Co-borrower for a mortgage in Sberbank - who is it, requirements, documents and sample application form

Co-borrower for a mortgage at Sberbank - requirements, documents and sample application form

Nastya Pisarenko

A co-borrower on a mortgage with Sberbank can significantly influence the amount issued by a commercial organization, the duration of the loan agreement, as well as the interest rate. His responsibilities include financial support for the solvency of the main client if the latter cannot cope with mandatory payments. When drawing up an agreement, it is necessary to take into account the profit received by all clients, since this factor may become decisive in the approval of applications.

Who is a co-borrower on a mortgage at Sberbank

A co-borrower, according to current legislation, is a person who is capable of answering under the agreement on an equal basis with the main borrower. It can become a guarantee for the latter’s obligations. When applying for a mortgage loan, your spouse is automatically included in the number of eligible persons, regardless of age and monthly income.

Do you need a co-borrower for a mortgage?

Many people ask whether an additional borrower is required when applying for a mortgage loan. Having a sufficient monthly income exempts the consumer from the obligation to attract additional persons. Today, most loans for the purchase of an apartment can also be issued without guarantors. If the earnings indicated in the application form are not enough, the client has the right to include third parties in the contract.

His rights and obligations

All clients assume great responsibility under the contract. But a co-borrower on a mortgage at Sberbank is a person who has not only responsibilities, but also rights. By agreement, he can claim:

share of the acquired property (if he invests his own funds in the purchase);
possible refusal of the status in the list of borrowers.

If financial difficulties arise for the main client, third parties undertake to continue making loan payments. Responsibility falls on them equally. If the guarantor also refuses to fulfill the requirements of the contract, information about this is transferred to the general credit history database, which will subsequently affect its rating among other clients of financial institutions.

If the guarantor officially acts as a person making payments on an equal basis with other participants in the transaction, the volume of his future payments can be calculated in advance using an online calculator. Participants also have the right to agree on the amount of payments independently.

Note: A citizen of the Russian Federation who has sufficient grounds for obtaining a loan can act as a guarantor for several mortgage loans. But in this case, he may have difficulties in obtaining his own loan.

Which banks offer loan refinancing?

Many Russian banks offer refinancing programs. In this case, you can get approval for both a loan issued by the same bank and a loan taken from another financial institution.

The most attractive refinancing conditions in:

Sberbank;
Gazprombank;
VTB;
Rosselkhozbank.

Due to the fact that banks offer clients the most profitable refinancing programs, their flow of clients increases.

List of documents for a co-borrower on a mortgage at Sberbank

When signing the contract, the guarantor is also required to provide his own package of documents. It includes:

Application form. A sample form is provided by the bank.
Passport.
Registration document. Provided in your passport or temporary registration certificate.
Documents confirming the presence of a basic income.

The terms of the loan may change in 2021 depending on the introduction of new bank offers to the financial services market. The documentation package also depends on the selected loan program.

Distinctive features of refinancing in different banks

Sberbank has been the leader in refinancing in the Russian Federation for a long time. About 10% of the total number of loans issued comes from this program. The main criteria by which Sberbank evaluates borrowers are solvency and absence of arrears. Clients are offered to refinance their mortgage, as well as other types of loans, or combine several loans into one.

Rosselkhozbank also offers to combine several loans in order to simplify the process of repayment for clients. This bank pays attention to the absence of arrears on the borrower’s existing loan. But if the delay was the only one and lasted less than 30 days, the bank can refinance. Another condition for approval is the absence of restructuring.

To apply for refinancing at Gazprombank, the borrower must meet the following requirements:

He must have Russian citizenship with permanent or temporary registration.
Positive credit rating.
Age from 20 to 70 years.
The length of service at the last place of work was at least 3 months, the total work experience was 1 year.

VTB refinances mortgages only in Russian rubles. An existing loan can be refinanced only six months from the date of issue. To obtain bank approval, a potential borrower must be a bona fide client who has not been in default on an existing loan.

Sample application form for co-borrower

The application form must contain the following points:

FULL NAME;
passport details (number, place of issue);
Date of Birth;
level and direction of education;
contacts and communication information;
direction of the client's activity;
the amount of monthly earnings (official and additional (if any));
seniority;
availability of property (vehicle, residential and non-residential real estate);
account number to which income is accrued (an extract may be required as an attachment);
age.

Sberbank co-borrower questionnaire for a mortgage (form to fill out), as a rule, is provided by a commercial organization. The application process takes place when the potential guarantor contacts the bank in person.

