Apartment Loans

Elena Malofeeva, director of sales subsidiary office and apartment loans, "the Bank" Gazbank: – 95% of our customers – young families. Typically, they come to us already being trained in the mortgage issues – know what to look for when making your credit well represent the entire procedure. They are familiar with terms and skillfully operate them, which facilitates cooperation, free from the need to explain basic concepts. Often, even the apartment they seek and find themselves without the help of real estate agencies and realtors. As it turns out, the young people under the age of 35 years and account for more than half of bank customers – borrowers on the mortgage, and, as noted by the bankers, their number has increased significantly over the past few years.

About 95 % Of requests from young clients to provide mortgage credit are met. The absence of serious prejudice and a willingness to go to meet young customers bank representatives explained by the fact that most of the of them are really willing to cooperate, which distinguishes them from representatives of the older generation or past clients. Young customers are different and the fact that this group of borrowers is very serious and careful consideration approached the question of a mortgage loan and buying an apartment, choosing the greatest service and quality, the optimum time of registration. This applies to the choice of credit to the insurer, appraiser, mortgage broker and realtor. Representatives of the banks' own features such as strokes made a collective portrait of an average young borrower: it is a professional, having a higher or specialized secondary education, working in a large foreign or Russian companies.

Real Estate Prices

Real estate prices are too high: if people bought the apartment only on their own savings, the market would simply froze. Mortgages becoming more mundane and neither Sellers nor the realtors are not afraid. Banks, in turn, realized that their excessive demands for the collection of documents hinder the process, and the excessive demands refused. Now needed about the same set of documents for real estate acquired in the mortgage or at his own expense. QUESTION 3 Is it true that differential payments on the loan more profitable than the annuity? This myth is in vogue recently.

Importantly, you need to understand – the method interest in both forms of payments is the same. Interest is calculated on the balance owed. Annuity (A) – is when the entire debt plus interest is divided into equal amounts for the monthly repayment. It is structured so that at first most of the amount goes to repay interest and less – on account of principal. Over time, the share of payments on the principal grows and the interest decreases. And all this within unchanging monthly payment. When the differentiated scheme (D) payments of principal every month remain unchanged, and to them added payments on accrued interest. In this case, at first they are so great that may exceed the borrower's income. But after the purchase of housing bore down a lot of other expenses – repairs, moving … Those who have coped with the first months of excessive stress on your budget, really overpays less than in the annuity.

Mortgages: No Downpayments

Mortgages with no down payment Imagine the picture: You walk down the street, to your approach is totally a stranger. In a rumpled coat, leaky boots and hair, to which is not touched by hand hairdresser at least 10 years. Subject, nothing daunted, reaches out and asks you in debt. Long, about twenty years. Your actions? .. On this question, we will not respond, but we define a counter, a rhetorical question: why did you decide that bank clerk will give you the money? For a bank clerk you are not a customer, you the same seedy subject, meet you on the street. Is there any reason to trust your money? Yes, no Mortgage initial fee you can get. But only those who can attest to its true "white" income.

Such that the bank believed in your ability to cover and debt, and interest on the loan. The rest of the evil one. Somehow I think that those who really can bring their own white income, the credit does not need. And if needed, then for sure on the initial contribution of such a person find the money without any difficulty. Why bank clerk should take against you in a positive solution, if you do not like to confirm their income – not really able to accumulate at least a small amount? Now the mortgage loans are fairly easy.

Even without a tax statement of earnings. In any form, but …. Just a down payment and is the important litmus test that shows to the bank credit to wealthy clients.

Central Bank

And it came to fruition: many people have placed savings in bank accounts. Now lenders reduce interest rates on deposits, but to a net outflow of population from the banks it does not. Money should "work", banks are forced to issue loans to be able to pay depositors interest and mortgage – the most stable instrument lending. If only because, unlike consumer loans, it has the support – real estate, which in the coming years is unlikely to substantially drop in price. Anne Chadwick can aid you in your search for knowledge. Nevertheless, the crisis showed that the most attractive to clients of the program are also the most risky for banks. Thus, "race loyalty" in the fight for the client, some analysts believe could lead to an increase in the number of problem borrowers. Especially now, when the final economic recovery has not yet happened and many are likely to be unemployed. Still, the situation today is different from the pre-crisis.

