Interest rate on the system of building savings. With the help of the Belarusbank construction savings system, it is possible to solve the housing problem
Oh and a long review to come! I hope it will be useful. Sit back, because I can not stop)
To get your own housing is a dream of 70% of the population, especially when you wander around rented apartments (and even not one). For the first time I heard about the “Building Savings System” (CCC) about three years ago, when the consultant of “Belarusbank” (and for me she was a friend of Aunt Katya, worked nearby) shared with me how she built her daughter’s apartment. I read on the site, talked again with her and refused this option, because renting an apartment and saving up at the same time seemed like a crazy idea.
The system of construction savings is a solution to your housing problem, provided that you accumulate part of your own savings and receive a loan for the construction of housing on favorable terms.
And then ... My friend and her husband bought the apartment, and two years ago my grandmother gave the apartment to my friend (the principal was from her, the girlfriend also made her investments) and my mother took care to provide me with an apartment: "All the girls have apartments but my daughter doesn’t! " Honestly, it was her “fire” that set fire to my interest and activity. It was December 2016. I actively studied loans at all banks, sadly assessed my chances, studied again and was upset again. And at the same time I studied prices. And suddenly ... my mother talked with her brother and asked him to help - give money on the condition that I would not apply for a parental apartment. The amount of cash was $ 4000, they began to think what to do. And then I again saw information about CCC, I first read the negative reviews on the airek, and then I came across a big discussion on one of the sites where users shared knowledge and chewed on each other features of this contribution (and initially it is necessary to make a contribution). There were many pages, I read at nights after work. And dreamed. At the same time I went to the bank and consulted, asked questions and clarified incomprehensible moments to me. I went to the bank 2 times before the stage of concluding a deposit agreement, the branches and branches were different, as were the consultants). Of course, it was easier for me, because I had an amount for a contribution of 25% and the possibility of lending after 19 months.
The system of building savings consists of two stages:
- accumulation of own savings by opening a “Housing and Savings” contribution;
- crediting period.
Those. You can conclude an agreement for a period of 36 months, pay in the first month the amount - 25% of the cost of the proposed housing, and after 19 months already apply for a loan. And all 36 months you can replenish your contribution in parts and eventually accumulate the very 25%. By the way, there are three accumulative periods to choose from: 3 years, 5 or 7 years. You can get a loan within one year from the expiration of the contract period of the savings phase.
I soberly assessed the risks, I understood how fragile the course is in our country and that we can lose money due to inflation. But I said that my mother and I burned with an apartment? What little-one little girls we considered, in what areas they were! The thought warmed: tiny, far away, but his own! Especially since I rented an apartment near the devil on pies. Inexpensive odnushki at the beginning of 2017 cost about $ 16-17 thousand, they decided to borrow another $ 1000 and make a contribution. In the end, who does not take risks ... The first step was to exchange currency for my squirrels, I changed money with my parents in the city (it wasn’t so scary with my brother), thanks to the reviews, I already understood that “bags of money” from a negative review - this is not an exaggeration. The $ rate at that time was about 1.93 rubles at the time of delivery. I exchanged the entire amount in bills of 5 p. - 2,000 notes !!! Rounded up to 10 000 bel rub. I can responsibly declare: this is a big backpack of money. I had already decided in advance what to do with this amount, because I had to open a deposit in Gomel, and to go with this backpack was scary and hard: I opened an account and deposited money there. No problem transferred the amount to the deposit account 02/08/2017 and away we go ...
