Which apartments are suitable for a mortgage on the secondary market?

Mortgage for a New Building from Sberbank - calculator, conditions and documents

alyatina

Today, in a difficult economic situation in the country, a mortgage for a new building from Sberbank is more relevant than ever. But few people are familiar with the nuances of housing lending. Therefore, in this article we have collected relevant information that will help you choose the most favorable conditions.

What is considered a new building for a Sberbank mortgage?

In a broad sense, “new buildings” are considered to be those apartments that are sold directly by the developer. If the owner of the premises is an individual, it already belongs to the secondary housing market. Even if no one actually lived in the apartment, and it is sold immediately after purchase.

Sberbank limits this concept even more. As part of its mortgage programs, housing in a new building can only be purchased from developers verified and accredited by the bank. A complete list of performers falling into this category is presented on the website domclick.ru.

Availability of necessary documents.

To complete a transaction, the bank requires the seller to have a full package of documents. In turn, this list may differ in different organizations. But, as a rule, it includes the following documents:

Certificate of ownership;
Extract from the unified state register of rights to real estate;
Copies of passports of the owners of residential premises;
Technical passport and cadastral passport;
Certificate from the passport service about registration of residents in the apartment;
Written consent of the owner’s husband or wife, certified by a notary;
Certificate from the housing office confirming that there are no debts on utility bills.

Moreover, in some cases, the bank may request additional documents stating that the owner is not registered with a drug treatment clinic or a psychiatric clinic. And also fully capable.

Mortgage interest rates

If previously it was possible to take out a mortgage loan at 7.4% per annum, in 2020 the mortgage rate for new buildings at Sberbank increased to 8.5%. Moreover, this is the minimum possible indicator, available only to those who have applied for a subsidy program for a period of no more than 7 years. If you take out a mortgage yourself, be prepared to pay the bank annually, in addition to the loan itself, another 10.5% of its amount.

Under certain conditions, the bank may increase the rate. So, if:

the down payment is 15-20% (excluding the upper limit) of the cost of the apartment, the bank commission will increase by 0.2%;
the client refuses the proposed insurance, another 1% will be added to the existing rate;
the client does not have a salary card/account with Sberbank or cannot confirm his income and employment – + 0.3% to the current rate;
the borrower refused to complete documents through the electronic registration service, + 1% to the interest rate.

As you can see, there are enough nuances. If you don’t want to overpay, before concluding a deal, carefully study the current offers, promotions, and conditions.

Special conditions for some developers

If, when purchasing an apartment in a new building, you are choosing between several options, carefully study the information not only about the premises themselves, but also about their owners. Thus, some developers (subject to obtaining a loan for a period of up to 12 years) offer a reduction in the interest rate down to -2%. Others may contribute to the bank's approval of the application. Still others offer good discounts if the amount of the down payment exceeds a certain percentage of the total cost of the apartment, etc.

How to buy a new building with a mortgage: step-by-step instructions

Reading time: 8 minutes(s) Buying your own home for many citizens becomes the most important step in life. However, it often takes several decades to accumulate the required amount, so in the modern world mortgage lending is becoming increasingly relevant.

There are two options for buying an apartment on credit - a mortgage on a new building or purchasing housing on the secondary market. Each of these options has its own characteristics, advantages and disadvantages, which, of course, need to be studied and carefully analyzed before deciding to take such a serious step.

What is considered new construction for mortgage purposes?

Some people mistakenly assume that a new building means a new, recently built house, while secondary housing means an apartment in an old housing stock. In fact, this division is carried out based on the presence of a record in the Unified State Register of Real Estate that the ownership of housing is registered in the name of one or another owner.

The primary fund refers to all apartments for which no one yet has ownership rights. When a house is put into operation, buyers register ownership of the property, and from the moment they receive the certificate, the legal status of the apartment changes to “secondary housing.”