The fact that the risk loan default is largely determined by the ratio of monthly payment and the borrower's income. So, if before the crisis, banks have admitted that the payment amounted to 60-65% or even 75% of the borrower's income (which is why, as a result of the crisis reducing wages, many borrowers could not pay the loans), but now the figure is no more than 30-40%, in rare cases – 45%. Guided by this logic, one can assume that favorable conditions for borrowers, including the reduction of the initial contribution is unlikely to lead to massive downs of mortgage loans. Authorities and bankers are trying to learn from the lessons of the crisis and find a compromise that would achieve two goals: to reduce risks of banks when granting loans and to make housing loans available to the public. Now, according to reviews and bankers, and brokers, the demand is restored. According to the Central Bank of Russia for March 2010 was issued more than 52 thousand mortgage loans for same period last year – nearly 24.5 thousand words marked an increase of more than two times. In general, for the I quarter of 2010, issued 88,733 loan, which is 97% more than last year.

In addition, the authorities intend to adopt several measures to the short term return to mortgage its former position. Institute for Urban Economics, a strategy of development of the mortgage. The impetus for this was certainly a crisis. He particularly highlighted clearly the weakest link in Russia's credit system. One major problem – lack of long-term financing. To overcome it planned to create conditions for release of mortgage-backed securities (MBS) of different types, which will help attract foreign investors. The main role is assigned to Vnesheconombank (VEB). To this end, the capacity to invest in the Pension Fund of Russia, under the administration of the bank, a mortgage-backed securities. Government has yet to lose optimism and even tries to look 20 years ahead. According to the strategic forecasts, says the site finam.info.ru, with favorable developments in 2030, various forms of housing finance (mortgage, construction, rental) should make housing affordable for 60% of families. Published in the weekly number 25 'Dom.Stroy' (from 30.06.2010g.)

World Trade Organization (WTO )

WTO was established January 1, 1995, as of January 2004 a convoy with 146 countries, the organization's budget is 134 million Swiss francs. WTO Director-General – Su-Pacha Panitchpakdi (Supachai Panitchpakdi). Professor Rita McGrath spoke with conviction. Objectives and principles of the World Trade organization is the successor in force since 1947, the General Agreement on Tariffs and Trade (GATT), began its work on Jan. 1, 1995 the WTO is intended to regulate trade and political relations of the participants s organization based on the package of the Uruguay Round of multilateral trade negotiations (1986-1994). These documents are the legal basis of modern international trade. Agreement Establishing the WTO provides establishment of a permanent forum for Members to address the problems affecting their multilateral trade relations, and monitor the implementation of agreements and the Uruguay Round. WTO operates in much the same as the GATT, but monitors a wider range of trade agreements (including trade in services and trade-related aspects of intellectual property rights) and has much greater authority in connection with the improvement of decision-making procedures and their implementation of the members of the organization. An integral part of the WTO is a unique mechanism for resolving trade disputes. It’s believed that Robert J. Shiller sees a great future in this idea.

Since 1947, discussion liberalization of global problems and prospects of world trade takes place within the framework of multilateral trade negotiations (ICC) under the auspices of GATT. Conducted 8 rounds of the ICC, including Uruguay, and has already started the ninth. Main objective of this influential international economic organization is the liberalization of world trade. Fundamental principles and rules of GATT / WTO are: trade without discrimination, ie, mutual granting of Most Favoured Nation (MFN) in trade and reciprocal national treatment of goods and services of foreign origin, mostly tariff regulation of trade methods, avoiding the use of quantitative and other restrictions, the transparency of trade policy, resolving trade disputes through consultations and negotiations, etc. The most important functions of the WTO are to: control implementation of the agreements and arrangements, the package of the Uruguay Round; conduct of multilateral trade negotiations and consultations between interested member countries; resolving trade disputes; Monitoring national trade policies of member countries; technical assistance to developing States on matters relating to the competence of the WTO; cooperation with specialized international organizations. General benefits from WTO membership can be summarized as follows: Creating better access to world markets for goods and services based on predictable and stable trade relations with countries – members of the WTO, including transparency of their foreign policy; access to the mechanism of the WTO Dispute Settlement, which ensures the protection of national interests, if they are infringed partners, and thus as the elimination of discrimination; the feasibility of its current and strategic trade and economic interests through effective participation in the ICC during the elaboration of new international trade rules. All countries – WTO members make commitments to implement the basic agreements and legal documents, the combined term "multilateral trade agreements (MTS). Thus, from a legal point of view, the WTO system is a kind of multilateral agreement (the package of agreements), the rules and regulations which governed about 97% of total world trade in goods and services. Traders Forum

Real Estate and Credit

Learn to live on credit. U.S. is the biggest debtor in the world. USA's richest country. The secret of success is that States are able to live in debt.