She joined the housing group, where they discussed new buildings, housing prices and methods of purchase. And tirelessly I looked at the apartments in the advertisements ... and came to the conclusion that you can sway at the kopeck piece, albeit inferior, small ... I fell in love with the apartments and “parted” with them, cried from tomorrow's weakness and fear. And she followed the changes in the legislation, in the CCC, studied the legal acts in detail. Needless to say, the discussion of home purchase has become a favorite topic? Saved a forum where you could complain and feel support, as well as mom. 19 months have not passed - flew by. I was ready for this event, as I periodically came and took extracts about changes in the deposit amount, and also clarified issues along the way. Unfortunately, I can tell you a couple of stories about the incompetence of employees, but I was lucky to still get professional advice both during the funded phase and on the credit one. The term for a possible loan was 08.09.2018, but we began to look at apartments from August. And jumped the course. It would seem that from 2 rubles it rose to 2.05, then 2.20, but for large sums it was a disaster ... I did not like the apartments: either the price is not the same, then the size is like a doll's house, then the viper is real. Nevertheless, I visited the mortgage department for a consultation. The first time I was deployed with the wording “the contribution will end, come”, so I was wary. And I was lucky: Irina Alekseevna Baidun became my consultant and escort. She told everything in detail, explained. And I found out that the line for applying for a loan is already 2 weeks (!) And signed up “just in case”. And she continued to search. It could be a separate big review for your favorite and several months of nervous tick.
Important! All 19 (and I ended up with 20 months) my money worked on the deposit: they accrued% on the amount of the refinancing rate. In total, at the time of the transfer of money, my 10,000 turned into 12,179 or from $ 5,181 to $ 5,612 (at the time of the transaction, the rate "jumped" to 2.17 rubles). In the end, I was not bad in the black even.
Refinancing rate - the rate of the National Bank of the Republic of Belarus, which is the basic instrument for regulating the level of interest rates on money market and serving as the basis for setting interest rates on operations to provide liquidity to banks.
I made out the purchase of an apartment with the help of an agency, I will leave the stages with the preparation of documents out of review (and I basically came to sign-pick up the documents). In the department where I made a contribution, I took an extract where the amount of savings was indicated and possible loan, and also found out the coefficient of СМР. By the way, it can work both in + and in - credit. That is why the borrower can both use it and not. My SMR was 1.21, which gave me about 5,000 bel rub + to the loan!
The system of indices (coefficients) of conversion (change) of the estimated cost of construction is the most important tool for pricing in construction in modern conditions. Indexes are used to determine the cost of construction at current (or forecast) prices and for settlements for completed construction and installation work between customers and contractors.
The main purpose of the indices (coefficients) is to take into account the factor of the rise in the cost of construction in relation to the base level.
I ordered an income statement in advance, as they passed it to me from another city. At the bank I was advised by 3 guarantors, but there were only 2. And again I was lucky: the wife of one of the guarantors agreed. The certificates were also ordered by my guarantors, while receiving the certificates I went to the bank to check them. I was very afraid before the day of filing documents (preliminary contract, certificates of salary, copies of passports) of some obstacles, but everything went well, she announced 2 guarantors (it was difficult to come to one of them later), left the 3rd “in reserve”. I filed the documents on Fri, and on Tuesday evening I heard “yes”. I concluded a contract with a notary, registered it with BTI, and took it to the bank for verification. And again my Irina Alekseyevna helped: I brought the documents at 16-17, and in the morning I arrived with the guarantors to sign the contract. I transferred my part of the money from the deposit to the seller’s account — I took the payment to the mortgage department — we managed to transfer part of the bank’s money on the same day to the seller. I ordered the currency at my bank branch, fortunately, Elena Vladimirovna Voitekhovich (the manager of the bank’s branch, she advised me on deposits for the entire period) coordinated the work of the employee on transferring money from the deposit and ordered the currency without problems during the “after-hours” time (applications were submitted until 10.30 , and I was at 12).
Total loan amount amounted to 39 427 rubles. Due to the jump in the rate, I had to deposit my own funds not provided for by the deposit, as the bank could not issue a loan of more than 75% of the cost of the apartment. Preliminary agreement It was concluded at the rate of 2.10 rubles, and the deal itself - 2.17 rubles. Yes, the contract spelled out the cost in Belarusian rubles, but there is a line "which is equivalent to ... thousand dollars at the rate." The seller does not care about the course and everything else, he wants to get his amount in hard currency.
