Over the past few years, among other banking programs for demand in the general population, the first place has been confidently coming out of a mortgage housing loan. And this is not surprising, because everyone who does not have a dream about a roof over their heads, and whoever has one wants to have at their disposal more square meters. Banking programs make it possible to realize all dreams of residential space, so the volume of mortgage loans issued is growing from year to year. But so far there are quite a few people who know about the rules for granting mortgages only from familiar stories and stereotypes in society.
Support provided
To provide the population with the possibility of acquiring housing, various programs were launched, for example, restructuring of a mortgage housing loan. Different banking structures offer excellent, but rather favorable conditions. The state helps those banks that cooperate with the population on mortgages, maternity capital. At the state level, there is a project under which Russian citizens are able to purchase housing on more favorable terms.
The government did not disregard the issue. A body has been formed working with banking institutions. It is called AHML - an agency for housing mortgage lending. Besides him, the Agency for the Restructuring of Mortgage Housing Loans also works . There are regional structures, there are various mortgage centers. All this allows people taking a housing loan today to be confident in the future and that they will be able to pay off their debts, even if the economic situation changes.
Present and future
Now indicative estimates of the mortgage market in Russia are about $ 400 million, but potentially development is possible no less than to the level of 30 billion! This means that the terms of the housing mortgage assistance program will interest people more and more. Banks, in turn, can count on increasing transaction volumes.
Statistics clearly demonstrate that a mortgage is the most acceptable, real way to buy a home. This applies to all regions of the country without exception. One can safely say that without Sberbank's mortgage housing loan, many of the families that now have a roof over their heads would not be able to afford this if they only operated with funds that were independently accumulated in a conditional glass jar.
Mortgage: a panacea for all ills?
Despite the current program for the restructuring of mortgage housing loans, an abundance of bank offers and really favorable conditions for a number of reliable financial companies, experts call for caution. Mortgage cannot be considered the only possible solution to the housing problem.
From the point of view of some scientists, only processing at the root of the existing market and creating a more efficient structure from it will reduce the difference between the profit of the average people and the price per square meter. They urge through a mortgage housing loan and other programs to create the basis for such a market for a new society. The trends in the development of housing loans in Russia in recent years have generally met the requirements of these scientists, but there is still room for growth. The program will become truly effective when the economic situation in the country is stable.
Difficulties and problems
Why can not help with mortgage housing loans solve housing problems in every family? The main reason is precisely the instability of the economy. In Russia, the judicial, legal, and banking systems have not yet been sufficiently established. To this day, interest on credit programs is sky-high, and there are no guaranteed housing rights as such. Prices are speculative, the housing sector is virtually isolated from the country's economy. Some experts are betting on a single-level lending system as the simplest, most effective, applicable in existing realities. Its features are the exclusion of insurance, the simplicity of the applicable law.
The State Housing Mortgage Assistance Program has become an important support to the banking system and ordinary people who need a roof over their heads. There is targeted assistance, which, coupled with a long-term mortgage, promises to be an essential element of housing policy in society. But for this, the laws of the country must include clauses that clearly regulate mortgage housing loans, their conditions, including in relation to those segments of the population that are considered socially unprotected.
Necessary and important
The most effective way to develop the housing market is through targeted assistance from the state. Experts say that it is necessary to introduce new benefits that allow you to get a loan or pay it off under simplified conditions, you need to introduce subsidies and index loans to make it easier for the average person to pay off debt.
The proposals to stimulate obtaining mortgage loans through the tax system look reasonable. Others also offer to advertise in the society the practice of accumulating money and even encourage those who are especially successful in dealing with this. Finally, it is necessary to develop several mortgage lending programs so that citizens can choose what suits them the most. Only the state has the power to think through, work through and implement all of the above.
Mortgages: it will be easier
You can count on a change in the situation with the purchase of housing on credit, if you manage to stimulate demand for banking products in this area, which should be supported by an adequate choice of housing in the real estate market. At the state level, it is necessary to introduce a risk management system and improve state tax laws. All this, coupled with an increase in the availability of mortgage programs for the general population, will increase the demand for offers from financial companies.
Real estate market experts say that specialized credit programs targeted at narrow groups of people will enjoy (and already enjoy) the greatest success. For example, these are mortgages for military or young families with children, those who are entitled to maternity capital. As for the latter, it is a rather controversial issue. The program is good in its idea, but its implementation so far leaves much to be desired. It is necessary to introduce a number of clarifications into existing laws, which will make it possible to turn it into a more effective one.
Say goodbye to debt, keeping the last pants
In recent years, it has become increasingly common that mortgages for families are an unbearable burden. For example, one of the spouses loses their jobs and for a long time cannot find a new one, but the loan has already been taken and payments must be made on time. You can not get into the debt hole and not be left without a penny (or even without a roof over your head) if you use the loan restructuring program. It is valid only for customers of banking institutions who find themselves in a really very difficult life situation.
Through restructuring, you can save a roof over your head, while reducing the amount of payment per month. You can access preferential programs or even sell an apartment, the mortgage on which turned out to be unbearable, and buy something cheaper. It is important to maintain the quality of credit history.
How to use?
To initiate a restructuring, you need to contact the company issuing the mortgage or the intermediary company (realtor). The first option seems more reliable, but not every financial structure is ready to go towards the client. The most difficult thing is to get refinancing, when they want to sell an apartment that is too expensive in order to buy something cheaper.
Collaboration with an intermediary can be simpler, more profitable and even cheaper. Agents inspect housing, believe that the price of real estate exceeds the amount of debt, find those who want to buy and offer the client something cheaper from their base. At the same time, the client can take a more favorable mortgage loan for new housing or even pay off his own savings, if possible. That is, with the safety of the roof over your head, the burden of monthly payments can be significantly reduced.
Restructuring: Banking Offers
What suggestions can be expected from bank employees by contacting the company that issued the money for the purchase of housing? The first option is to reduce the amount of the monthly payment. At the same time, the loan repayment period is growing and the overpayment for the program becomes larger.
Many banks offer credit holidays. This term assumes that the client pays only the interest on the loan during the period agreed in advance. However, here the situation is similar - the time period is stretched, which is why the overpayment increases.
Finally, refinancing may be offered. This means that the client receives a new loan, the terms of which are better than the current one. Such a program can be requested not only in your bank, but also in a third-party. The funds received under the program are directed to the first loan, repaid at once, and then gradually paid on the new debt.
Banks: many options
In addition to these restructuring programs, there are some proposals that allow the client to pay off debt in a simplified manner. For example, if the economic situation is unstable and is accompanied by a strong fluctuation of currency pieces, the bank may offer the client to change the currency of the loan. With the right approach, this helps reduce payouts.
Some banks remove penalties and fines, forgive the amount accumulated due to late payments. You can also early repay the mortgage program. In this case, the client saves on overpayments, but they will not be able to resort to early repayment if the circumstances are force majeure.
Agencies: all in pursuit of a customer
It is beneficial for real estate companies to have people go to them, therefore, such companies are doing everything possible to attract people who want to pay off their mortgage loans, replacing housing with something cheaper.
When contacting the agency, you will first have to meet with experts. They will evaluate the housing, form an official opinion on the basis of which the company will decide whether to deal with a problem house or is it too risky. If the assessment is more than the debt to the bank, you can count on productive cooperation. Agents are looking for a buyer at home, and the money that the seller will receive is sent to the bank, closing the loan. Some funds may remain at the disposal of the client. They can be safely sent to purchase new, more modest housing. Find the agents of the same company will help.