Credit for Training

At the present time only a few banks provide such a credit.
Credit for the training can get the citizens of the Russian Federation or planning to enroll in an educational institution on a fee basis or already students there.

Term of the credit - from 6 to 11 years. The credit may be issued in tranches in the amount of the tuition fee for the next semester and only subject to successful completion of the session. If the Bank cooperates only with a certain educational institution, the credit for studying in other Universities do
not give. The interest rate is from 10 to 19% per annum. Also a requirement of the Bank may be a portion of the cost of training their own (незаемными) means. As security for almost all banks accept the guarantee of Russian Federation citizens having a permanent source of income (for example, working parents).
Mainly credit is given under the guarantee of close relatives. Feature of this loan is that it is non-cash, i.e. the money to pay for the training of Bank transfers directly to the educational institution.
The government of the Russian Federation approved the concept of the experiment on granting educational loans. Now available student loans on preferential terms. In the course of training the student is not obliged to pay to the Bank the principal debt under the loan; in the first and the second year of using the credit student pays only a portion of the interest rate (40% and 60% respectively). Term of return of the credit after the completion of training in a higher educational Institution - from 3 to 12 years, depending on the lender. In addition, to obtain it is not required to pledge or guarantee, and in case of early retirement, no fee is charged. The maximum interest rate on such loans does not exceed 5% per annum. Get a soft loan shall have the right by the students!
Credits are granted on the state program of commercial banks, recognized agents (Sberbank of Russia, Bank «Soyuz»). The state program of educational crediting aimed at stimulation of students to teaching in demand on the labour market specialties (these are mainly technical and scientific-natural).
Unfortunately, the prices of paid education in higher education Institutions for many people remain out of the reach even with the ability to take control of the educational loan.

Tax deduction.
Social tax deduction on training can get the taxpayers, who, in the course of the past year have made the costs of their education, as well as on the education of their children up to the age of 24 years on the full-time form of training in educational institutions. But the deduction shall have the right to receive citizens, who provided tuition fees themselves, having a supporting documents and information about their income.
As well as the money to pay for training the lender shall transfer directly to the educational institution, the social deduction is not available.
However, the question of the extension of the tax deduction on the amount of interest paid on educational loans may be considered after the entry into force of the legal norms regulating the procedure of provision of educational credits.

Mortgage

A mortgage is a pledge of immovable property, which serves as supply of a proper execution by the borrower of obligations under the credit agreement. The mortgage is provided by the payment of all sums due to the Bank-creditor.
Mortgage lending with the purpose of purchase of housing is becoming increasingly popular. In recent years, the growth of inflation is much higher intended analysts level. In addition to inflation there is a natural increase in housing prices. In such conditions, to take the credit and buy housing now moreprofitable than collecting money to purchase it in the indefinite future.

Besides, among the advantages of the housing mortgage lending (in installments) can be noted:
1) possibility in the shortest terms dwell in their own new homes, including in an apartment in brand new building;
2) long-term loan with a fixed sum of payments;
3) the possibility of registration in the acquired under the mortgage loan apartment;
4) profitable investment funds (property prices are rising every year).

A mortgage may arise:
1) by virtue of the provisions of the law;
2) by virtue of the provisions of the Treaty.
In virtue of the rules of law mortgage arises in the case of the purchase of an apartment or other dwelling premises in the property at the expense of the credit of the Bank or other credit organization (the so-called directed lending), in this case the monetary means received on credit, may be directed by the borrower only for the purchase of housing. Conditions on the mortgage of the purchased housing, as a rule, are included in the text of the loan agreement. However, it is possible and the conclusion of a separate agreement on the mortgage in addition to the credit agreement. The dwelling is considered to be a pledge from the moment of state registration of the contract of purchase and sale of the premises. The purchased property will be pledged to the Bank until the full execution of obligations under the loan.
Into force of the Treaty mortgage arises as a guarantee of any loan obligations. The credit funds may be used by the borrower at his own discretion, and in the pledge provided with accommodation, already owned by the right of ownership of the mortgagor at the time of conclusion of the loan agreement. The contract on the mortgage is in writing, is an independent agreement.
The subject of mortgage may be land plots, houses, apartments and parts of residential houses and apartments, consisting of one or several isolated rooms, cottages, garden houses, garages and other buildings, the rights to which are registered in the procedure established for state registration of rights to immovable property.
In the mortgage can be transferred also not completed the construction of the immovable property, constructed on a land plot, designated for the construction of the procedure established by the legislation.
The law allows any transactions with rooms in communal apartments, privatized in private ownership. However, to get a loan for purchase of a room in a communal apartment is rather difficult. Pledged property must be liquid, so that the Bank could easily implement it and to satisfy their claims from the value of the collateral. Rooms in a shared apartment to a highly class does not include real estate. When buying an apartment in new building with a selection of accommodation is limited to objects, which are covered by the banking mortgage program.