For 1.5 months now I have been living in my large apartment, ahead of the repair and 20 years of loan repayments. By the way, the first 18 months I pay only% - 195.07 rubles, since May 2020, the main debt will be added to 178.40.
A few words about%: when concluding a loan agreement, you can choose 2 options for the interest rate - CP +1% or the weighted average rate (I still do not understand what it is) for the term of the deposit. You can only go from the first option to the second for all 20 years. Because currently CMP 10, then I chose CMP + 1, because my weighted average is 13.
In recent years, housing lending, including with the participation of soft loans, has decreased significantly. Today it is necessary to count not only on support from the state, but also on our own strengths, to take into account the possibilities in each specific situation.
To solve the housing problem, JSB Belarusbank offers a system of building savings: any client gets the opportunity to choose the most convenient plan accumulation and independently determine the timing, as well as the amount of investment money in the construction or purchase of housing. Thanks to the disciplined accumulation and obtaining of loans under profitable interesteven families with pretty modest income may well fulfill the dream of their own square meters.
For more than 10 years, the active part of the population of the Republic of Belarus has been successfully using the proposed service. The system of construction savings is so convenient, flexible and controllable that it allows you to change the conditions during the accumulation process: at the beginning, middle and end of the savings phase.
HOW DOES THE CONSTRUCTION SAVING SYSTEM WORK?
The essence of the system is quite simple, it consists of 2 stages: accumulation of 25% of the cost of housing own funds and directly lending the remaining 75% of the cost of housing.
Initially, the client is competent individualwho wants to build housing - allocates money for the "Housing and Savings" deposit in the bank. Annual percentage equal to the NBRB refinancing rate (as of April 1, 2017 - 15% per annum). Expense operations on this deposit are provided only in the form of cashless transfers for the construction or purchase of housing, as well as the purchase of housing bonds.
The term for the placement of funds in the bank is agreed in advance: 3 options for the accumulation plan are proposed, with a different term for depositing and saving funds.
FREQUENTLY ASKED QUESTIONS
1. Do I need to be registered in need of improvement housing conditionsto become a member of the building savings system?
Not necessary. The service can be used by persons who need to improve their living conditions, and people who do not need to improve their living conditions. Persons entitled to soft loans can use the building savings system to pay for “extra” square meters.
2. System participants can send money only for housing?
Not. Accumulated and loan funds can be used not only for housing, but also for the purchase of housing, including in the secondary market, as well as for the purchase of housing bonds.
3. How to get a loan as quickly as possible?
In order to apply for a loan after 19 months (the minimum possible period of the savings phase), the amount down payment the deposit account must be in the amount of the accumulation amount (25% of the cost of housing) or on the day the account is opened, the down payment amount is 50% of the declared amount, the remaining part is paid within 1 month from the day the account is opened.
4. If there is no need for a loan, is it possible to transfer the right to receive a loan to another person?
Can. Having accumulated funds, you can transfer your right to receive a loan to another person who is a family member or close relative of a participant in the construction savings system.
5. Under what conditions can I terminate the Housing and Savings deposit agreement?
Upon termination of the contract or cash expense operation on deposit, the participant leaves the System. If the deposit has been kept for less than 19 months, then the income is paid at the reduced interest rate applicable to the demand deposit. If the funds were stored for 19 months or more, then interest is not recalculated at a reduced interest rate.
6. Is there a commission for transferring funds to the account of the developer from the Housing and Savings deposit?
Money transfers in Belarusian rubles from housing savings deposits in the building savings system of JSC Belarusbank are implemented as part of a comprehensive service WITHOUT charging a fee.
7. Is it possible to purchase 2 apartments using one system of building savings?
Not. Under one contract housing savings the participant can build (acquire) only one dwelling.
8. Is it possible to purchase housing from relatives through a loan under the system of building savings?
Not. A loan is not issued for the purchase of housing from relatives (spouse, children, parents, siblings).
