Mortgage Loans: the pleasure is not for everyone

11.09.2010 13:30
Mortgage Loans: the pleasure is not for everyone

 

Plus, the borrower has to pay the notary fees (which may exceed 1 ths.), 0,1% of property value for registration of the mortgage contract, a 1% state tax and 1% of pay to the Pension Fund.

Repay the loan, usually banks allow either the classical scheme (decreasing payments) or annuity (equal payments every month). However, the "classic" gives a much smaller overpayment, rather than an annuity, savings could be 40-50% of the overpaid money to the bank.

Limited access


Approach to assessing the solvency of the borrower remains severe. Of course, all proceeds will confirm officially. Moreover, among them may be not only wages but also income of the spouse, interest on deposits, dividends, profits from the participation in investment funds, etc.

"Many banks refuse to lend if the borrower does not work in a large and stable company. In fact, banks do not recognize the income certificate issued by small companies", - stressed Alexander Okhrimenko. In addition, with insufficient income bank may require an additional bond (another apartment, auto) or surety.

Many banks refuse to lend if the borrower does not work in a large and stable company

Coefficient of the debt burden on the borrower - the percentage of gross monthly income that can be spent on servicing the loan - up to about 30-40%. That is, if the official salary of the borrower's 5 thousand UAH. He can spend on a credit only 2-2,5 thousand per month, 10 thousand - no more than 3-4 thousand

Will it easier?


Until the end of 2010 the market is unlikely to be able to offer a lower interest rate on mortgage loans and better conditions of obtaining a loan.

"Allowing the market may, at the resumption of foreign currency lending. In these credit products, interest rates are much lower than in the national currency, which can increase interest from potential borrower and, accordingly, provide an incentive for increasing supply and competition in the mortgage market" - says Anton Shaperenkov, Director of Product Management Retail VAB Bank.

However, given the position of the National Bank, which still opposes the issuance of foreign currency loans to natural persons, to hope for the resumption of lending in dollars and euros in the near future is not worth it. Improve the situation with the lending can be expected in 2011 unless there is a second wave of the crisis, the banking system will receive the necessary funds before the end of 2010, according to the memorandum with the IMF.

 

On what conditions banks give mortgages?
Bank Term Advance Rate Commission Insurance
Ukrsotsbank to 20 years from 40% 23%, Floating 0,99% - one-time 0,3% - the subject of mortgages, life insurance may
Ukrsibbank to 15 years from 30-40% up to 5 years - 19,9%; 5-15 years - 22% - -
VTB Bank to 20 years from 30% 22% 2% 0,23-0,3% - property; 0,23-0,35% - borrower
Forum to 15 years from 50% 23% 2% 0.3% - Real Estate (secondary housing) and 0,1% per month - properties (primary cell)
Ukrgasbank to 10 years from 30% 22% 1% 0,3-0,4% - real estate, 0,6% - of life, 0,45-0,6% - accident
Erste Bank to 10 years from 50% to 5 years - 23.99% 5-10 years - 24.49% 10 years - 20.25% (floating) 1,5% property and the borrower

Choose the credit for housing through the service"Financial passage" for finance.tochka.net.


Content tags: Mortgages Housing Apartment
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