Car Loan

One of the forms of consumer credit is a credit for purchase of a car.
The car is collateral for the loan, therefore, up to the moment of credit repayment passport of a transport vehicle (PTS) of the vehicle is stored in the credit dossier of the borrower in the Bank. In case of impossibility of repayment of the credit the Bank has the right to reclaim the Deposit by
means of its implementation in consultation with the borrower. The cash proceeds from the sale are directed to the repayment of the loan.
In the absence or insufficient quantity of the own funds of the car loan is the opportunity to purchase their own vehicle (both new and used vehicles, but not older than nine years). To this type of lending applies, the credit for the acquisition of the motorcycle.

Consumer credit

Consumer credit - the credit granted to individuals. Consumer loans are most often taken on the repair of apartments, purchase of furniture, household equipment, training, medical treatment, payment for package tours. Consumer credit is with a pledge (the guarantors) and without collateral (without guarantors). Proceeds of credit, issued by a borrower, may spend as in its discretion (non-credit), and so for a specific purpose (purpose loan).

About loans

Loan - a loan agreement between the lender and the borrower about the provision of cash or commodity-material values to certain conditions (payment of interest and repayment period) with a view to ensuring any activities that meet the needs and etc.
Mandatory elements of the credit agreement are subjects of the agreement (the lender and the borrower), the subject of the contract (that is passed to the duty of the goods, money, etc.), timethrough which the debtor must return the amount of the loan, and the condition of payment, i.e. on paying back of the money, with the increase for a certain value (in percentage), which is a charge for the use of the loan.
In credit transactions must be observed that allow the return movement of funds, namely: the principles of maturity, recovery, security, payment of interest and differentiation. The application of all the principles of crediting allows to observe the interests of the Bank (the lender) and the borrower.
Commercial banks provide their customers various types of loans, which can be classified according to various criteria.
First of all, the loan is classified by main groups of borrowers. The loan may be issued by the state and non-state enterprises and organizations, the population, citizens engaged in individual labor activity, state authorities, other banks.
Depending on the direction of investment credit resources allocated loans: consumer, agricultural, investment, budget, industrial.
Different terms of repayment of the loans allow you to distinguish loans are short-term (issued for a term of up to one year), medium-term loans (with a maturity of 6 to 12 months) and long-term (term of payment of which are beyond the year) .There type of loan of special urgency, онкольный credit (from English money on call «the loan on demand»), which is repayable on demand.
The size distinguish loans to large, medium and small.
Bank loans are classified depending on the currency used in lending: loans in rubles, us dollars, Euro; to ensure - unsecured (blank) loans and secured, which in turn are divided into mortgaged, guaranteed or insured, as well as for loans without collateral.
By way of the issuance of Bank loans are distinguished for loans compensation and payment. The compensation credit is sent on the settlement account of the borrower to compensate the last of its own funds. Paying the loan shall be forwarded directly to the payment of the settlement-cash documents presented by the borrower to pay.
On the methods of repayment distinguish Bank loans, repayable in installments (parts of) and loans repaid in a lump sum on a specific date.

For the population of the loans is divided into:
• Consumer credit
• Car loan
• Mortgage

Mortgages are still available

The insufficiency of the measures taken by the government of the Russian Federation for the development of the market of mortgage lending is one of the reasons that have already more than 10 years of a mortgage does not become more accessible for the vast majority of the population.

Russia took the 47th place out of 60 in the rating of the value of the mortgage loan in 60 countries, compiled by the campaign of Penny Lane Realty. When making the rating, experts of the Agency took into account the average interest rate, payments for opening and maintaining the loan account, the cost of housing. A basis for the calculations was taken as the standard for the citizens of the Russian loan in the amount of 122 Euro 250 (5 million rubles) for 20 years with an initial contribution from 30 to 40% of the total cost of the apartment.

