New mortgage law this year. Mortgages will remain the driver of retail bank lending

Mortgage tax

Notarization of transactions

Limitation of mortgage penalties

A mortgage is one of the types of long-term lending from a bank. Thanks to this loan, you can purchase residential and non-residential properties. The state carefully monitors the activities of lenders in the real estate sector, therefore mortgages are regulated by the Federal Law “On Mortgage (Pledge of Real Estate)” No. 102-FZ. Often this law is finalized and amendments are made to it. In addition, tax legislation and the rules of State Real Estate Registration are changing. Special programs are being created for certain categories of citizens and lending conditions are being expanded. Therefore, so that you know what to look for when getting a mortgage in 2016, we will tell you about the most important changes in the law on mortgages and related amendments in other areas.

Tax deduction for mortgage. One of the first innovations in 2016 was that from January 1, 2016, the rules for taxation of personal income received from the sale of real estate changed. Having previously purchased real estate, you did not pay tax on its subsequent sale if it was in your ownership for more than three years. Now the minimum period of ownership of real estate for which the seller is not subject to tax upon sale is 5 years. This change applies only to real estate purchased from January 1, 2016.

But there are also exceptions. Property that was received into ownership by inheritance, a gift agreement from close relatives, as well as as a result of the transfer of property to the payer under rent or under a lifelong maintenance agreement with a dependent - for these cases, the period of ownership of real estate, after which the tax will not be paid when selling the property, is , as before, only 3 years.

How does this change affect the mortgage market? First of all, this makes it difficult to choose an apartment, because many sellers do not want to pay the tax and will wait for the specified period to expire or ask you to pay an additional tax amount separately to the cost of the apartment. And if a new building is sold with a fresh certificate of ownership, then the total waiting period for the seller will become even longer. After all, at first he waited a year or two for the house to be built, and now another five years from the date of registration of the right.

Previously, it was possible to avoid tax by “understating” the value of real estate in the purchase and sale agreement. Now this is impossible.

Tax on the sale of real estate in 2016 is now calculated either from the contract price or from the cadastral value of the property (with a reduction factor), depending on which price is higher. A state cadastral valuation was carried out specifically for these purposes and it is practically equal to the market value of the property.

If the amount in the contract is greater than the cadastral value, then the tax will be 13% minus 1,000,000 rubles (tax deduction) or minus expenses for the previous transaction, at the choice of the seller. For example:

The cost in the DCT is 5,000,000 rubles and it is higher than the cadastral value.
Tax is calculated:
1. From 5,000,000 minus 1,000,000 (tax deduction) = 4,000,0000.
The tax will be 13% of 4,000,000, that is, 520,000 rubles.
2. If the apartment was purchased for say 3,500,000 rubles before, then:
From 5,000,000 minus 3,500,000 (previous consumption) = 1,500,000
The tax will be 13% of 1,500,000, that is, 195,000 rubles.

If in the contract you indicate an amount less than the value of the property according to the cadastral extract, then the tax will be calculated from the cadastral value multiplied by a reduction factor of 0.7. The tax will be 13% minus 1,000,000 rubles (tax deduction) or minus expenses for the previous transaction, at the seller’s choice. For example:

The cost in the monetary contract is 1,000,000 rubles and it is lower than the cadastral value (understatement).
The cadastral value is 6,000,000 rubles.
1. The tax is calculated from 6,000,000 multiplied by 0.7 = 4,200,000
Minus tax deduction 1,000,000 = 3,200,000
The tax will be 13% of 3,200,000, that is, 416,000 rubles.
2. If the apartment was previously purchased, say, for 3,500,000 rubles, then:
The tax is calculated from 6,000,000 multiplied by 0.7 = 4,200,000
4,200,000 minus 3,500,000 (previous consumption) = 700,000
The tax will be 13% of 700,000 rubles, that is, 91,000 rubles.

Essentially, the tax office calculates the amount from 70% of the cadastral value of housing, and also allows you to use 1,000,000 rubles as a tax deduction or deduct previous expenses. Therefore, at the moment it makes no sense to indicate the value in the purchase and sale agreement as less than 70% of the cadastral value.

