Apply for a mortgage for a room or share in an apartment in 2021

The problem of buying a home never loses its relevance. At the same time, the cost per square meter, especially in large cities, sometimes becomes completely prohibitive for potential buyers. In such a situation, many begin to wonder: is it possible to take out a mortgage for only part of the living space? Legislation regarding lending to individuals is constantly changing, and if previously it was possible to purchase only a house or apartment with a mortgage, now a mortgage is available for a room or a share in an apartment. There are many subtleties to such lending. Let's look at them.

What is the difficulty?

Banks prefer to issue mortgages for “whole” properties. As a result of registration, they can easily place an encumbrance on the item of purchase and keep it as collateral until the loan is paid in full. It’s not so easy to do this with a share in its pure form, and banks won’t issue mortgages without collateral.

Difficulties:

1. The transaction of purchase and sale of a share itself. You need to negotiate with the other co-owners and sell, first offer the purchase to them. If they refuse, then look for other buyers. There is a risk that something will go wrong and the deal will be challenged.
2. It is impossible to accept a share as collateral. If suddenly the borrower stops paying, the bank will need to sell the collateral and cover losses. And selling a share is a complex process that requires obtaining consent from the co-owners.

Many banks simply refuse to issue mortgages for shares, since they do not need problematic transactions at all. It is easier for them to lend to ordinary apartments and houses, which become collateral. Fortunately, the queue of borrowers is only growing, so options with shares by banks are not interesting.

Is it worth getting a shared mortgage?

A loan to buy out a share in an apartment is a complex procedure that requires special precision and care from the borrower. From the bank’s point of view, such a program is unprofitable, because there are significant risks associated with the client’s solvency and the further sale of illiquid living space.

If we consider a shared mortgage from the borrower’s side, we can highlight several advantages:

• low cost of housing;
• low interest rate, as a result, small payment.

Among the disadvantages are difficulties in design.

Ideally, it is better to consider full-fledged options for apartments or houses - this way the borrower can protect not only the bank, but also himself.

If we are talking about the last share in the apartment

It happens that after purchasing a share, the apartment will become the full property of one person. For example, you have ⅔ of an apartment, you buy the remaining ⅓, and the property becomes entirely yours.

The option of purchasing the last share is the most realistic. In this case, you can find several banks that will finance the transaction.

As a result of registration, there will be an entire apartment of one owner, and an encumbrance can be placed on this object without any problems. And this will no longer be a shared mortgage, but the most ordinary one. And many banks issue these.

Since this is a share, we will only talk about purchasing real estate on the secondary market. Here is a list of banks that you can contact, with the main conditions for concluding an agreement:

The base rate is a relative concept that should not be relied upon. Banks apply increasing and decreasing coefficients to the base value. For example, in Sberbank the increasing ones are:

• 0.3% for applying for a mortgage not online;
• 0.3% for choosing an apartment not on Domklik.ru;
• 0.4% if the down payment is less than 20%;
• 0.5% if the client is not a salary client;
• 0.8% if a mortgage is issued without certificates;
• 1% when canceling life insurance.

In general, you can contact any of these banks and apply for a mortgage on your share, provided that it is the last one. The legal department will tell you how to formalize everything correctly so that the bank accepts the entire object as collateral.

Refund of interest on shared mortgage

Each borrower can obtain a tax deduction for the purchase of real estate and payment of interest. The maximum taxable amount for property is 2 million rubles, for a mortgage - 3 million rubles. Thus, the borrower can return up to 260 thousand rubles from the purchase of a home and 390 thousand from a mortgage loan.

Important! The amount depends on the official earnings of the taxpayer. The state will not pay the borrower more than he previously transferred.

The applicant can calculate in advance the approximate amount of tax deduction for the year using an online calculator.

What is needed to apply for a mortgage on a share

The object is not simple, so the criteria for the borrower will be slightly higher. The basic requirements for mortgage borrowers in banks are standard. Typically, loans are given to citizens over 21 years of age who work officially and have more than 3 months of experience in the declared position.

The main thing for the bank is that the borrower is able to repay the loan, so close attention is paid to the level of his solvency. What plays a role:

• total monthly income from all sources, proven by certificates;
• work experience. The higher it is, the more confidence in the borrower. Usually a copy of the work permit is required;
• current mandatory expenses. For example, for other loans, for child support.

