Social mortgage for Russian Railways employees - Features of the program for young professionals in 2020

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Buying a home on your own is very difficult. An apartment is expensive, and the income level of Russians is quite low. The way out of this situation is to take out a mortgage. When it comes to housing loans, Russian Railways employees have a number of advantages over other categories of citizens. The company is ready to provide a corporate subsidy and compensate part of the interest rate. As a result, the monthly burden on the specialist’s budget will be significantly lower. However, to use a Russian Railways mortgage, it is important to comply with a number of requirements.

What is mortgage lending from Russian Railways?

Railway mortgage is a unique program that allows Russian Railways employees to reduce interest rates on housing loans. The service has a small initial fee. In some situations, there is no need to make an advance payment completely. The company provides a subsidy that makes it possible to significantly reduce costs. There is no need to return funds. A Russian Railways mortgage can also be provided upon the birth or adoption of children.

Attention! If you have any questions, you can chat for free with a lawyer at the bottom of the screen or call Moscow; Saint Petersburg; Free call for all of Russia.

What is a mortgage for Russian railway workers?

The Russian Railways mortgage is considered a unique housing program under which employees of the organization can rent housing on special favorable terms. The advantage of the program is the small loan fee, in some cases it is completely absent. Borrowers can also apply for a mortgage subsidy, which will help greatly reduce the cost of paying the loan.

Railway mortgage helps in obtaining both primary housing in new construction complexes and secondary housing in Khrushchev and Stalin buildings. If we talk about primary housing, the apartments are provided by ZhelDorIpoteka , a subsidiary organization created as part of the implementation of the program conditions of the Russian railway. The loan is provided by PJSC VTB-24, a partner company.

Loans are given to new specialists on different terms. The rate is 10.5% and there is no fee. We'll talk about this later.

What do they offer for Russian Railways employees?

Attention
There are several types of assistance in solving the housing problem for Russian Railways employees. The company is ready to provide corporate housing or provide a free subsidy. In both situations, a number of conditions must be met.

Corporate housing.

Corporate housing is a type of real estate that is provided to individuals who are forced to live close to work. The premises are issued to an employee of Russian Railways for the period of work in the organization. The property remains the property of the employer. However, under certain conditions, the company can afford to buy the premises. If we are talking about Russian Railways, purchasing a corporate apartment as a property is possible if the following requirements are met:

• work experience in the company exceeds 20 years;
• the person has lived in the apartment for more than 10 years;
• the citizen is registered to receive corporate support.

If the company cannot provide real estate, the citizen may be given monetary compensation for renting an apartment.

Free subsidies.

Additionally, a person can count on receiving free subsidies. The funds can be used to pay part of the cost of the property or pay off the mortgage. The amount of assistance varies from 5 to 70% of the market value of the premises. The indicator is determined individually. It depends on:

• family composition and total income of all its members;
• the amount of time the person has been registered as needing corporate support;
• compliance with living space standards;
• the average market price of one square meter approved for a specific region.

The subsidy from Russian Railways can be used to purchase real estate on the primary or secondary market. The person is given six months to choose a room. When the period ends, the employer has the right to demand confirmation of the intended use of funds. The list of persons to whom the company guarantees the issuance of subsidies is limited.

The list included:

• WWII participants who subsequently worked for Russian Railways and retired from labor groups 1 and 2;
• families of persons killed in an industrial accident;
• employees, single parents;
• persons who work in areas with labor shortages;
• large families raising at least 4 minor children;
• employees who had children during the closing period of their housing loan.

Please note:
In the latter situation, you can receive compensation in the amount of 200,000 rubles for each child. However, the amount of payment cannot exceed the amount of the remaining debt.