Limitation of mortgage penalties. Another important change in the mortgage law was the adoption in June 2016 by the State Duma of a law limiting the maximum amount of penalties under mortgage agreements if the terms of the agreement are violated. Now the amount of the penalty under a mortgage loan agreement will not exceed the key rate established by the Central Bank of Russia on the day the loan agreement is concluded. If interest is not accrued under the loan agreement, the amount of the penalty should not exceed 0.6% of the amount of overdue debt for each day of violation of the terms of the loan agreement. Previously, banks themselves set the amount of the penalty and it happened that people who found themselves in a difficult situation ended up owing the bank amounts that far exceeded the original loan and interest on it.

Notarization of real estate transactions. In 2016, a law also came into force stating that all transactions for the alienation of real estate in common ownership are subject to notarization. Federal Law 172 regulates the notarization of all transactions with shares of real estate, even if all property owners are parties to the transaction. This service from a notary is not cheap; its cost consists of a set percentage of the sale price of real estate, plus a set tariff and related expenses.
That is, if you have not one seller, but several (husband and wife, relatives, etc.), then you can no longer conclude a purchase and sale agreement in simple written form at the bank. Be sure to go to a notary and conduct the transaction with him according to his form. Of course, this negatively affects the mortgage market. Firstly, it extends the time it takes to enter into a deal. Not every notary has the authority to certify such a transaction; this can only be done by a notary located territorially at the address of the property. First you need to find him and make an appointment. Next, the bank and the notary need to agree on an acceptable form of the agreement so that the wishes of the bank, notary, seller and buyer are taken into account. And this most often also takes several days. Secondly, these are additional costs (about 25,000 rubles), which will most likely fall on the buyer’s shoulders, because Sellers operate on the principle of “you buy, you pay.”

A military mortgage will not appear on your credit history. In the summer of 2016, the Ministry of Defense prepared a legislative initiative stating that data on military personnel who took out a “Military Mortgage” should be removed from their credit history. This legislative initiative was caused by the fact that military personnel do not participate in loan repayments, since Rosvoenipoteka does this for them. If this bill is passed, then data on “Military Mortgage” will no longer be transmitted to the credit bureaus. If this information has already been previously entered into the credit history, then any military personnel will be able to write an application requesting that the military mortgage be excluded from it.
These changes in mortgage legislation and related areas affect the mortgage market both positively and negatively. Some of them may still undergo modifications and become better. One way or another, all of them should be taken into account when applying for a mortgage. We hope that our article about changes in the law on mortgages in 2016 will help you

Changes to military mortgages in 2016

The rules for state financing of the military mortgage system, introduced in 2005, have changed over time. Below we will talk about what changes await military personnel - participants in the savings-mortgage system in 2016.

Some provisions of the Military Mortgage program will remain the same in 2016. Thus, the service life until the initial use of savings under the military mortgage system remains unchanged: 3 years. During this time, the military man’s personal account in the savings-mortgage system accumulates an amount sufficient for the down payment on a mortgage loan.

The program participant selects a property to purchase, enters into a loan agreement with the bank, and NIS funds are transferred toward the down payment. Further mortgage payments are made by the state until the end of service.

Thus, being in contract service for a long time, a serviceman fulfills his obligations to the state, which provides him with the opportunity to purchase real estate, as well as independently select a property.

The terms of a military mortgage in 2016 still provide for the following options for choosing housing: an apartment from the owner (secondary market); a new apartment in an already built building or according to a pre-existing condition; private house with a plot of land.

It is especially effective to use the funds provided by the state (the total amount of which is currently set at 2.3 million rubles) when purchasing an apartment in a building under construction with the execution of an equity participation agreement. This opportunity, previously unavailable in accordance with the rules of the military mortgage program, is now provided for by the terms of the project.

The "" program provides for military personnel the opportunity to purchase housing entirely at the expense of the state or with the addition of personal investments. You can find housing in accordance with modern quality standards and at the best possible price by using the services of the EZhSF company.

Since the beginning of the Military Mortgage system, state payments have been indexed, so that the amount by which the amount of state financial assistance for the loan contribution was calculated has increased approximately sixfold during this time. No similar changes are expected under the Military Mortgage program in 2016, and the amount of accruals will remain at the 2015 level.

Despite this circumstance, good news can await participants in the savings-mortgage system regarding loan rates. Judging by the forecasts, rates will drop, which means that within the framework of the Military Mortgage project in 2016, the amount that you can count on when choosing an apartment will remain significant.

