When you agree to take out a loan for another person in your name, you become a loan donor. This is a risk - a friend or relative may not make payments or go into hiding. Sooner or later, the bank will call and ask you to pay the debt. We consider various options for the development of events.

Good advice

Good advice

Where is cheaper: 10 apps to save on purchases

To keep abreast of promotions and learn about discounts, it is not necessary to surf the Internet or run around shops and collect catalogs. It is enough to install the application on your smartphone - the developer has already done all the dusty work. We have found 10 mobile apps that can help you buy everyday things cheaper. Choose, download and save.

For legal entities

Settlement account in Promsvyazbank

Promsvyazbank is active in the retail segment and also serves corporate clients. In the article, we will talk about what opportunities the opening of a current account with Promsvyazbank gives entrepreneurs, how to do it and how much the service costs.

• New Product

  Ak Bars Bank offers Islamic mortgage

  Ak Bars Bank has developed a new mortgage product, the terms of which comply with Sharia - a set of legal norms and rules of conduct that define the Islamic way of life. Real estate is sold in installments at a price fixed for the entire duration of the mortgage agreement. Clients and the bank pay in equal installments.

  07 May 2019

• Changing rates

  Absolut Bank revised mortgage rates

  Absolut Bank has reduced rates on housing lending programs by 0.25 percentage points. Currently, the credit institution provides loans for the purchase of "primary" and "secondary" housing at a rate of 10.24% per annum. The rate on "commercial" mortgages is 13, 25%. For the purchase of parking spaces, a loan can be obtained at a rate

  22 Apr 2019

• Actual

  Absolut Bank will continue to sell mortgage portfolios

  Absolut Bank decided to develop a service business model, within which the credit institution will leave part of the mortgage portfolio on its balance sheet, and sell part to other participants in the financial market. As part of the adopted strategy, Absolut Bank signed a memorandum on the sale of mortgage portfolios to Alfa-Bank. In 2018

  01 Apr 2019

• Analytics

  Russians lean on ruble mortgages

  In October 2017, the Central Bank stated a positive trend in the movement of interest rates on mortgages. Cheaper mortgage loans contribute to a noticeable increase in the number and volume of loans issued. The current analytics is published on the website of the regulator. In October, mortgage rates broke through the historical low, reaching

  08 Dec 2017

• Surgutneftegazbank extended the terms for issuing partner mortgages

  Until the end of October, Surgutneftegazbank will continue to issue mortgage loans at a reduced rate of 10.35% per annum. The preferential mortgage program applies to real estate objects sold by partners of a credit institution. Among them are SeverStroy Group of Companies, Zapsibinterstroy LLC, Partner-Stroy JSC, RDI company, Housing District Fund

  13 Nov 2017

• Bank "Vozrozhdenie" offers a mortgage without a down payment

  Bank "Vozrozhdenie" offers everyone to apply for a mortgage loan without making a down payment. The offer applies to apartments in the Friday Village residential complex being built in the village of Yurlovo, Solnechnogorsk District, Moscow Region.

  03 Aug 2017

• Changing rates

  Far Eastern Bank lowered mortgage rates

  The minimum interest rate on mortgage programs of the Far East Bank has been reduced to 10% per annum. This rate is provided to those who wish to buy apartments in the primary or secondary real estate markets on the security of the purchased housing. The credit institution has also reduced rates on mortgage programs for shared construction

  02 Aug 2017

• New Product

  Bank Zenit has changed the parameters of the mortgage for military personnel

  Bank Zenith has expanded the range of "military mortgages" and revised a number of parameters for some programs. The changes affected the following products. The "Family" tariff plan has been introduced. It is designed for military families in which both spouses participate in the NIS. The maximum loan amount is 4.6 million rubles for the purchase of real estate

  09 Feb 2017

Every year, mortgages become more accessible to new customers. It is now possible to issue it at record low interest rates. But what about old clients who took out mortgages at relatively high interest rates a few years ago? Of course, refinance your existing mortgage with another bank.

