Wooden mortgage: banks, developers

• Due to the ever-increasing supply, there is an urgent need for housing loans.
• Today, one of the most profitable offers is a mortgage on a wooden house.
• Preferential loans for the purchase or construction of wooden housing are a new type of loan created on the initiative of the Prime Minister of the Russian Federation Dmitry Medvedev.

Initially, the duration of this program was limited to the period from April 1 to November 30, 2018, but then it was extended until 2020.

This type of lending applies to both private houses and apartments located in wooden buildings . The main characteristic feature of the so-called “wooden mortgage” is a 5% subsidy, which the state covers from the state budget.

Conditions of the benefit program

Is it possible to get a mortgage on a wooden house if it costs more? This is not prohibited, but if the fixed amount of 5% is exceeded, the government benefit will only apply to part of the loan.

To issue such a mortgage, the bank is obliged to enter into an agreement with the Ministry of Industry and Trade of Russia in the manner prescribed by Government Decree No. 259. However, these are not all the conditions of the preferential program.

This list continues with the following norms:

• Lending currency – Russian rubles;
• The term of the mortgage is about 15 years (this low figure is due to the fragility of wooden structures);
• Collateral – real estate that is the object of the loan, or any other valuable property owned by the borrower;
• Additional security – guarantees of guarantors;
• The amount of the down payment is not less than 10% of the amount borrowed from a financial institution. Do they give mortgages for wooden houses without this payment? According to the terms of the program, this is simply impossible;
• Mortgage rate - represents the difference resulting from subtracting 5% of the subsidy from the initially established amount of interest on the loan;
• The deadline for transferring the house from the developer to the buyer is no later than 4 months after signing the contract;
• The condition of the house is both assembled and disassembled.

The program allows for changes in the time frame for building a house, but this clause must be written down in all copies of the contract.

Main criteria

In addition to the basic conditions, banks that issue a mortgage for the purchase of a wooden house put forward a number of requirements both for the developer and the borrower, and for the structure itself. Let's look at them in more detail.

Requirements for the contractor:

• A valid license or other documents permitting paid construction work using wood materials;
• Partnership agreements with lending financial institutions;
• The annual revenue is at least 200 million rubles (but the higher this figure, the better).

In 2020, only a few construction corporations meet the conditions of the so-called “wooden mortgage”. These are Good Wood, Zodchiy LLC, Sokolsky DOK, Terem and MKD.

The head offices of all five are located in Moscow, but there are many dealers in the regions through whom you can clarify the possibility of participating in the preferential program.

Construction requirements:

• The house must be built from durable and strong types of wood;
• Wood material can be in the form of solid or laminated timber, solid wood panels or its derivatives (MDF and OSB), lamellas;
• The foundation is capital, with deepening;
• The age of the finished house is no more than 10-15 years. Old buildings are not eligible for lending;
• Seasonality is universal;
• Location: within the boundaries of a populated area;
• The land plot is duly registered, belongs to the borrower (any relative) or is leased for a long period (exceeding the mortgage period);
• Distance from the lending bank or its branch – no more than 50 km;
• Fire safety – comply with current legislation;
• Degree of wear – up to 70%;
• The roof is in good condition and has no structural defects;
• Full readiness for living;
• Availability of access roads and main utilities;
• Absence of illegal buildings and structures on the territory of the household;
• The intended purpose of the land plot is for the construction of residential buildings or agricultural land.

Requirements for the borrower:

• Citizenship – Russian Federation;
• Age – from 21 to 65 years (at the time of mortgage repayment);
• Permanent registration within the borders of the state and in the region of presence of the financial institution issuing the loan (the last point is not mandatory for all banks);
• Job security – official employment within the last 6 months;
• Written consent of the spouse. Its necessity is explained by the fact that all property acquired during marriage is considered joint. In addition, the cost of paying a mortgage cannot but affect the provision of the family;
• Willingness to provide additional collateral for the loan;
• Good credit history and no debts to other banks;
• Solvency – implies the ability to make an advance payment in the amount of 10% of the amount received. Having multiple sources of income significantly increases the likelihood of getting a mortgage.

The list may not be complete - if necessary, the bank has the right to request other documents from the future client.

Registration procedure

Applying for a loan to purchase a wooden house takes place in several stages. Let's look at each of them:

1. Stage 1. Submitting an application to a bank that can provide this type of mortgage. This can be done in person or digitally on the official website. In addition, the client is required to fill out a questionnaire drawn up according to the approved form. It contains not only personal data (full name, year of birth, address, etc.), but also other information:
   • Information about relatives and their place of employment;
   • Loan period;
   • The amount required to purchase real estate;
   • Contacts for communication;
   • Availability of a vehicle or other real estate;
   • Monthly profit amount;
   • Amount of obligatory expenses.

   The specified information must be truthful, because it is on their basis that the bank makes this or that decision. A borrower caught cheating will most likely be denied a loan.

