When people want to get a mortgage, they turn to large and time-tested banks. That is why the choice of many borrowers falls on Sberbank. This institution has a long history and an impressive customer base. Many loan programs there have government support. However, there are also pitfalls in his mortgage. If you are interested in learning about them, read our article to the end.
The most common risks when applying for a mortgage at Sberbank
Financial specialists have found out the main facts that you should pay attention to when concluding a loan agreement:
- The specificity of the loan agreement is that everything is spelled out in the document verbatim. All conditions are clear and understandable. Clients have special requirements. When concluding a loan agreement, the client must be prepared for restrictions until the loan is fully repaid, currency risks, commissions and fines.
- Also, when concluding a loan agreement, it will not be possible to avoid additional paid services and sanction fees.
- When concluding a collateral agreement, the client is faced with restrictions on transactions with an apartment or house, and special conditions for preserving real estate under collateral.
- When applying for a mortgage, the borrower will not only have to enter into two contracts, which will lead to unwanted financial risks, but also pay for additional services. These are government fees, commissions when repaying a loan through ATMs, payment for notary and insurance services. Payment for the services of specialists conducting real estate assessments is also required.
Let's look at the risk factors in more detail.
How to take into account all the pitfalls
To avoid the pitfalls of a mortgage, you need to do the following:
- carefully study the contract and all its clauses written in fine print;
- if there is a misunderstanding of what is written, you need to seek clarification from a Sberbank credit manager or a lawyer;
- Realistically assess your financial capabilities so that payments do not hit you in the pocket.
Do not rush to sign a mortgage agreement with a suspiciously low interest rate. Perhaps pitfalls lie in other clauses of the loan agreement. It is they who will lead to additional financial costs.
Terms of the mortgage agreement
Many clients choose Sberbank because it has the lowest interest rate. The bank participates in various government projects that allow special categories of the population to take out loans on more favorable terms. Among these categories are young families, military personnel, civil servants, young specialists in the field of science, pedagogy and medicine.
Important! Each client can calculate the interest rate level and the amount of monthly payments in advance using a calculator on the official website of Sberbank.
This bank does not limit citizens in choosing the type of real estate. However, the type of property affects the interest rate. When purchasing apartments in new buildings, the interest rate is 7.9%, when constructing individual housing - 12.25%. At Sberbank, the loan agreement is valid for 30 years.
When choosing a mortgage lending program, it is recommended to pay attention to the following parameters:
- Interest rate. In the online calculator, the borrower indicates his income, down payment and term of the loan agreement. Thanks to this, you can find out the approximate interest rate;
- Terms of the loan agreement. The shorter the period, the less the final overpayment will be. If the deadline is long, the application will be approved with a high probability;
- Use of maternity capital. The funds can be used to repay the loan;
- The card on which wages are calculated. If the borrower has a Sberbank card, then the interest rate is reduced by 0.5%;
- Application format. When submitting an application online on the Sberbank website, the interest rate is reduced by 0.1%;
- Availability of insurance. The rate increases if there is no insurance;
- Using the services of Sberbank before applying for a mortgage. If the client is served by the bank for the first time, the rate may be increased.
Refinancing interest rates
Refinancing a bank mortgage concerns the interest at which the mortgage was taken out. Therefore, it is worth understanding how the interest rate on your loan will change after the procedure. To explain everything in more detail, we will use the table.
| Loan size and terms of provision | % rate for 2022 |
| less than 300 thousand rubles | 12.9–16.9 |
| less than 1 million rubles. | 12.4 |
| From a million | 11.4 |
| Loan refinancing (Sberbank) | 11.9–19.9 |
| Required loan amount | from 30 thousand rubles, up to 3 million rubles. |
| Loan period | 3 months – 5 years. |
Sberbank can refinance a mortgage along with five additional loans, but no more. This applies to ruble loans - foreign currency loans are calculated on different terms.
In order for the credit burden to be eased, it is fundamentally important that the borrower should not have late payments. As for other requirements, they are standard. For example, a citizen must be an adult and have sufficient work experience. But since the loan will not be issued without these requirements, we will not focus on this once again.
Special customer requirements
When drawing up a loan agreement, the borrower is subject to special requirements. This is a mandatory procedure, so the bank prevents cases of non-payment of the loan. The borrower must provide documents confirming that monthly payments will not be more than half of his income.
The bank considers not only the borrower’s salary, but also his additional income, as well as the income of all family members, additional borrowers and guarantors.
The borrower himself is subject to the following basic requirements:
- presence of Russian citizenship;
- official employment;
- age restrictions (from 21 to 75 years);
- registration on the territory of the Russian Federation.
The client will be offered life and health insurance. Here you will have to pay the insurers. As a rule, this is done on a voluntary basis, but the bank has every right to insure its own risks and, if necessary, increase the interest rate.