A mortgage is a type of loan that is taken out for a very long term. During this time, anything can happen - the solvency of the borrower, credit conditions on the market and other important parameters often change. In such cases, mortgage refinancing helps stabilize the situation and improve lending conditions. We will talk about where to refinance a mortgage on the best terms in this article.

Before making a decision on refinancing, it is worth carefully studying all the pros and cons of this procedure. The benefits of refinancing are largely determined by its goals. Among the main advantages are:

1. Interest rate cut relevant for those who have issued a mortgage for a long time. Recently, there has been a downward trend in the average percentage in the market. It is important to remember that with a large balance of debt, even a small reduction in the rate can lead to significant savings. In addition, this plus of mortgage refinancing takes place in cases where the interest was increased for other reasons, for example, the borrower could not provide a certificate of employment. If the situation has now changed, you can safely go for refinancing.
2. Reducing the amount of monthly payments. Since refinancing a mortgage loan does not mean keeping the terms, it is not uncommon for borrowers to ask for longer terms in order to pay less. This may be needed in the event of a deterioration in solvency.
3. Removal of encumbrances from real estate purchased in a mortgage. This option is not pure mortgage refinancing. It involves the issuance of a consumer loan in order to repay existing obligations. As a result of the transaction, the apartment will be taken out of collateral and the borrower will be able to dispose of it at his own discretion.
4. Changing the currency of the mortgage loan is of particular importance for those who have issued a loan in dollars or euros. As you know, in recent years, rates have grown significantly. But banks go to meet borrowers and convert debts into rubles.
5. Changing a credit institution to a more comfortable one. For example, the one that is close to home or where you receive your salary.
6. Opportunity to receive cash. This option is suitable for those who need money, but due to mortgage payments in consumer loans, they are denied. Often, a mortgage refinancing program allows you to increase the amount. The balance after extinguishing past obligations in this case can be used at your discretion.

The disadvantages of the on-lending procedure are less than the advantages. However, without knowing them, it is impossible to understand whether it is worth refinancing a mortgage. The main disadvantages are:

1. Most often, refinancing is unprofitable if half of the term of the contract has already passed. The fact is that most mortgage banks establish an annuity repayment scheme (that is, monthly payments are equal). With such a payment at the beginning of the term, the borrower mainly pays interest. The main debt begins to be actively repaid later. If you refinance a mortgage after most of the interest has already been paid, there will be no savings.
2. Additional expenses. Even the best offers of banks most often involve re-assessment of real estate and insurance. Naturally, these services are paid. They eat up some of the savings from refinancing. In addition, some banks in the contract provide for a fee for early repayment.
3. Big package of documents. To refinance traditional certificates from work and real estate papers will not be enough. You will also need to obtain documents from the bank in which the mortgage is currently issued. These may be certificates of the current amount of debt, timeliness and completeness of the fulfillment of obligations.

Thus, before you start choosing the best banks for mortgage refinancing, you should carefully analyze the benefits of this operation. Often, simple calculations make it possible to understand that the savings from the procedure will be less than the overpayment for the remaining time.

Profitable banks for mortgage refinancing in 2019

Naturally, it is not enough to analyze the effectiveness of on-lending. If it is clear that the procedure makes sense, it is important to understand where it is better to refinance a mortgage in 2019. You can, of course, independently search for suitable banks, analyze and compare their offers. However, it is often more effective to turn to ratings compiled by professionals. Experts include in them only those credit institutions, the conditions of which are obviously favorable. The borrower can only get acquainted with the programs and choose the one that suits him.

Favorable service for finding the best mortgage and refinancing offers

Looking for the best mortgage refinance deals? Then we immediately recommend using the service from Tinkoff Bank. The bank itself does not engage in mortgages, but it provides intermediary services in the market for this type of lending. An application submitted on the Tinkoff website is automatically sent to the best mortgage refinancing banks. You will be offered several options from which you can choose a really worthy offer.

The convenience of this lender lies in the fact that absolutely all the preparatory stages take place remotely. It is enough to fill out one form to get approval in several banks. After that, you should choose a suitable lender, and when all the documents are prepared, complete the transaction at the bank branch.