2. Stage 2 . Collection of necessary documents.
3. Stage 3 . Consideration of the request, study of papers. As a rule, this takes from 7 to 10 days.
4. Stage 4 . Receiving a response (during a personal visit to the office of a financial institution, by email or by phone).
5. Stage 5 . Search for a suitable object. The client has from 60 to 90 days to do this (the exact timing depends on the lender).
6. Stage 6 . Ordering a real estate appraisal. The procedure is paid by the borrower. The cost of the service depends on various factors (for example, the size of the house, the region of its location and the distance from the office of the appraisal company) and ranges from 3 to 15 thousand rubles. A list of accredited appraisal firms can be obtained from a credit institution. It will be much easier than looking for a company on your own. The fact is that the companies on this list know exactly the requirements of their partners, so their reports are almost never returned.
7. Stage 7 . Preparation of papers for the construction site and collateral (if the application is approved).
8. Stage 8 . Opening a credit account in the name of the borrower.
9. Stage 9 . Making a down payment.
10. Stage 10 . Providing a payment receipt to a bank employee.
11. Stage 11 . Registration of a loan agreement in the Unified State Register of Real Estate.
12. Stage 12 . Conclusion of a contract with an insurance company.
13. Stage 13 . Drawing up a collateral agreement, which serves as the property being purchased.
14. Stage 14 . Registration of the collateral agreement in the Registration Chamber (as encumbered).
15. Stage 15 . Transfer of the amount to the account of the seller (if the house is already ready) or the developer (if it is under construction).
16. Stage 16 . Receipt by the client of copies of agreements - collateral, insurance and credit. The latter must contain a monthly payment schedule.
17. Stage 17 . Closing a mortgage. Occurs after full repayment of the borrowed money, including commission, interest and insurance premiums. To close the loan, the client must obtain a certificate from the bank confirming the absence of debts and full repayment of the loan amount within the agreed time frame. Only in this case can he be sure that there are no hidden commissions, growing penalties and other unpleasant surprises on his credit account.

Before putting your own signature on the contracts, carefully read all the details.

Pay special attention to the sections that specify the procedure for making changes to the document, the conditions for early repayment of debt, as well as a list of penalties and the grounds for their application.

For those who are not confident in their legal literacy, we advise you to enlist the help of a specialist.

Documents required to obtain a loan

To obtain a mortgage for the construction of a wooden house, you need to collect a whole package of documents:

• Internal passport;
• Independent appraiser's report;
• An additional document that can confirm the borrower’s identity (driver’s license, SNILS, international passport, military ID);
• Certificate of income - arbitrary, according to Form No. 2-NDFL or according to a bank form;
• A copy of the work record book with the employer’s stamp and signature;
• Papers for the subject of collateral - technical passport, plan, extract from the Unified State Register of Real Estate, purchase and sale agreement, cadastral value, etc.;
• Documents for the land (including the cadastral plan of the site);
• Construction estimate (if the construction of a house is just planned).

Documents required for reporting

By law, the borrower is required to give the bank a report on the use of the funds provided to him, as well as confirm the legal operation of the building and his own right to own the purchased property.

To do this, he needs to prepare the following papers:

• Individual documents - a foreign or internal passport with mandatory registration in the purchased house, a certificate of family composition, a marriage certificate and other documents confirming the identity and civil status of the borrower;
• Papers for a house or apartment - technical and cadastral passport, project, construction permit and commissioning;
• Title documents – a purchase and sale agreement registered in the Unified State Register of Real Estate, or an agreement with the developer with a registration mark in Rosreestr;
• A certificate from the Registrar's Office regarding the removal of the mortgaged property from the encumbrance;
• Payment checks and receipts, which can be used to track the costs of building a wooden house;
• Receipts proving payment of land tax for the first month of home ownership.

Which banks issue loans for wooden housing?

1. Borrowers who want to receive a benefit for the purchase of a wooden house probably want to know whether it is offered by Sberbank or any other financial organization operating in Russia.
2. Here is a list of banks offering similar services:
3. When answering the question of which banks provide a mortgage for a wooden house, it should be noted that there is no separate program for obtaining such a benefit in any financial institution.

Such loans are issued as part of a mortgage program for the purchase of a private home or country property. You also need to remember that each bank offers its own lending conditions, which can be found on the official website.

Taking out insurance for a wooden house

Having received everything necessary, the borrower must insure the wooden house for the mortgage. This is one of the mandatory conditions imposed by all financial organizations.

However, the problem is that insurance companies are not too willing to agree to such procedures - they are scared off by the low fire safety of such buildings. In addition, insuring a wooden structure will cost several times more than a house made of brick or other durable materials.

As for the insurance program itself, banking institutions providing preferential loans offer 3 options at once:

• Insurance of collateral property;
• Title insurance;
• Insurance of the borrower's ability to work and life.

