Mortgage refinancing, Gazprombank: reviews

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

Mortgage has become one of the types of loans with which you can buy your own home. Today, almost all financial institutions offer mortgages on the most favorable terms, and such an operation as mortgage refinancing has also become common. Gazprombank, among others, offers optimal conditions for registration and simplified requirements for borrowers.

Basic concepts

Before considering mortgage refinancing at Gazprombank, let's analyze the basic concepts.

Mortgage is considered to be a form of pledge, where the debtor uses the mortgaged property, and in case of default on obligations to the creditor, this property can be sold to repay the debt.

Refinancing is the full or partial closing of a loan by obtaining a new loan. This program can be applied in the event of a change in market conditions, as well as a decrease in the debtor's solvency.

Optimaloption is to refinance the mortgage in "Gazprombank". Most of the reviews about him are only positive, many borrowers are satisfied with the terms of the loans and the bank's service.

Conditions

Gazprombank is refinancing mortgages on the following terms:

• Mortgages are available for 30 years or more.
• The property itself acts as collateral.
• A loan under the program is issued in the amount of 600 thousand rubles. up to RUB 45 million
• Refinancing interest rate is 12-13%.
• Loan rate can go up to 1% if the borrower has personal insurance.
• Application for mortgage refinancing is considered within 7-10 days.
• Possible early repayment of the mortgage without the imposition of fines and pen alties.
• Monthly payments may be made in excess of the minimum required payment.
• Refinancing can be issued not only in ruble terms, but also in other currencies.

Insurance

Like any other long-term loans, Gazprombank undertakes to insure mortgage refinancing. Separate compulsory and voluntary insurance.

The following risks are included in compulsory insurance:

1. Causing damage to or loss of real property.
2. Termination of ownership of collateral for a period of at least a year (but if the agreed property was with the borrower for more than three years, this type of insurance is notapplies).

Voluntary insurance includes the following:

1. Death of a borrower or incapacitation.
2. Accident.
3. Property insurance.

Design

Despite the instability in the economic sphere, the refinancing of the Gazprombank mortgage works without global changes.

The refinancing process has the following steps:

• Writing an application at any convenient office of Gazprombank.
• Collecting and providing documents.
• Obtaining permission from the bank where the mortgage was originally issued to refinance.
• Drawing up and signing the contract.
• Transfer of provided funds to the borrower's current account.
• Repaying a loan at the bank where the mortgage was issued.
• Releasing the property from the collateral burden.
• Conclusion of a pledge agreement with Gazprombank.

There is an option that you will need to provide guarantors or other property to Gazprombank. Refinancing of mortgages of other banks to individuals in this case is provided on more favorable terms. In other words, the borrower is more likely to receive funds to pay off the mortgage in another bank.

Documents

"Gazprombank", however, like other banks, requires a standard set of documents. First of all, you need to write an application forrefinance, consent to the processing of data and to the request for a credit history.

The application must contain the following data:

1. Full details of the borrower.
2. Address and phone numbers of the applicant.
3. Loan amount required to pay off a mortgage.
4. Credit period.
5. Data on the collateral.

Along with the application are presented:

• identity document;
• 2-NDFL certificate confirming the solvency of the borrower;
• copy of work book;
• property documents: proof of ownership, basis of ownership;
• loan agreement, which is concluded with the original lender;
• certificate of credit debt.

Additional documents include:

• obtaining the written consent of the first lender to refinance the mortgage;
• provision of additional collateral or guarantor;
• borrower can submit documents confirming additional income; for example, if this is a lease of premises, then you need to submit a lease agreement.

In addition to the above, the bank may request the following documents:

• individual tax number;
• SNILS;
• documents of education;
• documents confirming marital status;
• child's birth certificate or child's passport if he is already 14years;
• death certificates of parents, children, spouse (if any);
• documents that can confirm the presence of movable or immovable property.

Requirements for the borrower

"Gazprombank" does not provide refinancing of mortgages of other banks to everyone. For borrowers who want to solve their credit problems, the bank makes a number of requirements. This includes:

• Russian citizenship;
• permanent registration in the lending region;
• positive credit history, no delinquencies at the time of refinancing;
• Gazprombank mortgage refinancing provides to persons not younger than 20 years old and not older than 55 years old for women and 60 years old for men;
• Having a steady income and staying at your last job for at least six months.

Income of a person must ensure that he is able to pay monthly payments on time. In case of delays or improper performance of obligations to the bank, fines and pen alties may be imposed on the borrower.

If the borrower provides additional collateral in the form of property or another guarantor, the financial institution can increase the age by five years (for women it will be 60 years, for men - 65 respectively).

The strictness of the requirements is justified by the fact that in this way the bank ensures its financial stability, and there are very few outstanding loans.

Mortgage requirement

Gazprombank refinances the mortgage if it meets the requirements:

• taken in rubles;
• debt type – mortgage only;
• the balance of the debt should not exceed 85% of the market value of the property;
• balance for a loan term of at least 36 months;
• no current delays.

Pros and cons

Let's consider the main pros and cons of the program offered by Gazprombank. Mortgage refinancing has the following benefits:

• possibility of registration in any monetary equivalent;
• long loan term;
• no additional fees from the bank, including for maintaining an account;
• no hidden fees;
• the presence of minimum payments without maximum thresholds;
• no pen alties for making a larger monthly payment;
• possibility to pay off the mortgage early without imposing pen alties;
• you can get a mortgage without collateral by providing the bank with several guarantors.

The negative points include the following features:

• A borrower may be denied refinancing if the mortgage is repaid by less than 20%.
• The presence of requirements for the housing itself: it must be an apartment exclusively in a new building. Unfortunately, the bank does not consider apartmentsin the secondary market, rooms in communal apartments, "Khrushchev", etc.
• Having insurance affects mortgage interest rates.
• An impressive list of documents that can take up to six months to verify.

Reviews

What do bank customers say about such a service as mortgage refinancing? Gazprombank, of course, receives a wide variety of reviews about this service. Many people like that the requirements for borrowers are not too strict. However, dissatisfaction is caused by the slow consideration of applications. Employees of Gazprombank are provided with additional benefits for refinancing.

On the other hand, the criticism is caused by the incompleteness of the information provided to the client initially. That is, after submitting documents, it is required to collect certificates that were not mentioned earlier. This is not a very pleasant moment, which upsets many Gazprombank customers. However, an attractive interest rate covers all these shortcomings, so the bank's client flow is stable.