What banks offer
Hopes for a rapid decline in mortgage interest rates, which emerged in the past year did not materialize. For 2010, of course, significantly cheaper loans, but to reach the level before the crisis in currency rates have not yet obtained. The government, which promised to pour money into cheaper housing loans, postponed the issue for 2012, promising a year to allocate $ 10 billion.
No wonder that in such a situation the proportion of agreements involving real estate mortgages in the current year is around 7%. This, of course, is 3% higher than last year, but 10 times less than in the pre-crisis period.
Although it is worth noting that the rates continue to decline. According to the company Protobank Consulting, most in the first quarter of this year, cheaper loans for five years - by 1.1 percentage points, up 19.14% real per annum. Interest rates on loans for 20 years decreased by 0.9 PP and up to 18,49% real per annum. However, some financial institutions are offering loans with a real interest rate at a level of 14-15% per annum. Such banks a little, but they are.
True, the financiers are not ready to give their money to anybody. Initially, we must prove that you're good and know how to save zarabatyvesh, so managed to accumulate a decent amount. Most banks require that the borrower was already in the hands of at least 30-40% of the cost of housing, which is quite a decent amount that is in stock, not every potential borrower. For example, in the capital for the purchase of unpretentious one-room apartment on the outskirts of the credit must be in the hands of 20-25 thousand dollars.
However, some banks are offering options with an initial contribution of 10%, but here lies the catch. After questioning, it turns out that for such a transaction will need to lay your existing available accommodation. Naturally, in this case, grow up costs for registration, as the need to draw two and two insurance contract lien on an apartment.
Portrait of a borrower
One day we spent on it to go through the offices of banks that make loans for housing. After talking with the credit managers, we were able to draw a portrait of the borrower, which bankers are willing to trust. And that's what we have.
Good chances for a loan is no longer a young man - he must be over 25 years. Naturally, it should more than six months and sometimes years to work in a decent company and have an income from 5000 hryvnia per month. This amount is enough for living in a suburb of Kiev, or the regional center. Living in the capital amount is slightly higher - often called by 7,000 hryvnia. In this case, all income must be official. To repay the loan, you should leave no more than 40% of monthly income. The client must be able to save and collect at least a third of the cost of future housing. If at least something from above you do not, then the loan can not count. The only thing your salvation - is the guarantor. But he must meet the criteria of the bank and be ready to respond in the event of your financial insolvency.
What should the borrower
True, analysts say that in these times people are not ready to buy an apartment in credit at 17-18% per annum. That's down housing prices. Some analysts say that the average price of the square of the capital have reached a minimum post-crisis, others say prices still at 6-7% above the lows, but with the beginning of the year continues to decline. Without cheap mortgage housing market does not revive.
- Now the buyer needs a mortgage is relatively cheap - under 12-13% per annum and for long periods, and banks are offering 18-19% and a relatively short period, - analyst consulting company SV Development Sergei Kostecki. - So if someone borrows and secured an apartment, a relatively small amount, which is not enough to make a deal.
Due to the fact that banks are unlikely to lower interest rates on UAH loans to an acceptable level, while foreign currency loans has not yet been issued, and intensify the housing market should be expected. We expect that in general, by the end of the year the prices almost do not change - can be variations on a few percent up or down depending on the location of housing, but to influence the situation on the market it is unlikely that it will.
And at this time
Repairs are more expensive
After buying an apartment is usually instigate repairs. Where can I take money for it, if it is so badly to spend? That's right, again go to the bank. True, the interest in this case above.
According to the company Prostobank Consulting, the average cost of credit repair mortgages for one year is 29.2% real per annum.
Loan with the designated purpose for a period of five years would cost an average of 19.7% real per annum. At the same time over the past six months, the average rate on such loans is almost unchanged.
However, the number of banks that lend to repair, is still small. At the beginning of April 2011 only three banks in the first fifty issue such loans.
If you have already paid the bank for an apartment, you can once again lay flat in order to make the repairs. Untargeted consumer mortgage loans issued dozens of banks. Average real interest rate on such loans for a period of one year is 23.53% per annum for five years - 20.56% APR.
Who has a good chance for a mortgage loan
Age 25 to 65 years
Owns a sum at least 30% of the cost of housing
Lives in the same region, where he received a loan
Buy liquid property
Payment on the loan - no more than 40% of the official income
Documents required to obtain credit:
Passport, certificate of tax code
Certificate of employment during the last 3-6 months
Documents certifying additional income
Documents on buying an apartment
A copy of the employment record with the records for the last 3 years
Documents guarantor (passport, code, income statement), if required