What was the mortgage in different historical epochs

Modern financial tools have dramatically changed the relationship of man to his own farm. Take the same mortgageShe allowed people to buy housing and other real estate in the conditions that were previously impossible. We look at how the issue has been arranged with a mortgage at different times, to see how it has helped people improve their lives.

1. Paleolithic and early

Scientists know very little about how the family was organized and economic life in prehistoric times. Archaeologists and paleogenetics at best, can reconstruct the size of human groups, their genetic similarity and occupation.

In order to reconstruct the customs of the people of the Paleolithic, usually look at a more or less modern tribes of hunter-gatherers (for example, the people of Guayaquil, living in what is now Paraguay). But it seems that the ancient people were prone to patrilocality - view of family relationships in which the woman goes into the tribe of her husband's father (if the concept of "man" in this sense, is applicable to such antiquities). Well, they had exactly exogamy - the ban on closely related marriages. In general, it was necessary to live

with parents.

If there was a modern mortgage: probably quite a few families could get a mortgage with food, clothing and weapons, and to unite in a new tribe. About the same as it is now populated by young families together in new buildings. As a result, members of the new tribe would have one environment from the age of two.

2. In Ancient Greece

In fact, the word "mortgage" - the Greek origin and means "the base", "collateral" or even a "warning". It was the name of a column, which is set on the border of the land, so that he "warned" that this site serves as a debt security.

Thus, the Greeks was a form of mortgage property liability of the debtor to the creditor of his: in the case of failure to pay the lender has the right to pick up a mortgaged land. Until the development of the mortgage insolvent debtor to the creditor replied personal freedom, so the mortgage has been more progressive measure of economic relations.

Naturally, this in Greek society had to be developed by the institution of private ownership of land. In 621 BC the Athenian ruler of Draco was the first code of laws enshrined in writing (yes, the same ones draconian measures), Which severely punished any violation of the property of others. This gave impetus to the development of credit and debt, ensuring that the land appeared. The full Greek mortgages earned at the beginning of the VI century BC.

But this mortgage was not available to everyone: to use it was necessary to own their own allotment.

The eldest son in the family was the heir of his father's inheritance, so he could bring his wife to his parents' house, which later together with the earth passed in its property. It was he could count on a mortgage in the future, which, in fact, was he no longer really need.

But the younger sons, in this sense have been violated and could either be content with scraps of land, or to do the service of the rich, or to seek his fortune in the colonies. All this is not really contributed to the creation of the family in a relatively young age.

If there was a modern mortgage: first opportunity to gain ground in his hometown, and then pay for it in cash or debt service would have turned the lives of the ancient Greeks. Younger sons certainly be delighted. However, since then they have lived in the neighborhood of Athens, Sparta and Corinth, and did not cover all its colonies Mediterranean. Or, on the contrary, they would have covered the whole oikoumene.

3. In ancient Rome,

In the ancient world the mortgage was known in Babylon (Hammurabi in the VI century BC), Mesopotamia, India, even (in the II century BC). But the most close to the modern conditions the mortgage began in ancient Rome.

At first, the debt ratio of the Romans built, so to speak, on parole, in the form of a "deal of trust" (lat. fiducia), moreover risks themselves took no creditor and the debtor: it is in exchange for money with a special legal procedure transferred to the creditor collateral, ie movable or immovable property. After the payment of the debt could only hope that the lender will keep his promise and with the help of a mirror legal procedure returns the bail. If the lender for some reason refused to do so, the debtor could only besmirch his name among the citizens - the law he could not help anything, the deal is a deal.

Already to the II century BC collateral relations have developed. Under the new form of a pledge transaction (lat. pignus) lender in exchange for the money received is not the ownership of the debtor's property, but only the right to possession of the property. The lender did not even have the right to use this property, but the fruit purchased from this property may go to the payment of a debt or interest thereon. Only in the case where the debtor can not pay according to their commitments, the lender becomes the owner of the property.

Finally, in the early decades of the II century BC, there is a third type of collateral, really close to the current mortgage (lat. hypotheca legalis), - a pledge of property without passing it to the lender.