The bank conducts a thorough process of reviewing an application for a loan. Several factors are taken into account. One of the important factors influencing the acceptance of a request is the size of the down payment. The initial payment can be made from the client’s personal savings, maternity or housing capital.
Consultants may suggest increasing the down payment level. Before completing a transaction, it is recommended to clarify the minimum contribution amount in force for the current year. From 2021, the down payment amount is 15% of the value of the property.
Reviews from real borrowers
Sberbank collects a lot of feedback from real borrowers. It should be noted that the bank staff promptly responds to reviews and tries to solve problems that arise.
Among the advantages, borrowers note fast and convenient mortgage processing, intuitive and trustworthy digital services. The downsides are staff errors and human errors. As a rule, similar disadvantages are identified in the work of other banks.
Bank restrictions until full repayment of the loan
The borrower must be aware of any restrictions that the bank imposes when issuing a loan. By signing the contract, the client automatically accepts all conditions
Possible bank requirements:
- Inform the bank of the fact of moving or long-term departure outside the region;
- Notify the bank about changes in income levels;
- Do not repay the loan early;
- Do not exceed the level of monthly payments;
- Do not interfere with any changes in the interest rate and payment schedule.
Some requirements and rules are not documented and are not official. If the client violates this condition, and the bank imposes a fine on him, then he can sue. However, if the client offers to repay the loan early, and the bank terminates the agreement as sanctions, then this will not be resolved through the court.
Due to the fact that the bank issues funds for targeted expenses (purchase of housing), it has the right to control any expenses. The bank can check the documents and the actual intended use of the loan. He also has the right to check the condition of the housing and the fact that officially unregistered persons live there.
Important! If the bank notices violations, the contract will be terminated. In this case, the client is obliged to pay a fine.
Currency risks
Experts do not recommend using foreign currency to obtain a mortgage. It's very risky. Even if the interest rate seems favorable, it is not a fact that the currency will be stable for 30 years.
Main risks:
- as soon as the exchange rate increases, the rate increases;
- the cost of purchased real estate may increase due to a decline in market prices;
- other economic changes that will make the client unable to repay the loan.
Electronic registration service
Classically, real estate registration takes place through the MFC, which accepts documents from the seller, buyer and bank. Based on the results of registration, ownership is transferred to the borrower, and the encumbrance is registered to the bank. After the mortgage is repaid, the encumbrance is also removed through the MFC.
Sberbank decided to simplify the registration procedure by introducing a special electronic service. Clients do not have to visit the MFC - everything can be done through the bank.
Sberbank service offers:
- payment of state duty (2000 rubles);
- issuance of UKEP for all participants in the transaction (signature on a flash drive, analogous to a handwritten signature);
- sending documents to Rosreestr electronically;
- control of registration by the bank.
All actions will be performed by the bank manager, and the finished policy and statement will be sent by email. Legally, this is completely legal and is in no way inferior in strength to the paper version of registration.
Attention! The price of electronic registration is from 8 to 11 thousand rubles. In small towns there is no point in spending money on this service; it is easier to contact the MFC in person.
Commission payments and fines
Sberbank, like most other banks, can make money on each procedure during the registration of a mortgage. You may be required to pay money for submitting a request along with a package of documents, opening a credit account and a card.
All commissions are specified in the contract. They may be charged monthly or annually. It is recommended to clarify the amount of commissions in advance if you have any questions.
The bank has the right to impose sanctions (fines, penalties or an increase in the interest rate) if the terms of the agreement are violated.
Psychology of negotiations
When communicating with the owner, it is advisable to adhere to the following recommendations:
- Don't start bargaining over the phone. Listen carefully to the seller, study the construction site and the package of documents for the living space. Bargain during your second or third visit to the apartment;
- Address the counterparty by name, smile and compliment him. These little things will allow you to win the favor of your interlocutor;
- If you like the apartment, then you shouldn’t show off your feelings. Behave with restraint and pretend that you have many similar offers in stock;
- Don't be afraid to bargain. Many sellers call the price “with reserve”. Inflated home costs are a common pitfall of a mortgage loan;
- Bring a relative to the negotiations. You will have a certain psychological advantage and moral support. Put on a little “play.” The buyer can agree with the seller on everything, but the relative, on the contrary, must doubt everything. Many owners cannot withstand the pressure and reduce the price;
- Come to view the rooms several times. Let the owner know that you are exploring different options;
- Your proposals must be supported by factual data. You need to navigate the prices and know the types of properties sold in the area. During the conversation, you can mention other developers offering similar options;
- If you find an item at a lower price, then you should inform the seller about it. He will surely reduce the price.
Many owners of properties being sold are in dire need of cash. Tell the owner that you are willing to pay a deposit. After such an offer, he may well make a discount on the property being sold.