Requirements for potential borrowers

No matter how favorable the conditions from Russian Railways are, not everyone can take advantage of them. To take out a mortgage from a company on preferential terms, you must meet the following requirements:

1. Be at least 19 years old. At maturity - 65 years. Otherwise, the monthly loan payment will be increased.
2. Have an adequate salary to make monthly payments, as a rule, it must exceed two times the amount of payments.
3. Have at least 3 years of work experience for professional employees. No work experience is required for entry-level specialists, according to Russian Railways representatives. You can submit a certificate with documents immediately after employment.
4. Have a documented need to resolve the housing issue. It is better to be registered with the state. Then the chance of approval of a loan for secondary or primary housing is higher.
5. Have official current employment with Russian Railways. If you leave the company, the mortgage will be reissued and the interest rate will be increased.

Important! If at the time you take out a mortgage loan, you have minor children, then you have the right to count on additional subsidies, which can be calculated based on the size of the area. So, for one child there should be 10 meters, for two children - 14, and for three - 18 meters.

You can take out primary and secondary housing with a mortgage. With the latter option, you can personally select an apartment with a house by submitting all the necessary documentation. In the first case, a mortgage is given for the housing of ZhelDorIpoteka. The apartments are not spacious and not exclusive, but their price is lower than in other organizations.

Also, the person must be a citizen of the Russian Federation, for this reason people who work under a contract with a residence permit cannot take out a mortgage under this program.

Who can get a railroad mortgage?

Preferential mortgages are not available to all Russian Railways employees. To qualify for assistance from the organization, you must meet a number of requirements. They are presented to:

1. Age of the potential borrower. These conditions are determined by the bank. Loans are usually issued to persons who are already 21 years old. At the time of closing the obligations, the borrower, most often, should not be older than 65 years.
2. Citizenship. Only Russians can take part in the preferential program.
3. Monthly income. Loan payments should be half your monthly earnings. Additionally, the cost of living for each family member is deducted from the amount.
4. Continuous experience. You must work for Russian Railways for at least 3 years. The exception is young professionals.
5. Need for housing. Preferential railway mortgages are provided only to those in need. You must be on a waiting list to improve your living conditions.

Who can participate?

Any Russian Railways employee who has worked in the company for at least 3 years can become a participant in the program. This condition does not apply to young employees. In order to apply for a preferential mortgage, you also need to meet the following criteria:

• Russian citizenship and registration on the territory of the Russian Federation;
• age range – from 21 to 65 years (at the time of loan closure);
• the need to purchase real estate, which has been documented (the employee must be registered as a person in need of improved living conditions);
• availability of funds to make a down payment (it is not necessary for young employees);
• solvency of the borrower (monthly payment cannot exceed 50% of the income of the client and his family members).

If all these requirements are met, the borrower can submit documents to Zheldoripoteka. This subsidiary of Russian Railways will provide employees with affordable housing and, if possible, will engage in the construction of new real estate.

How to obtain the status of a young specialist of Russian Railways?

Young specialists of Russian Railways are graduates of full-time educational institutions under the age of 30 who:

• received a higher education diploma;
• graduated from graduate school;
• received a diploma of secondary vocational education.

To become a Russian Railways specialist, you must get a job in an organization in compliance with the following deadlines:

• within 3 months, if an agreement on targeted training was concluded;
• within 3 months, if there is a job assignment issued by an educational organization at the request of Russian Railways divisions;
• completion of training for other graduates hired by Russian Railways.

If a person is employed by a company within the above deadlines, there is no need to take action to obtain the status of a young Russian Railways specialist. The procedure is carried out automatically. A person is considered a young specialist for 3 years from the date of employment, but no later than reaching the age of 30 years. If a person is transferred from one Russian Railways unit to another, the status is maintained and the period of its validity is not interrupted.

Attention

If a citizen is recognized as a young specialist, he can receive a housing loan without a down payment. Additionally, a free subsidy in the amount of 200,000 rubles is provided for the birth of children. The rule applies if the child was born at the moment when his parent was paying off the mortgage.

Construction

Each category of program participants has its own apartment sales quotas under this social program.