Only the first type is mandatory, the other two are at the discretion of the client . However, practice shows that having only one type of insurance is fraught with a refusal to obtain a mortgage or a significant increase in the interest rate. To avoid making a mistake with your choice, calculate which option will be more profitable.

Source: http://ipoteka-expert.com/ipoteka-na-derevyannyj-dom/

What will happen to the mortgage?

Significant changes in mortgages in 2020 will affect both the construction industry and the secondary housing market. According to experts, the Central Bank's reduction of the key rate to 6.25% will lead to a decrease in interest rates on mortgage lending. The loan rate can reach 8.5-8.7% per annum, which is a record for the Russian banking system.

Is it worth taking out a mortgage?

Property values ​​are likely to rise in the new year. The reason for the increase in housing prices is related to the innovations in Federal Law 214, according to which developers are switching to project financing.

Given rising prices, the biggest winners will be people who are eligible to participate in government lending programs. If a person is a beneficiary or is planning to add to his family, he should think about a mortgage in 2020. State support will allow you to reduce your debt burden and take out a loan with a low interest rate.

Good opportunities also open up for investors who buy real estate for further rental. Reducing rates will create optimal conditions for loan repayment and significantly increase the profitability of the rental business.

Mortgage terms

Throughout 2019, the Central Bank reduced the key rate five times. From the end of 2018 to the present, it has decreased from 7.75% to 6.25%. This situation could not but affect mortgage interest rates. Banks react quickly enough to changes and improve conditions for obtaining loans.

It is expected that the first half of the new year will be the period when, for the first time in the history of the Russian banking system, the mortgage rate will drop to 9% or less. Moreover, it will be stable with a tendency to further decrease.

The reduction in mortgage rates in 2020 will continue in the second half of the year. The forecast for this period is 8.7%.

Such figures are far from accidental - they are the ones indicated in the Russian national project “Housing and Urban Environment” for the coming year.

There is an opinion that by the end of 2020 the Central Bank’s key rate will be reduced to 6% or even 5.5%, which will undoubtedly affect bank interest rates. There are all the prerequisites for this, because today we are observing deflationary processes in the economy, and they are proceeding at a faster pace than the Bank of Russia and the Government predicted.

In addition to inflation and decreasing rates, the increase in loan volumes is influenced by residential real estate prices. The transition to project financing associated with the reform of Federal Law-214 forces developers to increase supply, and the growing demand for living space contributes to an increase in the cost per square meter. Over the current year it has grown by 7%, in some regions - by 17%.

Thus, we can expect the following changes in mortgages in 2020:

• reduction of the lending rate to 8.7% and its further reduction to 7.9% by 2023–2024;
• an increase in the number of loans issued (in quantitative terms, they can reach 1.57 million).

Thanks to lower interest rates, an increase in the volume of mortgage lending is already observed. In just eight months of 2019, borrowers were provided with 1.6 trillion rubles to purchase housing. Compared to the same period in 2018, the increase was 4%.

Let us note that there is also a restraining factor in the increase in the number of mortgage loans.

Due to the tightening of the Central Bank's requirements, credit institutions will have to be more strict about the debt levels of borrowers.

In other words, if the client already has a significant debt load, he is unlikely to be provided with a new loan. Accordingly, for some people a mortgage will be unaffordable in 2020.

Mortgage rates in new buildings

With the beginning of the new year, the authorities intend to redirect a significant share of mortgage loans towards new buildings.

Today, there is a significant bias towards the secondary housing market, therefore, to develop lending, it is necessary to direct funds to housing construction.

For these purposes, it is planned to introduce new mortgage programs for citizens who take part in the processes of construction and acquisition of real estate.

The situation with the conditions for obtaining a loan for the purchase of a new building is approximately the same in all major banks. Some financial organizations issue loans at a higher interest rate, but at the same time put forward more loyal requirements for borrowers.

As for the mortgage rate in 2020, the most comfortable conditions for obtaining a loan will be created for future new residents. Already, many banks are reducing interest rates on loans and are preparing for further reductions in rates. In particular, since October 1, 2019, the decline in various banking institutions was:

• At Sberbank, by 0.3 percentage points for the purchase of housing under construction, parking spaces and garages. Moreover, if the apartment is on the list of accredited new buildings, the minimum percentage can be from 6.5%.
• In Gazprombank by 0.5–0.6 points. If housing is purchased from the bank’s partner companies or the buyer is a salary client of a financial organization, the loan is issued at an interest rate of 8.1% per annum.
• At Alfa Bank by 0.4–0.8 percentage points. At a minimum percentage of 8.09%, the banking institution promises to lend to borrowers who buy real estate in accredited new buildings, subject to life insurance and signing a contract within 30 days of approval from the construction company.
• In the House of the Russian Federation by 0.8 p.p. Under the “New Building” program, the bank’s interest can range from 7.3%, depending on the total loan amount and down payment.
• In Raiffeisen by 0.3–0.4 percentage points. For all categories of borrowers, the percentage is 8.99%, but when purchasing from key developers from the bank’s list, it will be reduced to 8.39%.

