On May 1, 2010 Mortgage loans to participants of the Moscow city program "Social mortgage" become more accessible: Commercial Bank "Moscow Mortgage Agency (MIA KB) participating in this program since 2005, has lowered the interest rate to 9,5% per annum. It's even smaller than it was before the crisis. Moreover: since 2005 the rate of social mortgage for the first time dropped below 10%. In addition, mortgages became available and waiting for Moscow, the city received a grant for the purchase or construction of residential premises. Now they can take the missing to improve living conditions amount to the same conditions as participants in the program "Social mortgage", ie under 9.5%. And you can choose accommodation, both in the secondary and primary market of Moscow and Moscow region. On innovation in this program tells the magazine about real estate Lada Krasnov, Deputy Director General, Board Member CB "Moscow Mortgage Agency. - Lada V., what is the situation today in the mortgage market, and social and commercial? Whether to activate it over the last six months? - We are working closely with members of the city program "Social mortgage", on which a waiting list can buy a home in the city of Moscow with the use of mortgage credit. Since early this year issued more than 600 credits, and we expect that in the second half, the flow of applications increased. By the end of the year on our forecasts will be issued up to 3500 credits. This is due to the fact that now increased the number of proposals from the city, and the waiting began to participate more actively in the program. In addition to the "social mortgage" rate decreased to 9,5%. In addition, under the same conditions (ie under 9.5% per annum), we have to lend not only waiting list, purchase apartments in the city of Moscow, but the waiting list who have decided to use the subsidy for housing and not have to buy it city, and on market conditions. In this case, the credit subsidy is considered by us as a down payment. And if the waiting list before receiving grants are usually invested in housing during the construction phase, but now they have a real opportunity to acquire a ready secondary market. This offer is active in demand, as evidenced by the large flow applications. A Commercial mortgage our rates start at 12% per annum, subject only to minimum commission. And today we get to 15 applications a week. How are revenues - increased if the number of applications for the social mortgage due to a decrease in lending rates? - Reduced rates to 1% after all is not as significant given the fact that the program loan amount, on average does not exceed 500 thousand rubles. So hard to talk about increasing applications in connection with this point. But for some borrowers who have little income, and in particular for young people, this reduction is, of course, it was noticeable, especially as today, to increase the likelihood of obtaining the loan, potential borrowers show, above all, income, confirmed by Certificate 2-PIT. - How to be confirmed income for "social mortgage"? Can be taken into account informal income, and how? - To receive the credit in our bank borrower must officially run, and in last place of work - at least 6 months, and his income is the primary place of work is confirmed by reference 2-PIT. But the calculation of the loan amount can be accounted for and other revenues. If a person works part-time, and it is formalized, it is usually available statement of earnings from the second job. And in other cases, income can be confirmed by the declaration of the bank, indicating the additional revenue. We appreciate the profession, qualifications and experience of the potential borrower, and if these indirect factors suggest that it may receive the declared income, we will consider them and take as an extra. For example, a person working as a teacher, it is clear that his skills allow him to moonlight as a tutor, and she claimed in the market, and hence the level of its total revenue could actually be higher. - When deciding to grant a mortgage loan takes into account the incomes of all homeowners? - Take for example a family of six people: grandparents are retired, their daughter and her husband work, and they have two young children, of course, is not working. According to the city program they will be the owners of purchased housing. Considering the income of the family, we understand that grandparents have a pension, guaranteed by the state, and if the documents to retire, we do not take into account the costs of the grandparents in the expensive side, but do not consider the pension as income families. We consider the main income working family members, ie daughter and her husband, who will serve the borrowers on the loan. If the grandparents do not submit documents to a pension when calculating household income will be considered only earnings of working members, and the expenditure part of the increase in the amount of maintenance costs of retirees. If in such a family there are adults already working children, we take into account their income and they have also become a co-borrower on the loan. Apartment + repair - Have there been any more changes to the program "Social mortgage" but rate cut? Or maybe there is some plans to change it, and further improvement? - In addition to loan rates and the fact that the conditions of the social mortgage is now extended to the waiting list who receive city housing subsidy, all maintained at the same pre-crisis socio-oriented level. Minimum down payment is 10% of the loan amount and maximum duration of a mortgage can be up to thirty years, as total family income is taken into account, and all family members become homeowners, including minors. In general, the program is very well developed and there is little else it could be improved. Further improvement, primarily due to software that is installed in the bank. The new software will significantly shorten the review process. We also improve other loan programs, and now just expanding its product line. Already has a program loan for the repair and home improvement. This loan is given to those who have already bought an apartment with the use of a mortgage loan if you need a loan for repairs and