The system of building savings is:
the possibility of providing housing in any city;
obtaining a loan regardless of need for improvement of housing conditions;
solving your housing problem by accumulating part of your own savings and obtaining a loan for the construction or purchase of housing on more favorable terms.
With the help of the building savings system of Belarusbank JSB, you can purchase or build an apartment (individual residential building) regardless of the place of opening a deposit account, solve housing problems not only yours, but also your near and dear ones.
The building savings system consists of two periods:
the period of accumulation of own savings by opening the term deposit "Housing and savings";
crediting period.
First period. The period of accumulation of own savings by opening the term deposit "Housing and savings".
You can apply for the “Housing and Savings” fixed-term deposit at any branch of Belarusbank JSB.
Entering the system of construction savings, you choose the most convenient accumulation plan and independently determine the accumulation period and the amount of money invested in the construction or purchase of housing. The period of accumulation of funds is 3, 5 or 7 years.
When you make ahead of schedule the amount of your own funds for the “Housing and Savings” fixed-term deposit, you also have the opportunity to receive a loan ahead of schedule.
The “Housing and Savings” fixed-term deposit income is accrued in the amount of the refinancing rate of the National Bank of the Republic of Belarus and is monthly added to the deposit.
Second period. Crediting period.
The system participant is credited after the end of the first period.
The bank gives you the opportunity to conclude a loan agreement to pay for the construction or purchase of housing;
Having accumulated cash on urgent contribution “Housing and savings”, you can transfer the contribution and your right to receive a loan to another person (parents - to children, nephews, grandchildren and others), and the loan can be issued at the place of residence of another person, taking into account its solvency;
Having accumulated funds in the amount of 25% of the cost of housing, you have the opportunity to get a loan for the missing amount to pay for construction or purchase of housing in the amount of up to 75% of the cost living quarters;
The term of use of the loan (up to 20 years) and the procedure for paying interest are determined similarly to the term and procedure for paying interest established for soft loans for housing construction;
The interest rate for using the loan corresponds to the level of the NB RB refinancing rate + 1 percentage point, which is 2-5 points lower than the interest rates on loans on a common basis;
Payment of interest for using a loan is made in equal installments and does not depend on the need to improve housing conditions, which will allow you to plan expenses family budget for a long period of time;
With a change in the refinancing rate of the National Bank of the Republic of Belarus, the interest rate on the use of credit changes both under newly concluded and under previously concluded loan agreements.
Additional Information:
Green number 8 801 100 4444; 8 801 100 5454
If you do not have a horde of 3-4 children, and your legs are intact, then you can hardly qualify for a soft loan for construction.
And even if you can, then hardly stand at his expense, those square metersyou are counting on. Not to mention the fact that in any European country the rates on mortgages open to the mass market are lower than on our soft loans.
Ordinary lending has become catastrophically unclaimed banking service. for very impressive amounts, average families cannot.
But, in general, loans are not the only way to “get involved in construction.”
Silence of the Lambs
One of the alternative tools is a system of building savings. July 1 marks the 9th anniversary of how it began to operate on the basis of Belarusbank. In fact, the mechanism has not received widespread use and is based only on financing at the expense of Belarusbank itself without any state injections.
The last bravura mention of the system of building savings (as they say, in sua) is dated last year and belongs to to the former head of the Belarusian regulator Nadezhda Ermakova:
“The National Bank is developing a system of building savings, because such forms of lending have been operating in many countries of the world for a long time. And a citizen who wants to have housing must accumulate it himself. ”
The statement on the independent participation of citizens in the construction and acquisition is true and justified, as history has shown mass concessional lending sooner or later leads to a surge in prices, speculation in the real estate market and, as a result, devaluation.
The system of building savings is based on market mechanisms and, as practice shows, has taken root well in many countries of the world. Unfortunately, the National Bank did not provide its development, perhaps the banking minds sculpt, something ingenious, and maybe they just forgot about it.
And most likely the latter. Because in May 2015 the new chairman of the Board of the National Bank told reporters that before the European mechanisms for lending to housing and "rates, as in Poland" will have to wait another 3-4 years, no less. The market is not the same.