The significant difference between a mortgage on a new building and the purchase of secondary real estate lies directly in the peculiarities of these transactions.

Citizens purchasing housing on the secondary market with a mortgage must only fill out an application once and submit it along with documents for registration to the Federal Registration Service, after which the right to property will be registered.

If a bank client chooses a mortgage on the primary market, then at the construction stage the pledge of the right of claim in accordance with the agreement on participation in shared construction will act as collateral for the loan. Only upon completion of construction, when the apartment is put into operation, will it be possible to obtain a mortgage loan.

What is better: a resale or a new building with a mortgage?

It is definitely impossible to answer the question of what is preferable – a resale or a new building with a mortgage. A person who wants to formalize such a significant commitment must proceed from his individual life situation and preferences.

Apartments on the secondary market are convenient because they can be used immediately. This option implies that the house is already ready, and there is no risk that construction will be delayed. Another advantage is the large selection of options. In this case, the housing will be located in a populated area with developed infrastructure, and literally immediately after obtaining a mortgage, the happy owner will be able to submit documents for permanent registration in the new apartment.

However, when designing such housing, there are also disadvantages. Thus, the apartment must be checked extremely carefully for legal cleanliness. In addition, it is necessary to take into account that secondary housing may be in a worn-out condition and need major repairs.

Apartments on the primary market also have their pros and cons. Firstly, they are noticeably cheaper than similar secondary options, and the difference sometimes reaches 30-50%. By purchasing a primary home, a person will be sure that he is its first and only owner. In addition, in the new apartment he will not have to correct the repair mistakes of previous residents and change communications. Another quite important advantage of purchasing new housing is the presence of a unified social infrastructure - all the neighbors who will surround the happy owner of an apartment in a new building will be approximately his same status and income.

Taking out a mortgage for a new building also has its disadvantages. It should be borne in mind that usually such houses are located far from the city center or even outside it. The long wait for the construction of a house is also important. At the same time, the risk is a completely justified price to pay for the low price of housing, but you need to be very careful when choosing a bona fide developer. Do not forget about the likelihood of shrinkage of a new house - it will occur up to 7 years, regardless of the quality of construction.

How to buy an apartment in a new building from a developer with a mortgage?

The procedure for purchasing an apartment with a mortgage in a new building has its own nuances and specifics. Obviously, years can pass between the purchase of real estate and the housewarming celebration. This feature is due to the fact that the sale of apartments begins at the construction stage, and when the building is put into operation, all apartments have already been sold. There are a number of other pitfalls that need to be carefully studied before undertaking such a responsible procedure as applying for a mortgage for a new building.

A brief step-by-step instruction of the purchase stages is as follows.

Step 1. Search for suitable housing accredited by the selected bank. Step 2. Contact the bank and apply for a mortgage. Step 3. Property assessment – without conducting a market examination of the apartment, the bank will not be able to determine the loan amount. Step 4. Approval of the apartment by the bank. Step 5. Conclusion of a loan agreement. Step 6. Settlement with the seller - money is transferred according to the method applicable by the specific bank. Step 7. Notarization - all documents must be certified. Step 8. State registration – the transfer of ownership is registered, and the presence of an encumbrance (if any) is documented.

Step 9. Insurance (can be taken out before the start of the transaction). Insurance is concluded in relation to the mortgaged property.

Where to start shopping?

The process of purchasing a new building with a mortgage always begins with choosing a bank and a specific object that the potential borrower of loan funds plans to purchase. In this case, you can either choose a specific developer and property, and then look for a bank, or vice versa, choose a bank with the most suitable interest rate conditions and loan term, and then study its accredited real estate properties.

It should be noted that with the first option, it is advisable to start searching for a new building with a mortgage by visiting the office of the developer’s company and familiarizing yourself with the list of banks with which the company cooperates.

With both the first and second options, the conditions and the process of purchasing a home will be somewhat different from standard mortgage transactions. A citizen has the right to apply for a home loan from a company unknown to the bank, but the likelihood of such a loan being approved will be minimal.