Profitable refinancing program at Alfa-Bank

Alfa-Bank also has a refinancing program, but it implies refinancing of any types of loans, including mortgages in another bank. In this case, there is a limit of 1.5 million for new clients and 3 million if you were already an Alpha client. The interest rate starts from 11.99% per annum.

Thus, if you have a mortgage debt of less than 3 million rubles in some bank and you would like to refinance it for up to 7 years, then Alfa will suit you perfectly.

The advantage of this refinancing program is that it is an unsecured program. That is, having issued refinancing in this bank, you become the full owner of your apartment and can do anything with it. Whether to sell or rent. With a mortgage loan, this was difficult.

Mortgage refinancing from Otkritie bank

Otkritie Bank offers mortgage refinancing of other banks on more favorable terms at a rate of 9.35 percent per annum. An excellent option for those who want to simply improve the terms of the loan at a lower rate, and for those who want to refinance their foreign currency mortgage loan.

Brief terms of refinancing:

• • Interest rate from 10% per annum.
  • Loan amount up to 30 million rubles.
  • Loan term from 5 to 30 years.

• Ability to attract up to 3 co-borrowers.

Leave an online application and you can get a decision remotely by filling out a questionnaire on the bank's website.

Refinancing a mortgage loan at VTB Bank

VTB offers mortgage refinancing at a low rate - only 10.7% per annum. This is the rate provided that the borrower takes out comprehensive insurance. If you refuse voluntary insurance, the rate will be increased by 1%. Also, when applying to VTB, the borrower can count on the following lending parameters:

• loan amount up to 80% of the value of the mortgaged property;
• the maximum amount can be thirty million rubles;
• loan term up to 30 years;
• no commissions for consideration of the application and loan processing;
• early repayment without any sanctions;
• processing time up to five days.

Refinancing offer from Sberbank

Russians are used to trusting Sberbank. It also offers favorable refinancing terms. The rate, if necessary, to refinance the mortgage of another bank starts from 10.9%. This does not require certificates and consent to the procedure of the current creditor.

However, it should be noted that Sberbank assumes an increase in the rate in the following cases:

• if you wish to receive part of the amount in cash for your own needs;
• when combining consumer loans and mortgages.

In addition, the increased rate will be valid until the current loan is repaid, in case of refusal to insure, and also until the registration of a new mortgage.

Refinancing a mortgage loan from Raiffeisenbank

When deciding in which bank to refinance a mortgage, you should pay attention to the offer from Raiffeisenbank. Here you can count on the rate of 9.99% per annum. The credit organization in question offers to refinance not only a mortgage, but also a loan issued on the security of real estate for any purpose. True, the rate in this case will be higher - 17.25%.

The maximum loan amount in both cases will be 26 million rubles. Loan terms can range from one to twenty-five years.

Thus, it is not difficult to choose a suitable bank that refinances the mortgage of another bank. It is important to first analyze how beneficial such a deal is for the borrower. The Mortgage Loan Refinancing Calculator can help you with this.

Borrower/co-borrower participating in income

Co-borrower can be

When refinancing a mortgage

• Official spouse.
• "Civil" spouse Persons of different sexes who have not registered marriage and are not married to other persons. Provided that the Principal Borrower's common-law spouse is the pledger..

• Close relatives Without vesting property in collateral. Borrower and/or spouse(s)/common-law spouse(s) of the Borrower (provided that he/she acts as a Co-Borrower under the loan agreement).

When refinancing a mortgage loan and other loans / receiving additional funds for consumer purposes:

• Official spouse.

Age

With the conclusion of a combined mortgage insurance contract:

• from 21 years old at the time of applying for a loan and should not exceed 65 years old at the time of expiration of the loan agreement.

Without concluding a combined mortgage insurance contract:

• from 21 years old at the time of applying for a loan and should not exceed 60 years old at the time of expiration of the loan agreement.

Citizenship

Any state.

Actual place of residence / work

Must be located on the territory of the Russian Federation.

Minimum work experience

Employed individuals:

• At least 6 months with a total work experience of at least 1 year.
• At least 3 months with a total work experience of at least 2 years.
• At least 1 year, if this place of work is the first for the borrower.

Notaries in private practice / lawyers with their own lawyer's office: professional activity must be carried out for at least 1 financial year.