Those who have the right to an apartment out of turn are allocated 20% of the housing. Tariffs for them are as follows:

• Initial payment – ​​from 50%;
• The repayment period for the remaining debt is up to 5 years;
• Tariff – 2%.

Program participants who have the status of needing improved housing receive 10% of the housing stock.

In 2020, they are given a mortgage on affordable terms:

• There is no required advance payment;
• Installment payments – up to 15 years;
• Tariff – 1% per annum.

Young specialists (up to 30 years old) who have worked at the enterprise for at least 3 years are provided with housing within 5% of the quota.

Terms of provision:

• Down payment – ​​from 5%;
• Payment period – up to 15 years;
• Tariff – 1%.

Look at the same topic: Customer reviews of mortgages from Tinkoff Bank: is it worth taking out a mortgage from Tinkoff in [y] year?

In which banks can you get a mortgage from Russian Railways?

The company cooperates with the following financial organizations:

1. Sberbank. The standard rate is 9.5% per annum. As part of corporate support, it can be reduced by 2%.
2. VTB. It provides home loans at 8.9% per annum. Russian Railways employees can use the company's services as part of a preferential mortgage and reduce the overpayment to 2-4.5%.
3. Absolut Bank. The standard offer rate is 8.95%. As part of using corporate support, the overpayment can also be reduced to 2%.

The conditions are valid at the time of writing; to clarify the latest information, contact a specialist.

Basic conditions

For more than 13 years in Russia there has been a corporate mortgage lending program, which was developed specifically for employees of JSC Russian Railways. Its essence is that the borrower is given the opportunity to purchase housing under special conditions:

• Reduced interest rate, minimal down payment or even no down payment (this benefit is available to young professionals);
• Refund of most of the interest, which is transferred to the borrower's account monthly.

The basic terms of mortgage lending are as follows:

1. The interest rate is 14% per year, of which 12% is returned to the borrower in the form of subsidies. Thus, the real rate is only 2%.
2. A mortgage loan is issued in an amount of no less than 30% of the total cost of housing (in this case, subsidies should be provided to young professionals by Russian Railways) and no more than 90% of the total cost of real estate.
3. There is no down payment;
4. The mortgage term is 1-25 years;
5. Credit collateral can be a guarantee from the place of work (“RZD”) or a pledge of ownership rights to property that is purchased with a mortgage;
6. It is imperative to insure the property. If the client refuses to take out an insurance contract, he will receive an increase in the interest rate.

Mortgage lending rate:

Credit burden on employees of JSC Russian Railways:

*
- for workers on the Oktyabrskaya and North Caucasus railways.

What are the requirements for real estate with a Russian Railways mortgage?

The premises must meet the requirements of the financial institution. An apartment can be purchased with a Russian Railways mortgage on both the primary and secondary markets. If a person wants to purchase an apartment in a new building, its construction must be carried out by the Zheldoripoteka company or other legal entities that have received accreditation from VTB and Absolut Bank. When the purchase of premises is carried out on the secondary market, the seller can be an individual. However, the premises must meet the following requirements:

• be located in the region of presence of the financial organization that allocated money for the purchase of an apartment;
• be equipped with all communications;
• have a separate kitchen and bathroom;
• all necessary equipment for living must be in good working order;
• not be located in a house that is subject to demolition or reconstruction;
• do not have wooden floors.

IMPORTANT
Financial organizations lend money only for liquid property.

Properties that can be purchased

You can purchase both primary and secondary housing. However, there are several nuances. Thus, only Zheldoripoteka and Zhilsotsipoteka can be developers of primary housing. These companies provide apartments with a standard layout and a small area.

As for secondary housing, it must meet the following requirements:

• Floors can only be made of iron and concrete, so wooden houses cannot be purchased.
• The apartment should be located in a house built no earlier than the 1980-90s, since the wear and tear of communications should not exceed 60%.
• Availability of a standard layout or BTI-legalized redevelopment in the apartment.