It is important to note that in many respects the conditions and the ability to get a mortgage for a new building depend on what stage of construction the property is at. If it is fully built and has passed state registration, there will be no problems with lending. But at the excavation stage it will be extremely difficult to get a loan; it is possible that additional collateral will be required for security.

What documents are needed for registration?

In a mortgage for a new building, documents are considered the main point, and the outcome of applying to the bank largely depends on their preparation. The study and collection of all documentation should be taken extremely seriously, since when searching for an apartment there is always the possibility of becoming a victim of fraud (especially if the shareholder wants to buy an apartment by transfer).

Before the main agreement is signed with the developer, it is necessary to obtain from him copies of documents - certificates of state registration of ownership of the land plot where construction is taking place, permission from government authorities to carry out construction, an act of preliminary distribution of real estate, an investment contract.

The bank may require all this documentation when applying for a loan. The specific list of documents will depend on the credit institution chosen by the potential borrower.

After receiving all the necessary papers and initial approval of the loan application, the borrower must provide the bank with the following package of documents:

citizen's passport;
income certificate (form 2-NDFL);
a copy of the work book;
copies of the tax return and employment contract;
copies of diplomas and professional certificates;
investment agreement or agreement for participation in shared construction (provided by the developer company);
copies of the constituent documentation of the developer company;
a copy of the relevant decision of a legal entity on the sale of an apartment indicating the cost and technical characteristics (provided by the developer);
documentation confirming the right of the developer company to construct and subsequently sell the property;
mortgage documents.

It is important to understand that if a new building is purchased in an accredited facility, the bank already has all the documentation for it, and the borrower will only need to provide a minimum package of documents.

Why do you need an apartment appraisal?

The procedure for assessing a home is similar to the examination for determining the market value of living space. This assessment of apartments in new buildings can be carried out by both special organizations (agencies) and bank specialists.

During an appraisal, the bank and the borrower often want to achieve different goals.

Credit organizations strive to calculate everything in such a way as to reduce the price of the collateral property, so that even in a negative situation on the real estate market, they will be able to sell an apartment if its owner has debts to repay the loan.

The owner of the property, on the contrary, wants the cost of an apartment in a new building to be as close as possible to the market price in order to obtain a larger loan. That is why it is advisable for the parties to agree on the candidacy of the appraiser.

In any case, the bank will carefully study the expert opinion on the appraised value, and in case of significant disagreements, it may insist on a revaluation of the apartment by its appraisers or refuse to provide a loan.

How to register ownership of an apartment purchased under a DDU with a mortgage?

Registration of ownership of an apartment in a new building depends significantly on the construction company. The procedure for obtaining a certificate begins if the developer has passed the acceptance of the object by the state architectural and construction commission, has made a registration certificate for the apartment building at the BTI, has registered the new building with the cadastral register and has registered the object in Rosreestr.

The procedure for registering ownership of an apartment begins with an application to the construction company with which a shared construction agreement (DDU) or another agreement for the purchase of residential premises was concluded.

Stage 1. The developer must provide the apartment owner with the following documents:

act of acceptance and transfer of the apartment;
implementation of an investment agreement for construction work;
copies of documents on the commissioning of the constructed house and its acceptance by the state commission.

It is important to note that residents are often asked not to bother registering property rights, entrusting this procedure to the developer. This service will be very expensive - up to 2.5% of the cost of the apartment.

Stage 2. Contacting the BTI. Ordering documentation with a technical description of the object:

technical passport;
cadastral passport;
floor plan with explication.

After the procedures described above, the shareholder must wait until he receives the keys to the apartment and begin registering ownership.

When can I register in a new building with a mortgage?

It is possible to register a new building only from the moment when ownership has already been registered, otherwise it is impossible to do this.

