Apartments in a mortgage in St. Petersburg: early repayment
Mortgage lending is a popular bankingservice. With its help, up to a third of deals are made in the primary market of St. Petersburg and it is an excellent means of acquiring own housing for a wide section of the population. The new apartment can be occupied immediately after the delivery of a new building, without waiting for a full repayment of the debt.
The loan for real estate allows you to buy an apartment in a mortgage in St. Petersburg, dividing payments in the long run.
There are several reasons why a buyer seeks to repay a mortgage ahead of schedule:
- Impossibility to forecast their incomes interm perspective. Many citizens in recent years found themselves in a difficult economic situation, and do not have the opportunity to forecast their incomes in the future. Therefore, try to pay off debts now, while there is some money stock.
- In European countries, credit is not somethingunusual. In debt take apartments, cars, furniture and stuff. Mentality of the Russian consumer does not allow to live in debt. Some citizens feel the constant discomfort due to the debt obligations to the bank.
- Saving money. For 20 years, the amount of a mortgage may exceed the cost of an apartment several times. Paying the loan body ahead of schedule, you can save a lot of money.
After paying the loan, the apartment is registered with the owner, the bank charge is withdrawn from it. Housing can be sold, donated, rented and others.
How to repay a mortgage ahead of schedule
In order to repay the loan before the end of the term, it is necessary to notify the bank 30 days prior to the moment of making the funds. The application should indicate which option the client prefers:
- Reduction of the loan period while maintaining the size of the monthly contribution;
- Reducing the monthly payment while maintaining the credit period.
The first option is much more effective in terms of cost savings. The second option will bring a reduction in the burden on the family budget. Which option is preferable, the client decides on his own.
There are no penalties and restrictions on early repayment, the bank has no right to enter, according to the law (Article 809 and 810 of the Civil Code of the Russian Federation).
It is worth remembering that you can buy an apartment in St. Petersburg in accredited new buildings. Accreditation speaks about trust of banks to the builder.
The company "SPb Renovation" realizes housing inready and under construction projects. All new buildings have been accredited by banks, including large ones: Sberbank, VTB24, Bank Saint Petersburg, Gazprombank, etc. Access to the program of military mortgages, mortgages without a down payment.