Loan conditions for railway mortgage

The terms of the RJ mortgage differ significantly from the classic ones. In particular, you can do without a down payment if the purchase of premises is carried out in a new building. For the secondary market, the indicator depends on the financial institution to which the application is made. The minimum down payment will be:

• 10% – in VTB;
• 10% – at Absolut Bank;
• 15% – in Sberbank.

The property must be pledged to a financial institution. The property will be encumbered until the loan is fully paid off. Life insurance is available upon request. However, refusal to purchase a policy will result in a rate increase of 1%. Purchasing a policy that protects property against the risks of loss or damage is mandatory.

Attention

The minimum interest rate, taking into account the subsidy, for a young specialist is 2%. For all other employees, the rate starts at 4.5% per annum.

The available limit at VTB is 60 million rubles; at Absolut Bank, this figure is reduced to 15 million rubles. The size of the available limit in Sberbank starts from 300,000 rubles and depends on solvency and the value of real estate. It is necessary to make payments on a Russian Railways mortgage with a subsidized rate within 15 years.

Early repayment is acceptable without penalties or commissions. However, it is important to follow the rules set out in the loan agreement. The financial institution will have to be notified of the planned action at least one month before depositing funds.

Mortgage conditions with subsidized rates

Preferential mortgage terms consist of two main points:

1. issuance of funds without a down payment (or with 10% if the loan is issued by a “standard employee” for the purchase of secondary market housing);
2. reduction of the overpayment rate to 2 or 4.5% per year.

If the first point does not raise questions, then the second requires clarification: only young professionals can take out a mortgage at 2%, other employees receive a discount that reduces the rate to 4.5%. That is, if the bank sets this value at 8.95%, part of it will be paid by the railroad. Thus, corporate mortgages offer some of the most favorable conditions offered by banks in Russia.

Another feature of this product is a reduced debt repayment period. The contract will be drawn up for a maximum of 15 years, but if you take into account the minimum interest rate, the monthly financial burden will be quite manageable.

How to calculate the amount of the subsidized mortgage amount for Russian Railways?

The subsidized part of the loan directly depends on the composition of the family. Take into account:

• spouse;
• minor children;
• adult children who are over 18 years old, but they did not have time to start their own family at the time of filing the application.

To calculate the total amount of the subsidy, it is necessary to determine the price of one square meter of apartment and the living space standards per family. The first indicator is calculated using the following formula:

Cost per square meter = average market price per square meter in a particular region x adjustment factor

In the Russian Federation the following standard for living space has been established:

• 33 square meters per person;
• 42 square meters for 2 people;
• 18 square meters for each family member, if the family consists of three or more people.

As a result, the approximate amount of the subsidy is:

• one person – 1.5 million rubles;
• two people – 1.9 million rubles;
• three people – 2.5 million rubles;
• four people – 3.3 million rubles.

The exact numbers depend on the place of residence of the applicants for the benefit. The indicator is fixed at the Russian Railways management level.

Who can get a preferential mortgage

Only employees of JSC Russian Railways can take out a mortgage on special terms. Persons who have worked in the industry for more than 3 years are registered. The basis for receiving a subsidy is:

• The need to obtain or increase real estate. Those in need are considered to be people living in a house or apartment whose area is smaller than the established norm in the region.
• Staying in premises that are unsuitable for long-term living. In this case, the square footage of emergency living space is not taken into account.

Mortgage programs and support conditions divide all borrowers into “standard employees” and “young professionals.” The latter include full-time graduates under 30 years of age who have received higher or secondary vocational education. Upon completion of their studies, they must be employed by JSC Russian Railways no later than 3 months in advance.

Young professionals can apply for a subsidy regardless of their actual work experience. This requirement is not waived for other employees.

It is worth considering that not all railway employees will receive a subsidy. Only those whose profession is included in the list of scarce and in demand can count on preferential conditions. It is compiled by the responsible department of Russian Railways. In other words, assistance is provided to those people whose professional skills the railway needs.