After collecting all the documents and obtaining ownership of the apartment, the owner can already register himself, his family members and anyone else he wishes at the new address (only by agreement with the bank). To do this, you will need to submit the following documents to the nearest MFC:

registration application;
passport of a citizen of the Russian Federation;
documents confirming the ownership of housing.

What to do after receiving the keys?

If the bank client has already received the keys to the apartment, it means that all the main difficulties are behind us - the house has been accepted and you can live in it. However, this is not the final stage of the deal.

The next step will be the conclusion of an agreement with the management company for the maintenance of the building and payment of operating fees - this condition is often taken into account in the share participation agreement. The next step is to hand over a memo to the client on the operation of the premises, as well as documents for meters and keys to the mailbox. After this, the shareholder can begin repair work, while simultaneously registering ownership.

To register ownership rights, you must contact the territorial body of Rosreestr or the MFC. To do this you will need the following package of documents:

owner's identification card;
title document or agreement with the developer;
mortgage agreement;
written consent of the mortgagee (bank) on the possession and use of property;
all the above documents received from the developer and papers from the BTI;
payment of state duty in the amount of 2000 rubles.

According to the law, the period for registering ownership of residential real estate should not exceed 3 months. If everything is in order with the papers, the procedure lasts up to 18 days.

Which banks offer the most favorable conditions?

At the moment, many large banks in the country offer to take out a mortgage for a new building. A potential borrower needs to carefully study the conditions in order to choose the most suitable option for himself. An important nuance is that, unfortunately, well-known banks rarely offer the service of obtaining a mortgage without a down payment.

When studying bank offers, you should keep in mind that when purchasing a home with a mortgage, in addition to the main tax deduction, the owner can also receive a deduction for the loan interest paid (return 13% of the actual mortgage interest paid).

Sberbank of Russia

The largest bank in the Russian Federation offers quite favorable lending conditions for primary real estate.

The loan amount starts from 300,000 rubles, there is no maximum threshold, but it should not exceed 85% of the contractual value of the mortgaged housing or 85% of the assessed value of the property. The mortgage is issued for a period of up to 30 years at an interest rate of 7.5% (for military mortgages from 9.5%). The down payment is 15%.

You can learn more about the bank’s offer here: https://www.sberbank.ru/ru/person/credits/home/buying_project.

VTB

VTB 24 offers its clients to obtain a mortgage for a new building in the amount of 600,000 to 60,000,000 rubles at an interest rate of 9.3%. The loan term reaches 30 years, the down payment is equal to 10% of the value of the purchased property.

It is important to note that the bank does not require permanent registration in the region in which the client applies for a loan.

On the official website of the bank, information is presented at the following link: https://www.vtb.ru/personal/ipoteka/novostrojki.

Sovcombank

This credit organization allows its clients to purchase a new building with a mortgage with a loan amount from 300,000 to 30,000,000 rubles for a period of up to 30 years. The down payment starts from 10% of the value of the real estate, and the interest rate is 7.9%.

It is important that the bank makes the most loyal demands to the client - the minimum length of service at the place of employment must be 3 months, and the client’s age can reach 85 years at the time of loan repayment.

More details here: https://sovcombank.ru/retail/credits/novostroyka.

Raiffeisenbank

Raiffeisenbank offers to buy a new building with a mortgage, choosing from more than 1,000 accredited properties. The mortgage loan amount for Moscow ranges from 800,000 to 26,000,000 at a rate of 10.25%. For other regions, the loan amount varies from 500,000 rubles.

The mortgage is repaid monthly, in equal payments, for a period of 1 to 30 years. The down payment at this bank involves making 10% of the cost of the mortgaged home.

Link to the bank's offer: https://www.raiffeisen.ru/retail/mortgageloans/kvartira-v-novostrojke.

Alfa Bank

At Alfa Bank, a mortgage for a new building can be obtained at an interest rate of 9.29% for a period of up to 30 years. A down payment of 15% is expected. The credit institution is ready to offer a loan of up to 50,000,000 rubles.