More complete information about the rules for obtaining a loan under the Military Mortgage program in 2016, including changes in loan rates, is available when contacting a banking organization. Lending conditions may vary from bank to bank. Having found out what size is available to you, you can contact the UHSF company to select a property that best suits your needs and capabilities.

During 2016 -2017, there will be no sharp reduction in the mortgage loan rate, analysts at ZhilFinance Bank came to the conclusion, reports ludiipoteki.ru.

To date, real estate prices have fallen from 10 to 20% (in different segments) compared to 2014, and the mortgage rate has reached its lowest level in recent years - 11%. In this regard, specialists from ZhilFinas Bank gave their opinion on what 5 criteria you should pay attention to in order to make your choice in favor of a mortgage in 2016.

As an expert, ZhilFinance Bank turned to the leading analyst of the real estate market, head of the analytical center of the company RUSIPOTEKA LLC, Sergey Gordeyko.

“Currently, you can hear many statements that real estate prices have reached their historical lows and are about to begin to rise, and mortgage rates have already decreased. The conclusion is that you should hurry with a mortgage loan. Indeed, real estate prices are at a minimum, but the reasons for their growth have not yet arrived and are not expected in the next year and a half. Mortgage lending rates have been declining and will continue to decline with a slight stop at the beginning of 2017 after the end of the Mortgage Loan Subsidy Program. The decline will mainly depend on competition, which will only intensify in the mortgage market, and not on macroeconomics. It can be assumed that during 2016 -2017 there will be no sharp reduction in the loan rate. Thus, it can be stated that the fundamental conditions for purchasing an apartment on credit for the near future will remain unchanged. Therefore, the determining factor for planning a personal mortgage transaction will be the availability of supply on the real estate market and the family's solvency and creditworthiness. You should not use a mortgage loan to purchase housing that is not completely suitable. Changing it won't be that easy. It is worth remembering changes in property taxation. Now “tax-free sale” is possible only after five years.

In terms of family solvency and creditworthiness, long-term considerations must be taken into account. Family comfort depends on the proportionality of mortgage payments and the ability to solve other family problems from the remaining funds. From an expert point of view, you should not take on a loan load on one mortgage that exceeds 30-32% of your net family income. We can say that now is a good time to purchase an apartment on credit. It will last for some time, which must be used to select an apartment and accumulate funds for the down payment. Competition among mortgage lenders makes it possible to find the right mortgage product for each family.”

According to the Bank's specialists, the market is now demonstrating stability, which is likely to last for quite a long time. Real estate prices have fallen and are unlikely to rise in the next few years, due to the fact that supply in the market continues to exceed demand, and the solvency of most of the population remains low. Exceptions to price increases will be seasonal fluctuations of +- 2-3%.

Mortgage rates have also reached their minimum over the last period and start from 11%, but also, one should not reassure oneself with expectations that they will become even lower in the near future, due to the fact that a sharp decrease can significantly weaken the stability of the banking system, as well as lead to to rising real estate prices.

In this regard, analysts at ZhilFinance Bank consider this balance of mortgage rates and housing prices to be optimal for purchasing housing with a mortgage. Therefore, right now is the favorable period when you can plan to buy a home.

But, do not forget that a mortgage loan is a long-term financial obligation to the Bank, and therefore, it is worth thinking about some criteria before taking out a mortgage on your home.

1. Full family

ZhilFinance Bank specialists consider the best case for purchasing an apartment with a mortgage to be a full family, where both spouses are employed and at least one of them is officially employed (the presence of a 2nd personal income tax certificate affects the receipt of a lower mortgage rate) and has a permanent income. The average age of the spouses is from 28 to 40 years.

2. Benefits

Secondly, before choosing an apartment, check whether you belong to the category of citizens who are entitled to benefits:

* Social mortgage - this program primarily involves improving the living conditions of those citizens who either do not have their own living space at all or need to increase it. An indispensable condition for participation in a social mortgage is to be officially on the waiting list.

* Mortgage for new families - the state assistance program is designed to help young families. However, to participate in it, it is necessary that the requirement be met - at least one family member must be under 35 years of age.

* Mortgage for young professionals - a social program that allows young professionals to become owners of their own home at the very beginning of their career. However, there is also an age limit - up to 35 years. Such programs, as a rule, are implemented in the regions and are intended for professions in short supply.

