Lower and lower
Related article: Mortgage loans on «a primary» considerably more expensiveIn recent months, the cost of mortgages has fallen significantly. And if the spring rates have fallen to pre-crisis marks, now in the national currency loans may have to take on the same conditions as the foreign currency loans in 2007-2008, says MP.
According to "Prostobank Consulting," the average real rate on loans to purchase real estate in the secondary market for 20 years with banks among the top 50 was 16.84% per annum. In this case a month ago it was 17.47% real per annum. Thus, during the last summer month loans on "the secondary" fell on average by 0.64 percentage points. Average real mortgage rates for 15 years during this period decreased by 0.49% to 16.96% per annum.
Of course, these figures do not cause euphoria from borrowers, but it's just average temperature in the hospital. We managed to find offers from some banks and at 13% per annum. Now that's really interesting proposition, especially when you consider that even the official inflation rate is around 10%. True, this rate is not fixed for the entire loan term, and at some point it becomes floating, that is the size of the loan shall be reviewed at agreed intervals.
HAZARD Floating rate
As you can imagine, a floating interest rate - a double-edged sword. In the days of cheap resources - that's a plus, but in times of financial disasters, it can play with you a malicious joke.
- Floating rate makes it possible to get a loan with a lower interest rate than the current price situation in the credit market - said the deputy chairman of the board of one of Ukrainian banks Alexander Bondarenko. - However, the borrower must not forget that the loan carries an adjustable rate to a serious interest rate risk, which may result in atvyshenii interest rates following the change in market conditions.
Most borrowers choose the loan conditions with a fixed rate because it is more convenient and easier to repay the loan each month a fixed amount. Loans with fixed interest rates allow the borrower to plan your expenses, knowing that every month he has put on the payroll a certain amount. This is the reason for its popularity in our country loans with fixed interest rates.
Although if you remember the story, then immediately after the crisis, many banks have unilaterally started to raise interest rates, citing the force majeure in the economy. Now this is impossible, because in 2010 a ban came into force banks to unilaterally change the interest rates. Banks also have no right to demand early repayment of the unpaid portion of debt on loans and to unilaterally break the loan agreement in case of disagreement with the proposal of the borrower's financial institution to increase the interest rate provided the loan agreement. So now the truth is on the side of the borrower.
Mortgage loans to purchase housing justified only if the payments on it are comparable to rental rates. Therefore, when calculating that it is cheaper - to buy an apartment or rent an apartment, you should compare the financial losses in each case: the amount of interest the bank and the rent rate. Even considering that the cost of rent (however, as the price of an apartment) can grow in value, in many cases it makes more sense not to drive themselves in bondage to mortgage and rent an apartment, putting the difference in the deposit and gradually building up the necessary sum.
13% - a lot or a little?
"Komsomolskaya Pravda" has decided to calculate how much to earn to afford a loan to buy an apartment in the capital.
The basis of calculation will take a loan of 420 thousand UAH. (The price of panspruce "kopeck piece" in a residential district of the capital - about $ 75 thousand, minus 30% for a down payment), interest rate - 13% per annum.
Using the mortgage calculator one of the portals, we find that for the term loan for 20 years, the monthly payment amount to 6300 UAH.
Given the basic rule of organizing the family budget, which states that the share of payments on loans must not exceed 40% of revenues, we find that family income, for such a purchase reshivsheysya should be around 16 thousand UAH. a month! With a salary for two and a savings of $ 22-23 thousand for a down payment, you can expect to buy an apartment worth $ 75 thousand
If you are going to use the annuity payments to the scheme, during the 20 years you will have to pay 4921 USD. In this case, you only have paid about 12 thousand hryvnia per month for two.
For comparison, in the beginning of the year these loans were worth 18% per annum and costs to borrowers are much more expensive. They had to pay a third of a large amount and, accordingly, show a third large official salaries.
Housing prices in the regions is naturally lower. Therefore, contributions and salary can be counted in proportion to decrease the cost of housing in your particular city.
In the SUBJECT
National Bank promises to increase the number of loans
National Bank, together with the state banks has developed special programs refinancing of commercial banks for mortgage development in Ukraine. The Cabinet of Ministers and National Bank are going to introduce non-bank refinancing program through four state-owned banks (Oschadbank, Ukreximbank, Ukrgasbank and "Kiev") for the development of mortgage lending.
- To raise the building, we, along with state-owned banks have developed a special program about the launch of which will be announced in the near future, - the head of the NBU Sergey Arbuzov. - Today, Cabinet has already signed permission to participate in this program for the four banks controlled by them - Ukreximbank, Oschadbank,Ukrgasbank and "Kiev".
According to Arbuzov, the program aims to significantly accelerate the pace of mortgage lending, and within the state-owned banks will refinance the remaining financial institutions. It is assumed that a key role in implementing the program will play Oschadbank and refinancing of the project will be granted on market terms.