Holders of foreign currency mortgages has proposed a new alternative. So VTB24 and Bank of Moscow advised those who took foreign currency loans for housing: to give apartment to the Bank, thereby paying its debts and rent them at the property for a minimal fee.
How will it look? Scheme
The creditor Bank enters into with the borrower an agreement under which the apartment or house is fully transferred under the disposal of the Bank. Then currency mortgage holders has the right to live in the apartment transferred to the Bank, signed it (the Bank – ed.) an additional contract for rental housing. But there are limitations. Rental properties (apartments or houses) should not exceed 2-3 years. During this time, the person entitled to exercise the purchase of an apartment from the Bank-creditor, taking another loan, but this time in a ruble equivalent. If this is not done, the Bank has the right to sell the apartment to a third party.
It is worth noting that such proposals are only on those borrowers whose debts exceeded the value of the collateral housing. The lending Bank brings it on himself, while the cost of housing may exceed the real price at which the Bank can sell the property, said the head of Department of mortgage lending of Bank of Moscow Georgy Ter-Aristakesyan. This scheme allows sometimes to repay the entire currency of the loan, preventing the sale. The VTB24 management agreed to cancel the debt that exceeds the cost of housing in the property market, but without exceeding 7 million.
Suppose apartment the borrower goes to the Bank balance, but the client continues to live in it, but not on the rights of the owner. And now former the borrower signs an agreement on the rent with the creditor Bank. The cost of renting symbolic – 1 thousand rubles. To rent an apartment, the borrower has the right to 3 years. That’s what the Bank of Moscow.
VTB24 offers an alternative solution in the form of signing agreements with them on housing, but not to 3 years, and up to two. The rental price is the same as 1 thousand Russian rubles.
In addition, the agreement stated that the rent, the Bank is not entitled to sell property or to lease it to third parties. A former owner has the right to redeem it from the Bank.
The Central Bank plans to decide debtors on foreign currency mortgages, negotiating with each potential borrower individually for each troubled foreign currency mortgage holders. Also the CBR will test the effectiveness of the software support foreign currency borrowers, which in recent times has sold the seller.