Rates are also falling in other banking institutions. But although the mortgage forecast for 2020 is generally favorable, it is difficult for experts to predict how the market will behave after a further fall in bank interest rates. Therefore, if buying real estate is an urgent problem, it is worth solving it in the near future.

Conditions for mortgage lending from Sberbank

The share of Sberbank's mortgage lending in the total volume of loans issued in the Russian Federation is more than 50%. It is expected that the bank will significantly simplify obtaining a mortgage loan.

Currently, its DomClick system is one of the main factors in attracting new clients, and in the new year the financial institution will provide a number of additional services that will help speed up the execution of a loan agreement.

In addition to DomClick, the bank’s priority products will include escrow accounts introduced when the Federal Law-214 reform was adopted. In order to attract construction companies to provide services, Sberbank is introducing a preferential mortgage at 1%, thanks to which apartments from developers (bank clients) will be provided to young families at a discount to the base rate.

At the beginning of December 2019, German Gref announced his intention to introduce a mortgage refinancing service in 2020. According to the head of Sberbank, now is the “golden time” for borrowers - rates are falling and inflation is slowing, which makes it possible to purchase an apartment with significant benefits for the family budget.

Lending with state support

Starting from January, the state plans to increase the amount of maternity capital for the birth of a second child to 466,617 rubles. This money can be used to make a down payment on a loan or to pay off debt to the bank when purchasing a home. In addition, from the new year it is planned to launch several mortgage programs that will work with a preferential interest rate:

• First of all, family mortgages will gain momentum. According to its terms, families in which the second and each subsequent child is born after January 1, 2018 will be able to take out a loan for real estate at a rate of 6% or less. The program is expected to be popular. This will be facilitated by the refinancing service from Sberbank and permission to buy housing on the secondary market at preferential interest rates.
• According to mortgage forecasts in 2020, borrowers will be able to take advantage of a preferential program developed for residents of the Far East. Its terms include the provision of a mortgage loan at 2% per annum for a period of 20 years. Funds will be available to purchase housing in the region or to build your own home under the Far Eastern Hectare project.
• Citizens who are in particular need of housing will be provided with a subsidy for the down payment. It will be available to families with children, military personnel, government employees and other people who urgently need to improve their living conditions.
• Rural mortgages will start working on January 1 of the new year. Thanks to this program, individual village residents will be able to obtain loans for the purchase of real estate at a rate of 0.1–3% per annum.

Thus, changes in mortgages in 2020 will not bring any particular shocks and will help many Russians acquire their own real estate.

Rates will continue to fall, prices will rise moderately, since their increase will be limited by the declining purchasing power of the population.

Loan conditions will improve, which will allow citizens to be more optimistic about purchasing real estate using mortgage lending.

Source: https://avaho.ru/ipoteka/chto-budet-s-ipotekoy-v-2020-godu.html

Preferential mortgage for a wooden house 2020: conditions and banks

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A preferential mortgage for a wooden house in 2018 (wooden mortgage) must be issued in accordance with all the rules, taking into account the requirements for the borrower and the mortgaged property (developer). You need to study the step-by-step procedure in advance, know the basic conditions and some of the nuances and features of such a loan.

Preferential mortgage for a wooden house from April 1, 2018 Government Decree

Thanks to the Decree of the Prime Minister of the Russian Federation D. Medvedev, in 2018 a relaxation on the terms of mortgage loans will be introduced for persons purchasing private wooden houses. The same also applies to those who want to build their own house from wood, or buy an apartment in a wooden house.

Average rates apply in the range of 9 to 10% if the client makes a 10% advance payment. The amount of subsidies from the state budget is set at 5%. For the current (2018) year, budget funds have been allocated for wooden housing construction of 197.7 billion rubles. It is estimated that approximately 2,500 homes could be freely purchased with a subsidized mortgage.

The legal basis for providing benefits to mortgage borrowers who have chosen wooden houses is Government Decree No. 259 of March 15, 2018. According to the laws of the Russian Federation, all adopted bills must come into force only one month after they are signed by the head of the Government of the Russian Federation, or his deputies authorized to do so.

After signing by Medvedev D.A. legal document, a mortgage on a wooden house from 2018 will be legally issued to citizens after April 15 of this year. It is from this moment that the Resolution will enter into legislative force. But now all the features of such a loan can be found at the link below.

Program conditions

According to conservative estimates by government authorities, a frame house, the area of ​​which ranges from 100 to 130 square meters, can cost 2.5 million rubles. Under the terms of a program such as a mortgage on a wooden house, the maximum limit is 1 million more.

This was done with the aim of providing opportunities to citizens who want to build a large house.

