The role of the mortgage bank in divorce
A change in the marital status of a couple in the presence of a mortgage encumbrance on the home requires mandatory notification to the credit bank, because divorce is recognized as a violation of the loan agreement. Before a divorce, you must first resolve issues with the bank, and only then go to court and the registry office. If it was not possible to notify the creditor bank before the divorce process, you should contact the banking organization after the divorce, but as quickly as possible.
Divorcing people must agree on the division of real estate with the creditor bank, since they are usually the borrower and co-borrower of the loan apartment. Exception: options for property division are provided at the stage of obtaining a mortgage through a special agreement or marriage contract.
Being in conflict-emotional relationships after divorce, recent spouses often ignore the need to make mortgage payments. This gives the bank the right, if there is a three-month delay, to initiate legal proceedings and annul the divorced borrowers’ title to the mortgaged apartment and sell it at auction to compensate for the amounts lent. Note that this is the worst situation for a mortgage borrower.
Alimony and benefits when applying for a loan
Divorced spouses who have children together are not considered by the state as separate representatives of a social group. Whether a divorced woman will be given a mortgage if she has children in her care depends not only on her salary, but also on the amount of payments to provide for the children from her ex-spouse. Bank managers will definitely ask about this source of funds. If a spouse evades payments or hides his income, it is necessary to file a corresponding application with the court and obtain alimony.
Extrajudicial division of a mortgaged apartment
There are four options for dividing credit housing available to spouses if they are ready to resolve the situation without going to court.
Spouses agreement
, approving the procedure for repaying the loan in case of divorce, prepared taking into account the rights of their children. This document must be agreed upon with the mortgage bank before family relationships enter the stage of divorce. When a marriage contract is drawn up, the division of the apartment will occur in the manner reflected in this document.
The signing of the marriage contract by the spouses must be completed before the mortgage loan is issued. Due to the significant simplification of the procedure for property division during divorce, most banks insist on concluding a prenuptial agreement with detailed issues of property division.
It should be noted that the presence of a marriage contract for a couple who has not carried out state registration of marriage does not give it legal force. If young people purchased an apartment with a mortgage and signed a marriage contract, but their marriage did not take place, the couple must sign a separate agreement defining the property obligations of the parties.
Relinquishment of rights to real estate by a spouse
, allowing the second to receive full ownership of the apartment along with the obligation to repay the loan. Notarization of the refusal and its approval by the creditor bank is required. Essentially, this is terminating the previous contract and signing a new one - with a spouse whose income level allows you to pay off the mortgage.
Typically, the mortgage bank will allow a co-borrower to withdraw. The spouse who has renounced property rights to the apartment has the right to claim the amounts of money he contributed under the mortgage during the marriage relationship.
Sale of a mortgaged apartment by spouses
, paying off bank debt and dividing the remaining funds among family members. Coordination of the transaction with the bank is mandatory. Often, mortgage banks require the payment of an additional commission (the amount of such a fine is specified in the mortgage agreement) when selling mortgaged housing, since such a transaction is unprofitable for the credit institution - interest on borrowed funds is lost.
Sale of an apartment by a bank
offered by a mortgage lender for spouses who have the same high and stable income. The credit institution offers to divide the funds from the sale of the apartment between the spouses and use them to make a down payment on the purchase of a separate mortgaged home for each party to the divorce. This is beneficial to the bank, because In exchange for one mortgage borrower, the organization acquires two at once.
How to get approved
A mortgage for a divorced woman with three children is quite affordable if she earns enough. But even if you have a small income, you can count on approval. How to increase your chances of getting a home loan:
- Contact the bank where you have your salary card. Salaries almost always receive a positive decision.
- Show the bank that you can pay off your mortgage every month. To do this, collect certificates (forms and) about all regular cash receipts (salaries, part-time jobs, alimony, social benefits, etc.).
- Take advantage of the preferential conditions for obtaining a mortgage provided by the state. If you have the right to a reduced percentage, maternity capital and other subsidies, be sure to submit documents to receive them.
- Find a solvent co-borrower. Usually, for a mortgage to a divorced woman with two children, they become the parents of the borrower. By attracting a new participant in the transaction, you can count on receiving a larger loan.
Important to know: Is the credit history of a mortgage co-borrower important?
Soberly assess the requested mortgage amount. You should not try to get a large loan if the monthly payment is unaffordable. Banks do not write off debts of single mothers, disabled people, or pensioners. If you put your signature on the loan agreement, the debt with the interest due will have to be repaid. It is better to buy a slightly less expensive home, but be completely confident in the timely repayment of the mortgage.
Judicial division of a mortgaged apartment
Article 34 of the Family Code of the Russian Federation defines property acquired jointly during marriage as joint property, subject to equal division between spouses upon divorce. In this case, debts are also subject to equal division. But the court has the right to take into account circumstances that influence the distribution of shares in real estate - for example, if one spouse is confirmed to have made a larger contribution when purchasing an apartment, the court may award this spouse a larger share in the housing.
The courts also take into account the coincidence of the registered ownership right (title ownership) and the sole status of the mortgage borrower of one of the spouses - in this case, the apartment will remain the full property of the title owner and the mortgage borrower.