Owners/co-owners of a business/individual entrepreneurs: the company's activity must be conducted for at least 3 financial years (this category of clients is not credited under the program "Extended refinancing secured by real estate").

Having a phone

A work and mobile phone is required.

Minimum income

at the main place of work after taxation

Borrower:

• 20,000 rubles - for Moscow / Moscow Region, St. Petersburg / Leningrad Region, Yekaterinburg, Surgut, Tyumen.
• 15,000 rubles - for other regions.

Co-borrower:

• 10,000 rubles - regardless of the region.

Credit history

• No bad credit history
• Should not have more than 2 mortgage loans from Raiffeisenbank JSC and/or other banks (excluding refinanced loan(s) and including newly approved one).

Non-financial co-borrower

Co-borrower can be

• Official spouse.

Age:

from 18 years old at the time of applying for a loan and up to 70 years old at the time of expiration of the loan agreement.

Citizenship

any state.

Credit history:

no bad credit history.

Requirements for collateral

Requirements for pledgers

Requirements for mortgagors when refinancing a mortgage loan:

1. The previously granted mortgage loan had a specific purpose (purchase of housing pledged, purchase of real estate with a pledge of other real estate owned) and the main borrower and co-borrower:
   • Married: the main borrower and/or the spouse of the main borrower and/or close relatives (adult children, parents, brothers or sisters (full/half-blood)) can act as the mortgagor.
   • Unmarried (common-law spouses): the principal borrower must be the mortgagor together with the co-borrower.
2. The previously provided mortgage loan was non-targeted (a loan for any purpose) and the main borrower and co-borrower:

Requirements for mortgagors when refinancing mortgage and other loans/obtaining additional funds for any purpose:

1. Primary borrower and co-borrower:
   • Married: The principal borrower and/or the spouse of the principal borrower may be the mortgagor.
   • Not married (common-law spouses): not allowed.

The mortgaged property must meet the following requirements:

In the case of a pledge of an apartment for which the right of ownership has been formalized in accordance with the procedure established by the current law:

1. Have a kitchen / kitchen-dining room and a bathroom separate from other apartments.
2. Be connected to electric, steam or gas heating systems that provide heat to the entire area of ​​\u200b\u200bthe dwelling.
3. To be provided with hot and cold water supply in the bathroom and in the kitchen, to have a central sewerage system.
4. Have plumbing equipment (including a bathtub / shower located on the territory of the bathroom), doors and windows, with the exception of apartments without interior decoration.
5. The possibility of lending secured by an object with unregistered redevelopment must be clarified with bank employees.

The apartment building in which the apartment is located must meet the following requirements:

1. To be built:
   1. For all regions:
      • not earlier than 2000, at least 3 storeys, regardless of the material of the walls.
   2. For Moscow Real estate objects included in the list of houses under the renovation program in Moscow are not subject to lending. and Moscow region:
      • not earlier than 1950, at least 4 storeys high and have brick exterior walls;
      • not earlier than 1950 and at least 6 floors, regardless of the material of the walls;
      • not earlier than 1970 and 5 floors, regardless of the material of the walls.
   3. For St. Petersburg:
      • not earlier than 1930 of construction and number of storeys of at least 4 floors, regardless of the material of the walls;
      • not earlier than 1800 of construction, regardless of the number of storeys and wall material, if there is a major overhaul carried out not earlier than 1960 (if the overhaul was carried out before 1960, the house must be with a metal type of ceiling).
   4. For other regions:
      • no earlier than 1950 with a minimum of 4 floors and brick outer walls;
      • not earlier than 1955 and at least 5 floors, regardless of the material.
2. Not to be in an emergency condition and not to be registered for demolition or reconstruction with resettlement.

In the case of a pledge of claims to an apartment (before registration of ownership):

1. AO Raiffeisenbank provides mortgage loans to refinance debt on mortgage loans of other banks issued for the purchase of rights to claim real estate (at the time of collateralization, ownership of real estate was not registered), located in facilities under construction, being built in accordance with 214- FZ.
2. Only facilities from the list approved by AO Raiffeisenbank are subject to lending.
3. Not applicable when refinancing a consumer / auto loan / credit card debt limit / getting an additional amount for any purpose.

