Rosselkhozbank mortgage for pensioners - interest rate and conditions in 2020

Terms of service

The main feature of mortgages at the Russian Agricultural Bank is that there are no so-called special offers for pensioners. Loans are issued to all clients according to the same rules.

A mortgage can be approved for the purchase of:

• apartments (in a new building or secondary housing stock),
• apartments,
• real estate outside the city,
• object with unfinished construction,
• a piece of land or rights to it.

In addition to the intended purpose of the mortgage, Rosselkhozbank sets additional conditions:

• loan amount from 100 thousand to 20 million rubles,
• debt repayment period up to 30 years,
• the client’s wife/husband automatically becomes a co-borrower,
• the purchased living space becomes collateral,
• property insurance is mandatory,
• down payment is the main condition.

The amount of the contribution depends on the type of property being purchased:

• for a plot of land for construction – 15%,
• for an apartment in a secondary housing stock – 20%,
• for apartments – 30%.

A decision on the application will be made within 5 working days.

Interest rates

The conditions under which mortgages are provided to pensioners at Rosselkhozbank vary depending on the type of housing and the degree of reliability of the client. What matters is the presence of co-borrowers and real estate, and insurance protection against the risk of non-fulfillment of obligations.

The bank offers the most favorable rates when purchasing housing from a developer

Rates for the “Home Mortgage Lending” program

Initial contribution amount:

1. Not < 15% of the cost of an apartment purchased under DKP or DDU; a townhouse with a plot of land purchased under the DCT; when purchasing land.
2. Not <20% for loan amounts greater than RUB 7 million. (except Moscow, Moscow Region and St. Petersburg); when accounting for income from private household plots; when purchasing a townhouse or house under a shared construction agreement.
3. Not < 25% when purchasing a house with a plot (as part of a purchase and sale agreement); when purchasing a plot, if income from private household plots is less than a quarter of total income.
4. Not <30% when purchasing apartments.

Interest rates for “Targeted mortgage”

Rates for “Mortgage on two documents”

Conditions:

1. The down payment is not <40% of the cost of the apartment, not <50% of the cost of the house, townhouse.
2. The term is until the borrower turns 65 years old.
3. Loan size: 100 thousand - 8 million rubles.

For all programs, 1% is added to the existing rate when the borrower or co-borrowers do not insure life or health.

Refinancing program rates

Conditions: contribution from 100 thousand rubles, the period until the borrower/co-borrower is 65 years old, loan size 100 thousand - 20 million rubles.

The best mortgage programs for retirees

An advantageous offer for a mortgage from Rosselkhozbank is the possibility of reducing the interest rate and repayment period.

When making a contribution of 30% or more, the rate will be:

• 14.5% – 5 years,
• 15% – 10 years,
• 15.5% – 20 years,
• 16% – 30 years.

When making a contribution of 50% or more, the rate will be:

• 13.5% – 5 years,
• 14% – 10 years,
• 14.5% – 20 years,
• 15% – 30 years.

As can be seen from the statistics, it is most profitable to take out a mortgage with a large down payment.

Conditions for obtaining a mortgage in 2020

There are standard requirements for pensioners wishing to buy a home. One of them is age. Until what age do Rosselkhozbank provide a mortgage for housing for pensioners?

The borrower must be no more than 75 years old at the time of final repayment of the loan. Mortgage loans are issued to those borrowers who retired at 55 and 60 years of age (men and women).

Clients can optionally purchase apartments in a new building, cottages, townhouses, land plots or objects under construction. The bank provides favorable conditions for older people.

If a pensioner pays a down payment, then the loan is given for a period of up to 22 years, at a rate that can be viewed here: https://rosselkhozbank24.ru/rosselhozbank-ipoteka-pensioneram.html. The older the borrower, the shorter the loan term and the higher interest rates.

Depending on the amount of the down payment, the duration of the transaction and the type of property purchased, the interest rate may vary. A slight increase in the rate is possible if the loan is issued without guarantors.

Mortgages for pensioners under 75 years of age without guarantors are provided in the absence of various encumbrances, such as:

• pledge;
• dependents;
• litigation;
• the likelihood of threats occurring.

Clients of Rosselkhozbank must provide a report on the funds spent and documents for transferring property as collateral as soon as possible . If the borrower is late with this requirement, the bank may temporarily increase the interest rate.

To obtain a loan, a clean and white scheme for acquiring a property from a legal point of view is important. The purity of the transaction can be traced, starting from the previous owner and ending with the transfer of housing to the current borrower.

Basic requirements for the borrower

In addition to the age category, the financial institution has several other requirements that the pensioner must meet, for example:

• stable solvency;
• availability of necessary documents;
• residence and registration in Russia is required;
• the recipient of the money must be a citizen of the Russian Federation.

Criteria for issuing a mortgage:

1. Work experience. Over the past 5 years, the borrower must have worked for more than 1 year and at least six months at the last place of work.
2. The loan is issued for a period of no more than 10 years. Those who retired early are entitled to a longer loan term (military, disabled, benefit recipients).
3. Sources of income. The bank's management is interested in regular loan transfers. Preference is given to pensioners with state pensions, as well as valuables, deposits and investments in the form of real estate and vehicles.