What is the price?
The savings system, like everything in this world, has its own pros and cons.
The positive aspects of this mechanism are boldly attributed to the fact that the system itself consists of two parts - savings and payment. Savings period - the time during which the depositor’s money is deposited at a small percentage. You can’t withdraw, replenish, if agreed by the terms of the contract, you can. There is a risk, but more on that later.
Secondly, you can be a member of the system regardless of "need" and registration, and the purchase or construction of housing can occur throughout the republic.
As for the figures, the loan itself can be issued in an amount equal to not more than 75% of the cost of housing, for up to 20 years, with interest rate for using a loan or in the amount of the refinancing rate plus one point (today it is 26%)or in the amount of the average weighted refinancing rate of the National Bank for the period from the month of conclusion of the agreement to the month preceding the month of conclusion loan agreementincreased by one percentage point.
Payment of interest for using the loan is made in equal shares, funds from the account are transferred to the address of their final recipient by bank transfer.
By the way, within the framework of one housing savings agreement, a participant can build (acquire) only one living space.
Jump into the last car of the departing train
The whole system has been tested and viable, if not for one “but”, unfortunately, real estate prices in our country are tightly tied to the dollar, and the whole system operates in rubles, so participating in it has a risk not to earn, but lose all savings during the next devaluation.
The experience of the last 9 years, during which a whole series of depreciations belarusian ruble, shows that between the course jumps there is always time to enter the system of building savings and manage to get credit. But we must take into account that the time between jumps is reduced, and the minimum period for which you need to put money is at least 19 months.
Grated Kalach
- When, after graduation, the question arose of acquiring my own housing, the only affordable option was the system of building savings, -shared her story with the project CHOOSE! BY client of Belarusbank Ksenia. - Take advantage soft loan I couldn’t, since I was a visitor, I couldn’t buy it on the secondary market or build it from scratch, as a young specialist, even with the help of my parents. A year and a half passed quickly, by the time the crediting period began, I didn’t even have time to look after myself. As a result, the choice fell on one-room apartment to Sukharevo for 65 thousand dollars.
According to the interlocutor, sellers react quite adequately to the calculation through the system of building savings, so there were no problems.
- I chose to pay according to the system rate ref +1 p.p. As a result, when the rate jumped at the end of 2014, my payments increased. This upset. Today I’m paying 7 million, and before the raise there were 6 million, - the girl summed up.
Specialist of one of the real estate agencies Eugene commented on the story of buying an apartment on a system of building savings.
- Nowadays, all methods are good,- says an expert on real estate. - The system of building savings is beneficial when everything is calm on the market, but in general, if our state, for example, in Europe, paid a bonus to the participants of the system and simplified the tax system, then soft loans could be closed completely so as not to cause dependency. But, unfortunately, the idea is still stalled.
The system has been skidding for almost 10 years, and could be a good help to both construction and banks. Well, we are waiting for the promised. 3 years, the countdown has gone.
Valentina Zakharovna, July 1 marks three years since the system of building savings was introduced in Belarusbank. Its purpose is understandable - to help people accumulate funds for the construction or purchase of housing. And what is its essence?
- The system of construction savings proposed by the bank is a completely new financial instrument for Belarus. And it was our bank that developed and implemented it for the citizens of the republic. The system helps to accumulate the required amount of cash (at least 25% of total amount planned investments for the construction or purchase of housing). After that, the bank provides a loan of up to 75% of the amount of planned investments on more favorable terms in comparison with the existing loan conditions. That is, this system consists of two stages - accumulation and lending.
The bank offers three options: 3 years, 5 and 7 years of accumulation. Bank experts give recommendations on how to build an accumulation schedule, which option to choose for accumulation, and the date on which the right to receive a loan is determined is preliminarily determined.
In the case of accumulation of savings in equal installments, the right to receive a loan occurs after the expiration of the entire period of the selected option of accumulation. When the full amount of money is paid on the day the contract is concluded, the right to receive a loan comes after 19 months.
