Emerging Trends in Real Estate Lending

12.02.2011 11:30
Articles about real estate | Emerging Trends in Real Estate Lending Gathering for the first time to buy their own apartment or move to more spacious accommodation, the person usually first evaluates its financial capacity: how much money is in cash or bank account information, at what price you can sell the existing property, what is the maximum possible size of the loan. And most importantly - what monthly payment they can afford?

Making your own or with the help of staff of the credit department of the bank, such calculations, some people are forced to choose a cheaper version of the apartment or on time and do refuse to buy housing that did not have all the wages given to the bank to repay the loan. Not the most pleasant prospect, right?

Related article: Pros and cons of mortgage and installment

JSC "BPS-Bank" in the past six months, has worked assiduously to ensure the largest possible number of Belarusians had his own roof over your head. Already established the order of 50 credit programs with the leading property developers in Belarus, under which a buyer who wants to buy an apartment, get a loan on more favorable terms.

After analyzing all of the proposed "BPS-Bank" in conjunction with development companies credit programs, we found that one of the most profitable - created in partnership with FE Univest-M to buyers of apartments in minipolise "Cascade" (a new complex along the street. Kalvariyskaya in Minsk). Questions browser TUT.BY Andrew Korovayko said Deputy Chairman of the Board of JSC "BPS-Bank, Oleg Borodko.

- Oleg Vladimirovich, it is known that one of the most active buyers of real estate lenders is "BPS-Bank". Lack of customer you do not. Why did you decide to cooperate with the Univest-M?

- Indeed the results of last year, "BPS-Bank" came in second place among banks lending to real estate Belarus. Group of Companies Univest-M "- a rather serious player, and cooperation with us is not only a credit of potential apartment buyers. Univest-M "- our client as a legal entity. Goodwill of the company there is no doubt, and the result of a complex of mutually beneficial cooperation with it has become unique in its architecture lending program in the homebuyer minipolise Cascade.

- Explain to me please, as if I were a prospective buyer of an apartment and a possible client of the bank, what is the essence of this program?

- Naturally, the most interesting are the special condition of lending interest rates, which start at 1.5% per annum in the first year of lending. All lending is divided into two phases. Duration of the first stage are chosen by the borrower. This phase of credit at low interest rate. Its duration can range from 12 to 24 months. In the second step rate is also very attractive.

Nenuzhdayuschihsya for improvement of living conditions in the first stage begins rate of 4% per annum on the second - the rate is around 16% per annum. As for the "waiting" for them provided interest rates from 1.5% APR for the first phase of Credit and 13,5% per annum on the second.

Stated rates are fair: there is no any extra charge - whether charge for maintenance of the credit agreement, for consideration of a package of documents or another.

In addition, the bank is not a fixed rate, and tied them to the refinance rate. Accordingly, if the refinancing rate will be reduced, then the cost of bank charges in the future will diminish. And lately we have seen repeatedly over the decline refinancing.

Also worth noting is that our clients themselves can choose the place for them to loan term: someone - 20 years, someone - 5. Another undoubted advantage of this program is to obtain a loan of up to 85% of property value - is higher than normal market credit conditions. Agree, more profitable for a buyer of real estate loans on the market today and not find it!

- Oleg Vladimirovich, in your estimation, how much revenue should be the person to get a loan for an apartment in a "cascade"?

- To answer this question, I need to know the general area and the cost of the selected buyer apartment, because on the basis of these data, we expect the maximum size of the payment fee and the amount of credit that could provide this to the borrower. Approximate calculations of your readers could make themselves, given that in the first already-built house minipolisa "Cascade" Today the cost of one meter starts at $ 1300.

We went to meet potential borrowers, and in calculating the solvency of customers are return next of kin. After all, it is no secret that credit is often a young family to help pay the family. By the way, for the borrowers under the program "Cascade", we have reduced the period of consideration of documents up to five working days, but in practice it takes and not more than two.

Realizing the critical importance of the problem of providing public housing, we promise our customers continue to look after their interests and to offer new profitable banking products.


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