Loan payments must be made monthly . The auto payment service allows you to automatically repay the loan at the time the pension is credited to the client's account at Rosselkhozbank. When issuing a loan from the Russian Agricultural Bank there are no hidden or additional fees.

A mortgage may be refused if the applicant does not meet the bank’s requirements, which include:

• low solvency;
• the presence of incurable diseases;
• bad credit history, non-payment of taxes;
• errors in documents;
• low liquidity of real estate.

Real estate requirements:

1. The purchased housing must be owned by the seller for at least 3 years, this must be documented.
2. There is consent to the sale of all owners of the residential property.
3. The property should not be subject to collateral.
4. The property must be recognized as liquid and be assessed by a professional appraiser.
5. The property should not be under arrest or encumbered in favor of third parties.
6. No debts on utility bills.

List of registration documents

The standard package of documents is:

• passport of a Russian citizen with a registration mark,
• marriage certificate (if registered),
• birth certificates of minor children (if any),
• a copy of the work book,
• income certificate,
• application form.

In addition, additional documents are required for the property provided as collateral.

When purchasing an apartment (on the secondary market), a private house with a plot, or just a plot of land, the following is required:

• certificate confirming ownership of property,
• extract from the Unified State Register of Rights,
• conclusion of an appraiser on the value of real estate,
• certificate of family composition with an extract from the house register,
• consent of all owners of living space to transfer real estate on security (certified by a notary),
• cadastral passport from the BTI.

When purchasing a share in construction or purchasing an apartment in a new building, the following is required:

• certificate confirming ownership of property;
• extract from the Unified State Register of Rights;
• permission to carry out construction activities;
• documents describing the legal actions of the developer;
• project of a future finished construction project;
• an agreement confirming participation in shared construction;
• consent of all those registered for the transfer of real estate on security (certified by a notary).

When purchasing a plot of land for the construction of a private house, the following is required:

• certificate confirming ownership of property,
• extract from the Unified State Register of Rights,
• cadastral passport from BTI,
• estimate for the entire construction period and site plan,
• contract approved by the contractor.

Requirements for borrowers

According to the established requirements for potential borrowers, the following people will be able to apply for a mortgage for pensioners from Rosselkhozbank:

• the maximum age of the applicant cannot exceed 65 years;
• the age of the debtor at the time of full repayment of the debt cannot exceed 65 years;
• Only a Russian citizen can receive the money;
• Registration and registration in the country is required;
• There are no requirements for working activities for pensioners.

Additionally, you need to mention the documents that need to be provided. Their list is quite simple:

• passport;
• documents confirming the previously specified family composition;
• financial certificates and papers;
• documentation for the purchased property.

In addition, you will need to fill out an application form. In addition, bank employees can additionally request additional information of interest.

Instructions for registration

Step-by-step instructions for applying for a mortgage loan.

1. Carefully study the bank's offer.
2. Collection of necessary documentation.
3. Submitting an application to the lending committee.
4. Familiarization with the solution.
5. Endorsement of the preliminary purchase and sale agreement.
6. Signing a loan agreement.
7. Registration of insurance.
8. Making a down payment.
9. Registration of a transaction with the MFC on the imposition of litigation on the purchased property.
10. Transfer of the remaining amount.

Mortgage calculator

A mortgage calculator is a universal mathematical program that will help you assess the level of your credit load. This service is worth using before going to the bank to get a mortgage.

The pensioner will assess the feasibility of concluding a mortgage agreement based on the following data :

• The cost of purchased housing.
• Duration of the credit transaction.
• Availability of additional commissions.
• Mortgage repayment scheme.

After entering the required information in the appropriate fields, the calculator will create a payment schedule.

Why they might refuse

Rosselkhozbank may refuse to provide a loan to a borrower, arguing for the following reasons:

• no relatives;
• non-compliance with bank requirements;
• has a criminal record;
• refusal of compulsory insurance;
• low level of solvency;
• there is no property that can be left as collateral;
• damaged credit history;
• incomplete package of documents;
• the client is disabled.

Each application is considered individually.

What to do in case of refusal

Expert opinion

Kochetov Vladimir Viktorovich

Leading specialist in finance. 23 years of experience in a large bank in Moscow. Specialization: loans, mortgages, refinancing.

Ask a Question

Depending on the reason for the refusal, the client can correct the situation. For example, if not all documents have been provided, it is easy to bring the missing ones. Correct your bad credit history by paying off your debt.

Categories of pensioners receiving a mortgage

Some categories of elderly people can apply to the institution for money. Before making a deposit, the representative determines the chances of getting the money back. This is necessary to assess the chances of debt repayment.

Categories of pensioners who have a chance to receive money:

1. Married applicants. More often, such couples are considered wealthy and reliable.
2. Elderly citizens who have permanent or temporary work. If you receive systematic income once a month, there is a chance to receive a deposit.
3. Clients who own a property. If the loan is not repaid, the apartment or car is repossessed.
4. The pensioner must have a positive credit history. At the same time, have a pension card from Rosselkhozbank.

An important condition is that the applicant invites guarantors. This increases the chances. They must also be solvent.

Divorced citizens are often refused. Or those involved in litigation. In addition, the application is rejected if the applicant has dependents.