You can study this issue in more detail here: https://alfabank.ru/get-money/mortgage/ipoteka-na-novuyu-kvartiru.

Thus, a mortgage in a new building allows you to purchase a new home, in which the happy new resident will be the first owner. The procedure for obtaining this service from a bank is quite labor-intensive and requires collecting a large number of documents, but it is often much more profitable than buying housing on the secondary market.

Did this article help you? We would be grateful for your rating:

1 0

Credit term

The maximum possible term of mortgage lending at Sberbank is 30 years. However, there are certain limitations. So:

For people whose profession requires early retirement, the time frame will be reduced accordingly.
If you want to receive certain concessions from the developer, the mortgage term should not exceed 12 years.
If you want to receive the minimum interest rate under the subsidy program (subject to all other requirements), you can take out a mortgage for a maximum of 7 years.

These conditions are valid at the beginning of 2020. Up-to-date information on specific mortgage programs is presented on the bank's website.

Documents required to obtain a mortgage for a new building

In order for Sberbank to accept a mortgage application for consideration, the borrower and each of his co-borrowers (if any) will need to collect the following basic documents:

Completed application form for a housing loan.
A passport containing a valid registration stamp.
Documents that would confirm your employment status and financial income.

If you request a mortgage under special conditions, the bank may require other documents in addition to those listed. Thus, a young family will need to provide certificates of marriage and birth of a child (if any), and participants in the “Mortgage + Mat. capital” is a state certificate confirming the right to receive this very capital. You can clarify the list of required documents at the bank’s help desk or at any of its branches.

Suitability for habitation.

Since real estate with a mortgage is purchased as a residential premises, all conditions must be created for the daily living of people in it. Apartments are suitable for a mortgage if they contain the necessary list of amenities and satisfy basic human needs. In turn, this list includes:

Availability of cold and hot water;
Plumbing for bath, toilet, kitchen;
Availability of heating in each living space (rooms and kitchen);
Fully glazed window frames or double glazed windows;
The presence of doors at the entrance and between rooms;
Electric or gas supply for the kitchen stove;
Compliance of the design with the general technical plan of the building.

Requirements for the borrower

If you carefully study the terms of a mortgage for a new building from Sberbank, you will notice that they contain quite a lot of restrictions. So, as part of the basic requirements for consideration of an application:

The borrower has citizenship of the Russian Federation.
The age at the date of registration of the mortgage is not less than 21 years.
Age on the date of payment of the last payment - no more than 75 years (if at the time the application is submitted, the borrower does not confirm his income and employment - no more than 65 years).
If the client does not have a salary card at Sberbank, he must have worked in his last place of official employment for at least six months.
The number of co-borrowers (if any) is up to 3 individuals. The borrower's spouse automatically becomes a co-borrower, unless he/she does not have Russian citizenship, or a marriage contract has been drawn up between the spouses, including a clause on the regime of separate property.

In addition to the basic requirements, there are additional restrictions within specific mortgage programs. You can clarify them at the bank office or at the electronic customer support service.

Suitable mortgage apartments on the secondary market

Lenders have the most complaints about housing from the secondary market. The fact that it was already in operation can lead to various problems associated with illegal redevelopment, inconsistencies in documentation and many other nuances. Each banking organization puts forward individual requirements for mortgage lending. But the bulk of them remain unchanged.

The following describes in detail which apartments are suitable for a mortgage on the secondary market. As an example, the requirements of Sberbank will be analyzed.

Building location

What kind of housing is suitable for a mortgage, taking into account its location? The requirements are:

the building where the apartment is located is not planned to be demolished;
the residential building is located within the Russian Federation;
the apartment is not on the first or top floor;
Property in developed areas, where schools, hospitals, kindergartens and other important infrastructure facilities are located, is welcome.