To issue such loans, a banking institution must enter into a special agreement with the Ministry of Industry and Trade of the Russian Federation in the manner prescribed by Government Decree No. 259.

The general conditions include the following rules:

1. The lending currency is Russian rubles.
2. The size of the mortgage loan should not be more than 3.5 million rubles.
3. A mortgage can be secured with collateral, which is the object of lending – real estate.
4. Additional collateral includes surety guarantees, collateral of existing real estate or other valuable property of the borrower.
5. The client needs to make an initial payment to an open account in the amount of at least 10% of the total amount borrowed from the bank.
6. The mortgage rate is the difference that is obtained by subtracting 5% of the subsidy from the initially established amount of interest on the loan.
7. The start of the subsidy from the state for the purchase (construction) of a wooden house is 04/01/2018.

Source: https://ipotekaved.ru/dom/lgotnaya-ipoteka-na-derevyannyi-dom.html

Why is it almost impossible and hardly profitable?

Since April 2018, you can take out a soft loan for the construction of a wooden house. This program was in effect for several months, but has now been extended until the end of 2020.

Only the validity period of the program has changed, but the basic conditions remain the same: not everyone is given money, it’s difficult to get it, it’s unclear where to go for it, and building a house with such government support may not even be profitable.

Ekaterina Miroshkina

economist

But such a program exists and works, and some things have changed in it. Maybe you will be able to take part in it and get some money from the budget for your own home. These are the conditions under which preferential loans for wooden houses are given.

The essence of the program is that the bank can issue a loan for building a house at a preferential interest rate: part of the rate subsidizes the budget. The borrower is not given money: he receives a discount on the loan and saves on interest.

This program was initially valid from April 1 to November 30, 2018. It has now been extended until the end of 2020. If you are going to build a house, a subsidy from the budget will help you save money. The program has pitfalls and strange conditions that are almost impossible for either banks or borrowers to meet. But according to the documents this is the case.

Anyone can participate in the state support program for wooden houses. The program has no requirements for marital status, income, availability of other housing, or number of children.

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A loan at a reduced rate can only be obtained for a house made of factory-made wood. The contract should not indicate a certain number of cubes of timber, but rather the house as a whole.

A wooden house can be made from the following materials:

1. Glued laminated timber.
2. Solid timber.
3. Massive panels made of wooden slats.
4. Oriented strand board panels.
5. MDF panels.

For some reason, rounded logs are not in the list of materials. Bricks and blocks are even less suitable.

The program has requirements only for the material of the walls, but not for the foundation, roof and internal partitions. When concluding an agreement with a manufacturer, you need to pay attention to the wording. If you write “house included” or indicate inappropriate material, the bank will not receive a subsidy - and, most likely, will deny the borrower a preferential loan.

The program contains requirements for the manufacturer of the house. This must be a company that has entered into an agreement with a specific bank under a preferential state support program. The manufacturer’s revenue is no less than 200 million rubles for the previous year.

If you take out a loan in 2019, you need to make sure that in 2018 the supplier of house kits sold them for approximately 17 million rubles per month. But most likely, no one will provide such information to potential borrowers.

The bank must check this.

It turns out that you first need to find a bank that participates in the program, then find out which factory for the production of wooden houses it cooperates with, and only then choose a house from this particular manufacturer.

You can do the opposite: call manufacturers and find out which banks they work with under the so-called wooden mortgage program. But there are hardly more than twenty factories with a suitable turnover in Russia. These should be large companies that work in several regions.

At a preferential rate, the bank can issue no more than 3.5 million rubles. This limit does not apply to the value of the home, but to the amount the borrower borrows. If the house is worth more, you need to pay the rest with your own money.

You can take even less from the bank, for example 2.5 million rubles. There are no minimum loan amount requirements.

To buy a wooden house with state support, you need to make an advance payment under the purchase and sale agreement - at least 10% of the cost of the house. The program links specifically to the house, and not to the entire order at the factory. It is better to indicate the cost of installation, delivery, foundation, windows and additional services separately. When applying for a subsidy, even the little things are important to the bank.

State support means that the bank reduces the borrower’s regular rate by 5 percentage points. The state compensates him for this lost interest.

For example, the typical rate for a home construction loan is 12%. But the borrower will pay only 7%, and the bank will receive the difference from the budget.

Earlier. At the very beginning, the program had such conditions that the preferential rate was not valid for the entire loan term, but only during the program period: from April to November 30, 2018.

If the contract was concluded for a longer period, after November 30 the borrower began to pay at the regular rate. In fact, state support could only be received for a couple of months. For example, a loan for five years was taken out in September 2018.

The subsidy was given only in October and November, and not in December and later. In general, it was a very strange condition; we saw this for the first time.