If one of the parties to the divorce can prove that any part of the mortgage was paid from personal funds (inheritance, gift), then during the judicial division of property, the share in the apartment for this spouse will be increased in proportion to the contribution made.
conclusions
How to get a mortgage after a divorce if you have children in your care? Collect the necessary documents, obtain alimony payments from your ex-spouse and provide a certificate about them, enlist the support of parents or friends with a good income.
You will not be denied a mortgage on real estate if you have worked for more than 6 months at your last job, your income is enough to cover the living wage for all family members plus 40% of the loan rate. Making a down payment increases the likelihood of receiving a loan, which on average is 10-15% of the total cost of housing.
If you prove the need to expand your living space, your baby was born after the beginning of 2021 and you are under 35 years old, the state will help you take out a mortgage at only 5-6%.
If your dissolution of marriage was through the court, then it is better to wait a month after the release of its decision. Since the verdict comes into force during this time, it is worth postponing the purchase of a new apartment until the end of this period. This is necessary to avoid new claims from the ex-spouse.
Divorce by court, mortgaged apartment and minor children
It is most likely that the court will not carry out an equal division of shares upon the dissolution of a family’s marriage with minors. The share of the spouse with whom minors or disabled children remain will be larger. Also, if one party to the divorce has other housing and the children remain with the second party, who does not have any other residential property, the court will determine the majority of shares for the second party.
If the object of division is a small-sized mortgaged apartment, the division of which will not provide the child with the normatively established area, most likely the housing will be awarded in full to the spouse with whom the minor remains. However, the second spouse must be paid the value of the share in the real estate, as the court decides. Given the need to make mortgage payments, paying down the share may not be feasible in this situation.
Maternal capital
: when they pay a mortgage loan at any stage (down payment, monthly payments), the registration of an apartment in the event of a divorce is carried out equally among family members. For example, if there are two children in a family, four shares in the mortgaged housing are formed. Accordingly, in the event of a divorce, the custodial parent has the right to claim ¾ shares in residential real estate until the children reach adulthood.
How to increase your chances of getting a mortgage after divorce
To take out a mortgage during a divorce, you need to carefully study all the requirements and list of documents, find out information about interest rates and conditions for comparison from several banking institutions. Caution is necessary to avoid being rejected by the lender, as this will leave a stain on your credit history and make it difficult to apply for a new loan in the future. There are a few tricks that can improve your odds against the bank:
- a large down payment - if there are no savings, you can sell some of your property for it, for example, a plot, a dacha, a garage. The first amount gives the bank a guarantee of your solvency, which is why the first payment is so important;
- the presence of property - any assets, monetary or property, give the bank confidence that your debt will have something to compensate for in the event of unforeseen situations leading to insolvency;
- secured guarantors are also a guarantee of profit for the bank;
- excellent credit history - if you have paid all previous loans on time and have already closed them, this will serve as confirmation of your reliability.
What does the law say?
In the Russian Federation, the law states that there are only two reasons according to which a financial company can approve such transactions. And this:
- re-issuance of a loan to another person;
- refinancing, thanks to which a bank client is refinanced with another financial company.
The main law regulating this issue is the Federal Law “On Mortgage”, Article 77.
If the home is re-registered during the divorce process, then the Family Code and articles 33 to 39, as well as articles 45 and 60 are also taken into account. The interests of not only the husband and wife, but also minor children are taken
.
Nuances of re-registration
As mentioned earlier, such large banks as Sberbank, VTB Bank and Rosselkhozban
Although not willingly, they still agree to reissue the loan, since they have extensive experience in such transactions. Let's look at the nuances of such a re-registration.
In Sberbank
Sberbank, which has extensive experience in this field, has developed its own refinancing program, but at the same time it is not very loyal to those clients who want to reissue the loan to another person.
Currently, the refinancing rate is 9.5%, but even if the bank refuses your application, nothing prevents you from borrowing money from another bank and repaying the loan from Sberbank. The refinancing offer is listed on the page www.sberbank.ru.
At VTB
Just like Sberbank, VTB Bank is also not very willing to re-register, because for the bank this is associated with certain risks. Still, you can try to apply for re-registration, especially if the new client is able to confirm his solvency.
Like Sberbank, VTB Bank offers a refinancing program under the following conditions:
- The fixed rate for this program is 8.8%.
- The loan is issued exclusively in rubles.
- It is important that the down payment is no more than 80% of the amount borrowed.
- The maximum loan term for refinancing is 30 years.
- In this way, you can borrow up to thirty million from the bank.
- There are no fees for applying for a loan from the bank.
Refinancing details are listed on the page www.vtb.ru.
In other banks
What other banks offer refinancing and on what terms?
- Gazprombank, like Avtobank
, offers refinancing from 8.8% for up to 30 years www.gazprombank.ru. - Tinkoff
Bank, in turn, offers an interest rate of 8.25% for a period of up to 25 years and for an amount of three hundred thousand rubles. - Rosselkhozbank
is also ready to offer its services in an amount of 100 thousand rubles for a period of up to 30 years and with an interest rate of 9.05%. www.rshb.ru.