It is advisable that the apartment be owned by the seller for three years or longer. Otherwise, the possibility cannot be ruled out that relatives will begin to claim the inheritance in the future and may challenge the legality of the mortgage.

Design features and wear

If we consider such indicators as degree of deterioration and design features, the requirements for mortgaged apartments are as follows:

wear and tear of the building where the apartment is located is no more than 70% of the service life specified in the technical passport (data will become available upon contacting the BTI or Rosreestr);
main communications are connected to the multi-storey building;
the building is not constructed from flammable or rotting materials, is potentially safe, and has a stable reinforced concrete or stone base;
the redevelopment that was carried out in the apartment was agreed upon with higher organizations, is legal, and is noted in the technical passport;
There is no visible damage to the building.

When choosing an apartment for a mortgage, you should weed out from the available options real estate built before 1970, as well as those located in “Khrushchev” and “Stalin” buildings.

You can order a cadastral extract online from Rosreestr for any building located within the Russian Federation. The document is sent to virtual mail.

Interior arrangement

When approving a mortgage, banks take into account the interior design of the home:

availability of a bathroom, heating system, ventilated kitchen;
equipping a battery in every room;
location of windows and doors according to technical documentation.

Windows and doors in an apartment being selected for a mortgage must function properly.

In general, it is important that while the borrower is repaying the debt, the condition of the mortgaged apartment does not noticeably deteriorate, and its market value does not decrease sharply.

How a mortgage is issued at Sberbank for new buildings: procedure and procedure

The procedure for obtaining a mortgage for a new building at Sberbank is not much different from a loan for the purchase of housing on the secondary market. Simplified, the process can be divided into the following stages:

We go to the DomClick website, register (or log in if you already have a “Personal Account” there), find an advertisement for the sale of an apartment that suits us.
Using a bank calculator, we calculate what we need: loan term, loan size, interest rate.
We fill out the electronic form and see which of the existing mortgage programs are suitable for us.
We check that all the data is entered correctly and fill out an application for a mortgage loan.

When all the stages of registration have been completed, all that remains is to wait for the bank’s decision and, if the application is approved, buy the apartment you like.

Sberbank calculator for a mortgage in a new building

When performing actual calculations, most borrowers make mistakes because they do not take into account the personal requirements/conditions of the chosen program. Therefore, in order to avoid problems with further payments, and also to understand on the basis of what amounts the monthly payment is formed, we recommend using the online calculator, which is presented in the article. Thanks to it, you can always get accurate information about the interest rate and upcoming payments.

Mortgage

How to pay a mortgage

When you come to the bank’s office to coordinate work issues and sign papers, the employee responsible for the application will present you with a monthly payment schedule. Payments in it can be annuity (same) or differentiated (gradually decreasing), depending on the chosen program. You can repay your mortgage using any of the following methods:

Deposit cash into your account and then debit it yourself to repay the loan. All basic replenishment options are available: through Sberbank online, mobile bank, etc.
Conclude an additional agreement to the existing deposit/account agreement so that the required amount is automatically debited from it every month.
Issue a written order under which Sberbank will automatically debit a fixed amount from your bank card.
Fill out an order in the accounting department, within the framework of which the employer will transfer part of your salary not to a salary card, but to a Sberbank card/account, from where the money will automatically be debited towards the mortgage. If you choose this option, do not forget to issue a corresponding order to write off funds from the bank.

If the opportunity arises to repay the loan ahead of schedule, you can do this at any day. You can deposit the remaining funds through the bank's cash desk or through Sberbank Online.

On what terms are credit loans issued and where are the most profitable ones?

Primary housing involves high risks: the developer may not have enough funding to complete the house, or he may simply stop fulfilling his duties, the house may not pass state certification. organs and so on.

