application are non-refundable. The final amount of costs, of course, is unlikely to exceed 5-10 thousand rubles, but the client must always understand what risks he takes when contacting the bank.
Conditions for obtaining a mortgage in Sberbank
A mortgage loan is issued at Sberbank on the following conditions:
- The minimum loan amount is 300 thousand rubles.
- The maximum should not be more than 80% of the cost of credited housing.
- Loan term - from 5 to 30 years.
- 20% of the down payment must be paid.
- Interest rate - 11.75% per annum (10.75% in the framework of the "Young Family").
Requirements for borrowers are standard. Age from 21 to 75 years, official employment with proof of income.
Next, we consider how to reduce the mortgage rate in Sberbank.
How to reduce mortgage interest in Sberbank?
In the event that the client purposefully applies to the same bank where the main loan was taken in order to obtain refinancing, he is left with the use of the last, third option, that is, resort to appeal to the court. However, there are pitfalls here. An important condition for a court to issue a positive verdict in favor of the borrower is the fact of violation of regulatory acts governing the rights of all clients. If such violations are not observed, then the statement of claim may not be satisfied. And then the mortgage for housing will remain unchanged. Sberbank takes the borrower’s credit obligations very seriously.
What kind of violations?
What conditions can be classified as violations? For example, this may be the period and date of interest calculation. Documented provision No. 39 of the CBR of August 26, 1998, this process is quite clearly regulated. Based on this provision, interest should be accrued by the bank on the balance of credit debt at the beginning of each new banking day. In case of any deviation from this rule, the client has the right to file documents with the court for the return of the overpaid money or for re-lending.
For VTB24 mortgage, you can reduce the rate on the same grounds as in Sberbank. What cases are the reasons for filing a court application for restructuring a loan by the lender himself? These include non-fulfillment by the borrower of guarantees to the bank. In this case, the broker or the bank will act in full accordance with the terms of the drawn up contract and in order to protect their financial interests, and they have the right not only to withdraw the security deposit, but also to file an application with the court. So most often Sberbank acts.
A mortgage (is it possible to reduce the interest rate on general terms, we have sorted) is issued for a long period. During this time, changes in the family may occur, for example, a child is born.
How to reduce a mortgage on having a baby?
A joyful event is the birth of a child in the family, but it is also a big expense that can be reduced if newly made parents provide a 2-personal income tax certificate to the bank. Such a certificate confirms the income level and reduces the time for considering a mortgage, if you turn to almost any lender. And although some require filling out their forms, Sberbank can confirm the income in any way convenient for the client.
If a young family with at least one spouse under the age of 35 applies for refinancing or a mortgage, they will be offered a special family loan program. The advantages are as follows:
- you can take young parents as co-borrowers;
- annual rate will be reduced;
- deferred repayment of principal for up to 3 years;
- down payment can be reduced to 10%.
That is, it will be easier and faster to repay the mortgage at Sberbank.
At the birth of a child, mortgage refinancing can be provided by a bank in which a loan has already been received, or by any other lender. Well, families with many children are mainly offered a mortgage loan for specials. conditions.
Conclusion
We conclude that if a person has a question about reducing payments on a mortgage, then first he should contact the lender who provided the loan. If you get a refusal to refinance, then you should go to court or find another lender. We examined how to reduce the mortgage rate at Sberbank.