To receive a subsidy for a wooden house, an agreement with the bank must be drawn up under the following conditions:

1. The conclusion date is from April 1, 2018 to December 31, 2020.
2. The contract term is no more than 3 years.

It will no longer be possible to take out a loan for five years under this program. The entire amount plus interest will have to be paid in a maximum of 36 months. Faster is possible, longer is not possible.

Source: https://journal.tinkoff.ru/news/gospodderzhka-na-dom/

Preferential “wooden” mortgage 2020: which banks provide a mortgage for the construction of a wooden house

Almost every resident of an apartment building dreams of a house in the village. Few people can buy or build a wooden house from timber or rounded logs right away at their own expense, while the rest have to either give up their dream or take out a mortgage. Is it possible to get a preferential mortgage for a wooden house in 2019? Read more about this.

Preferential mortgage for a wooden house. Government Decree

On April 15, 2018, the Government Resolution on easing mortgage conditions for citizens purchasing wooden houses or apartments in a building with wooden floors came into force.

The easing of conditions concerns the loan rate, which, thanks to the subsidy, is reduced by 5 percentage points. In 2018, the government allocated more than 19 million rubles for wooden house construction. The procedure for issuing such deputies is regulated by GD No. 259 dated April 15, 2018. The program began on April 1, 2018 and was extended until 2020.

A housing loan under the “wooden mortgage” is issued only for the purchase of a house kit from accredited manufacturers participating in this program. These funds cannot be used to buy a plot of land to build a house.

Terms of a wooden mortgage: rate, terms and down payment

Let's start with the interest rate. The program does not indicate the exact value of the rate: the final percentage is determined by the bank. And the state, with the help of a subsidy, will reduce this rate by 5 percentage points. Judging by standard indicators for 2019, the interest rate on preferential housing construction will fluctuate between 9-11.5%.

The general terms and conditions of the program are:

1. Loan currency – rubles;
2. The maximum loan size is 3.5 million rubles;
3. Loan term – up to 15 years;
4. Collateral – purchased or other house; additional guarantees - surety;
5. Down payment – ​​from 10%;
6. The interest rate is 5% lower than the standard bank loan rate.

The bank receives the right to issue a preferential mortgage on a wooden house after concluding an agreement with the Ministry of Industry and Trade of the Russian Federation.

The mechanism of preferential mortgages

State subsidies for wooden housing construction are carried out as follows:

• A citizen submits an application for a mortgage on a wooden house at a preferential rate.
• The bank reviews the application and documents and gives approval.
• Taking into account all the details, the bank issues a loan to the borrower at a rate reduced by 5%.
• The bank sends documents to the Ministry of Industry and Trade of the Russian Federation for reimbursement of the state discount.
• Funds are sent from the country's budget to the bank in the amount of the subsidy allocated to the borrower.
• The debtor periodically reports to the bank on the funds spent.
• The borrower returns the funds and repays the mortgage.

Having repaid the mortgage, the client is obliged to notify the bank about the completion of construction and the commissioning of the house; he also provides the bank with a document on ownership of the property and a passport with registration in the new house.

Is it possible to get a subsidy for the construction of a wooden house?

Preferential housing construction was introduced by the Government to support domestic producers. In Russia, the need to revive wooden construction has long been overdue. Forest is a strategic resource that can replace oil. And since there are a lot of forests in Russia (28 trillion), why not develop them?

In this way, the government is trying to increase the demand for wooden construction. The program emphasizes that the mortgage is issued “for the purchase of a factory-made wooden house.” Therefore, it is possible to receive a subsidy for the construction of a wooden house within the framework of a “wooden mortgage,” but only for those who fulfill all the conditions of the lending bank participating in the program.

Officially working citizens can also receive tax benefits in the form of 13% personal income tax from the legally established amount of 2 million rubles. from mortgage funds and 390 thousand rubles. – refund of income tax on amounts up to 3 million rubles. The maximum possible compensation will be 640 thousand rubles. This benefit is provided one time.

Requirements for the contractor and the house

Developers must meet the following requirements:

• Obtain state accreditation by concluding an agreement with the Ministry of Industry and Trade of the Russian Federation.
• Possess a license to carry out construction work using wood.
• Provide reporting data on the company's revenue for the past year in the amount of at least 200 thousand rubles.
• Sign an undertaking regarding the timing of production and delivery of a wooden residential property within 4 months. The period is counted from the moment the contract is signed with the contractor. The construction period can be extended by specifying other terms in the contract.

What requirements must the house meet?

The requirements for a wooden structure are:

1. The house is located in a populated area; stands on land owned or leased by the borrower for a period equal to or greater than the mortgage period; suitable for living at any time of the year.
2. Durable wood was used for construction.
3. Options for using wood: timber (solid or glued), solid panels, OSB or MDF, lamellas.
4. The foundation of the house must be deepened.

List of developers

There are not many developers who have expressed their willingness to participate in the program of preferential wooden housing construction. Here is their main list:

• Terem Company (Moscow);
• Zodchiy LLC (Moscow);
• "Country Season";
• JSC "Tamak";
• Good Wood Corporation (Moscow);
• "Fort Ross House";
• HotWell et al.

