To take a small loan for several years to solve current financial problems, many credit institutions of Moscow offer. If you need a large amount of money, but you do not want to dedicate the bank to your plans, you will have to provide the investigator provision. Consumer loan secured by real estate - the optimal option for individuals to get money in cash or on the card, where the warranty of the return of the loan is the apartment or other real estate.
What is a consumer loan secured by real estate
The loan is found on the security of real estate from a legal point of view is nothing more than mortgage lending, which is often associated with the purchase of real estate. In fact, the concept of "pledge of property" and "Mortgage" are synonymous words. This kind of loans can be targeted and inappropriate. The difference lies only in the fact that in the first case it will be necessary to report to the bank for the tools spent. Lenders issue loans secured by residential and commercial real estate, as well as land plots, and the object itself is subject to insurance.
Than profitable
There are several advantages of a consumer loan, but the most important of them is that the bank can offer a borrower a large amount of money, which reaches 80% of the estimated value of the laid property. The bank goes to such concessions, because it can always implement an object if the client violates the terms of the loan agreement and will cease to fulfill the responsibilities for the return of debt.
Consumer mortgage lending programs are beneficial and from the point of view of annual interest rates. They are significantly less than standard loans for consumer needs. If the loan is also targeted, then customers can sometimes count on an additional decrease in the rate size (about 1-2%) although it is completely dependent on crediting organization.
Where can I use
The loan secured by the immovable object is taken to different purposes. You can use the money received on vacation, repair or buying some things. A closer amount can be spent on purchasing a car or even an apartment or country real estate. Many people resort to such loans if they need money to open their own business, because in this case there is no need to provide a business plan to the lender. In addition, the consumer loan under the laid property can be taken on the refinancing of previously issued loans.
Where to get a loan secured by real estate
If you decide to take a cash loan on the security of real estate, it is recommended to carefully weigh your capabilities. This is due to the fact that at least loans are provided for a long time and under a relatively small interest rate, the total amount of debt is large. Find the same organization that can satisfy your financial queries in exchange for mortgage property Nazelly, and you can choose as government agencies, such and commercial companies. In some cases, it is possible to even resort to private individuals.
Choosing a lender, you need to pay special attention to several factors. First, this is the time of organization of the organization in the lending market. The advantage should be given to those whose back is not one year of successful practice. Secondly, do not be lazy to find out more information from real borrowers, their feedback on the work of the lender, its approach to customer service. You can still pay attention to the company's international ratings and indicators of its financial activities.
Banks
The majority of applicants for consumer loans secured by real estate are chosen as a lender banking institutions, and preference is given to major players of the financial market. However, you can always look close to small financial institutions, because in the struggle for each client, they can offer very favorable lending conditions. Here are just a few lenders, in the credit line of which there are loans secured by residential real estate:
MFIs and private lenders
By providing consumer loans on the security of real estate, banks impose a number of requirements, the failure of the failure to issue a loan. There are other options - contact microfinance companies or individuals. Immediately it is worth noting that not all organizations have a license to implement this kind of operations. Below is a list of organizations that are particularly popular with compatriots:
- Metropolitan deposit company;
- Invest-groups;
- Profitable house;
- Euro-credit;
- Center for loans.
Conditions for obtaining a loan
It is possible to issue a consumer loan on security deposit when performing certain conditions that, depending on the chosen company, can be different. In addition, not all properties are subject to deposit. For the Bank, its liquidity is important, i.e. the likelihood that to implement mortgage facilities in the case of force majeure can be in the shortest possible time at a bargain price. For this reason, 1-2-bedroom apartments in the Sleeping Area of \u200b\u200bMoscow will be more attractive from this point of view, rather than mansion in the Moscow region or large apartments in the center of the capital.
Requirements for the borrower
Special requirements for banks are not presented - they are standard. The first thing to pay attention is the age of the borrower and the presence of a permanent place of work. The staff must be a citizen of the Russian Federation and have registration in the region where he requests a loan. It is also necessary that the applicant must be the owner of the property transferred to the deposit. The chances of receiving a consumer loan are increasing if the loans have a good credit history and there are no delay related to payments on previously issued loans.