* Mortgages for the military - according to the current Savings Mortgage System, all military personnel can take part in the program and become owners of an apartment after three years of service.

* Mortgages for public sector employees - employees of state budgetary organizations are also entitled to a subsidy intended to pay the down payment on a mortgage, or to a reduced interest rate on the loan.

* Mortgage for scientists - A state mortgage program was developed for young scientists in order to avoid the drain of qualified personnel abroad.

* Maternity capital - in 2016 it amounted to 475,000 thousand rubles

* Regional benefits - in some constituent entities of the Russian Federation, legislation provides for regional benefits

* Benefits from AHML - the agency for mortgage and housing lending provides a number of preferential products for citizens of the Russian Federation, which can be found on the company’s website.

* Corporate Benefits - Corporate mortgage benefits are offered to their employees by corporations themselves. Thus, employees have the opportunity to purchase housing on more favorable terms than those offered by the bank.

* Banking benefits - banks are also interested in developing various preferential programs in order to attract clientele.

3. Comfort

Before buying an apartment with a mortgage, make sure that you really like this apartment and that it is convenient for your family.

Choose housing in areas with developed infrastructure, where there are schools and parks.

4. Budget and regular income

One of the most important criteria is the borrower’s constant income, which will allow him to comfortably repay the mortgage loan within the term you choose.

In terms of the budget, ZhilFinance specialists believe that housing can be affordable with a mortgage when the cost per square meter is equal to the borrower’s average monthly salary. Contrary to statistics, real income indicators from official ones still differ significantly. Therefore, in each family the case is very individual. Before taking out a mortgage, analyze whether the monthly loan amount will be comfortable for your family. And only if the answer is positive, you can safely apply for a mortgage loan.

5. Cost of housing.

The cost per square meter of housing across the country varies depending on the region and the popularity of the areas. In this regard, ZhilFinance Bank has prepared a review of the average cost per square meter of housing in the regions of its presence.

In Moscow over the past year, many offers from developers have appeared at prices ranging from 100-120 thousand inside the Moscow Ring Road. Together with the reduction in apartment space, the threshold for entry into the Moscow housing market (inside the Moscow Ring Road) decreased from 5-6 million rubles per apartment to 3-4 million. Inexpensive new buildings also pulled secondary housing with them. Now the price of a meter in this segment is 10-15% lower than a year earlier, not to mention bargaining, on average at 10%.

On average, the average cost of comfortable housing in Moscow is 160-180 thousand rubles per square meter.

Novorossiysk:

The cost per square meter in Novorossiysk in 2016 is 40-80 per sq. m. And the average cost of an apartment is 70 sq. m. m. will be approximately 4,200,000 rubles.

The secondary market with an established infrastructure is especially popular.

According to analytics, in Kazan the price on the primary market per meter is 60,656 rubles/sq.m. meter in the primary market and 63,516 rubles in the secondary market.

Moreover, on the primary market the price falls by 3.6% per month, while prices on the secondary market remain relatively stable.

The Sovetsky and Novo-Savinovsky districts are in demand among buyers.

In the Omsk real estate market, the average cost per square meter of housing is 43,000-45,000 rubles/sq.m - these are sleeping and working areas

Among buyers, the Left Bank (Kirov District) and the town of Neftyanikov (Soviet District) are in demand.

Krasnoyarsk:

The average cost of a square meter of housing in Krasnoyarsk is 54,000 rubles; most often people buy apartments in the Sovetsky district of Krasnoyarsk.

Ekaterinburg:

The average offer price of one square meter of total area of ​​apartments put up for sale on the secondary housing market in Yekaterinburg, according to the analytical department of the Ural Chamber of Real Estate, amounted to 68,492 rubles.

Novorossiysk:

In Novorossiysk, the average cost of housing varies depending on the size of the apartments from 58,915 rubles. up to 63,311 rub.

According to the Central Real Estate Agency, changes in apartment owners most often occur in the Leninsky district - 19%. Second and third places in the popularity rating go to Kalinsky (14.7%) and Dzerzhinsky (14.7%). Apartments were purchased least frequently this fall in the Sovetsky district (1.5%).