If an employee was transferred from another region, his service is not considered interrupted. In this case, a subsidy will be provided if the person does not have his own real estate at his place of work.

The borrower can purchase housing on the primary market, accredited by Zheldoripoteka, or on the secondary market.

The subsidy is calculated in this way: accounting standards for living space for each person are taken into account, in accordance with regional legislation. If there is no real estate at all, the general norm is taken as the base; if there is any property, its area will be deducted, and subsidies will be provided in terms of expanding the living space.

In other words, Russian Railways pays only that part of the mortgage that will supplement the lack of living space to the norm.

Required documents for registration

To apply for a preferential railway mortgage, you need to prepare a package of documents. The list must include:

• passport of a citizen of the Russian Federation;
• SNILS;
• ticket for men under 27 years of age;
• diploma of completed education;
• work book;
• income certificate.

Please note:
The above documents are used to make a decision on granting a railway mortgage. If a person has additional income in other organizations, the list of papers must include an employment contract concluded with the employer, as well as a certificate of income for the past calendar year and months of the current calendar year.

Documents for registration to receive corporate support are provided separately. The applicant must present the following certificates:

• about income according to Form 2 of personal income tax for the last 6 months;
• about the area of ​​the apartment from the BTI;
• about property owned by all family members;
• on the number of persons living in the current premises.

The list of documents may differ; this will be reported separately.

Obtaining a mortgage as an employee of Russian Railways

An employee of Russian Railways who has demonstrated their need for housing can become a participant in the mortgage program. Certain requirements are imposed not only on the borrower, but also on the property that he chooses for himself. The employee is required to collect a package of documents and perform a number of actions.

What will you need?

To begin with, a person must collect a list of documents to receive corporate support.

1. Documents characterizing the housing of the employee and his family for the last 5 years (certificate of residence, registration certificate, copy of documents on ownership of real estate).
2. A BTI certificate and an extract from the Unified State Register of Real Estate about the absence or presence of real estate for all family members.
3. Certificate from the employer about the position held.
4. Copies of passports of all family members, marriage certificates, documents of children.
5. Documents confirming benefits.
6. Referral to work, copy of work record book.
7. Application for registration from the HR department.
8. Application form.

Step by Step Actions

The borrower must first register as a housing owner with the city administration. Then, at his place of work, through the HR department, he puts him in line for mortgage lending. On average, the wait takes 1.5 years. When your turn comes, you need to contact Zheldoripoteka.

Next, you just have to choose a property according to your requirements.

How to apply for a Russian Railways mortgage?

Getting a subsidized mortgage from Russian Railways is much more difficult than taking out a classic home loan. If a person wants to take part in the program, they must follow the following procedure:

1. 
   Register as a person in need of improved housing conditions.

   To do this, you need to contact your place of work and provide a package of documents.
2. Wait for a decision to be made. The submitted documents are checked. If a person does qualify for a corporate subsidy, they are included in the registry of applicants. Then a meeting of the housing commission is held. After time has passed, a decision is made to provide corporate assistance and the amount is approved. The corresponding decision, together with an extract from the protocol, is sent to the department in which the employee works. Additionally, information is transmitted to authorized banks with which cooperation is carried out, as well as to Zheldoripoteka CJSC. A positive decision is valid for 3 months. If a person does not have time to take advantage of the subsidy, the period may be extended for a similar period based on the decision of the commission. The head of the department in which the employee works must make a corresponding request. If an application for extension of the term is not submitted, the right to a subsidy for the Russian Railways mortgage is lost. The person is deregistered without their restoration.
3. Having learned about the approval of the subsidy, the citizen must apply for a mortgage. To do this, you need to contact the bank with which Russian Railways has a partnership agreement. The financial institution will review the application. If the citizen satisfies the established requirements, the company gives consent for the home loan.
4. Select a suitable premises and offer its owner to conclude a deal. If the person agrees, a preliminary purchase and sale agreement is drawn up between the parties. Additionally, the potential borrower will organize an appraisal of the apartment. The current owner of the premises is required to collect documents for the property. The list will include technical and title papers, documented consent of the spouse to enter into a transaction if the property is joint property, permission from the guardianship authorities if part of the premises belongs to children.
5. Submit documents for the apartment to the bank. The financial institution verifies the premises' compliance with established requirements. If no errors are identified, an agreement will be concluded with the borrower.
6. Provide a down payment, if there is a need for it, insure liability and re-register the property. Additionally, you have to prepare a mortgage and submit it to the bank. Here the document will be stored until full settlement of the Russian Railways mortgage obligations.
7. Wait until the company transfers funds to the seller. Cash amounts are not provided.
8. Take the loan agreement and deliver it to your place of work. After this, mortgage subsidies begin.

