Commercial banks are ready to issue a mortgage for an apartment with illegal redevelopment. A certain period will be given, during which it will be necessary to contact the BTI to obtain new documents.
Unauthorized redevelopment of premises is an illegal activity if the actions performed are not agreed with the supervisory authorities. In the future, such apartments become a real problem. Especially if you plan to sell the object.
A few years ago, buyers using a mortgage did not have the opportunity to purchase a home, even with minor changes. Today, state-supported banks are also not always ready to issue funds.
Is it possible to take a mortgage with illegal redevelopment
Today, in the struggle for their client, commercial banks began to appear, ready to issue funds for the purchase of housing with illegal redevelopment. The main requirement is that the new owner must, within a year (this period is different for all institutions), legalize the redevelopment and provide documents about it to the bank. Financial institutions insist on meeting the deadlines, since the object acts as collateral for a mortgage.
If you violate the requirement, then there is a risk of facing the consequences:
- The financial institution has the authority to conduct an audit. If the condition is not met, then you will have to pay the loan ahead of schedule.
- In the event of an insured event, insurers may refuse to pay.
- The lending institution may impose a fine.
- In rare cases, the apartment goes to the bank through the court, since it is a pledge.
This circumstance does not in any way affect the interest rate, but the borrower can save money, since the redeveloped real estate is always sold at reduced prices. The buyer may also demand an additional discount, commensurate with the amount, the time spent on the approval of the transformations in all government agencies.
How to legalize redevelopment in an apartment purchased through a mortgage?
This can be done by inviting a technician. He makes an independent assessment, which allows you to establish exactly which hidden and explicit work was performed. If the redevelopment is done in acceptable places, there will be no problems with paperwork. If the load-bearing walls are affected, the kitchen or bathroom has been moved, problems may arise. The technician will put the red lines in the BTI. This may be the reason that no transactions with such an object can be made.
In the event of a sale, the certificate will indicate: "Unauthorized redevelopment", which will become a lifelong encumbrance. The most serious violations are:
- demolition of walls;
- changing the boundaries of bathrooms;
- adjusting the parameters of the apartment by creating extensions;
- destruction of ventilation;
- transfer of water supply and sewerage.
If you decide to buy an apartment on a mortgage, where such work was carried out, it is better to abandon the deal. In addition to the above, the unification of the room and the kitchen can be considered a violation if a gas stove is used for cooking. Redevelopment should not impede the access of services to engineering networks and communications. In addition, it is prohibited to install a battery and a floor heating system on a balcony or loggia. If during the repair work no rules were violated, the housing remains safe, does not violate the design features of the whole house, the BTI will accept a statement and make the redevelopment legal. You will be left with:
- get in hand new documents for the apartment;
- contact the architectural department of the administration;
- submit documents to the bank.
What to look for when choosing an apartment with a redevelopment?
If you take out a mortgage, the bank is more likely to agree to enter into a contract if there is a simple redevelopment. It includes rearranging plumbing, moving a gas stove or batteries, disassembling non-bearing partitions. In this case, the approval takes place according to the sketch, it takes no more than 4 months in the BTI.
A complex redevelopment will take about 6 months. In this case, you will have to spend a lot of time organizing the inspection by various services. Consider this: if the mortgage agreement stipulates that the work needs to be legalized within up to 6 months, you may simply not have time to do it.
In conclusion, we note that the responsibility for uncoordinated redevelopment lies with who is the owner at the present time. Therefore, before buying an apartment, study the cadastral passport and apartment plan, get advice from a real estate agent or lawyer. In some cases, it is easier to find a new apartment that meets your requirements than to deal with a complex redevelopment issue.