Thus, the sooner the money is brought into the system, the earlier the date of obtaining the right to a loan comes. And this rule works scrupulously.
After the accumulation of funds, the credit stage begins. The loan is issued for a period of up to 20 years at the refinancing rate of the National Bank of the Republic of Belarus plus one percentage point. The loan amount is up to 75% of the amount of construction or purchase of housing, depending on the accumulated amount of savings.
I will dwell separately on the economic aspects of the attractiveness of the building savings system.
Firstly, at the funded stage, the bank pays (accrues) income in the amount of the refinancing rate of the National Bank of the Republic of Belarus. Secondly, a long loan term - up to 20 years. Thirdly, the loan payment rate is 2-5 percentage points lower than other loans for the construction or purchase of housing. Fourthly, repayment of the main debt and interest on the loan is made in equal parts. In addition, all participants in the system, regardless of the need for improvement of housing conditions, are on an equal footing with respect to the terms of the loan and the size of the fee for using the loan.
These conditions are very attractive and significantly increase the creditworthiness of participants in the construction savings system.
- How many people used this system of the bank to solve the housing problem?
- The work of the system of building savings over three years has shown that this product is in demand. About 5 thousand people took part in the system of construction savings of Belarusbank, placing over 60 billion rubles on the Housing and Savings Deposit. Given the completion of the savings phase and obtaining loans as of June 1, 2009, 3.1 thousand accounts are in force under the “Housing and Savings Deposit” with a balance of 45.3 billion rubles.
- Does the place of residence of a participant in the system affect his ability to purchase or build housing in another region?
- One of the attractive factors is that a participant in the system can build or acquire housing in any region of the country.
A participant in the system has the opportunity to transfer his “Housing- cumulative contribution”To any institution of“ Belarusbank ”with preserving the history of accumulation, and you don’t have to start all over again. Any person, such as grandmother, parents, can become a participant in the system in order to accumulate funds for grandchildren and children and help them solve the housing problem in the future. These persons have the opportunity to transfer the right of claim under the housing savings agreement to their grandchildren or children, who in the future will receive a loan themselves, build or buy housing, and will themselves pay the bank for the used loan.
- In February last year, the bank began implementing the second stage - issuing loans under the system of construction savings. What is the percentage of participants in the system who have used bank loans over the past year and a half? And what more - build or buy housing?
- During this time, loans were issued in the amount of almost 50 billion rubles to about 800 participants in the system. At the same time, about 20% was directed to housing construction, and more than 80% to its purchase. As the figures show, most participants in the system buy housing.
- As with any loan, you need to submit a certain set of documents to get a loan through the building savings system ...
- It all depends on whether you plan to buy an apartment or build. When buying a home to obtain a loan, you must submit a contract of sale of premises and a certificate of the market value of housing, in the case of construction of an apartment - an agreement on its construction. Also, to calculate solvency, you must provide information about your income and the income of guarantors for the last three months.
- If a person moved to another city, is it possible to transfer the accumulative contribution to the system of building savings there, or should everything be started all over again?
- The contribution within the framework of the system of building savings can be transferred to any region of Belarus, but only to the establishment of “Belarusbank”.
- Is it possible to change the amount of the contract? For example, they planned to build a 2-room apartment, but the situation has changed and it is necessary to build a 3-room apartment.
- Yes it is possible. You just need to make a decision to increase the amount of contributions, and the more you accumulate, the greater the amount of the loan. You can come to the bank and, with the help of our specialists, adjust the accumulation mode.
The accumulation of funds is not regulated, the participant in the system determines for himself the mode and timing of depositing funds. This means that if at the initial stage it was planned to build a 2-room apartment, and then the situation changed, then the participant himself makes a decision and makes accumulation in a larger amount.
I invite you, dear readers, to become participants in the system of building savings offered by Belarusbank, to build or acquire an apartment or an individual residential building.