It happens that relatives or spouses jointly own real estate (article 244 of the Civil Code of the Russian Federation). Or ex-husband and wife (or just a group of relatives) share the living space. Strangely enough, this problem concerns not only the legal and judicial sphere, but also the banking sphere. Acquiring a share of any residential property is a fairly common practice in the field of mortgage lending. Sberbank, for example, has calculated that such a mortgage as part of its work accounts for approximately 25% of all mortgages as a whole. Mortgage to share in the apartment takes place when the following conditions are met:
Causes cautious policy of banks in the field of equity mortgages
For example, there is a four-room apartment and three owners. One of two rooms, two others – one each. If these two have no objections, then the first owner pays them a monetary compensation equal to the market value of these rooms (calculated relative to the market value of the entire apartment). And that’s all – the purchase of an apartment share is complete. Now the sole owner in the financial plan will deal only with the bank. For it was this financial institution that gave him the mortgage for the purchase of a share in an apartment. But the bank does not always agree to a loan for redemption. Why?
There are three reasons for this:
- The fact is that in 90% of all incidents with property shares, the parties have or had close / family relations. They are divorced husband and wife, children and parents, brothers and sisters. That is, this case is such that a mortgage can only be purchased from a relative. Suppose a borrower receives a loan for a share in residential real estate. He gives money to his relatives, becomes the full owner and … starts to put out a mortgage loan with the same money, because the relatives, being by agreement, returned it to him. Why is it for relatives? Here we can assume different. For example, they relate to themselves loans to banks, and in order to avoid losing their property, they decide to transfer it to the borrower for a while. Property can be transferred in any way. A lot of scenarios can be assumed. Strictly speaking, the creditor bank does not care – the main thing is that the loan to the share is gradually being returned. But from an objective legal point of view it smacks of fraud. Some banks value their “purely brilliant” reputation and will not want to deal with such customers.
- But this is not the main reason. The main reason lies in the other. It happens that the borrower after the implementation of the mortgage on a share in the apartment does not become the sole owner. For example, for borrowed money, only one room is purchased. For a bank, this means that in the event of a bankruptcy of the borrower from such collateral, there will be little use. Since selling it even on the cheap is much more difficult than an entire apartment or house. The demand for private rooms and private houses is incredibly low. In fact, the bank will remain with useless ballast for it, with a piece of real estate that is extremely difficult to convert into money. That is why it is almost always a prerequisite for a financial organization to be a clause, implying that after the buyout of a share, the borrower will become the sole owner. That is, the money is given out for the “last puzzle,” and not for the “puzzle” as such. Although the situation on the real estate market varies depending on the scale of the city. For example, in Moscow, where living space costs a fortune, and a room in an apartment is worth its weight in gold, which makes getting mortgages more affordable. But in the small, provincial city demand and, therefore, the chances are several times lower.
- And the last, third factor, when the borrower is going to purchase a part of the housing, which one of his relatives already has rights, for example, by will or donation. Then the potential legal owner may challenge the act of sale in court, after which the borrower will lose this share, the bank will lose the collateral, and the unsecured loan will “hang” for an indefinite period.
Offers from other banks
Because of this, banks are conducting inspections. Of course, the agreement between relatives of the institution will not disclose, but the check for compliance with the second and third conditions is carried out carefully. But how to take such a special mortgage? Yes, similar to the one that is given to the whole housing. The main stages are the same and the set of documents is the same. What banks give loans to buy a share of an apartment or part of a house? You can take a mortgage to get ownership of a share of real estate in many credit institutions. Sberbank, the largest bank in Russia, is actively engaged in equity lending. But here they will give a similar loan only if one of the two conditions is strictly observed:
- after purchasing a share through a mortgage, all real estate passes to the client (this has already been said). For example, a fully redeemed house, but with only half of the original ownership;
- or the remainder of the property is fixed in the property of the husband / wife of the borrower (the borrower).
The second point should be explained. When the spouses have “advice and love,” and each of them owns half of the apartment / house, then the other half and there is no need to take a mortgage. A wife or husband may simply give his wife a share (according to Article 246 of the Civil Code) if the family wants the owner to be alone. The second point is relevant for the situation when the wife / husband owns only part of the property, and the second part does not belong to either the wife or the husband. Here are several options. For example, there is a third party that can claim part of the living space. Or the share is already owned by another relative of the wife / husband who agrees to sell it. Sberbank offers a loan for a house in accordance with the following parameters:
- loan amount – from 300 thousand to 15 million rubles;
- loan amount can not exceed 80% of the market value of housing;
- annual interest – 12%;
- loan period – up to 30 years;
- as a pledge to secure a loan, the entire real estate is always drawn up, that is, the mortgage will not be issued by the mortgage on the security of the apartment;
- welcome when one of the spouses acts as a co-borrower.