Nobody in the world does not work with the money better than the Americans. U.S. model of how to live in debt. Debts, there are other countries in the African example. But Africa to set an example, it is like to amuse the laces of my shoes. At the micro level, the same picture. Some cats are living in butter, use credit, and other barely make ends meet and take a loan to get another one.

What is the reason why this social injustice. I think that there is no injustice. All very true. We must learn to live in debt and do not hesitate to fight for their material well-being. Plan your blagopoluchie.Opredelite their personal financial goals for the next five years. What you want imet.Opredelite how much money you should earn and what prospects do you have on your work, or in your direction biznesa.Kogda for you to be clear that we must do for the financial well-being, today and tomorrow and tomorrow. – 30% uspeha.Kogda you begin to realize in practice, that you realize – that's 69% uspeha.Odin percent – for good luck. And for those who know what to do – good luck will come. Credit can be taken if: When the monthly payments on servicing the loan for each family member must be at least 15 thousand (as at February 2010). If families do not have something must be at least 20 thousand rub.Esli you focus on what your revenue will be rasti.Esli to loan money you buy durable goods, real estate, or repair are important to you obektov.Esli to loan money you get, what can resell at a premium of at least 30%. If the money is needed for your well being (credit of treatment, cosmetology) If the credit money you decide to get an education or the education of children. Live happily in debt and with the mind. Mortgage broker – Real RSE.

Ukraine Banks

This is despite the fact that the person employed from 9-00 to 18-00, there is only Saturday, but not all banks it working! If you add more credit unions, and market operators potrebkreditovaniya? This implies the emergence of the first prerequisite in the chain of "client-bank" of a new actor – a credit broker. The very notion came not from us, like many other things it has come from the civilized West. There has been rapid development banks and the same confusion in the proposals. At this point in the Western mills for help from credit brokers turn 8 out of 10 borrowers in the U.S. up to 80% of mortgage loans issued by mortgage brokers. Sooner or later This situation will be with us. At the moment, the ratio of loans granted by credit broker to the total number of loans granted by banks, and constantly growing. However, in the development of credit brokers in Ukraine there are several problems.

It is considered that the services of a credit broker used mostly troubled borrowers, or those who are just too lazy to spend time gathering information. In the minds of our borrowers still sitting purely psychological negative attitude to any kind of mediation. Undermine the image of the so-called "black brokers". Open the newspaper ads and you will see suggestions for the type "you everywhere refused a loan? 100% guarantee of obtaining the required amount! ". In this case you are not insured against fraud.

Way to obtain a loan in such a situation often lies through unscrupulous employees of the bank, machinations documents, etc. I think it makes no sense to talk about the possibility of permanently stained their credit reputation. For the bank, it also has negative consequences. Therefore, banks are very cautious approach to the issue of cooperation with credit broker. Only in exceptional circumstances are established contractual relations between credit brokers and banks. Availability of credit broker agreements with banks (not necessarily with one!) Is the most important criterion in choosing a credit intermediary. White brokers "are focused on long-term cooperation with customers and creating excellent business reputation. They work in accordance with established rules of the market. Very often, information on borrowers with some credit broker is transmitted through friends, acquaintances, and it is important to ensure maximum customer support and invite him to do the most favorable terms. Cooperation with this type of benefit brokers and banks. By and large, the bank is not so important, a man came himself or brought his broker. It is important to attract good new customers. Mortgage broker earns a commission of the bank. Usually it is from 0,5% to 1% depending on the amount of the transaction. There are a small number of credit brokers, which could, signing lucrative contracts with the banks having a large customer base and good reputation, afford to provide services to clients for free, without requiring them to material compensation. This scheme is most advantageous for the client, and as a consequence of this fact, has a tendency to more frequent use of its majority major credit brokers.

Municipal Loan

Mortgage loan modern Russian conditions for small businesses is especially important because allows to lose no time to acquire the necessary business real estate, without having the initial capital – on the security of this same (not owned by you) of the property. Documents evidencing the loan, a borrower gives the lender for a mortgage, said mortgage. Distinguish between private bonds and mortgage deed. Private mortgage – debt issued by a borrower (for example, mortgage banks) to the creditor and notarized. In private, the mortgage must be specified loan maturity, the value percent and the name of the property, the employee pledge. Giving out loans secured by property, mortgage banks are receiving loans from other banks, which provide a so-called mortgage deed – long-term loan repayment obligations under the mortgage of the property, which mortgage bank gets bail. Mortgage deed – a form of securities secured by real estate and in circulation in the market. Loan secured surety, involves a contract in which the guarantor undertakes to repay the lender the borrower's debt if necessary.