Since we are talking about a share, a more complex piece of real estate, the bank will be more demanding. The transaction will be approved only if the borrower is perfect on all sides.

To increase your chances of getting a shared mortgage approved, you can contact 2-3 banks at once. If multiple approvals come in, you can choose the best offer.

What documents need to be collected

For a mortgage you must provide:

1. Passport of the Russian Federation with registration mark.
2. Second document (driver's license, SNILS, INN, international passport).
3. Certificate of marriage, birth of children.
4. Certificate in the bank form or 2-NDFL for the last six months.
5. A copy of the work record, certified by the employer.

After approval, it is necessary to present documents for the purchased housing, the security deposit provided, a certificate confirming the availability of a down payment and a real estate insurance contract.

If we're not talking about the last beat

In this case, everything is more complicated. It is no longer possible to buy a share of a mortgage using the standard scheme. Banks will not agree to such a deal, since they do not get involved with shares at all; they are only interested in entire objects that will not bring any legal problems.

For example, an apartment has 3 owners, each with a third. And you want to buy one third of this property with a mortgage. It turns out this:

1. The owner of the third being sold must send formal offers to purchase his share to the other co-owners. Sale is possible only if this issue is resolved.
2. Refusals are received, the potential borrower goes to the bank to apply for a mortgage on the share.
3. The bank sees that only a third of the apartment will be mortgaged, the remaining ⅔ belongs to other people. The bank will not be able to accept the entire object as collateral, so it will refuse the transaction.

There is no hope for the deal to be approved at all. In its pure form, it is simply not possible to obtain a mortgage for a share; not a single Russian bank will accept only part of the apartment as collateral.

The fact is that if there is a delay, you will need to sell the object. But it is difficult to sell a share, especially since its price is always low. Plus you will have to resolve issues with other co-owners. Banks don’t need this fuss, so they simply refuse to conclude an agreement.

What are the types of shared ownership?

According to the law, shared real estate has two types:

1. Shared ownership is an option in which several people are considered home owners and their share is expressed not in square meters, but as a percentage. For example, each member of a family of 4 owns ¼ of the house.
2. Private property is a type defined by specific dimensions expressed in square meters. m. The owner of the house has the right to use only the square meters allocated to him. A good example is a communal apartment.

If you leave another property as collateral

If you own another whole property, you can offer the bank to accept it as collateral. That is, the bank issues you a mortgage loan to purchase a share, but takes as collateral not the property being purchased, but the one that is already owned by the borrower.

In this case, if claims arise, the bank will simply foreclose on the mortgaged apartment and will be able to sell it without any problems. The borrower will have the purchased share and the remaining money.

Many mortgage banks in the Russian Federation will be ready to make such a deal. But everything still needs to be agreed upon. Plus, the mortgaged apartment must fully comply with the bank’s requirements.

Underwater rocks

Any bank is interested in justifying its risks by obtaining ownership of the entire property, and not a share in it. This is not beneficial for banks, since it will be problematic to sell the share without taking into account the interests of the remaining co-owners.

Therefore, when contacting a bank to apply for a shared mortgage, you should consider several important aspects:

1. How many apartment owners are there on the day the application is submitted to the bank?
2. How many co-owners will remain after the client buys out the share or shares.

Why do banks primarily pay attention to the number of shares and their owners? This happens for one reason: the bank analyzes the situation for the future.

If the client does not have a single share in the apartment in question, and there are two or more co-owners, then the bank will take big risks by approving a mortgage on such conditions. In case of failure to comply with the terms of the loan, only the client’s share will become the bank’s property. Subsequently, it will be difficult to implement it without the consent of the remaining co-owners and their written waivers of the right of first refusal.

Expert opinion

Alexander Nikolaevich Grigoriev

Mortgage expert with 10 years of experience. He is the head of the mortgage department in a large bank, with more than 500 successfully approved mortgage loans.

Finding buyers for a share in an apartment where there are several co-owners is not easy. Why should a bank burden itself with these bureaucratic obstacles because of a small stake in real estate? It’s easier to refuse a loan.

The second risky situation for the bank is concluding a transaction to purchase a share between close relatives or former relatives who have not registered their marriage with other persons. Such transactions are perceived by banks as suspicious and have a high probability of being rejected for mortgage lending.