The full list of accredited developers can be viewed at https://ipotekaved.ru/wp-content/uploads/2018/03/Partnery_doma_dachi.pdf

Requirements for the borrower

The borrower must meet the general requirements that apply to any client applying for a mortgage, such as:

• Age: from 21 to 65 years (at the end of the loan period);
• Citizenship of the Russian Federation;
• Permanent registration on the territory of Russia;
• Clean credit history;
• Official employment within the last 6 months;
• Possibility of providing collateral and other security;
• Consent of the spouse in writing;
• Solvency confirmed by an official document;
• Availability of funds for making an advance payment (at least 10% of the cost of the property).

The bank reserves the right to impose additional requirements on the borrower.

Documents for obtaining a loan

When applying for a “wooden mortgage,” the borrower provides the bank with:

• Russian Federation passport;
• Second identification document (passport, SNILS, military ID, etc.);
• Independent expert assessment report;
• Certificate of income 2-NDFL or according to the bank form;
• A copy of the work record, certified by the employer;
• Documents for the pledged property (title document, registration certificate, extract from the Unified State Register of Real Estate, plan, etc.);
• Papers for the land plot, including cadastral plan and cost.

If the house is just being built, then an estimate for construction must be provided.

Documents required for reporting

Reporting documents are necessary for the bank to track the expenditure of funds taken by the borrower from the lender. The bank will require from the client:

1. Personal documents: passport with registration in the house, certificate of family composition, marriage certificate, etc.
2. All documents for the purchased wooden house: house design, permit for construction and commissioning, cadastral and technical passports, contract agreements, purchase and sale agreements, extract from the Unified State Register of Real Estate.
3. Confirmation from the Registration Chamber about the removal of the encumbrance.
4. Payment documents confirming the costs of building a house and paying land taxes for the first month of home ownership (checks, receipts).

Is the program working now?

The project was approved by the government in 2018 as a trial project for only 8 months. At the moment the program is not working, since the first period (from April 1 to November 30) has ended.

Extension of the “wooden mortgage” in 2019

We hasten to please those who are interested in the idea of ​​purchasing a wooden house that the second cycle of the “wooden mortgage” will start on April 1, 2019. To become a participant, you need to conclude a mortgage agreement with the bank during the period from April 1 to November 30, 2019.

How to get a mortgage for a wooden house: step-by-step instructions

Let us present the stages of obtaining a “wooden mortgage” step by step.

Step one - choose a suitable bank and submit an application

You should not apply to the first bank you see. It is better to analyze the conditions of all banks participating in this program. To quickly search for a list of banks and analyze conditions, go to services such as:

• https://www.sravni.ru/;
• https://www.banki.ru/.

These sites will help you navigate the issue of choosing a bank.

Next, select 3-4 credit institutions that fit your parameters, read customer reviews about them, track their level on the Central Bank website and choose the most optimal lender. Apply for a coveted mortgage. This can be done remotely on the bank’s website or in person by visiting a branch of a credit institution.

Step two - submit documents

Having received a positive response to your application, collect a package of documents (see above).

If a co-borrower is involved in the mortgage, then he will have to collect a similar package of documents.

Do not forget that the bank has the right to request additional papers. The presence of a guarantee also requires the collection of documents for an individual acting as a guarantor of loan repayment.

The period for reviewing documents is from 5 days to 4 weeks.

Step three - order a real estate valuation report

This procedure is ordered and paid for by the borrower. Tariffs for the service are unstable: an expert’s assessment costs from 3,000 to 15,000 rubles. Where can I order this service? It’s worth asking the bank employees about this: they will issue a list of appraisers accredited by their institution.

Contact the appraisal office by phone, online, or come in person. To speed up the process, send copies via email:

1. Borrower's passports;
2. Extracts from the Unified State Register of Real Estate;
3. Real estate documentation.

The appraiser will come to the house, inspect the site, premises, and take the necessary photos. The report will be ready in 2-3 days.

Step four - sign the mortgage agreement

Well, all the documents have been collected, all that remains is to carefully study the mortgage agreement, study the payment schedule and, if everything is satisfactory, sign in 3 copies. But first, the bank will require you to take out insurance for the wooden structure.

How to get insurance for a wooden house?

Any mortgage program involves obtaining insurance. And here it is worth knowing that insurance for a wooden structure will cost a little more. And this is logical, because the risks of death and damage to the object in this case are much higher. Wood is a highly flammable material and less durable than other building materials. And the higher the risk, the more expensive it costs to protect it.

You can insure not only the house, but also the ability to work, the life of the borrower and the title. The last 2 insurance options are not mandatory for purchase, but refusal of them may increase the rate indicator to 1%.