When choosing the most profitable and appropriate mortgage loan, a serious borrower considers dozens of proposals and consults with specialists. But the banking services market is changing under the influence of many economic factors. Increasing competition is pushing banks to create products with attractive conditions for customers. In order for a mortgage borrower to take advantage of new opportunities, there is such a tool for replacing an existing obligation with a new one, such as refinancing. This can be done both in your own and in another bank. Mortgage refinancing in 2018 is especially important due to the reduction of the key rate of the Central Bank of the Russian Federation.

Refinancing: pros and cons

In 2016, the average mortgage interest rate was 15%, and in 2017 it was just over 10%. 8% is predicted for 2018, the government announced the introduction loan programs for housing at 6% per annum . Now is the right time to refinance the loan on favorable terms, although this will require time, effort and money. Before deciding on this procedure, you need to carefully weigh the advantages and disadvantages.

For the borrower

The owner of a mortgage loan may have several reasons for refinancing:

• reduction of interest rate and reduction of monthly payment and total overpayment;
• reduction of the loan term. It is relevant in the case when a bank client has new sources of income, wages have increased;
• increasing the loan term and reducing due to this regular payments in the event of financial difficulties;
• change in the currency of the loan.

The easiest way to do this is with your bank. Strictly speaking, refinancing in this case is more correctly called debt restructuring. A new loan is not issued, the terms of the previous agreement are changed and an additional agreement is drawn up. The advantage is that a minimum of documents is required, however, banks are reluctant to make such changes. In any case, you should apply.

If the credit institution does not satisfy the request in full, proposes minor changes, you should not agree. Many banks refuse to refinance extended or restructured loans. You may lose the opportunity to conclude a more profitable contract.

For bank

Refinancing loans issued by other banks has a number of advantages:

• Attracting a new client;
• Making a profit by accruing interest on new obligations;
• Possibility of further cooperation, offers of other products.

A bank whose client repays the mortgage ahead of schedule through refinancing remains a loser in this situation. He receives income in the form of interest already paid, but this is much less than expected, taking into account which the rate was determined and the risks were calculated during issuance. Often the bank does not give consent to such operations, especially if this is not specified in the contract. There are ways to get around these restrictions.

Search for a profitable option: offers from leading banks

The most difficult stage in the refinancing process is the choice of new lending conditions in a huge stream of proposals. Two basic rules that experienced financiers advise to follow:

• You should not consider options in which the rate is reduced by less than 2%;
• If the agreement provides for annuity payments, then refinancing makes sense in the first half of the loan term.

Annuity payments are monthly payments in equal amounts. These are included in most contracts. The installment includes principal and interest, with the second component dominating at first. Having received a loan, the borrower pays mainly interest in favor of the bank. At the final stage, the situation is changing, lowering the rate by 2-3 points will no longer provide tangible savings.

When choosing a new lender, it should be borne in mind that usually on websites, in booklets, lower rates are reported. The bank can increase them for various reasons:

• Too large loan amount or repayment period;
• Cancellation of insurance;
• Lack of a payroll debit card;
• Any shortcomings found in the requested credit history.

Before visiting the bank, the borrower must do the following:

• Make a list of banks that offer the most favorable conditions for refinancing;
• Choose from them those whose requirements he meets in terms of age, method of confirming income, the amount of remaining debt, credit history, place of registration, etc .;
• On the websites of selected banks, use the mortgage calculator by filling in all the initial information. The program analyzes the specified personal data and reports the amount of the bet that you can count on. It also calculates the new monthly payment and the total overpayment.

Having chosen a suitable credit institution, you need to prepare documents for obtaining a new loan.

Sberbank

In 2018, Sberbank has a mortgage refinancing program at 10.9%, the amount does not depend on the borrower's income. You can add up to five more consumer loans from other banks to the mortgage and repay in a single payment. The rate will be 11,65%. It is possible to increase the amount of the loan, for example, obtaining additional funds for repairs at a mortgage rate. The minimum amount of a refinanced loan is 500,000 rubles, the maximum term is 30 years. During the transfer of collateral from the previous bank, the rate increases by 1%.

