Mortgage in St. Petersburg: banks, terms and conditions

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Today, not every person living in the cultural capital can afford to buy their own housing. Of course, earning such a large amount of money is almost impossible for an ordinary office worker or builder. That is why mortgages in St. Petersburg are in great demand among citizens.

By and large, this program is a loan that is given to people to buy real estate. Although the debt repayment period can be more than 20 years, the interest rate on the debt is usually almost half the cost of the apartment. In addition, many organizations providing mortgage services in St. Petersburg require the payment of a down payment. Such amounts are also very difficult to collect in a short time. That is why before taking a loan, it is recommended not only to study the real estate market, but also the services of banks.

Types of mortgage lending

Today, there are several options for such debt relations:

• Government subsidies. This type of lending to citizens appeared relatively recently. This type of loan can be considered a profitable mortgagein St. Petersburg, since the interest rate in this case will be only 11.25% per annum. However, to obtain such a loan, you will have to take out comprehensive mortgage insurance for the consumers themselves and their property. Also, according to subsidies, it is allowed to purchase apartments exclusively in the primary market, taking into account the cost of housing from 3 to 8 million rubles. The term for which the loan is issued is usually 25 years.
• Mortgage in the primary market. In this case, it is allowed to purchase residential space worth from 1 to 12 million rubles. If a resident of St. Petersburg decides to purchase real estate in the primary market, then several programs will be available for him. "New building according to the passport" - the interest rate per annum will be 13%, while you will need to pay at least 30% of the cost of the apartment, the payment period is up to 25 years. "New building" - it is necessary to prepare an extended list of securities and make a PV equal to 15%.
• Mortgage in the secondary market. In this case, several programs will also operate. "Apartment according to the passport" - PV of at least 30% of the cost of housing, the percentage of the annual rate is 13.25%. "Dom" - in this case, a resident of St. Petersburg can purchase a country house, the cost of which will be from 500 thousand to 12 million rubles. The down payment will be 25%.

However, it should be borne in mind that a mortgage in a bank in St. Petersburg can vary significantly depending on the organization chosen. Not all credit companies are associated with loans of this type. In addition, there is a chance to run into scammers. Therefore, it is better to apply for a large loan in a trusted and reliable organization.

Mortgage in St. Petersburg at Sberbank

To get a loan to buy housing, most people turn to this particular credit organization. The fact is that Sberbank is the largest in the territory of the Russian Federation, pensions and other subsidies from the state are accrued through it. Accordingly, taking a loan here, a person will be sure that the financial company will not go bankrupt.

So, if we talk about the conditions of a mortgage in St. Petersburg in Sberbank, then it is worth voicing a few key points:

• If you apply for a loan for shares in new buildings, the minimum percentage per annum will be only 10.4%. In this case, the loan amount will be at least 300 thousand rubles. The PV to be deposited is 20%.
• When applying for a loan for the purchase of secondary housing, the percentage of annual payments will be slightly higher - 10.75%.
• If a citizen wants to buy a country house, the rate will be 11.75%.

In addition to this organization, you can take a mortgage in St. Petersburg at VTB 24 Bank. It also has a stable work and a long history of existence.

Mortgage at VTB 24

This bank offers several mortgage lending options to consumers:

• Mortgage in St. Petersburg for a new building. In this case, the rate will be 10.9% per annum, and the PV will be 10%.
• An apartment in a ready-made house, the cost of which is no more than 60 million rubles. To those whowants to acquire such a living space, it will be necessary to make at least 10% as a down payment and pay about 11.25% annually.

Mortgage at Otkritie Bank

In this case, for mortgage lending, you must pay at least 20% of the cost of the apartment. The annual rate will be 11.25%. If we talk about the maximum loan term, then it will be no more than 30 years.

In addition to the mortgage itself in St. Petersburg, Otkritie Bank offers citizens loans for major repairs of apartments.

Mortgage in SKB

This bank is also a fairly reliable institution to apply for mortgage loans.

SKB offers citizens the possibility of early repayment and reduction of payment terms. In this case, the interest rate on the loan will be 14% per annum.

However, many are interested in the possibility of a mortgage in St. Petersburg without a down payment. If we are talking about a young family, then there really is such an opportunity. Since today, spouses with small children most often buy housing, the state has developed a special program for them.

Mortgage in St. Petersburg: a young family

This project is suitable for spouses whose age does not exceed 35 years. In this case, the use of maternity capital as an initial and several subsequent contributions is implied. Further payments are made in the standard mode. Interest rateis 12.5% per annum. Roughly speaking, having received an MK, you can get a mortgage without a down payment in St. Petersburg.

In addition, young families without children sometimes get special subsidies from the state. Under these preferential conditions, spouses can apply to one of the accredited bank branches in order to receive financial assistance, which can be used in different ways:

• set off the amount in favor of the PV on the mortgage;
• repay part of the loan or its full amount;
• deposit these funds as payment for housing.

Among other things, mortgage lending with a lower interest rate (the amount of which will be much less than the market rate) becomes available to program participants.

Funding for this program can come from both federal and local budgets. In this case, a completely interest-free loan can be issued, provided that the down payment will be 30% of the cost of the apartment.

Lending to military personnel

In 2005, the government launched the Military Mortgage Program in St. Petersburg and other cities. According to the innovation, the state provides people serving in the army with living space not in kind, but in cash. This means that a serviceman can receive a subsidy of at least 1 million rubles and spend it on initial mortgage payments or purchase inexpensive housing for this amount.

In addition, "Military Mortgage" in St. Petersburg implies the allocation of funds in the amount of 2.5 million rubles to repay loans. These cases are considered on a case-by-case basis. The average amount of subsidies issued by the state is about 3-4 million rubles. If a serviceman wishes to purchase housing at a higher cost, then he pays the rest himself.

However, it is worth considering the fact that this subsidy contains a number of amendments and exceptions. Accordingly, not every person serving in the army can receive significant financial assistance.

In closing

Almost every person who has a permanent job can get a mortgage. It all depends on the conditions of a particular credit institution. Of course, it is best to apply for a loan in one of the state banks. Only in this way guarantees will be provided to the citizen. Before buying an apartment on a mortgage, it is recommended to carefully study the real estate market and, if possible, consult a lawyer. If you approach the issue wisely, you can significantly reduce the cost of buying an apartment. In addition, you should carefully study the list of subsidies offered by the state.