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.