VTB 24

At VTB24 the offered rate is from 10.7%. However, the final amount is determined by the bank depending on various factors. The most favorable conditions are offered to participants of salary projects. The loan amount is up to 30 million rubles, but cannot exceed the balance of the principal debt under the previous agreement. The maximum term is 30 years.

Alfa Bank

The most attractive rate of Alfa-Bank 9,49% . Participants of salary projects can count on it. The maximum loan amount is 50 million rubles, the term is up to 30 years. The base rate is 10.49%. Additional funds for personal expenses may be added to the balance of the previous loan. In this case, the rate is higher by 0.5%.

Rosselkhozbank

Rosselkhozbank has the best rate 9,3% when refinancing, a participant in a salary project can receive with a loan amount of more than 3 million rubles. to buy an apartment. Mortgage for a residential building is more expensive - 11.45%. The bank reserves the final decision on the degree of "reliability" of the client. The maximum loan amount, depending on the region, is from 20 to 5 million rubles. Minimum: 100,000 rubles. For the period of transition of collateral obligations, the rate increases by 2%.

Gazprombank

Very attractive Gazprombank rate 9,2% per annum can be obtained subject to registration of three insurances:

• real estate object;
• title;
• borrower.

The maximum amount is 45 million rubles, the minimum: 500,000 rubles. The maximum term is 30 years.

Tinkoff

Tinkoff Bank does not refinance mortgages using its own funds, but only acts as an intermediary with its partners. This is a large list of fairly well-known banks. Tinkoff accepts online applications, negotiates with banks, negotiates rates, provides a list of documents, and resolves other issues.

Required documents

The process of preparing documents for refinancing will take time and money. All data about the apartment: assessment, passport, certificates from the management company, BTI, which the seller collected during the sale, will have to be received by the borrower. To apply, you need:

• Passport;
• Form 2NDFL for the last 6 months;
• A copy of the work book;
• Loan account statement on the balance of debt on the loan;
• A copy of the mortgage loan agreement with the payment schedule.

If the bank approves the issuance of a new loan, you will have to provide real estate documents:

• The conclusion of the appraiser on the cost of housing with photographs;
• Extract from the USRN or cadastral passport;
• Contract with an insurance company with a payment receipt;
• An extract from the house book and a certificate of no rent arrears from the Criminal Code;
• Contract for the sale of housing;
• Certificate of ownership.

An existing insurance contract can be extended if the company is accredited by a refinancing bank. Otherwise, you will have to pay for the policy in another company, and then return the old insurance.

Refinancing procedure

After the new lender approves the borrower's documents and makes a decision to allocate funds, the most important thing in refinancing is transfer procedure.

If the first bank has given its consent, then it removes the encumbrance from the property after transferring the balance of the debt. There is an opportunity to register a pledge with a new lender. Keep in mind that this takes some time. The first months in the new bank, the rate will be higher from 1% to 3%, since the loan has no collateral yet.

If the old bank does not agree with the refinancing, there is There are two ways to transfer collateral:

• Subsequent mortgage. The law allows you to impose a second encumbrance on one property. The apartment will be pledged to two banks. Having received a loan, the borrower repays the previous debt ahead of schedule. This is permitted by the amendments made in 2011 by Law 284-FZ in Chapters 809 and 810 of the Civil Code of the Russian Federation. The advantage is that the consent of the former creditor is not required. The disadvantage is that banks do not really want to be mortgagees of the second stage.
• Loan with suspensive conditions. The refinancing bank gives a loan with the condition that after a certain time interval the borrower will issue a mortgage. For example, Sberbank allocates 120 days for this. The advantage, again, is that you can do without the consent of the former creditor. The disadvantage is that you will have to pay interest at an increased rate before registration.

Another point to consider when refinancing is the tax deduction for personal income tax. It is provided in the amount of the cost of the apartment, but not more than 2 million rubles. and paid interest on the loan is not more than 3 million rubles. When the refinanced loan is closed, for the tax office, this means that the owner has fully paid for the apartment. In order to be entitled to a deduction in the amount of interest on a new loan, the agreement must necessarily state that this is a refinancing.

