Banking risks in obtaining mortgages for new buildings
When issuing mortgage loans building the banks bear the additional risks associated with the fact that the developer can not finish the house or encounter difficulties in obtaining housing in the building. Only after the state registration of the Bank will be able to register the apartment as collateral.
Obligatory condition of work of banks with borrowers is the conclusion of the contract of share participation in the framework 214 of the Federal law "On joint construction". If the developer does not use this scheme of work, the mortgage is not available.
In connection with the increased risks, some banks offer higher rates for housing under construction - by 0.5-1.5%. Other banks are involved in lending to development projects and are interested in a speedy sale at the facility. Therefore I propose in these homes of the apartment in the mortgage with preferential lending rates.
Most banks do not issue mortgages on the objects on the stage of excavation, only those that are built on 20-30%. At the same time, as the availability can be accredited a separate corps, not the entire object.
The procedure of Bank accreditation, buildings
Bank accreditation includes checking the activities of the developers and investors of the project.
The main documents which the Bank checks the developer in the process of accreditation are: the right of ownership to the land plot, permit for construction, as project documentation.Further analyzed the documents regarding the use of funds of shareholders. Finally, assess the cost and liquidity.
The accreditation procedure can be conducted in two ways:
- check the individual apartments upon request of the borrower is a fairly expensive undertaking, the costs of which are passed on to the shoulders of the borrower, for example, in the form of increased interest rates;
- accreditation of the entire object – allows you to divide expenses between all borrowers, reducing for them the cost of credit.
Is often a multistep approach to accreditation. First, check the developer (the history of the company, the number and quality of facilities, the timeliness of their input), then the constructed object. After that, an individual credit program for each object.
The benefits of accreditation of new buildings in the Bank
Accreditation of new buildings the Bank is the borrower a good indicator of reliability and is an additional guarantee that the facility will be commissioned in time.
As a rule, all banks are independent from each other the accreditation. Therefore, if new development is accredited by several banks, it suggests that the building was checked several banks and evidence of integrity of the Builder.