Antipyretics for children are prescribed by a pediatrician. But there are emergency situations with fever when the child needs to be given medicine immediately. Then the parents take responsibility and use antipyretic drugs. What is allowed to be given to infants? How can you lower the temperature in older children? What medications are the safest?
If you don’t have a crowd of 3-4 children, and your arms and legs are intact, then you are unlikely to be able to qualify for a preferential loan for construction.
And even if you can, you’re unlikely to be able to afford the square meters you’re counting on at his expense. Not to mention the fact that in any European country the rates on mortgages open to the mass market are lower than on our preferential loans.
Conventional lending has turned into a 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 the construction savings system. On July 1, it will be 9 years since it began operating on the basis of Belarusbank. In fact, the mechanism has not been widely used and today is based only on financing from Belarusbank itself without any government injections.
The last bravura mention of the construction savings system (as they say, in vanity) is dated last year and belongs to Former head of the Belarusian regulator Nadezhda Ermakova:
“The National Bank is developing a construction savings system, because similar forms of lending have been operating for a long time in many countries around the world. And a citizen who wants to have housing must accumulate it himself.”
The statement about the independent participation of citizens in construction and acquisition is correct and justified, as history has shown that mass preferential lending sooner or later leads to a surge in prices, speculation in the real estate market and, as a result, devaluation.
The construction savings system is based on market mechanisms and, as practice shows, has taken root well in many countries around the world. Unfortunately, the National Bank never provided its developments; perhaps the banking minds are sculpting something brilliant, or perhaps they simply forgot about it.
And most likely the latter. Because it’s new in May 2015 Chairman of the Board of the National Bank told reporters that European housing lending mechanisms and “rates like in Poland” will have to wait another 3-4 years, no less. The market is not the same.
How much?
The savings system, like everything in this world, has its own advantages and disadvantages.
TO positive aspects Of this mechanism, we can safely attribute the fact that the system itself consists of two parts - savings and payment. Savings period - the time during which the investor’s money is on deposit at a small interest rate. You cannot withdraw, but you can top up if stipulated by the terms of the contract. There is a risk, but more on that later.
Secondly, you can be a participant in the system regardless of “need” and registration, and the purchase or construction of housing can occur throughout the republic.
As for the numbers, the loan itself can be issued for an amount equal to no more 75% of housing cost, for a period of up to 20 years, with an 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 weighted average refinancing rate of the National Bank for the period from the month of concluding the agreement to the month preceding the month of concluding the loan agreement, increased by one percentage point.
Payment of interest for using the loan is made in equal installments, 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 (purchase) only one living space.
Jump into the last carriage of the departing train
The whole system is tested and viable, if not for one “but”, unfortunately, our real estate prices are tightly tied to the dollar, and the whole system operates in rubles, so by participating in it there is a risk of not making money, but lose all savings during the next devaluation.
The experience of the last 9 years, during which a whole series of depreciations of the Belarusian ruble has occurred, shows that between exchange rate jumps there is always time to enter the construction savings system and have time to take out a loan. But we must take into account that the time between jumps is decreasing, and the minimum period for which you need to deposit money is at least 19 months.
Grated rolls
- When, after graduating from university, I was faced with the question of purchasing my own home, the only available option was the construction savings system, - shared her story with the CHOOSE!BY project Belarusbank client Ksenia. -I couldn’t take advantage of a preferential loan, since I was a newcomer, 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 flew by quickly; by the time the loan period arrived, I didn’t even have time to look for anything. As a result, the choice fell on a one-room apartment in Sukharevo for 65 thousand dollars.
According to the interlocutor, sellers react quite adequately to payments through the construction savings system, so there were no problems here.
- I chose to pay using the system ref rate +1 p.p. As a result, when the rate jumped at the end of 2014, my payments increased. This was upsetting. Today I pay 7 million, and before the increase it was 6 million,- the girl summarized.
Specialist of one of the real estate agencies Evgeniy commented on the story about buying an apartment using the construction savings system.
- Nowadays all methods are good,- says a real estate expert. - The construction savings system is beneficial when everything is calm on the market, but in general if our state, say, like in Europe, paid a bonus to participants in the system and simplified the tax system, then preferential lending could be closed completely so as not to breed dependency. But, unfortunately, the idea is stalled for now.
The system has been stalling for almost 10 years, but it could be a good help for both construction and banks. Well, we are waiting for what was promised. 3 years, the countdown has begun.
Construction savings is a system of accumulating funds and lending for housing construction.
Lending methods through construction savings are used in different countries. In Belarus, services in the field of construction savings are offered by JSC JSB Belarusbank.
How do Construction Savings work?
The essence of the system is quite simple:
First the client, i.e. a person who wants to build housing puts money into a savings account in a bank. The annual interest on such a deposit is small, withdrawals are limited, just like most other operations.
The period for placing funds in the bank is agreed upon in advance. The savings account is replenished according to the terms of the agreement, sometimes during the entire period of placement of the deposit, sometimes this stage ends earlier and a period begins in which the only movement of funds in the account is the accumulation of interest.