Personal finance loves the bill. Before you apply for refinancing, you should calculate and take into account every little thing, up to the cost of certificates, extracts, overpayments at an increased rate until the collateral is reissued. This will help not to waste time and effort in vain, but to get real savings.

to potential customers refinancing products for existing housing loans. With the help of on-lending, the borrower can get more favorable conditions on the issued mortgage, including interest reduction, currency change or other parameters. Let us analyze in more detail what is the average mortgage refinancing rate now and which credit institutions are better to apply to.

Mortgage refinancing is the process of obtaining a new loan to pay off existing mortgage debt. The key objectives of the on-lending or refinancing procedure are to obtain more favorable lending terms compared to the current ones and to reduce the credit burden.

The results of refinancing can be:

• interest rate reduction;
• increase in the term for repayment of debt to the bank;
• change in the currency of the loan (especially relevant for foreign currency loans);
• cancellation of additional payments, commissions and fees;
• consolidation of all existing loans (including consumer, auto and mortgage loans) into one.

With the help of remortgage, the client can transfer all his payments and financial transactions to one bank. This will save a lot of time and money for salaried borrowers with loans from completely different banks.

Important! Every client with an existing mortgage who plans to refinance it should understand that obtaining a new loan will be accompanied by additional costs, including the cost of purchasing insurance, real estate appraisal, etc.

Before making a final decision, it is recommended to carefully consider all the pros and cons of the mortgage refinancing process, as well as the potential benefits and feasibility.

TOP-12 refinancing offers in 2019

To choose the appropriate option for on-lending, the borrower must familiarize himself in detail with the offers available on the market. Below is a table with the TOP-12 offers of banks for refinancing loans in 2019.

The above information allows us to conclude that Gazprombank and VTB are ready to offer the most profitable loan products (a rate of 8.8% per annum), as well as Otkritie Bank - a rate of 8.7% per annum.

The final value of the approved percentage will depend on many factors:

• residual amount of the current loan;
• categories of clients (for salary and other preferential clients, a reduction in the rate is provided);
• refusal/consent to purchase insurance;
• providing a full / simplified package of documents.

Refinancing in Sberbank

Sberbank is currently running the Refinancing Mortgage and Other Loans program. The terms and conditions will be as follows:

In one loan you can combine:

• one mortgage loan in another credit institution;
• up to 5 other loans, including car loans, consumer and other loans, as well as credit cards.

Mandatory requirements are:

• lack of debt on refinanced loans;
• high-quality performance of its obligations for at least 1 year;
• the validity period of the reissued loan is from 6 months;
• the expiration date of the current loan agreement is at least 3 months.

Important! At the same time, the procedure for on-lending in relation to existing loans should be primary. If the refinancing program has already been applied, then the bank will refuse to repeat the procedure for obtaining favorable conditions.

The interest rate for the product in question depends on the purpose, stage of registration of the transaction and the fact of repayment of debts on old loans. The minimum percentage - 9.5% per annum - will be set for a client re-registering a mortgage in another bank, who has already registered a transaction and paid off the debt.

At the stage of submitting a loan application, the client will have to provide a complete set of papers, including a copy of the current loan agreement, mortgage agreement, passport, employment and income documents, real estate appraisal report. Additionally, you will need to take a certificate from a third-party bank on the status of the debt and details of the loan, confirming the bank's consent to restructuring.

Refinancing at Otkritie Bank

The conditions for reissuing an existing mortgage loan at Otkritie Bank are as follows:

It is allowed to increase co-borrowers up to 3 people.

The rate of 8.7% per annum is the minimum percentage approved for borrowers applying for a new loan for a period of 5 years with full insurance. Otherwise, the interest rate will be higher.

In particular, the following allowances apply:

• +0.25 p.p. - if the client is not a participant in the salary project;
• +1 p.p. – if the borrower is an individual entrepreneur or business owner;
• +0.25 p.p. - if the income is confirmed by a certificate in the form of a bank;
• +2 p.p. – if there is no personal insurance;
• +2 p.p. – if there is no property insurance policy.