Mortgage credit: shorter and more expensive

Mortgage loan - a form of acquisition of the real estate market housing.This method is to buy a flat today chooses an increasing number of people.

Like sole proprietorship in Moscow and other Russian cities, mortgage lending takes place in a certain order, to design a number of documents and requires specific knowledge and solutions.In many ways to evaluate the advantages and disadvantages of mortgage allows analysis of this sector of the market economy.

Unfortunately, the financial crisis has particularly affected the construction and real estate.Changing some of mortgage lending in recent years - a consequence of this process.

The first is a change in rates.As a rule, they are dependent on the state of the refinancing rate.The lower it is, the loan is cheaper.As a result of the 2009 crisis on the whole territory of Russia there was a sharp increase in refinancing rates.Only from 01.01.09, the rate rose to 13%.The result was a sharp rise in the cost of mortgage credit.Even the subsequent reduction

of state refinancing rate did not improve the situation.The reason is that the crisis banking institutions had to take unpopular measures such as reducing the risk of non-payment due to the increase in interest rates on loans issued by the new credit.In many ways, the situation was due to straighten out government subsidies to support the program on the mortgage, as well as the introduction of a system of deferred payments.

Thus, it is expected that the mortgage market will gradually emerge from the crisis, and as a result, interest rates on mortgage loans will decrease.

The second important point - is the terms of the mortgage.In certain temporary borders being registered company, formalized certain documents.Mortgage lending is the biggest deadline for repayment of loans population.However, in times of crisis the risk of non-repayment of the loan of money or delay payments significantly increased.As a result, banks are trying to normalize the situation by reducing the maturity, which is quite disadvantageous for people with low or average incomes.