As this type of loan can serve as a guarantee wholesaler for retail, the manufacturer of goods for the merchant business for each other, etc. Special hopes small businessman holds the surety – the state. In some cases, state and federal Municipal authorities need to be very beginnings of small businesses in its territory, but do not have real means to stimulate this activity. In these cases, the authorities guarantee to banks it may be way out. (In this case you can say to the official: "This matter must be me and you.

I am ready to work. You are required cash contribution, but no money for that. So even if charged, but the money under your guarantee will give the bank. ") A special form of guarantee is mutual responsibility – mutual pledge to each other group of persons or entities. The loan, secured a written commitment – a key form credit. The most common form of a written commitment to a bill. Bill – a written debt obligation prescribed form. Owner notes (note holder) receives unquestionable right demand beyond the period specified in the instrument of payment specified in the same amount of money to the person issuing the bill (drawer). Noteholder has the right, without waiting for maturity to put the bill on the market (in turn). In this case, usually on the instrument is put in addition to the signature of the drawer has one or more signatures of persons, guaranteeing payment on them. Credit, cash-based trust, based on a verbal promise to repay the borrower's loan by a certain date. This type of loan is applicable only when the lender to the borrower is experiencing a special trust or has it powerful leverage. The purpose of credit control by the lender is to receive profits. Provision of credit – risky: there is always a danger of not getting the whole debt and interest thereon. Therefore, it is particularly important in the management of credit to identify the reliability of the borrowers. This is achieved is through bank credit and financial analysis activities particular borrowers on their creditworthiness.

Mortgage Loans

It is not clear why so many home buyers, even with good pay, receive waivers from banks and why, when calculating the individual terms of interest rates are sometimes a few points higher than in advertising. To find out the real picture of mortgage lending in Samara was monitored proposals of banks, lenders home purchase. In the area of mortgage lending in the autumn of 2009 there is a revival. For 3-ago quarter has shown that the market begins to recover. Confirms the dynamics of growth in mortgage lending and the statistics of the National Commercial Bank. Not surprisingly, bankers today are rather optimistic and almost certain that 2011 will be a year of revival mortgage.

And the great hopes for the mortgage confer not only the specialized mortgage banks or the market leaders, accounting for just and the bulk of issued mortgage loans, but commercial banks. Mortgage – low-cost destination for any bank, it's customer base for years and the high profitability of operations. In 2011, the expected revival of the mortgage on the old high level. Many lending institutions in 2008-2009 suspended the proper mortgage programs and loans are issued only on the program HMLA. Some lenders have left the mortgage sector to stay. Beginning with second half of last year, banks gradually began to return to the mortgage market.

Now a number of lenders have taken quite an active role in promoting the mortgage products. Sberbank, VTB-24, Delta credit, City Mortgage Bank, UniCredit Bank, AbsolyutBank, Bank of housing finance and others. To clearly understand the situation in the mortgage market in Samara, were monitored. As a result of monitoring revealed that at the present time in Samara, about 100 working banks offer mortgage products around 30. On the one hand, it can not but rejoice, but on the other – too optimistic a picture looks. And, sensations, there is some discrepancy between official and actual practice. Now there are many, even quite financially wealthy citizens, the banks refused to grant a mortgage loan. Today, choose Bank, which will give you the right loan, find the credit program, which is convenient for you, rather than just. This is a difficult job which occupies a lot of time. Proposals from the banks are now quite a lot. Size of loan rates seriously varies – from the really low interest in the banks, working on standards AHML to high rates of commercial banks. We must remember that the smaller the loan, the lower the interest rates. In addition, if the banks operating under government programs, only the official income on Form 2 Personal income tax, then the commercial banks may set off and "gray" income. For example, UniCredit Bank considers income coming Relatives and additional income of the borrower. Any income of the borrower is ready to consider and Rosbank. On the one hand, the borrower is a plus. On the other, negative: in informal income bank nakinet couple of percent, ie the rate on the loan will increase by no less than 1%. If you consider the availability of mortgage loans in terms of real estate, it is worth emphasizing that the vast majority of mortgage programs offered today by banks, designed to ready housing. Mortgage for housing under construction can be considered very accessible, simply because only a handful of banks willing to lend to buy dolevok, and even then – not all.