This question is currently worried about a large number of citizens. From year to year, mortgage lending is becoming increasingly popular among the population. Thanks to mortgage lending, millions of families were able to acquire their own housing. However, many of them would like to reduce the burden on the family budget and reduce monthly payments.
There are several ways to effectively reduce the interest rate that the Bank offers before the conclusion of the contract.
The decline in the key indicator by the Central Bank of Russia provides the right to borrowers who have already issued a mortgage loan, to reduce, established by the contract, interest rate. For this, a citizen needs to contact a bank with a certain requirement.
There are three main ways to reduce interest rates. Consider each of them in more detail.
The refinancing procedure provides for the dedication of the borrower on new conditions. Refinancing is not the responsibility of the bank, so it can be refused. However, if the lender refused you, then you should not despair, because this procedure you can use in another bank. At the same time, it is not necessary to obtain consent from the current lender.
Less than expensive will be refinancing in the same bank where you received a valid loan. Since it will not require a new package of documents to implement this procedure. In addition, the dedication in another organization will bear and material losses, as you have to register an insurance policy again, pay for the fee to conclude a new treaty and evaluate real estate.
However, despite the additional spending, even a minor increase in the interest rate, for example, 0.5% will bring good benefits for a citizen. Thus, a decrease in interest rate by 2% will reduce the monthly payment of about 8-9%.
The restructuring of the mortgage loan is significantly different from refinancing, and changes the terms of lending only if the total income of the borrower decreased or increased.
To do this, the Bank needs to provide two documents — this is a reference of the 2ndFL and the application for restructuring. However, not all citizens can boast growing incomes, especially in the complex economic situation in the country.
When a citizen loses a significant amount of revenues and cannot pay credit obligations.
As soon as the vital complexity came, you should immediately contact the bank and explain the situation. The lender will go to meet you, especially if you are a conscientious borrower and offer several ways to solve the problem. This may be an increase in the credit period, as a result of which the monthly payment will decrease, or credit holidays that can not pay at all over the six months, or change the payment schedule.
In any case, the Bank will try to find a way out for your situation, as it doesn’t want to lose profits either.
In the state list, there is a sufficient number of state programs so that everyone can acquire real estate on preferential terms.
Who has the right to a preferential mortgage?
It is possible to reduce the interest rate on the mortgage loan as at the stage of signing a loan agreement, so already after some time. Timely appeal to the credit institution will help you to save you a significant amount of money, even if at first glance the rate will seem unreasonable.
We hope that our article was useful for you.