Interest rates
For the use of a consumer loan on bail apartment, the Bank will have to pay a certain amount, the calculation of which depends on the rate acting under the contract. Its nominal value can always be seen on the website of the credit organization or in advertising booklets. It is worth understanding that in most cases the final overpayment on the loan will be more, because additional commissions will be taken into account when calculating the real interest rate, which will charge, for example, for maintenance, provision or early repayment of the loan.
In order not to be unfounded, you can bring a specific example. In Sovcombank, a loan product is proposed on the security of real estate with a nominal rate of 18.9% for up to 20 years. If the Client wants to connect the "Financial Protection" option, it will have to pay additionally a bank from 2 to 9.9% depending on the amount of the debt. According to the result, the real rate for such a loan will be more than those specified in the sentence.
Under the minimum rate, the collateral consumer loan is made in Gazprombank. Depending on the conditions, it starts with a value of 11.9%, but the Moscow Industrial Bank offers a similar loan, where the annual rate is at least 20%. For this reason, before choosing a specific product, it is worth calculating the amount of monthly payments with a credit calculator, which can be found on the site of almost any bank.
The amount and term of lending
The consumer loan secured by real estate differs from the usual proposals for granting and maximum amount. If the standard urgent loan is offered by lozers for a period of 3 months to 5 a maximum of 7 years, then in this case you can take money with a maturity of 10-20 years. Loan amounts can be different - from several thousand to tens of millions of rubles and depend on the estimated value of the collateral and the financial income of the borrower.
How to get a non-target loan
Before you use the services of a specific bank in order to get the inappropriate consumer loan on the security of real estate, you need to thoroughly explore the offers of creditors. To do this, you can contact directly to the lender or compare offers on special sites. In addition, it is worth learn whether your property is like to transfer it as a guarantee of debt return, because many organizations nominate certain requirements for the property. If these issues are solved, you can submit a credit application.
Application for a loan
The term of consideration of the application and decision making
After the application is transferred for consideration, the waiting period begins. The process of long and takes at least a week, and sometimes at all. This is due to the fact that the bank must carefully check all the data and documents provided. In the MFI, the approval process is faster, and in some cases, a few minutes later, you can get an answer.
Signing a loan agreement
If a positive response is received for the petition, the Bank's employee is associated with the applicant and invites it to the department for issuing documents and conclusion of the transaction. The agreement is signed in two copies - for each of the parties. In the MFI, the signing procedure occurs in several other way. The phone specified in the application enters the code to be entered into a special field. In this way, the Client agrees to the conditions provided by the lender.
Credit cash
After signing the contract and the transfer of real estate, the time of receipt of money comes. The client in the right to choose how it is convenient for him to get funds:
- to map;
- in cash;
- to a bank account;
- money transfer.
In addition, it is necessary to clarify the specialist in the bank's department, whether the credit organization charges an additional fee for issuing money from the cash register or an ATM, whether you need to pay for the release of the card or you can use the available.
How to issue a consumer loan on the security of available real estate
To obtain a loan secured by real estate, it is necessary to assess the property of the property. To do this, contact an independent appraiser or company. As a rule, each bank has a list of organizations or private owners who have accredited to fulfill such work. This paper is subsequently necessary to file with all other documents.
What documents are needed
If most banks issue a loan for consumer needs without the provision of references and other numerous documents, then in the case of loan secured by real estate you need to prepare carefully. Depending on the institution, the presence of certain papers is not always mandatory. This is mostly requesting a lender:
- passport;
- revenue confirmation;
- copy of the employment record;
- second document (test certificate, SNILS, driver's license, etc.);
- military ID (men under 27);
- document on the estimated cost of housing;
- properties for real estate documents.
Advantages and disadvantages of mortgage lending
However, it is impossible not to emphasize such advantages of bank lending to individuals as a reduced interest rate compared to standard proposals, a large amount and possibility of using borrowed funds for any purpose. In some cases, you can provide guarantors to obtain a consumer loan. Among the minuses unambiguously should indicate that there is always a risk of losing their own housing.
In addition, the execution of the contract takes a long time and requires the provision of additional documents, which is very expensive and unprofitable. Is the loan on the security of real estate optimal, each decides in their situation personally. If you are not sure about the repayment of debt, experts recommend either not to take such a type of loan, or to lay out any real estate, but not the one in which you live.