Because of this, the conditions for this type of mortgage loan are sometimes strict :

The down payment, as a rule, is kept at the level of 15-20% of the cost of the apartment.
High interest rate - from 9.1% per annum at VTB-24 and Bank of Moscow, the average bank rate in the regions of Russia - from 11.2% per annum.
The bank will present special conditions for documents confirming the borrower’s solvency compared to mortgages for secondary housing - the borrower’s total working experience must be from three to six years, depending on the bank, only official income certificates in form 2-NDFL are accepted.
The maximum loan amount, as a rule, does not exceed 30 million rubles.
The borrower must, firstly, be a citizen of Russia, and secondly, must be registered in the same region where the bank branch is registered and where the primary housing being purchased is located.
Due to the high quality of new housing, as well as thanks to new methods of certification of buildings, banks are confident that even after 30-50 years this housing will not fall into disrepair. As a result, the maximum loan term rarely falls below 30 years.

Mortgage without down payment

One of the main conditions for obtaining a mortgage from Sberbank is that the borrower makes a down payment in exchange for at least 15% of the cost of the apartment. However, some categories of citizens may qualify for approval of an application without fulfilling this requirement. These include:

young families where the age of both spouses does not exceed 35 years;
citizens of the Russian Federation who do not have their own housing;
persons who have been on a waiting list for subsidized housing for over 10 years;
other categories of citizens falling under the conditions of time-limited promotions or programs.

When a borrower applies for a mortgage without a down payment (if the lending program allows this), Sberbank employees carefully study his living conditions, financial situation, and financial activity. In some cases, based on these indicators, the bank may refuse to provide the borrower with preferential conditions.

Which apartment cannot be taken out on a mortgage?

There are a number of cases when the bank will definitely not approve the selected property. So, which apartment cannot be purchased with a mortgage:

Pledged under another loan obligation. There is such a thing as a subsequent (secondary) mortgage (), when double collateral of real estate is allowed, but it is very rare. Usually banks immediately refuse a loan for the purchase of an encumbered apartment.
There are legal claims of third parties. Which apartments are not suitable for a mortgage in this case? For example, when there is a trial regarding real estate.
The house is dilapidated, in disrepair, subject to demolition, it is planned to resettle the residents for other reasons.
High degree of wear and tear of the structure, more than 50-70%.
With wooden ceilings. In the event of a fire, the collateral may be completely destroyed.
Unauthorized redevelopment or reconstruction has been carried out. Apartment owners will have to legitimize the changes or restore the property to its original condition. Unauthorized redevelopments that the mortgage bank will allow are described in another article.

Recommended article: How and where to buy a repossessed apartment for debts
Each bank independently develops requirements for which apartment is best to take out a mortgage. The fact is that real estate will act as collateral, that is, a guarantor for the fulfillment of the borrower’s loan obligations (). In case of non-payment of the debt, the creditor has the right to sell the property through the court and close the mortgage with the proceeds (). If the apartment is illiquid, it will be impossible to sell it at the required price.

Are there deferments for such a loan?

In life, situations often arise when the financial burden increases so much that it becomes unbearable. In such cases, the client can contact Sberbank with an application to obtain loan refinancing (reducing the amount of monthly payments with a proportional increase in the repayment period) or mortgage “holidays” (when only interest is paid) for 1-3 years. However, the grounds for obtaining a deferment must be compelling. These include:

Dismissal of the borrower from his job (provided that he can confirm that he is actively looking for a new one).
Documented fact of salary delays.
The borrower's loss of ability to work for a long period of time (confirmed by a sick leave certificate) or the need to care for a seriously ill relative, which arose after the mortgage was issued.
The birth of a child in the borrower's family.
Force majeure circumstances (fire, flood) that caused significant harm to the health or property of the borrower.
Death of a close relative of the borrower or one of his co-borrowers.

However, you need to understand that even if there is a difficult life situation, the bank reserves the right to refuse the borrower. As a rule, the possibility of restructuring and/or suspension of mortgage payments is specified in the agreement. When signing the papers, do not forget to clarify this point with the operator.