Mortgages on land: the subtleties of design and tips for choosing a bank

Mortgages on land helps many people to buy for himself territory, where you can engage in construction.If we take into account the current economic situation, the constant drop in production levels as well as inflation, we can say that the mortgage involves a large number of advantages.

Features of mortgage lending land

If a person makes out a mortgage, then he gets real satisfaction guaranteed to all their demands.Mortgages on land is the main function of which is to perform all of the installed items under the contract.Borrowers must accurately and unconditionally fulfill all the obligations for each item signed documentation.Provisions are regulated by the existing legislation.

from Greek word "mortgage" is translated as "the pledge."Earth is the reliability of collateral, if a man use it efficiently for a long time, it will not wear out.Agreement on mortgage lending today common.In today's society - it demanded collateral and legal relations.This fact can be explained by the fact that the main feature is the value and attractiveness of producing real estate.

How are the contract on mortgage lending?

today to issue mortgage loans are not only for the purchase of an apartment or house, but also to land.It is necessary to highlight the main features of the proposal - a complex and time-consuming procedure of registration.But the land is not subject to wear and damage, and does not age with time.Land will not lose their original cost.

to the mortgage has been issued, you need to fill in all the documents.For such contracts gave rise to pledge legal relations, all documents should be established in legislative form.If we take into account many other legal relationship, in this case can not be established by the legislation complied with the form.The end result of the agreement will be terminated.

Mortgages on land is made exclusively in full compliance with applicable laws and lawful manner.In this case, the contract becomes subject to a mortgage or real estate, so it is necessary to carry out the identification process.The event starts with a particular species of property.When formalized land, you must specify its location or link to a particular area.

What areas can be bought with the help of mortgage lending?

main object of mortgage lending - a plot of land, but it is necessary to take into account certain requirements.It is forbidden to buy plots, which are in common ownership.Also, credit is not subject to the land that belongs to the state or municipal services.Mortgages for the purchase of land can not be issued in case of withdrawal of land from state contracts.Before you take out a mortgage, you should consult with qualified professionals who have appropriate education and experience.They know all the established laws and other requirements for registration of mortgage lending.

What if there are buildings on the site?

When a mortgage is issued for the purchase of land, particular attention is drawn to the presence of buildings or other structures.If a site has on its territory the building, then the mortgage extends to all structures.You can highlight the principle of indivisibility of all plots and buildings located - it is a permit from the state and the existence of legislation.All key points should always be defined and identified in the loan agreements.It needs to pay particular attention to this factor: all the buildings are to be put into operation, and further decorated with private property.The order of registration and use of the buildings must necessarily be governed by applicable law.

Particulars of a mortgage on the land in the bank

Today, there are many features that relate to lending to land.You can select the following provisions:

  1. Borrowers have a right to engage in the construction of facilities in the areas.There is no need to notify the bank that gave mortgage.As an exception should highlight the cases that have been prescribed in the contract.
  2. When a mortgage is issued to the land, the banks are entitled to all the buildings that were erected during the term of the loan agreement.
  3. territory can be taken in the mortgage lending in the future when it will be used for gardening and construction of residential buildings and villas.
  4. Agreement on mortgage lending comes into force after completing registration.This procedure is carried out exclusively on the land.

Deadlines land

current legislation of the Russian Federation in January 2013 introduced a new law under the number 302, which is supplemented by the provisions regulating the registration of various agreements.The subject of the conclusion of the contract is a plot of land.All changes are made the state registration of the mortgage lending land.It says about the deadlines of the registration procedure.

take effect the new version of the article at number 13, which can adjust the timing of the procedure.Since the application must be not more than one month.Also, in these times you need to provide other supporting documents that are required for the state registration of land.But in some cases, the deadlines for documentation may be controlled by the current legislation of the Russian Federation.Registration of mortgage of land held within fifteen days from the date of submission of all documents.

Evaluation land

agreement between the lender and the borrower to determine the collateral value of land.Deposits - it is the total value of the property, which later appeared in the credit agreement.Thus, we can guarantee the reimbursement of funds from the banking institution.This may be necessary in the case when they were not fully complied with all obligations relating to the repayment of the loan.

Assessment and mortgages for land includes the following features, as well as sections:

  • definition of purpose and category of land.
  • total area.
  • collection of documents, which provide the right to land ownership further.This is necessary to specify the exact duration of the contract.

What points should be considered during the appraised value of the land?

During the assessment of the mortgage is a contract of the land plot, where special attention is given to factors that characterize the advantages and disadvantages of the location of the object.There are such requirements:

  • exact indication of the location of a particular site.
  • Full description and the administrative division of towns and cities.
  • Clarification names of administrative regions.
  • Full and detailed description of the prestige of the place where the land is located.
  • Do Distance from the city center.
  • access to public transportation.

specialists undertake to carry out an assessment of the market value of land is issued, as well as to make future projections of possible changes during the loan period.

procedure for obtaining a mortgage loan

During the process of obtaining a loan on the ground borrower can not provide the bank with collateral.Mortgage land implies a detailed and thorough study of the maximum requirements which may apply to a particular site.

After approval of the bank lending facility experts recommend to the estimated value of the contract and sign mortgage insurance.The Borrower has the full right to refuse certain types of insurance, as well as the signature of the Comprehensive Agreement.An important criterion, which may affect the provision of a bank loan - it is the availability of infrastructure near the land.Also taken into account the settlement of electricity, gas, water and the availability of transport interchanges.In issuing mortgage special role played by the total size of the land and its possible distance from the city center.Land that can not be made available for loan:

  • land that is used for industrial purpose and military needs.
  • Land, owned by several owners.
  • Lots municipal purpose.
  • Areas that are allocated for natural reserves.
  • national park.

Where better to buy land in the mortgage?

Today there are a large number of institutions and banks that offer their clients the opportunity to take advantage of mortgage lending.Banks do not lend to land plots that are shared or joint ownership.Mortgages can be issued exclusively on the object, which belongs directly to the borrower.

If the area is owned by legal or physical entities, the bank has every right to require consent from each individual owner.It is in this case can be framed and issued a mortgage on land.Sberbank today is engaged in lending and mortgage lending to their customers.But during the execution of this procedure every person must as accurately as possible to examine all the details and features of a mortgage on the land.In this case, you can count on the legal aspects of registration and warranty agreement.

Subtleties of registration of the pledge contract

agreements concluded during the mortgage lending should be made only in writing.The registration process is carried out in a certain order, which was established by the current legislation.If the contract contains such important issues as the subject of the mortgage and the final score will then be framed mortgage land.Land law implies a set of all necessary legal regulations that may govern the use and protection of land.

correct and accurate assessment of the land can be carried out by professional valuers.Mandatory condition - is the availability of money expression, which can not be lower than the value of the inventory.