What is a mortgage holidays and to whom they laid
Right / / December 24, 2019
What is a mortgage vacation?
On 31 July 2019 the borrower canFederal law from 01.05.2019 N 76-FZ temporarily unable to pay the mortgage or reduce the amount of payments on their own for a period of up to six months. To negotiate with the bank that is not required - you need only notify the financial institution.
Count on the mortgage holidays are not all. It is necessary that a number of factors coincided.
Who can use them?
The grace period is introduced to help people in difficult situations. Moreover, the law specifically stipulates what follows:
- You lost your job and have risen on account of the employment service.
- You are recognized as disabled first or second group.
- You are sick for a period of more than two months.
- Your income decreased by more than 30% compared with the previous past two months. The size of the payments on the mortgage is more than half of the new salary.
- You became more dependents (here are minors, the disabled first and second groups, under the care of relatives). At the same time income for the past two months, fell by more than 20% and the size of payments on the mortgage is more than 40% of the new salary.
This is a full list of difficult situations. The rest of the complexity of life and can even swipe on the budget, but the right to a grace period is not given.
But that's not all. Mortgage holidays are available only if:
- accommodation in mortgage - Your only thing you have in your property there are no other apartments and houses. In this case, if you have the share, which is lower than the local standards of housing for social rent agreement, then it will not take into account and mortgage vacation you will not give up. Norm specify the site of the regional executive authority.
- Real estate in the mortgage used to your own personal needs.
- loan amount does not exceed 15 million.
- loan agreement previously at your request did not change.
Under one contract of the mortgage you can take a vacation only once.
When can I leave on vacation mortgage?
Apply for a mortgage, you can break at any time. Moreover, and for the loan agreements, which were entered into before July 31, 2019. The main thing - to meet all the criteria for obtaining the grace period.
How did it apply?
The law recently came into force, so waste no mechanism. So we can make a request in free form. In it is necessary to specify:
- What is the reason for granting a grace period. It is better to use the wording directly from the law.
- In what form do you intend to use the right to break - stop or reduce their payments. If the latter, then enter the amount. Her you choose at its discretion.
You can also write:
- When you want to get away for mortgage holidays. By default, the date of the grace period will be counted from the date of the bank. However, you can select it for yourself - but not later than two months from the date when the request was sent to the financial institution.
- How much mortgage you take a vacation. Maximum term (aka default period) - six months. Vacations can take shorter, longer - no.
A request should be attached documents. Their exact list as specified in the law. Ask the paper over this bank has no right. You will need to extract from the real estate of the Unified State Register housingThat you have in the property, and a document confirming entering in difficult life situations. It can be:
- Help from the Employment Service.
- Certificate confirming the receipt of disability.
- Sick leave.
- Reference 2-PIT, indicating a change in income.
- A birth certificate or adoption, or the appointment of a guardian or trustee.
To understand how to apply, it is better to re-read the loan agreement. If there are any restrictions on the ways of interaction, pass the paper only in the way that in it is specified. If this is not specified, it is possible to bring the documents in person or sent by registered mail.
How to understand that the mortgage holidays started?
The bank has two days of receipt of the documents, to ask you for additional papers, but only those that are specified in the law. The rest of the grant is not necessary, but you can do it if you wish.
Within five days from the date of the bank should indicate whether you vacation or not, and why provided. If you denounce some documents, five days counted from that date.
If there is no response from the bank within 10 days are automatically considered to what your requirements are met.
How to pay the mortgage during the holidays and after them?
It all depends on what you decided, to suspend payments or to reduce them.
If you chose the first option, for a period of vacation you will find respite. When they run out, you will continue to make money as before. A missed payment, the bank will simply add to the schedule at the end. As a result, the term of your loan will increase during the holidays. But no fines, no additional funds for that you do not pay.
If you chose the second option, a mechanism will be the same, but you will pay less.
The Bank is obliged to provide a new payment schedule until the end of the holidays.
In addition, you can always stop holidays and start making money. Advance payment will go to pay off the missed payments.
How this will affect the credit history?
Mortgage holidays will reflect in storiesBut it does not worsen it. However, much will depend on the position of individual banks - as they would apply to those who took advantage of their legal right.
Are there any additional costs?
Not. Borrowers who are entitled to mortgage holidays released from payment of state fees related to the changes in the mortgage contract, and personal income tax on the possible benefit of a grace period.
remember that
- Take advantage of a grace period is borrower with a mortgage on a single housing, caught in a difficult situation. In this case the loan should not exceed 15 million.
- Vacations do not spoil the credit history and do not require an additional fee.
- The maximum term vacation - six months.
- The debt does not disappear, it will have to just pay later.
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