From the rating can be seen, for example, that a Russian citizen for 20 years shall pay an amount in 2,5 times more, than the sum of the loan received. For comparison: the Danish loan will cost only 1.11 times more expensive. Moreover, if we take into account that the average monthly income per capita in Russia in 2010 was 464,2 Euro (18 552,6 RUB.), and in Denmark - 4334,9 Euro, it turns out that the average citizen of Denmark spends on mortgage only 13% of the monthly income, while an average Russian on the monthly payment on the mortgage would barely three salaries.

It turns out, that inhabitants of our country is unprofitable to buy property in mortgage both for its own needs and for investment purposes. That is, for subsequent leasing. Meanwhile, in the countries with cheap mortgage this is a fairly common business.

The Russian authorities actively promote such a tool for solution of the housing question and excretion of the construction industry from the crisis, as a mortgage. However, the research of independent experts demonstrate: an instrument of mortgage lending in Russia actually does not work. In a country of only 4 million citizens can afford buying on credit apartments on the secondary market and 9 million. - in the primary. If this really for the last five years of the mortgage taken advantage of only 1.3 million citizens. In the conditions of low income and high mortgage payments alternative tool for solving the housing problem could become a social housing. But that officials prefer not to remember, because it is too costly for the budget.

The main reason of low popularity of mortgages lies in its inaccessibility. At current interest rates and the value of real estate long-term mortgage is not economically feasible. Citizens are willing to overpay not more than 20-40% of the value taken on credit property, but in practice this overpayment is 150%. Therefore, the mortgage issue in the main only those Russians who want to throw themselves the burden of debt ahead of schedule - within 5-7 years.

As the research has shown, in order to pay off the 20-year mortgage with a rate on the loan of 12.4% per annum and an initial contribution of 20%, the average of the Russians must have a monthly income at a level of not less than 30 thousand roubles a month. Of course, in the country there are workers who, for example, in the gray scheme receive a salary much more than this amount, and hence, theoretically they, too, could afford a mortgage. However, the study authors, banks in 99% of cases, despite the advertising statements, align themselves with the white of income levels.

Depending on the region the availability of mortgage varies greatly. A resident of Moscow, to pull a mortgage, must have a monthly income at the level of 70 thousand rubles., a resident of St. Petersburg - 42 thousand rubles., and, for example, the Murmansk oblast - 11.7 thousand rubles. In the end, the mortgage is the most accessible in remote corners of the country, where it technically can afford almost 50-60% of the working population, and in the large and Central regions it becomes a real luxury. So, mortgages affordable for only 7% of Muscovites.

Prime Minister Vladimir Putin, for example, not so long ago, promised that in the nearest future the mortgage loan will cost citizens in 5-6% per annum. Not less than one-third «of Russian families (now about 12%) should have the opportunity to buy a home with the help of own or borrowed funds already to 2015», - he said in April. This, according to him, will be achieved, including, «at the expense of housing loans, of social subsidies, the parent capital».

However, this is not the first of its kind promise of a Prime Minister. It might do it? As announced recently the head of the Agency for housing mortgage lending (AHML) Alexander Semenyaka, to lower interest rates on mortgage, it is necessary to reduce inflation, reduce the margin and maintain competition in the market. In 2011, in his opinion, the rates can be decreased by 1%.
However, the Director of the center for economic research muif Sergey Moiseev much in doubt. In his opinion, the interest rate on mortgages is likely to only grow. Banks will now take on such a risk is high, the expert is sure. By the end of the year mortgage rates may rise by 0.5%.

A similar opinion is shared by other experts. According to them, take a mortgage now is also because of the constantly rising prices of the real estate. Reduction of volumes of construction and is already a shortage of proposals to predict the growth of prices. In conditions of stabilization of the economic situation, taking into account factors such as exchange rate fluctuations, reducing the volume of supply of new buildings, the activation of the mortgage in the market of new buildings, a gradual reduction of interest rates on credits, increase of the cost price of construction and General inflation, future prices will gradually rise. On results of year growth of prices on the market of new buildings can be up to 8-10%.

As evidenced by the report of the Agency for housing mortgage lending (AHML), the share of mortgage loans in the portfolio of the Agency, the payments on which are overdue for a period exceeding 180 days, according to the results of the first quarter was 7.17 per cent of the portfolio.