Documents for obtaining a loan

To obtain a mortgage for Russian Railways employees, you need to collect a whole package of documents:

• Application in the form established by the organization;
• Certificate of income 2-NDFL for the last six months or a certificate in the form of the bank;
• Passport of a citizen of the Russian Federation (original);
• Certificate of family composition;
• Military ID (for men under 27 years old);
• A certificate from the BTI indicating the area of ​​the property;
• A document from Rosreestr stating that it is owned by family members;
• Work record book (copy certified by the head of the HR department);
• A copy of your university diploma (for young professionals);
• Certificate of compulsory state pension insurance;
• SNILS.

Those who have another income or work part-time must provide a copy of the employment contract, tax return, personal account statement or any other document confirming the presence of additional income.

To receive a loan at a reduced rate, you must present documents confirming participation in the corporate mortgage subsidy program. These include:

• Extract from the employee register for the provision of a mortgage;
• Extract from the protocol of the Housing Commission of Russian Railways (if available);
• Covering letter from the Russian Railways Housing Commission (if available).

Once the application is approved, you will need to prepare documents for the property. For those who plan to purchase an apartment in a new building, it is enough to bring to the bank a package of constituent documents for the developer (Charter, extract from the Unified State Register of Real Estate, protocol on creation, etc.) and an equity participation agreement.

If you are planning to buy a finished home, you will need to collect the following papers:

• Home Valuation Report;
• Seller's certificate of ownership of the property (if available);
• Extracts from the Unified State Register of Real Estate, apartment (house) register, personal account;
• The purchase and sale agreement or any other document confirming the ownership of the property by the seller;
• Cadastral or technical passport.

Valuation of an apartment with a railway mortgage

Attention
The appraisal of a mortgaged apartment is a mandatory procedure that is performed regardless of whether a corporate support facility is used in the process of obtaining a home loan or not. It is important for a financial institution to know that the loan will be secured by liquid collateral. Otherwise, if the terms of the contract are violated, the company will have difficulty selling the property.

To carry out the assessment procedure, a specialist who has the right to conduct such activities is invited. Often, a financial institution enters into an agreement with specific companies whose services it asks clients to use. The specialist studies the property, takes into account its position, condition, takes into account the market situation, and then prepares documentation that records the final price of the premises. The appraiser's services are paid for by the borrower.

Railway mortgage insurance

Insurance significantly increases the cost of your mortgage. However, banks are trying to encourage citizens to buy a policy. For financial institutions, this is an additional way to minimize risks. First of all, you have to buy mortgage insurance against destruction or damage to property. It will not be possible to avoid purchasing a policy when applying for a mortgage from Russian Railways. The need for it is stated in Article 31 of Federal Law No. 102 of July 16, 1998. Additionally, banks are asking for life and health insurance. When it comes to a railroad mortgage, purchasing a life insurance policy is not necessary. However, refusal to take out insurance will increase the interest rate by 1%.

If real estate is purchased on the secondary market, title protection is additionally required. However, insurance is also voluntary. But refusing it can affect the likelihood of a positive decision on your mortgage application.