Read also the latest mortgage news

The State Duma adopted the law allowing the use of agricultural land as collateral when obtaining a mortgage loan in the third and final reading.

The State Duma will consider at a plenary session on Tuesday in the first reading a bill providing for compensation of mortgage loans to large families.

It was impossible not to notice that mortgages have become more accessible in recent years - this is explained primarily by a decrease in interest rates (the average was 9.6% in 2018). The northern regions of Russia became the leaders in the availability of housing loans. This data is provided by the RIA rating agency....

The Central Bank will consider a proposal from State Duma deputies from the United Russia faction to reduce the level of down payment on mortgages for villagers from 20% to 10% for preferential mortgages within the framework of the state program “Comprehensive Development of Rural Territories.” The head of the Central Bank Elvira Nabiullina said...

In 2015, several mortgage lending programs with government subsidies are ending. The government has already developed new social mortgage projects that citizens will be able to take advantage of in 2016. Young families and citizens who work in budgetary organizations will be able to take advantage of the preferential offer of housing loans.

Persons who wish to become participants in such a social program can count on a reduction in the price of the purchased property, government subsidies, or a preferential annual mortgage rate.

Social mortgages 2016 from AHML

In total, next year AHML will offer four types of preferential housing loans to the country's population: a military mortgage, a social mortgage for a house, a housing loan for defense industry employees, and a social mortgage for an apartment.

Such lending programs have a considerable number of advantages in comparison with mortgage programs offered by banks. The minimum annual rate in AHML in 2016 will be only 9.9%, and the down payment will be 10%. This offer significantly outperforms the most profitable bank mortgages, for which the annual rate will be 11.4% with a mandatory down payment of 20%.

People who need housing and are unable to buy it on their own should definitely pay attention to the offers from AHML. After all, in addition to preferential annual interest and a reduced down payment, you can also get an apartment with a reduced cost. This is so-called economy class housing, which is being built specifically for preferential mortgage lending programs. The cost of a new apartment like this is on average 20% cheaper when compared with similar properties on the real estate market.

Terms of new social offers

In 2016, mortgages with state support will be available to families with more than one child growing up, persons with special needs or families with children with special needs growing up, defense industry employees (subject to at least one year of experience in this industry), participants in a state program called "Housing for the Russian family." Regional authorities, at their discretion, can expand the preferential categories that will be able to take advantage of preferential mortgage lending.

The new project allows citizens in need to choose housing among new buildings and on the secondary market. Preference is always given to the first option or even purchasing shares in a house that is still at the construction stage.

New preferential mortgage lending programs will have restrictions on the amounts issued. You can get a minimum of 300 thousand to buy a home. The maximum limit for Moscow is 10 million, and for other regions - 7.1 million. The repayment period for each will be determined individually based on the wishes of the borrower and other factors, but they will certainly be within 3-30 years.

When signing a loan agreement, the borrower agrees to compulsory real estate insurance for the entire period of repayment of the mortgage debt. A new state project will allow partial or full repayment of social mortgages with maternity capital.

We talked about this in one of our reviews. Knowing these nuances will allow you to get a profitable loan and pay it off without problems.

The situation on the real estate market in Russia in 2017 is quite tense. Prices for secondary housing are steadily growing, despite the fact that the standard of living of the population in the country remains the same. Rising inflation, the economic and financial crisis, European sanctions - all this has had an even greater impact on ordinary citizens of the Russian Federation. Representatives of the working class cannot buy an apartment or house even if they save for it all their lives. The only solution for Russians in such conditions is to take out a mortgage.

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Today everyone knows what it is. Housing loans in 2017 are provided by almost all banks in the country. The leader among them is Sberbank. More than half of all mortgages are owned by this financial institution. Russians prefer Sberbank not only because of the wide selection of loan programs and loyal interest rates. The main advantage of the bank is that all transactions are carried out legally and safely, under the strict control of specialists who know the federal mortgage law to the smallest detail.

The project came into force in 1998. However, in April 2017, the State Duma adopted the current version of the law. All changes were introduced to adapt the system to modern conditions and requirements. The project came into force in July of this year. Only an experienced lawyer can help you understand the peculiarities and subtleties of the Federal Law.

A qualified specialist will answer any questions and also explain the rights and responsibilities of citizens, their risks and prospects when applying for a mortgage.

