Mortgage In Russia And For What You Need A Credit Broker

The mortgage market in Russia is increasing every year, and interest rates in turn only grow. What is the reason for this and how to guess the period of the lowest rates, at what time is it better to take a loan and is it worth waiting for lower rates in the future? Let's try to answer these questions.

To date, the level of interest rates has increased and averages 13-13.5% for a borrower with a small initial deposit and a loan for 20 years.
The reason for such high interest rates is the level of inflation, as well as political instability in the country recently. At different times of the year, interest rates can both rise and fall.

Usually banks reduce rates in the spring and in particular autumn, when the peak of real estate purchase is at its peak. At this time, many banks have discounts and they reduce interest rates. This is the time most favorable for taking a loan from a bank.

But rates in banks are somehow very high, and even a 2 percent decline will result in a huge overpayment. So it's worth being realistic and understanding that a mortgage loan is a big responsibility and you need to be prepared to pay this loan over time. As for long-term trends, the forecasts are not comforting. One can definitely say that in the near future no significant cuts in mortgage rates are expected.

And what is surprising is that often it is very difficult to take a loan. This is due to the fact that there is a very large category of borrowers in Russia, which works for hire and earns income in an envelope. Another category of borrowers with already open loans or delinquencies for them. And there are borrowers with a set of all possible options at once. The same difficulties often arise for business owners, whom banks credit with a scratch.

In all these situations comes in support of a loan broker. It also happens that the borrower understands the whole essence and usefulness of credit brokers and wants to save time and get preferences from banks, which in the future will result in saving a large amount of money.

A mortgage broker is an organization or a person who is well versed in credit products and loan conditions that are present at the moment on the market. One of the leading credit brokers is Solum.

It would seem that credit brokers are an additional expense of the borrower, but if you look at this situation from the other side, it becomes obvious that the credit broker practically saves money in almost all situations! How it happens is very simple:

Credit brokers have partnerships with banks, insurance and valuation companies, which is why credit brokers have discounts on interest rates for their customers and increase the chances of approving a borrower's loan. On the page of the website of Solum, devoted to mortgage lending, you can find

When accessing through brokers, you get a much higher probability of approving the coadit, because Banks value partnership and love to work through brokerage agencies.

It remains to be said: be careful with interest rates and additional payments on loans. And you can advise now to take a loan with a variable interest rate and the possibility of refinancing in a year or three years - at the moment it is much more profitable than fixed rates. It is possible that in this time you will be able to refinance the loan at a constant rate with a lower interest.