Holiday credit
Posted on Oct 2, 2000 08:15:27 AM
To date, mortgage lending suburban housing is at an early stage of development. Still take advantage of such lending can be. Therefore, if really want to buy a cottage, but there is no correct amount – it does not matter. With the advent of suburbs “budget” projects cottage settlements emerged and the demand for purchasing them on credit. “Low” projects – this is the home area of 200-300 square meters. meters, located in the western part of Moscow region within 40 km from Moscow. The cost of such houses does not exceed 400 thousand dollars. Banks and property developers offering a variety of options – you can lay the purchased land, Moscow apartment, or simply pay for home construction in installments
Get a loan for the construction of the cottage is much harder than buying a ready cottage. Banks prefer to work in the following way – the future owner buys land in the suburbs at their own expense, and home construction is due to the mortgage. While on bail credit institution takes a lot and the house itself, which will be built. In this case, interest rates and the maximum is 15-20%. After completion of the cottage possibly lowering the interest rate mortgage to 11-14% (level of interest rates to buy the finished cottage).
Getting credit for the purchase of suburban property, for example, a cottage in Pestovo, with registration as a deposit held by the borrower does not apply to real estate mortgage lending. This is the kind of so-called “Lombard” credits. In this case, the ratio of the index as the sum of the loan / deposit must be at least 50%.
Looking after yourself cottages in the suburbs in the Istra Country Club you can learn more about credit conditions and the banks with whom they work.
Nevertheless, the growing market of country houses in the past few years identified several new niches. In particular, the construction of “affordable” houses are not on the most prestigious areas. Typically, these houses are built on the average (by distance) suburbs and their price is about $ 250 thousand this segment, according to market participants in the coming years may become a discovery for mortgage lending.
According to Isabella Postolovskoy, last year had been concluded a small number of transactions, due to deficiencies in the legislation. Potential as the dynamics of this market is very high.
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