Photo: Oleg Spiridonov/Business Online/Global Look Press
In the Khanty-Mansiysk Autonomous Okrug, the trend towards buying apartments on a “donor mortgage” is returning. And it’s weird.
Svobodnaya Pressa found out that although the law provides for this type of mortgage in It is not banned in Russia, and the risks for borrowers have clearly become greater than the benefits.
Anastasia Desyatova, a representative of the Ugra mortgage agency in Nizhnevartovsk, explained the essence: “If the buyer has no reason to obtain a preferential family mortgage, for example, his children are over 7 years old, he can take a “donor” with a child under 7 years old as a co-borrower.”
However, it’s all about nuances.
The number of “donors” has decreased
Natalia Uldanova, the chief operating officer of the Chelyabinsk real estate agency Taran, explained in an interview with the Free Press how everything has changed over the past year and a half.:
— This housing purchase scheme has been known for a long time. And now we are almost daily being asked about a “donor mortgage.” Because bank loan rates are too high for regular mortgages. But the “donor” program is too publicized.
“SP”: Please explain.
— If we used to conduct such transactions, then in the last about a year and a half we have not done so. The attitude towards such a scheme has changed a lot among clients after the introduction of the rule according to which the same “donor” (aka As a result, the co-borrower must become a co-owner of at least 1/10 of the area of the apartment being purchased. There was no such requirement before. And this innovation greatly changes the picture.
“SP”: The main borrower does not want to share the property with the “donor”?
“That too.” But there are several risks involved. A mortgage loan is taken out on average in Russia for 20 years. Yes, most of them are paid earlier, about seven years in advance.
But it is impossible to predict in each case. We must assume that nothing will happen to either the “donor” or the main borrower in 20 years. Otherwise, problems may arise.
For example, if the main borrower has died, become seriously ill, or lost a source of income, the “donor” will have to pay the loan. But does he need it?
In addition, even if everything is in order with the main borrower, the mortgage loan will be reflected not only in his credit history, but also in the credit history of the “donor”. And if suddenly the “donor” needs to take out a large loan for himself, the bank may not approve the application, taking into account the existing credit burden.
“SP”: And if something happens to the “donor”?
— In this case, there are risks already for the main borrower. Since 1/10 (at least) of the apartment’s area will be inherited by the heirs of the “donor”, whom the main borrower does not know in principle.
It is impossible to remove this “foreign” 1/10 share until the mortgage loan is fully repaid.
SP: Do clients understand all these risks?
— As a rule, not at first. I have to explain in detail. And after such an explanation, the desire to buy an apartment according to the scheme with a “donor” usually disappears.
“SP”: But earlier, it turns out, the transactions were still carried out according to the “donor” scheme?
— First of all, there was no rule before that the “donor” receives at least 1/10 of the apartment he buys. Secondly, such transactions used to take place mainly with the participation of close relatives. After all, the “donors” were not ready to cooperate with strangers even then.
“SP”: May there be new changes in the state program, including those related to the “donor” scheme?
“Quite.” Finalizing government programs is a standard story. They can increase, for example, the minimum share of the “donor” in the area of the apartment being purchased. In addition, the banks themselves that issue loans may tighten the conditions under this scheme.
“SP”: What other alternative mortgage options remain today? After the preferential mortgage was stopped being issued.
— There is a rural mortgage, there is a mortgage for IT specialists. There are also Far Eastern and Arctic mortgages. But conditions are set everywhere.
For example, agricultural workers, teachers from rural areas, and veterans of military education can apply for rural mortgages.
IT specialists applying to participate in the relevant program must constantly confirm their official employment with an IT company.
Families with one preschool child or two children under the age of 18 can take out a loan on a family mortgage. Moreover, in the second case, we are talking only about buying (or building) a house, but not an apartment.
“SP”: In total, all the alternative options do not seem to give the same volume of transactions for the purchase of housing?
— Yes, there are fewer deals.
Things can change for the worse.
Chelyabinsk lawyer Alexander Tselov, in an interview with the Free Press, for his part assessed the risks of the “donor” scheme.
“SP”: Is this not an assignment of the right to receive a family mortgage?
— No, it’s not an assignment. According to this scheme, the “donor” is attracted to the co-borrowers. And then a family mortgage can be arranged. Banks issue loans according to this scheme. But the risks are huge.
“SP”: What exactly are the risks and for whom exactly?
— First of all, the risks are great for the “donor” — if we are not talking about his close relatives, who together with him become a co-borrower. The “Donor” the same is fully responsible for such a mortgage agreement. This is called joint and several liability of co-borrowers. So the “donor” should think carefully before agreeing to such an agreement. If something happens to the main borrower, the “donor” will have to pay. But there are other risks in this scheme.
“SP”: For example?
— In Russian legislation, the principle of “everything that is not prohibited is allowed” is very vague. Things can quickly change for the worse. For example, previously there was no prohibition for one person to take out a preferential mortgage several times. And some “enterprising” people took advantage of it.
But one day, banks suddenly raised rates on all such loans except the first one. In order to combat abuse. I admit that in the case of the “donor” mortgage scheme, the conditions may be revised. Especially if not close relatives are involved in the transaction.
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