other personal needs. The rate for this program starts at 13% per annum. I believe that this rate is quite lift and comparable with the rates on consumer loans offered by other banks. It is worth noting that the loan for the repair and improvement can take not only on the property, which has already established the right of ownership, but also on housing, which is only issued in the property. This credit can get, especially those who are credited on social programs mortgage. Also good borrowers from other banks (no problems with servicing the debt), we offer refinancing of previously received loans. In connection with a decade of our bank by October 1 this year, these borrowers have the opportunity to refinasirovatsya at a fixed rate of 12% per annum in rubles. Thus, we are open to good borrowers who are in crisis were forced to take mortgage loans at higher market rates. Buy a new building or an apartment for secondary housing? - Now for a mortgage loan under 9.5% per year can expect a waiting list and who took the grant. Are there many who want to take a mortgage under this program? And that usually buy: second homes or new construction? - Wishing to quite a lot. We have tried to bring relevant information to the waiting list, including through the district of Moscow. Under this program, people usually try to buy the cheaper second homes on the outskirts of Moscow, starting from the grant. Their opportunities in the choice of housing is now enhanced by mortgage lending. As regards new buildings, we are ready to work primarily with developers, are building and recording contract with a buyer within the Federal law № 214. KB-MSA may issue a credit to the object of every builder in Moscow and Moscow region, operating from 214 law? - Yes, of course. - When deciding on a loan waiting list to receive a grant, you also are granting them formal and informal income? - Yes, exactly the same as for "social mortgage." - With such a low lending rate, which has been introduced in the MSA, and the same credit terms for receiving a subsidy and who chose social mortgage that you think more profitable: to buy housing on the program "Social mortgage" or receive a subsidy? - In the waiting, the city receives a housing subsidy, there is freedom in the choice of the acquired property. A social mortgage limit the supply of the city and interesting to those who have long standing in the queue. Because the already low cost of housing is discounted with a certain ratio depending on the number of years spent in the queue. - Toughened whether KB MSA requirements for borrowers in connection with the crisis? - Yes, especially to those who take commercial loans secured by existing housing. Also increased requirements for quality assessment of an independent appraiser. Loan processing: What is the procedure - how quickly today can receive a mortgage with your bank? - The process of loan starts with the collection of documents by the borrower for further assess the possibility of its issue and determine its size. Based on documents provided to prospective borrower within three - five working days, issued a notice of acceptance of a loan or a failure. Also, if approved, the customer is informed on what kind of loan he can count. And then a potential borrower begins to search for a suitable property and a term loan depends on the duration of the transaction on its acquisition. For example, an alternative transaction and may take six months. It is worth noting that the notice of availability of credit issued by our bank, valid for three months. For the renewal notice to the client to update the documents on income. When the housing is chosen, the bank provided a package of documents on him, is real estate appraisal and competency of the transaction with her. At this stage, the rate of the decision depends on the documents submitted. If they are granted in full, then the check will not last long. After she passed, the application shall be submitted to the credit committee, and followed the procedure directly for processing and issuing of credit. Credit history: how to check - More's refusal in connection with the crisis, and what their main reason? - Naturally, there are potential borrowers, which we deny, especially those who have bad credit history or income does not find confirmation. - How do you check your credit history? - Credit history to voluntarily fill out the borrower. If the borrower is loyal to the bank, and was loyal to other banks before it can provide information that would take loans and would not allow him to delay. Also, in a statement on the issue of a loan the borrower usually loyal agrees to check their credit history to the credit bureau. - And if the borrower does not agree to check the credit history bureau, you simply deny all? - No. Waiver or consent to check the credit history of the bureau - is fixed by law the right of customer choice. In crediting bank, there are always ways to check the loyalty of a potential borrower. The stakes in the decision-making procedure will not decrease - may bid on the program "Social mortgage" will fall further in the near future? - Theoretically it is possible, but everything will depend on market conditions and cost of resources. At the rate affects the cost of bank resources, and is, above all, bond funds, which are available on the market conditions. - In your opinion, whether in Russia in the coming years, mortgage rates, not only social, drop to 5-7% (ie, closer to rates in Europe, USA, etc.)? - The State Duma recently passed a round table dedicated to the mortgage, which was attended by leaders of the mortgage market: the representatives of banks, insurance companies, HMLA, etc. During the discussion, participants' views coincided in that the interest rate on mortgages in Russia will seek to reduce, but of course this does not happen in the legislative procedure. Yes, and this can not be done by order, otherwise the banks will only sell products HMLA and compete among themselves for the extra fees. - What are the economic conditions can afford the mortgage rate down to 5-6% per annum? - It's the conditions that allow to attract long-term financial resources at minimum cost.
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