The possibility of reducing mortgage interest at VTB 24 is attracting more and more people. Is it really profitable? Let's try to figure it out!
So, what is mortgage lending for the primary and secondary housing market? During the global economic crisis, there was almost no mortgage lending. As soon as the main wave of problems passed, gradually mortgage lending began to appear on the real estate market.
Features of lending
If you believe the information provided by Russian experts, then VTB is considered one of the most promising. The decrease in mortgage interest in this financial institution allows you to attract additional customers here. The interest rates on such loans are unfortunately high, so young people who have taken a loan try to refinance it as soon as possible. Recently, VTB has been actively developing in this direction; a decrease in mortgage interest in the bank is of particular interest.
What is important to know
Each borrower has the opportunity to repay the loan ahead of schedule in part or in full. The Bank does not have the right to charge fines, penalties, commissions for this. This postulate follows from the Civil Code of the Russian Federation. Despite the fact that the law is on the side of an individual (borrower), it will be wrong to neglect the interests of the bank itself. That is why it is advisable to file an application for a reduction in interest on VTB mortgage (or early repayment) at least a week before the new mandatory payment.
How is recounting done?
A financial institution has the right to demand the fulfillment of such a condition from the borrower. Before you make the payment amount, you need to decide what it is for. It must be remembered that after the installment, which is higher than the minimum mandatory part, the debt is recalculated.
In this case, two options are possible:
-
decrease in the amount of monthly payments (the borrower makes the same amount of years, but the total debt decreases, so interest is calculated on the remaining loan);
-
reduction of the loan term (monthly payment increases, but the mortgage is paid much faster).
In each of the situations described, it is beneficial for the borrower to pay the financial institution as soon as possible.
VTB 24 Terms
The client has the right to early or partial repayment of the debt. A decrease in interest on a mortgage in VTB 24 is possible only after the borrower has written an order to write off a certain amount from his account, in addition to the obligatory payment, as payment of the main debt. An important condition is the availability on the card tied to the mortgage agreement of funds in the amount of the main payment and the amount that was indicated in the submitted application.
You must understand that we are talking about partial early repayment of the main debt, and not% of the loan. How to lower the rate on the VTB 24 mortgage? In order for the procedure to go smoothly, the money was credited to the account in a timely manner, the bank advises to call the manager of the office in which the loan was issued (or make a call via the free hotline).
The specialist will not only tell you how to reduce the interest on the VTB24 mortgage, but also explain a detailed algorithm of actions to simplify the task for the borrower. In this bank, any loan is subject to early repayment.
Legislative Features
For banks, the issuance of housing loans is accompanied by serious risks; VTB is no exception.Reducing interest on mortgages to customers allows you to save material resources, but for the financial institution it is far from always beneficial. That is why there are various bureaucratic barriers:
-
certain requirements are imposed on the borrower;
-
compulsory insurance is issued;
-
loan is secured
VTB offers excellent lending conditions. A decrease in mortgage interest is also a feature of this financial institution. In its work, the bank fully complies with the legislation of the Russian Federation.
Borrower Requirements
Among the important points to be highlighted, we note the positive attitude of VTB 24 towards customers who have a good credit rating. We pay attention to the features that this credit institution has:
-
the types of housing loans offered by the bank under study make it possible to purchase housing both in the secondary market and in new buildings (owners of family capital, military certificates, government programs can apply for them at VTB, interest rates on the existing mortgage are also possible);
-
consideration of applications is carried out according to a standard algorithm.
The client must fill out an application form at one of the offices or do it online. The bank has 4-5 days to consider the submitted application. In the case of a positive decision, it is really 122 days. For this period, it is important to choose an apartment (other real estate) and complete a purchase and sale transaction. A full package of documents can be found on the official website of the bank. In particular, information about the borrower, the amount of the selected mortgage will be required.
Attracts customers to VTB a reduction in interest rates on the existing mortgage, which can significantly save the borrower. Housing can be purchased on the territory of the Russian Federation, moreover, regardless of the place of permanent registration of the applicant.
Interesting facts about VTB
In 2019, tariffs at the bank start at 9.2% per annum. Of course, this is the basic (primary) interest, which will vary depending on the conditions of the mortgage, borrower status, type of loan.
An important point is the mandatory insurance of mortgage real estate for the entire time of mortgage lending. On a voluntary basis, life insurance and the title of a borrower are provided. VTB 24 bank experts recommend their customers to arrange comprehensive insurance, which will allow them to save significantly.
Also, among the differences that are characteristic of this financial institution, we can mention the possibility of early repayment of a mortgage loan without any additional fees and charges, you just need to call the call center. There is a pleasant mortgage bonus in VTB 24: customers who draw up a contract can expect to receive a consumer loan at 14.5% per annum.
The loan size ranges from 600 thousand to 60 million rubles in national currency (in rubles). The maximum mortgage term is 30 years.
In 2017, the% rate on the main mortgage programs of VTB 24 was significantly reduced. It became possible to acquire an apartment in a new building from 9.2%, and from a secondary - from 9.25 percent.
Applicant Requirements
Loans are given to citizens whose age is from 21 to 65 years (until reaching retirement age). At the last place of work, the length of service must be at least six months, only in exceptional cases 3 months are allowed (upon presentation to the financial institution of a certified employment contract indicating the successful completion of the probationary period). A separate requirement is a good credit history. The mandatory list of documents includes:
-
passport;
-
SNILS; income statement 2 personal income tax, labor contract;
-
marriage certificate, child birth certificate (when registering a family mortgage);
-
military housing certificate (for NIS participants);
-
documents for the purchased apartment;
-
statement.
Bank reliability for borrowers comes first.It is necessary to select a non-profitable mortgage program in an unknown bank, but choose a bank, and only then choose the suitable mortgage loan option. There is a special table in which all financial institutions of the Russian Federation are placed according to the rating according to the number of mortgages issued, brand recognition, reliability. According to such a table, banks in all three positions can occupy different places. Perhaps, as an exception to the general rules, one can mention such a banking system as VTB 24. This bank has a powerful network of branches, is engaged in servicing all categories of customers, providing all types of banking services. It is these reasons that distinguish VTB 24 from the list of banking institutions and make it an exception to the general rule.
