What is a mortgage
The mortgage is a form of collateral, which pledged immovable property remains in the ownership of the debtor, but in the case of non-payment the lender has the right to stand for the implementation of this property.
The word "mortgage" in Greek means "pledge". In Western countries, a mortgage is a fairly ordinary thing, in Russia it appeared relatively recently.
At the moment a huge number of banks offer this service. But there are certain requirements that you must conform and you must have the relevant documents that you must provide to the Bank.
Typically, the mortgage is given under 10-15% per annum and is sufficiently profitable cooperation for both the Bank and the borrower.
One of the banks providing mortgage loans, is VTB 24. In the organization providing the mortgage is possible for both individuals and legal entities. the documents in this case is different.
Documents required for physical persons
If you are an individual, you must provide the Bank with the following documents: the passport of the citizen of the Russian Federation or foreign passport, a copy of the second document proving your identity. They can be military ID, copy of driving license or passport of the seaman. Also, be sure to bring a copy of the work book and certificate on form W-2. This reference can be replaced by a certificate in the form of the Bank, a sample of which you are required to provide there.
Documents required for legal entities
If you are a legal entity, the documents that certify your identity remain the same as those for individuals. in Addition, you must submit extract from the Unified state register of legal entities, an extract from Bank about cash flow in the debit and credit over the past year, copies of documents confirming the credit history and current obligations of the company.
In addition, the Bank may require copies of the forms No. 1 and No. 2, covering the balance sheet and statement of profit and loss of the company, copies of licenses, certificates and patents with the seal and signature of the company.
Documents on the property purchased
All the above documents to confirm your income and person, but apart from them, you have to provide the documents on the acquired property, namely: a copy of the cadastral passport of real estate, a copy of an extract from the house register, a copy of the financial accounts.
When there are minor owners among sellers will need the permission of bodies of guardianship and guardianship. In case the seller is a legal entity, then provided the documents to him.