Mortgage takes almost every young Russian family (8 out of 10) or every third resident of Russia. Just because of the overwhelming majority of Russians this is the only real way to find their own living space. And every fifth mortgage borrower sooner or later asks the question: is it possible to take a deferment on the mortgage? This is explained by the precarious position of the consumer market, the heavy financial burden of the mortgage and the permanent crisis in the country’s economy. Plus, the desire to start a family. A delay in the mortgage at birth is almost inevitable. The decisions to delay the banks are different and different.It all depends on the policy of the financial institution, because at the legislative level there is still no movement in this country in this country.
Reasons to revise mortgage terms
Firstly, the loan amount must be at least 500 thousand rubles in order to have at least some chance of a positive verdict. Suppose most mortgage loans overlap this amount. But, and secondly, in fact over the past year it turned out that the debt restructuring procedure under this law works only on paper, and many individual bankrupt individuals are so “bankrupt” that they can not pay the expenses of the judicial-state institutions 10-20 thousand rubles on average). Therefore, the deferment of payment on mortgages at VTB 24, Sberbank and other banks remains a matter of personal agreement. What are the reasons for the temporary suspension of repayment of a mortgage loan? In total, there are three:
- Deprivation of a permanent source of income. Almost always it is about losing work. But an important remark – the dismissal should be independent of the will of the borrower. That is, the debtor from any side should not be considered guilty of having lost his job. For example, bankruptcy of an enterprise, compulsory staff cuts, etc. If a person who took a mortgage loan quit on his or her own was thrown out for disciplinary violations, then this fact is not considered a good reason.
- Illness of the borrower or his close (wife / husband, mother / father, daughter / son, siblings, grandparents), which may require expensive treatment and causes disability for some time (up to disability). This also includes the death of a loved one.
- Postponement of the mortgage at the birth of a child – in Sberbank is a good reason. When children appear in the borrower’s family, the suspension of payments is almost inevitable. Pregnancy, childbirth and the next few years mean that parents will spend a lot of time, effort and finances on a baby, baby or toddlers. Of course, this forms a major shift in the family budget. And it almost always turns out that it is unrealistic to make monthly mortgage payments in full. Sberbank gives a standard two-year deferment of a mortgage upon childbirth.
Options for loosening
Since there is no legal basis, each case has to be analyzed in a separate, individual order. And it is impossible to describe all situations. There are also other reasons why you have to ask the banking institution for concessions regarding the repayment of the mortgage. For example, a change of residence that goes beyond the village (in another city, another area). This also requires serious financial costs, and for their period it is vital to get relief in credit payments. As well as the reasons, one can single out the main options for such relaxation:
- Lower interest rates, ie annual interest on the mortgage will be less. This will lead to a decrease in monthly installments. True, many percent will not throw off. In Sberbank, for example, a typical proposal is to lower the rate by 1.5%. For example, the size of the mortgage is 1 million rubles. One percent of this amount is 10 thousand rubles. Suppose the annual was 15%. This means that over the year the overpayment will be 150 thousand rubles. We divide this number by 12 months, it turns out 12 500 rubles. This is a monthly amount that takes into account only annual interest.And since most often payments in the mortgage are annuity, then such interest will remain (they will be counted from 1 million rubles, even if only one thousand one hundred will remain from the body of the mortgage, for example). But if you reduce the rate by one and half, 13.5% will be released. We count: 135 thousand rubles – interest for the year, divided by 12 months – 11,250 rubles of interest overpayment per month. That is, the monthly payment will decrease by only 1,250 rubles, which is not so much. You can truly feel the difference only if the interest rate is reduced by five. However, such concessions from banks are very rare.
- Reducing the body of the mortgage, ie, the cancellation of part of the debt. It will also reduce the size of the monthly payment, because the rate will be calculated from a smaller amount. For example, from 800 thousand rubles one percent is 8 thousand. And 15% multiplied by 8 thousand is equal to 120 thousand rubles of annual overpayment. Divide by 12 months – we get 10 thousand rubles a month at interest instead of the original 12,500 rubles.
- Stretching a mortgage in time. For example, instead of the initial 10 years, reissue a housing loan for 15 years. It is clear that with the same amount of mortgage monthly installments will decrease. But there is a clear restriction for all banks – no housing loan can be extended for more than 35 years.
- Installment payment. Payment is made every month, but for example, every six months immediately after 6 months. Some borrowers find it more convenient to deposit larger amounts, but much less frequently than with standard contributions once every 30 days. In more detail: what is installment plan.
- Some kind of credit vacation. When a certain period the borrower pays interest only. Or, on the contrary, only contributions to the account of leveling the loan body. But in the first case there will be a very large percentage overpayment, while in the second there is a confusion with the calculation of the interest that the client should pay when the loan is repaid. Defer payment by 100% when the monthly payment is zero, will not work. Before the crisis, a full delay in mortgages at Sberbank could have been provided to everyone for at least a month. That is, the client received the opportunity to pay nothing at all for a month without any penalties – not a ruble. But now it is in the past.
- A rare but possible option for the mortgage sector is refinancing. The client takes one or more loans under more lenient conditions and extinguishes the mortgage. Some banks support special refinancing programs, and the client can take such a loan in the same bank where he took a mortgage. In other cases, you will have to contact another financial institution.
Stages of revision of the loan agreement
The first four points are called restructuring. Restructuring can help AHML (Agency for Housing Mortgage Lending). This implies renegotiating the contract. That is, a new agreement is being drawn up, in which the new terms of the loan, the rights and obligations of the parties are written. However, borrowers should be aware that the period for deferment of mortgage payments at Sberbank, at VTB 24 and in general at any bank (private or public) is limited. Debt relief can not last more than 5 years. An exception is one of the restructuring options, when a loan is stretched over time to reduce the size of regular contributions. How to take a delay or renew the contract on more benign terms? Three steps:
- collection of documents;
- submission of a written application for reviewing the contract to the bank office (preferably this in person, and not by e-mail);
- positive or negative verdict of the bank.
Documents are needed different, it depends on the nature of the reasons for financial difficulties:
- Passport of a citizen of the Russian Federation (always and everywhere).
- Mortgage agreement. Preferably the original, but can get off and copy. This is also a mandatory document in any case.
- If the borrower has lost his job, then one of the following documents must be submitted: a letter of resignation in the workbook with the employer’s signature, a certificate of registration as an unemployed person at the labor exchange, a tax certificate of income in the form 2 for several months). You can attach all three papers at once.
- If there are health problems, then a certificate from the attending physician (s) is needed, and it is also advisable to provide a copy of the hospital card where the necessary medicines are indicated (so that a bank employee can check their cost).
- Postponing a mortgage upon the birth of a child will require a birth certificate. You may need proof of parental rights.
- Other documents. For example, confirming force majeure (fire or flooding in the house, loss of a car in an accident, etc.).