The state could buy from the banks of the apartments of the citizens, who took mortgage and find themselves in a difficult life situation. And then this housing would be provided to unfortunate mortgage borrowers in the form of social hiring. Such proposals are contained in a bill submitted to the state Duma.

As stated in the explanatory note, the bill sets a legal basis restructuring of the debts of citizens - borrowers who are in difficult life situation and have lost the ability to timely repayment of the loans received under pledge (mortgage) of premises, "in order to improve the financial status of such citizens, as well as - in order to stimulate the mortgage market in the Russian Federation and purification of the credit sphere of the loans, bad to maturity".

Under the "difficult life situation" deputies understand the situation objectively violates the vital activity of the citizen (disability, incapable of self-care due to old age, illness, orphans, homelessness, poverty, unemployment, lack of a place of residence, conflicts and cruel treatment in the family, the loneliness, and the like), which it cannot overcome on their own.

The draft law proposes to grant the state and municipal Executive bodies the right to buy back for state and municipal needs accommodations that are the subject of mortgage loans. Repurchases may be made from the owners who are in difficult life situation and asked for help with the application. The citizen shall have the right to use their right to redemption for the state and municipal needs of residential premises, which is the subject of a pledge on the mortgage loans only once. That is, if a person managed to take a few of mortgage loans and are unable to pay him, the state of him for several apartments is going to help us.

The area of the residential premises, which is paid upon redemption, shall not exceed the equivalent of each resident redeemable  the premises of a family member of the citizen of the mortgagor rate of the provision of premises, established in the corresponding subject of the Russian Federation. The living room redeemed at the market price. To determine the market price of the Executive bodies of the book estimate of the value of repurchased housing. The owner of the pledgor of the residential premises is a contract of purchase and sale at the price determined by an authorized appraiser.

The purchase of residential premises shall be taken on the balance sheet and accounted for as state (municipal) ownership. From the moment of registration of property rights, relations with the former owners are regulated by the Housing code as social renting.

The former owner of the object of pledge, according to the draft law, has the right of repurchase of the housing at a price, which is equal to the amount transferred to the creditor plus the amount of interest calculated at the rate of refinancing of the Central Bank on the day of submission of the application for repurchase.

Debt pit

For the last decade has seen a real credit boom: increased volumes of consumer lending increased the number of users of credit cards, purchase on credit of a car or an apartment has become the norm. The world financial crisis turned growth of distressed borrowers. Those who regularly make payments on the loans, suddenly found themselves insolvent. In most cases, this force-majeure circumstances: reduction of income, loss of jobs, the elimination of their own business, long-term disability or a disability. The debtor would be glad to return to duty, but cannot do so because of the crisis lost their source of income. The amount of the debt and the penalty interest on the loan monthly increase, and in the life of the debtors appear annoying officers to return the debt - collectors. The banks do not profitable to apply to a court due to the length of proceedings, so they all means seek to induce the debtor to pay. However, in Russia, the collection of debts as a civilized kind of activity is only being formed. Collection business is perceived as a gangster, and, unfortunately, this is not enough evidence. After all, the law on collection activities does not exist yet.
With the rise of lending in Russia has grown as well and fraudulent activities. Please in the network of deceivers and become the debtor of the Bank is very simple.
Not to get into debt hole must be legally competent person, at least have a General idea of lending, know their rights and duties.

How to get out of debt trap

The loan is a very popular way to get a lot of money here and now, among some people it is even fashionable. Many allow themselves to buy on credit expensive household appliances, car or purchased a home on the mortgage program. But any fairy tale sooner or later comes to an end. The loss of a job, loss of a stable income, reduction in production, growth of prices, the loss of disability - all of this can put borrowers in a desperate situation.


 The amount of the debt and penalty interest on the loan may grow in geometric progression on a monthly basis.The procedure of debt collection through the courts for banks takes several months, and one hundred% guarantee of repayment of the funds does not give. Therefore, the banks «sell» the debts of its negligent borrowers in the so-called debt collection Agency. Collectors can return the money to the creditor within a few days, just knocking them out of the debtor.


Be sure, if the borrower have problems with credit, then in his life soon there will be people with impunity will intimidate and threaten, bringing their victims to nervous breakdowns.