Terms of “wooden mortgage” in banks

Not all Russian banks are ready to participate in the housing lending program within the framework of the “wooden mortgage”. Below in the table we present an overview of banks and the conditions they offer for mortgages of wooden residential structures:

Bank Interest rate Amount and term First installment Sberbank from 11.5% from 300 thousand rubles. up to 30 years from 25% Rosselkhozbank from 11.5% from 100 thousand rubles. up to 30 years from 15% VTB 24 from 10.7% from 600 thousand rubles. up to 30 years from 10% DeltaCredit from 11% from 300 thousand rubles. up to 25 years from 40% Bank Otkritie from 11% from 500 thousand rubles. up to 30 years from 30% Unicredit from 13% from 500 thousand rubles. up to 30 years from 50% Alfabank from 11% from 600 thousand rubles. up to 25 years from 40% Raiffeisenbank from 12.75% from 300 thousand rubles. up to 25 years from 40%

The interest rate may be reduced to 1% when taking out insurance.

As you can see, in practice, the conditions of the mortgage program for preferential housing construction are somewhat different and not as attractive as prescribed by the Government Resolution. This suggests that this program still needs to be further developed, maintaining interest from both banks and potential borrowers.

The "wooden mortgage" is back in force. Now until the end of 2020 - ERZ.RF News

This conclusion was reached by the authors of the consolidated forecast for the development of the housing market in 2020, prepared by CIAN based on a survey of a number of industry experts. In their opinion, this year several trends that appeared already in 2019 will develop.

• About new bankruptcies
• Alas, in 2020, new bankruptcies of developers are not excluded and are even quite likely, admit market representatives interviewed by CIAN.

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Dmitry Rebrov, deputy general director of SibPromStroy (pictured).

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The developer is confident that the transition of the industry to a project financing system will cause a number of projects to stop and bankruptcies. Today, according to Rebrov, the share of construction organizations in a pre-bankruptcy state is 19%.

The expert hopes that subsequently, with the correct implementation of project financing, the concept of “deceived shareholder” will cease to exist. But this will clearly not happen in 2020.

 According to the managing partner of the Metrium company, Maria Litinetskaya (pictured), in the coming year, “an active cleansing of the industry from the least sustainable developers who have not adapted the project’s economics to new conditions” will begin.

Moreover, it is primarily regional developers who are at risk, Litinetskaya emphasizes.

 

 

• The general director of the development company SMU-6 Investments, Alexey Perlin (pictured), is more optimistic in his forecasts. The top manager believes that the market is not threatened by high-profile bankruptcies, since any operations with developer accounts are controlled by authorized banks, which will be able to identify problem complexes at an early stage and take timely measures:
• “Most likely, the departure of developers from the market will be accompanied by a merger of companies,” the specialist believes.

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On the harmonization of supply and demand

Director of the project consulting department at Est-a-Tet, Roman Rodiontsev, is confident that in 2020 a balance will be achieved between the volume of supply in the housing market and the demand for it. At the same time, the rate of release of new projects will decrease.

“We shouldn’t expect a repeat of the rush of demand that was observed at the end of 2018: household incomes are not increasing significantly, and prices for new buildings are gradually increasing,” believes Roman Rodiontsev (pictured), and a number of his colleagues agree with him on this issue .

 

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However, some of them consider it very likely that there will be a further decline in effective demand, which will force developers to seriously reduce their price appetites.

As a result, according to the majority of industry representatives surveyed, in the first half of this year the increase in the cost of apartments in new buildings will average 3-4%. And by the end of the year, the average market price will increase by 5-10%.

 

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On the impact on the market of the declining mortgage rate and the expansion of maternal capital

Most of the experts surveyed predict a further decrease in the mortgage lending rate in 2020 (up to 8% per annum), which means an increase in the popularity of bank loan products among the population for the purchase of housing. But not only banking itself.

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“The number of partnership products of developers and banks with interest rates of 4-5% will grow,” predicts the general director of Atlant Group of Companies Roman Lyabikhov (pictured) and predicts an even greater spread of the practice of selling apartments by developers using the installment payment mechanism.

Vladimir Putin’s recently announced intention to extend the maternity capital program for five years (in particular, the use of the latter as a contribution to the purchase of housing) and expand it to families in which the first child is born will increase the number of transactions this year. In particular, in the capital's market of new buildings they will grow by 4-7%.

2. Other publications on the topic:
3. Metrium: there will be no aggressive price increases in 2020
4. An increase in the number of defrauded shareholders and an increase in demand for new buildings
5. Over the past six months, the activity of visiting sites for selecting options for purchasing or renting real estate has fallen.
6. Mortgage prices will continue to fall in price in 2020
7. CIAN: close cooperation with PIK helped VTB bypass Sberbank in the mortgage market of the Moscow region

Source: https://erzrf.ru/news/derevyannaya-ipoteka-snova-v-sile-teper-do-kontsa-2020-goda