This was aided by a change of the political and economic conditions of the time: the weakening of the slave system and the mass transfer of land to tenants. Initially tenants - apartments or small plots of land - as security for rent They pledged their movable property (for example, furniture or instruments of agriculture), but continued possess it. Subsequently, the object of the mortgage might become real estate.

If the borrower could not repay according to the agreement, the lender gets the right to demand lays thing with its subsequent sale at auction and payment of the proceeds of the debt balance borrower.

If there was a modern mortgage: Roman mortgages was already quite developed, but she had a number of shortcomings. For example, in ancient Rome was not conducted a single register of property, and the lender taking collateral could not be sure that the same property is already not mortgaged to another creditor and that in case of bankruptcy of the borrower mortgage his right not to face a more someone's mortgage right.

In addition, mortgages are usually distributed on all the property of the borrower, making it uncertain volume and value of which may change over time. This unsettled property relations hampered the development of the mortgage - and thus suffered needed her Roman citizens.

4. In medieval Europe,

As can be seen from the above, the mortgage is able to normally exist only in strict compliance with the rights of the contracting parties. Complicated structure of the transaction require the control and regulation in the future - well-functioning registration system. All this could provide only the state. Therefore, together with the fall of the Roman Empire as a single centralized state formation in the V-VI centuries BC Institute mortgage practically ceased to exist.

He was revived only in the era of the High Middle Ages (XII-XIII century), on the new wave of financial and legal relations. Feudal lords often needed money for the conduct of civil wars or crusades, and so they were forced to mortgage their castles and ancestral lands moneylenders or richer neighbors.

As a result, Western Europe as the successor to the Roman Empire took over and developed the Institute mortgages, making it even more formalized, developed protected by law. In addition, there were special mortgage book, where to enter information about foreclosures.

In the late Middle Ages (XIV-XVI century), the mortgage was definitively established in the form in which it exists to this day: pledged assets It remains in the possession of the debtor and the creditor is entitled to claim the event of default of debt pledged property with its subsequent sale at auction.

If there was a modern mortgage: well, if you are a major feudal lord, and you have something to pawn - and hope for the spoils of war, and who will reimburse the debt and interest. But the vast majority of the inhabitants of Western Europe in the Middle Ages, were poor peasants, who owned plots too small to rely on large loans. On the whole, the courts, claims, notaries and lawyers - for the rich and famous, at best - for the Burghers of large cities. No mortgage during the Middle Ages was still far from being public.

5. Modernity

In the XIX century industrial growth, urbanization and urban infrastructure development contributed to the rapid growth of the mortgage market. In the most developed European countries - Britain, France or the Netherlands - principles of lending to finance the construction used actively and widely. Investing money in the construction industry and went on also in other European countries, including in the Russian Empire.

In the twentieth century the special role of a mortgage acquired in the United States during the Great Depression. That it was the basis of "New Deal" of Franklin Roosevelt.

On the US housing market, there are two types of credit - construction loan and a mortgage. The loan amount does not exceed 80-90 percent of the value of the mortgaged property. The size of the first contribution introduced by the borrower's own means, respectively, of 10-20 percent. The poor state gives preferential loans for the full cost of the house.

Today, the mortgage is issued for a period of 15-20 years in the United States. A distinctive feature of the American mortgage is a deliberate and systematic government support for mortgage lending through tools such as the secondary market mortgage loans to state insurance, benefits in obtaining loans for low-income citizens. Thanks to these measures and access to credit have their own housing 75 percent of Americans.

In Russia, the mortgage market began to develop only after the collapse of the USSR. In 1997, the Government established the Agency for Housing Mortgage Lending for the influx of investments in mortgages. In 1998, a law was passed "On Mortgage (mortgage)". According toMortgage loans granted to resident individuals, and acquired rights requirements on mortgage housing loans in rubles Central Bank, growth in mortgage lending in 2017 compared with the year before last was 37 percent. There were granted loans amounting to more than two trillion rubles in 2017. This was made possible due to the consistent reduction of the key rate. In December 2017 it was recordedThe Bank of Russia has decided to keep the key rate unchanged at 7.25% 7.25 percent per annum on the level.

The general trend of modern mortgage is obvious - it will be increasingly accessible to a growing number of citizens. The goal of states that support this type of lending is to provide their own housing for the maximum number of its citizens and young families.