Mortgages for millions of Russians have been and remain the only option to purchase their homes. Is it easy to take a mortgage on Khrushchev, and which banks approve such a loan?
Khrushchev: a legacy of a dark past or a dream apartment?
Mortgage loans are issued both for new buildings and for the so-called "secondary housing". The first option is, of course, good. New apartments have undeniable advantages over the old housing stock, besides, at the initial stage of construction, such housing is several times cheaper. But future newcomers may be afraid to get to an unscrupulous developer. The situation when you took out a loan and are obliged to pay rather large monthly sums, and your apartment is being completed and completed, the house is not accepted in any way or is still at the stage of a foundation pit, is not such a rarity in our country.
Therefore, it is safer for mortgagees to purchase housing that has been built long ago. Signed a contract - and check in. One of the most affordable options for people who are limited in funds (otherwise they would not get involved in a mortgage) is Khrushchev. There are millions of such apartments in the country. Among them there are both very poorly built, on the verge of destruction, and quite worthy. We are talking about warm, still strong houses with unworn communications and located in areas with developed infrastructure. And if the house is also brick, with non-bearing walls inside, then this is just a dream, because the owners have great opportunities for redevelopment.
But - let's be realistic - even a very good Khrushchev house loses its liquidity every year. It is impossible to predict what will happen to such housing in another 20 years (the average term of a mortgage). In addition, a renovation program has begun in the capital. The government has plans to extend it to all of Russia. It is logical that it is unprofitable for banks to issue mortgage loans for such "complex" housing. Therefore, future new settlers, mortgage holders, are very worried about which banks approve such a loan.
Where should the mortgagee go?
Banks in advertising to become homeowners using borrowed funds are trying to bypass the question of whether they issue mortgages for Khrushchevs or not. But in principle, all banks have little specifics in advertising offers. It will manifest itself when you are already seriously contacting a financial institution, show your willingness to collect the required package of documents, prove that you are able to "pull" a mortgage loan.
A mortgage, in fact, is the same loan as any other. But taking into account the rather large amounts and long-term nature, each case is considered by the bank individually and very strictly. Much stricter than when you buy household appliances or even a car. The verification of potential borrowers has become even stricter recently, when the financial stability of the population is in question, as is the stability of the country's economy as a whole.
Newly opened banks can "lure" customers with lucrative offers, but in fact, a lot of "pitfalls" are found. Either the applicants are refused altogether, or they are offered a higher interest rate. Until now, the stories of people who got involved in foreign exchange mortgages are heard.
It makes sense to contact well-known long-standing banks.
- Sberbank;
- VTB 24;
- Uralsib;
- Gazprombank;
- Alfa Bank;
- Delta Credit.
They approve a mortgage for Khrushchev housing, if, of course, the borrower meets all the requirements.
What to look for
- The standard loan agreement for all banks contains a condition that the acquired property should not be located in a house for demolition.
- You should not count on a mortgage for housing in an emergency house and a house that is in line for overhaul.
- There may be a restriction on the year the house was built, but this is not practiced by all financial organizations (for example, Sberbank does not have this).
- The main criterion affecting the issuance of a mortgage loan is the market value of the apartment and the conclusion of the appraisal company on it. The deterioration of the house, the state of structural elements are taken into account.
What will happen to the mortgage apartment if the house is nevertheless demolished?
The mortgage will not go anywhere, because in return the owners will be provided either with another apartment, or will be given monetary compensation. According to the Federal Law "On Mortgage", the loan will cover the property provided in exchange for the old housing, but if the owner of the apartment has chosen compensation, then the bank may demand from this money to close the mortgage loan.
As for the renovation, under the agreement on the transfer of ownership of the residential premises, the bank mortgage will automatically be transferred to the new housing.