Get a simple cash loan

Often the simplest solution to the issue is to issue a simple consumer loan in cash. This is a non-targeted loan; the borrower spends the money at will without reporting. That is, the funds received can easily be used to purchase a share.

Since we are talking about a decent amount, you will need to collect certificates from work. The maximum term of the agreement is 5 years, and the borrower must be solvent enough to repay this loan.

Consumer loans are issued in 2-3 days. You immediately receive money and can give it away to purchase a share. But an important point is that cash loans are always more expensive than mortgages. If a mortgage can be issued at 8-9%, then a loan can be issued at 15-18%.

Allocation of part of housing to children

A separate issue is when the borrower’s children will appear in the transaction. Here we are talking about allocating a share to a minor child. The family’s ability to move to a new home will depend on this.

In this case, everything will be decided depending on the specific situation:

• The acquisition of property with the involvement of maternal capital, which means that the child will have to allocate a share according to the law. Otherwise, the bank will refuse.
• The purchase of housing will be carried out in a household where part of the property already belongs to the child. Then the mortgage agreement takes into account the fact that the minor will become the legal owner of the property in the future.

Conditions

The terms under which a loan can be issued are determined by what the borrower is willing to provide as collateral, as well as a number of additional factors. Several programs are offered under which you can buy out a share of real estate.

Under what mortgage programs of Sberbank can I get a loan for a share?

You can buy out a share in an apartment or house using one of the following programs:

• Consumer loan. Funds are issued for a period of up to 20 years. The rate is 12%. The minimum loan amount is 500,000 rubles, the maximum is up to 60% of the price of the collateral property (up to 10,000,000 rubles). Insurance required.
• Promotion for new buildings. Funds are issued for a period of up to 30 years with an interest rate of 7.4%. The amount starts from 300,000 rubles. This program is aimed at purchasing housing from the selling company. Once the loan is approved, documents must be provided within three months. It is possible to receive a loan in two equal installments and use a letter of credit. The maximum amount is up to 85% of the price of the purchased or pledged property. The down payment ranges from 15% if income is confirmed and 50% if there is no confirmation.
• Purchase of finished housing. Funds are issued for a period of up to 30 years at an interest rate of 8.9%. Down payment – ​​from 15%. The minimum loan amount is 300,000 rubles, the maximum is 85% of the price of the collateral or loaned object. The property pledged as collateral is subject to insurance.
• Mortgage + maternity capital. Owners of certificates for maternity capital can receive from 300,000 rubles. for a period of up to 30 years with a rate of 8.9. The purchased property is registered as the property. If wages are not credited to the card of this bank, you must provide documents confirming the client’s income level.

There are also preferential programs intended for certain categories of persons:

• Young family. A program for clients aged 21-35 years, which does not require confirmation of solvency and assumes a rate of 8.9%. Loan terms are up to 30 years. The down payment is 10% for couples who have a child, and 15% for those who do not have children. The advantage of the program is that it is possible to receive funds in the amount of 80% of the appraised value of the purchased home.
• The large family. Families with three or more children are offered small rates and reduced interest; the down payment can be from 10%.

Reference. For families awaiting replenishment, the bank may suspend loan payments for 12 months.

How does the procedure proceed?

The process of obtaining a mortgage to purchase a share in an apartment at Sberbank is as follows:

1. First, you need to select a convenient bank branch and fill out a form there, indicating all the necessary information, along with providing the required documents.
2. Bank specialists usually make a decision within a week, notifying the borrower about it via SMS or phone call.
3. When the mortgage is approved, the borrower will receive information about the terms and amount of the loan.
4. All documents for the purchased property are provided.
5. When applying for a mortgage, the real estate becomes collateral to the bank. The right of the mortgagee is certified by the mortgage. When using maternity capital, the amount to be paid at its expense is indicated, and the obligation to contact the local Pension Fund of the Russian Federation with an application for the transfer of funds.
6. The borrower signs the agreement and mortgage. After this, he submits the documents to the registration chamber to formalize the transaction. Usually, a bank employee is present during its registration.
7. The transaction is most often registered after 5 business days. Why does the borrower take the certificate of registration of ownership and transfer the documents to the bank. Afterwards, Sberbank employees transfer the money to the seller’s bank account.