Mortgages – Can Be Cheaper?
Mortgage lending is on the rise. Moreover increasing the demand for loans and interest rates; Mortgages are becoming more expensive, […]
Mortgage lending is on the rise. Moreover increasing the demand for loans and interest rates; Mortgages are becoming more expensive, the average rate has overcome the psychological threshold of 12% and many banks now issue the credit offers to even worse conditions. Find a suitable option that not only fits you, but also receive the approval of the credit institution, all the more difficult. In any case, do it yourself will not everyone. To find the best option and it does not spend its time and energy on useless collection of documents, filling out questionnaires and visits to the bank; you can request the credit broker.
In this case, experts of the organization will do everything for you, and the application will be served promptly and in a large number of banks in which you have the proper credit. This will lower the interest rate, because of the many options to find the most profitable easier than when you choose one of those that first come to mind, or of those banks whose offices are close to work or home.
When choosing a mortgage must take into account a lot of nuances. And most importantly – good enough to earn it; For example, to buy an apartment in Moscow in the mortgage monthly family income must be less than 100 000 rubles. That is, a mortgage can afford a few. In the future, the price of housing loans may be reduced, but it will need to comply with certain conditions. In particular, that housing is available, the need to grow the economy. Despite the fact that every day on TV, we are told that for the past 20-odd years, we are moving steadily to a bright future, it is worth a look around to see that this is not true, or not true.
To mortgages became available, the economy should be full of money, but they are not. After all, those who control the domestic finance prefer to withdraw money to offshore accounts in Cyprus, to keep money in securities of U.S. companies, and so on. In general, the money goes out of the country permanently, which is detrimental to our economy. Financial system is unstable, despite the stability of the political. When the country will be cash at rates not more than 4-5% per annum, and the timing of not less than 10-15 years, then we can expect the emergence of cheap mortgages. While you’re waiting for is not worth it.
In addition, economic growth is now slowing, and because of rising prices and declining real incomes. And the growth of incomes – is another condition for increasing the availability of housing. When people will be able to buy an apartment, the demand will increase, which will lead to an increase in construction and reduce prices. In addition, the cost of corruption should be gone. The cost of housing – is not only and not so much the cost spent on the construction of the resource at different stages of their prices, there are corruption charges, which may at times increase the cost of the final proposal. To fight corruption are trying for a long time, but no significant progress yet to be achieved, perhaps because corrupt officials simply refuse to deal with themselves.
The main reason that mortgages are not available to all is the very high cost of housing. The apartments are very expensive, and getting more expensive all the time, ignoring the laws of economics and logic. Until the decline in housing prices the solution of the housing problem and will remain unattainable; you can do this by setting limits markups to the cost of housing in its implementation. These allowances are necessary, since these funds industry can develop and improve, but now they are used for other purposes. Due to these allowances sellers have an opportunity to receive a windfall, realizing apartments at prices that can be several times higher than the actual cost of the builder. Often it happens that the cost per square meter of housing is 1500-2000 dollars and sells it for 5000 and even 6000 dollars. This situation is simply unacceptable. But as long as the maximum allowable level of mark-ups in the country is not, the seller can put any price deemed acceptable. Experts estimate that in the regions of the price per square meter of housing should not exceed 30,000 rubles. If this condition is met, the demands for mortgages without a doubt increase dramatically.
However, some borrowers, even waiting for this bright pores (if it ever comes at all), and cannot get the desired loan to truly favorable conditions. And all because of a bad credit history; Even if the mortgage will be cheaper, it does not mean that everyone can get it. It is unlikely that the apartment will drop so much that they buy will be as easy as a refrigerator. Therefore, another condition that is needed to solve the housing problem and increase the availability of mortgages – is to improve the “quality” of borrowers themselves.
Of course, everyone in life can force majeure, unforeseen circumstance such as illness, layoffs or other large unexpected expenses. In the credit history contains all the information about the delay, but on why they happened in the credit history will not be indicated. Of course, if you make a serious delay or not pay the loan, you get a mortgage you will be very difficult, almost impossible. But the banks are to meet the client. For example, after the recent economic crisis that many people have lost their jobs, the credit history of borrowers became worse – losing a job, they were not able to pay on the loan. At the bank of this situation are well aware, so refer to a delay with condescension. However, this does not mean that it is simply closed his eyes.
Ideally, the borrower would not be amiss to give some information that would confirm that he lost his job because of the crisis, not because of bad work. What will this help? There is no clear indication, so you can show imagination. If it was a serious injury or illness because of which you could not work and you are fired, then the bank will be enough to help the hospital. To solve the housing problem ideal mortgage is not enough; we need more common and borrowers.