Program conditions

The loan terms have rates for different people, young and experienced professionals:

• For starting employees, a mortgage is given at 10.5% without a contribution amounting to 15 to 20% of the loan amount;
• For experienced workers, a loan is provided at 12% to purchase an apartment, but the rate is reduced due to mortgage subsidies.

Subsidies are given to railway workers with at least 3 years of work experience in the amount of 7.5%, and to beginning specialists in the amount of 8.5%. The percentage difference is compensated by the company thanks to subsidies.

However, discounts and advantageous offers are not available to everyone, but only to people who are truly in need. Even if you need to purchase documents to confirm your social status, this does not always mean that there will be a positive decision on the mortgage. Loans to railway workers are provided in amounts from 300 to 95,000,000 rubles. Repayment period up to 15 years.

Attention! At the time of the last loan payment, the Russian Railways employee must be no more than 65 years old. In another option, either the amount of monthly payments will be increased due to a decrease in the amount of time for loan repayment, or the application will be refused altogether, despite the length of service and other factors.

Features of repaying a Russian Railways mortgage

Calculation of railway mortgages is carried out according to the classical scheme. The citizen will have to make monthly payments. Additionally, early repayment of obligations is permitted. In this case, you must notify the bank one month before performing the procedure.

It is noteworthy that the corporate subsidy is not transferred in a lump sum. Russian Railways takes on part of the loan payments. If a person resigns from Russian Railways, the subsidy payment stops. For the remaining period of closure of obligations, the standard interest rate will be set at 8–9% per annum.

Liability for violation of the terms of the mortgage agreement

A citizen is obliged to make timely payments under the Russian Railways mortgage agreement. Violation of the agreement may result in prosecution. Fines may be applied to the defaulter, and penalties will be charged on the amount not paid.

Attention

The occurrence of delays can affect the receipt of subsidies. Information about this is sent monthly to the financial service of Russian Railways. If the borrower does not pay the loan for more than 6 months, the citizen will be excluded from the register. As a result, the mortgage subsidy is cancelled.

It must be remembered that a housing loan is provided against the security of the purchased property. If a citizen violates the terms of the contract, the bank has the right to go to court with a demand for the sale of the encumbered property. The proceeds will be used to pay off the debt.

Reasons for refusing a mortgage from Russian Railways

If a citizen has received a subsidy, this does not mean that he will be given a mortgage. The decision to provide funds is made by the bank. Issuing mortgage loans is a company's right, not an obligation. Therefore, the application may be rejected without explanation. The most common reasons for making such a decision are:

• bad credit history;
• unstable financial situation;
• the citizen has other outstanding loans, and the total burden exceeds 50% of earnings;
• the borrower has not previously taken out loans;
• an incomplete package of documents was provided;
• The citizen does not have money for the initial payment (if there is a need to provide the amount).

Advantages and disadvantages of a railway mortgage

The main advantage of using a Russian Railways mortgage is the ability to obtain a housing loan on acceptable terms. By using the service, the borrower will be able to save significantly. At the same time, Russian Railways attracts and retains good specialists in this way, and also solves personnel problems in the regions. However, there are also quite a few disadvantages:

• the choice of real estate is limited;
• You will have to wait to take advantage of the subsidy;
• You can use a limited number of banks;
• If a citizen does not have time to use the service within three months, he will be excluded from the program.

Advantage of the program

The extension of the collective agreement of the OAN Russian Railways until 2020 means the preservation of preferential conditions within the framework of:

• Standard social package;
• Social package with equity participation;
• Subsidized social package.

An integrated approach to the housing issue provided the program with serious advantages:

1. Favorable conditions for the client – ​​a significant part of the interest is paid by the company;
2. The size of the subsidy for a young family is proportional to the number of children born during the mortgage period - this significantly facilitates loan repayment.

The disadvantages include the fact that not everyone who works in railway transport can participate in the project - there are restrictions on age, length of service, and status. If a program participant leaves the company before full settlement with the bank, he loses all his privileges and continues to pay the housing loan on a general basis.