Today, online legal consultations are popular. Remote recommendations significantly save applicants’ time and effort, and also guarantee the efficiency of solving assigned tasks.

Didn't find the answer? Free legal consultation!

The new version of the mortgage bill, which came into force in July, is not the only document that regulates legal relations in this area. Along with it, when drawing up a mortgage agreement, specialists rely on the Civil Code of the Russian Federation. Today there are two types of mortgage lending - by law and by agreement. Regardless of which option will be applied in a particular case, the content of the contract must indicate:

• Subject of housing loan. Its role can be any real estate - apartment, houses, land, construction site, etc. It is important that the document that comes into force provides its location and a detailed description. In 2017, the subject of a mortgage can be rented property, but it must have a period of use.
• Its estimated value. It is necessary to compare and analyze the amount of collateral and the cost of the purchased object. The assessment is usually carried out by independent experts. The foundation for the work is the cadastral and market value of housing with similar parameters.
• Payment Obligations. This clause of the agreement, according to the wording of the law that came into force in July 2017, must indicate the total loan amount, as well as the loan repayment terms. Mortgages are always provided for a long period of time from 5 to 30 years. The commitments must contain a detailed schedule of monthly contributions, as well as the possibility of early repayment of the debt.

The bank and the individual applying for the loan can agree and add additional clauses and conditions to the document. Thus, today it is almost impossible to obtain a mortgage without compulsory insurance of real estate and the life of the borrower.

Insurance increases the loan amount, but eliminates all possible risks. It is also always necessary to make an initial payment.

The amount of the advance may vary depending on the bank's program, but most often the contribution is 20% of the total cost of the property.

The meaning and functions of a mortgage when applying for a mortgage

The version of the law, which came into force in July of this year, provides that the mortgagee, i.e. the bank has the right to guarantee its safety and reduce the risks of financial losses by claiming the mortgage. In essence, this document is a valuable registered paper that is used to pledge real estate. The collateral can be an apartment or house that is purchased with a mortgage or an object that the borrower already owns. It is important that the price of the property matches the size of the loan.

After registration of the pledge, the mortgage will be kept in the bank until the expiration of the mortgage agreement. If the borrower fails to fulfill his payment obligations in good faith, the bank will have the right to sell the mortgage in its favor.

It is important that the document is correctly drawn up and has legal validity, because otherwise it will be considered void.

The main points of the document when pledging real estate are:

• personal data of the pledgor;
• personal information of the mortgagee;
• name, number and content of the mortgage agreement;
• loan amount, size and terms of repayments;
• information about mortgage registration in Rosreestr;
• date of drawing up the mortgage and signatures of the parties.

Changes to the law that came into force in 2017 establish that all changes to the document must be strictly recorded. All costs for eliminating errors and inaccuracies in the document are borne by the person who drew up the document upon pledge. Various papers, certificates and extracts will need to be attached to the main agreement.

When the mortgage debt is fully repaid, the pledge document is submitted to the registration authorities, where a mark is placed on the cancellation of the paper.

Like any real estate transaction, a mortgage, in order to come into force, must be registered with the Unified State Register. According to the 2017 rules, you need to contact the rights registration department according to the location of the property for which the loan is being issued. The registration process is organized at the mutual request of the borrower and the mortgagor. The Unified State Register will independently verify the documents of the parties to the transaction, and will also send a request to the licensing authorities to ensure that the bank has the right to provide a mortgage in 2017. The period for data verification varies between 15-30 days, then the registration certificate must come into force and be issued to the parties to the transaction.

It is worth noting that the register of rights may refuse to register a mortgage agreement or suspend the process.

The reasons for this decision are:

• lack of the required document;
• non-compliance of the mortgage agreement or other accompanying documents with Russian standards;
• the need to carefully check documents for authenticity.

The maximum registration delay in 2017 is one month. Then the government agency must either refuse registration or give the document legal force. The entry in the Unified State Register on registration of a mortgage transaction must strictly comply with the norms established by law, and also contain information about the borrower and lender, the subject of the mortgage, its amount and payment terms. One of the parties to the transaction must pay a state registration fee. In case of payment of loan obligations, you need to contact the Unified State Register and cancel the mortgage registration record.

When registering a mortgage in the Unified State Register, you must also provide a mortgage note, which is also subject to registration in this government agency.