Rules for attracting second parties

Involving up to 3 persons on a loan will not provide such opportunities in terms of loan size, repayment period and interest rate. That is why bank employees recommend enlisting the support of third parties for applicants whose solvency is low. According to the rules of the institution, the client has the right to attract up to 3 people for this purpose. How many days does Sberbank consider an application for a mortgage 2018? Read more here.

Buying a home on credit should be treated responsibly

By default, this is the spouse. It can also be any person. It should be taken into account that he has the right to own part of the property, so the choice should be approached responsibly. He must submit a package of documents almost identical to the borrower’s package. Therefore, the questionnaire of the person who will be jointly and severally responsible for repaying the loan is similar to the client’s.

Rules for completing the questionnaire

The following items must be completed in the document:

Last name, full first name and patronymic, incl. previous ones if the data was changed at some point.
Passport details.
Address, contacts (all phone numbers).
Education.
Marital status, personal data of relatives. Information about spouses and children is required.
Employment: name of enterprise, field of activity, position, length of service.
Amount of income and expenses, incl. unconfirmed.
Availability of property: apartment, house (address, area, year of purchase), vehicle (make, registration number) with an indication of their value.
Mark on receipt of wages at the bank: card number.

Conditions of mortgage lending in Sberbank An application for a housing loan in Sberbank (a sample of completion by a co-borrower can be viewed further on the website) requires signatures in certain blocks. It is imperative to put o.

Download the co-borrower application form for a mortgage

Download file:
Co-borrower application form at Sberbank

Is it possible to change the co-borrower?

Current legislation of the Russian Federation does not impose restrictions on replacement. Therefore, theoretically, such manipulations are possible. But is it possible to change the guarantor or title borrower in practice? In this case, much depends on the situation in which all parties to the agreement find themselves. In order to qualify for adjustments, you must personally contact the lender and request advice regarding the current issue. A replacement is always appropriate in the event of the death of the title borrower or the occurrence of physical limitations or loss of legal capacity. Other situations are considered by the financial institution on an individual basis.

What is refinancing

Refinancing is taking out a new loan to close an existing one. In this case, the borrower can change the terms to more favorable ones. The client can close one or several loans at the same time with a new loan. Most often they resort to refinancing when taking mortgage lending, since with consumer loans the benefits are not so tangible.

If you take out several loans from different banks at the same time, they can also be combined into one and refinanced. This solution helps to avoid delays or missing payments due to carelessness, as well as save on interest. After refinancing, the borrower has one creditor bank, where he will have to deposit the total amount, and not, as before, to several banks, and one payment date.

The benefit of refinancing for third-party banks is that they attract new customers from whom they can later generate income. For example, borrowers will be offered related paid services or premium rates. Refinancing in the same bank where the original loan was issued eliminates the outflow of clients to other credit institutions.

How to get rid of co-borrowers on a mortgage at Sberbank

In order to withdraw as a co-borrower, you must directly contact the specialists of the financial institution, since withdrawal requests are considered individually. The organization, in turn, reserves the right to approve or reject the application. The reason to reject the withdrawal of a co-borrower from the mortgage may be the loss of solvency of the title client or the occurrence of arrears on the loan.

Note: The guarantor's renunciation of his rights and shares in the purchased real estate does not relieve him of responsibility and does not guarantee withdrawal from the contract. In order for the bank to consider the application, you must provide an application requesting a withdrawal in writing.

Comparison of refinancing conditions

Comparison of refinancing conditions for the four largest banks in the Russian Federation:

Conditions	Gazprombank	Sberbank	VTB	Rosselkhozbank
Interest rate range	8,3%-11,3%	7,9%-10,4%	7,5%-17,2%	8%-13%
Smallest loan amount	100 thousand rubles	300 thousand rubles	50 thousand rubles	100 thousand rubles
Largest loan amount	45 million rubles	7 million rubles	30 million rubles	20 million rubles

Mortgage refinancing in the above banks is possible for a period of up to 30 years. If you sign an agreement for a short period, the amount of the monthly payment may be too large, and the borrower will not be able to pay it. But the client can refinance for a maximum term and minimum monthly payment, and if the opportunity arises, close the loan faster.

You can apply for mortgage refinancing on the official websites of banks. Waiting for a preliminary decision takes no more than 10 minutes.

The maximum loan amount for housing in the primary and secondary markets can reach up to: