Loan lending: banks. Re-crediting of the mortgage in "Sberbank": reviews

Raising interest on bank loan products pushes borrowers to find profitable offers. Due to this, on-lending is becoming more and more popular. But before agreeing to such proposals, it is necessary to find out, and are they really beneficial in reality?

Reasons for refinancing

Refinancing a mortgage is the execution of another loan with better conditions, the purpose of which is to close the existing housing loan. At this step, those who consider the offers of other banks to be more profitable than those to which they subscribed before are decided.

If earlier mortgage loans were issued at 13% per annum, today most banks offer the same service already at 10-11%. Naturally, such a mortgage will be cheaper. Therefore, reasonable borrowers start looking for financial institutions that will be able to re-credit them. Since banks are not in a hurry to restructure existing loans, the search for ways to refinance becomes a logical and correct decision.

Given the terms for which housing loans are issued, on-lending is very profitable. A decrease in the rate even for a couple of percent will help in this case to save considerably. If the percentage difference is less, then it's better not to over-credit. After refinancing will require the registration of a mortgage in another bank with all the ensuing consequences: the formulation of insurance, the payment of all necessary fees and commissions. And do not forget about how much time and effort will be spent.

Conditions for refinancing

Not all banks can offer loans to their clients. Such a proposal refers to high-risk ones, so an additional reserve is needed to issue such loans, and not every creditor can form it.

Despite the fact that the financial position of the borrower was checked during the registration of the housing loan, on-lending to another bank will require a second check.

Refinancing Requirements

As for any loan, a credit history is important when refinancing. In addition to the standard package of documents required to apply for a loan, the bank will require a valid mortgage agreement and a certificate on the absence of delinquencies and the bona fide performance of loan obligations. Also, the written consent of the current lender for early repayment of the mortgage will be required .

Customer requirements

The current mortgage loan must be issued at least 1 year ago and during the period of using the housing loan, there should be no delay in payments. If you consider re-crediting of mortgages in the Savings Bank, you can note very tempting conditions. But only reliable bidders can count on refinancing.

Different ways of on-lending

As in the case of the initial housing loan, in order to formalize the on-lending of mortgages, banks will require a pledge, which the acquired property serves. For this reason, the client will need to submit documents that will confirm his financial situation and the conclusion of the appraisers regarding the cost of housing.

From the bank that issued the mortgage, it will require formal consent in writing to close the loan ahead of schedule. The creditor making out refinancing, is obliged to transfer money to the required account of bank which at receipt of means closes the credit and removes the pledge from an inhabited object.

For a short period, during which one credit institution has withdrawn the pledge from the property, and the other has not yet imposed it, the client will have to pay higher interest on the loan. Such a measure is a kind of insurance for a refinancing bank. After all, there is no other security for this loan. But as soon as the registration of the pledge is over, a reduced interest rate will begin to operate.

Possible proposals for mortgage refinancing

Those who decide to refinance a mortgage, it is useful to first familiarize themselves with the proposals of several banks. They can differ in the following parameters:

• Interest rates;
• Terms of crediting;
• Amount of loans.

There is only one unchanged condition that all creditors expose. It deals with the purpose of the loan, which is directed only at full repayment of the mortgage in another bank. And sometimes the funds are sent only to repay the principal amount, and interest and other mandatory payments to the borrower will need to be made separately.

Another option for refinancing involves not only payment of the principal debt, but also repayment of interest and other loan payments. Less often a loan is issued that exceeds the amount of payments under the current mortgage agreement. In this case, the client has the right to use the remaining funds, as he pleases.

The bid difference

Mortgage loans involve large amounts of debt, so before choosing a bank, you need to carefully study all the proposals and spare no time in calculating the benefits.

The loans offered by banks can have fixed and floating rates. Already by name it is clear that the former remain unchanged for the entire crediting period. It is very convenient and allows you to plan your expenses in advance.

The floating rate has two components: a constant and a variable. One will remain the same, the other directly depends on external factors, which will be specified in the contract. For a ruble mortgage, it is customary to calculate a floating rate using the Mosprime indicator, which can cause fluctuations on a daily basis.

Along with bank rates, there is a refinancing rate, set by the Central Bank. This is the main instrument that allows you to control the credit interest used by the CBR itself when granting loans to banks. This rate is subject to change, but not more often than once a year.

Currency Mortgage

On-lending to foreign currency mortgages is often not so profitable. Credit in foreign currency may seem more attractive at the time of registration, but the currency market is unstable, and the situation can radically change at any time. At the same time, payments will increase.

In some cases, banks agree to change the loan currency, but not all go to this. Yes, and depend on everything will be from a specific borrower.

Types of refinancing

Changing one loan to another, you can change and its main conditions. For example, to reduce or increase the term of a mortgage, change the loan currency, reduce the interest rate or reduce the amount of monthly payments.

The latter option is the least profitable, since with the reduction of mandatory payments, the term of the mortgage increases, and, consequently, the amount of the overpayment on the loan.

Bank offers

The most profitable is on-lending in Sberbank. Clients' feedback about this organization is mostly positive. Refinancing concerns the whole part of the debt in another bank, and the loan term can reach 30 years.

If the amount of debt does not exceed 1.5 million rubles, it makes sense to apply to RosEvroBank. The term of the contract is up to 20 years, but requires payment of a commission of 0.8% of the amount received.

On-lending in the "Bank of Moscow" is possible even with a small amount of the balance of the debt, at a very low interest of 11.95-12.95% and a long period of up to 30 years.

In cases where the mortgage is very large, Absolut Bank will come to the rescue. He works with loans up to 15 million rubles. The loan period is up to 25 years. But you will need to have insurance from the client and pay a commission.

Do not rely too much on the honesty and openness of credit institutions. Not all banks inform about all forthcoming payments under the loan agreement, which in reality can conceal a lot of pitfalls. Therefore, when deciding on on-lending, it is necessary to study in detail all proposals, requirements for insurance, payment of commissions, etc., so that the desired benefit is not imaginary.