After the end of the savings stage, the client has the opportunity to pay for the purchase of housing with the accumulated funds. This period is called the payment phase.
Then, when the investor’s own funds are fully transferred to the housing provider, the client has the opportunity to obtain a loan from the bank and continue construction using borrowed funds.
The credit period depends on the terms of the agreement between the client and the bank. Other terms of the loan are also dictated by this agreement and are not fundamentally different from other loans. But the annual interest is assumed to be lower than for other home loans.
The benefit of construction savings is mutual for the borrower and the lender.
The credit institution has the opportunity to use the client’s money on favorable terms before construction begins. In addition to this, during the entire period of accumulation (savings) of funds, the bank indirectly monitors the state of affairs of the client: the timing of deposits, the amount of payments. The interest rate on the loan turns out to be lower than for other similar products, but this is compensated by the benefits already received from the deposit and the supposedly greater reliability of the borrower.
The loan recipient also benefits from a stable relationship with the bank. The comparatively smaller benefit from placing a deposit seems to him to be a payment for the favorable conditions of a future loan and the very confidence of receiving it.
Construction savings in Belarus
In the Republic of Belarus, agreements on the construction savings system are offered only by JSC JSB Belarusbank. It was not possible to find statistics regarding the number of people who used the service. But judging by the reviews on the Internet, the picture seems like this:
The construction savings system has been available since 2006, but has not become widespread. The majority continue to build through concessional lending, or agree to relatively small, short-term loans.
There are clients who were able to use the system, already live in the purchased housing and are rather satisfied with their decision. Most often they write that the transaction was formalized in Minsk, the minimum accumulation/saving period was chosen, and the housing was purchased on the secondary market.
You can clarify the current loan conditions for the construction savings system on the official website of Belarusbank https://belarusbank.by/ru/fizicheskim_licam/vklad_v_sisteme_stroitelnyh_sberezheniy.
Let's look at some of the defining conditions of this proposal.
The ratio of own and credit funds should be 1 to 4, i.e. 25% of the cost of housing is financed from the client’s deposit, 75% from a bank loan.
Minimum savings period, i.e. the period during which the deposit is in the bank is 19 months. The basic savings period is 36 months. The maximum possible duration of this stage is 127 months.
There are 3 loan plan options available, with for different periods depositing and saving funds.
During the deposit placement period, the client is accrued annual interest in the amount of the National Bank's refinancing rate.
After the end of the savings period according to the agreement, the payment period begins, when all accumulated funds are transferred (in non-cash form) to the account of the home seller.
Upon completion of payments, the credit period of the relationship begins. The loan repayment period is 20 years.
The interest rate on the loan depends on the refinancing rate. The client can choose from two options for connecting the annual percentage and rate:
- National Bank of the Republic of Belarus +1%
- Weighted average refinancing rate of the National Bank of the Republic of Belarus for the period from the month of concluding a housing savings agreement to the month preceding the month of concluding a loan agreement, increased by one percentage point
The Belarusbank construction savings system has several more advantages:
- Accumulated and loan funds can be used not only for housing construction, but also for the purchase of housing, including on the secondary market.
- Having accumulated funds, you can transfer your right to receive a loan to other persons (however, this does not relieve the borrower from the usual verification and approval of the bank).
Other terms of agreements can be found on the Belarusbank website and be sure to check with a specialist before concluding an agreement.
Is the construction savings system in Belarus profitable? Let it be a personal choice.
If the current refinancing rate were stable, then buying an apartment according to the described scheme would ultimately cost about 2.75 times more than buying without a loan. The same ratio for a preferential loan will be 1.87 times. Therefore, preferential loans are still much more in demand.
Also, receiving a loan is preceded by a savings stage. During this time, the deposit amount cannot be withdrawn (even partially) under the threat of a fall in the annual interest rate from the refinancing rate to the rate on “demand deposits”. The minimum deposit period is 19 months.
But! IN modern history In Belarus, periods of ruble stability have rarely been long. The collapse of the exchange rate at the savings stage is very unpleasant for clients; in the next credit years, this promises proportional relief of the credit burden.
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The construction savings system is:
the possibility of providing housing in any city;
obtaining a loan regardless of the need to improve 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 construction savings system of ASB "Belarusbank" you can purchase or build an apartment (individual residential building) regardless of the place where you open a deposit account, solve housing problems not only for yourself, but also for your family and friends.
The construction savings system consists of two periods:
the period of accumulation of one’s own savings by opening a term deposit “Housing and Savings”;
lending period.
First period. The period of accumulating your own savings by opening a term deposit “Housing and Savings”.
You can apply for a fixed-term deposit “Housing and Savings” at any branch of the Belarusbank JSB.
By joining the construction savings system, you choose the most convenient savings plan and independently determine the accumulation period and the amount of investment in the construction or purchase of housing. The term of accumulation of funds is 3, 5 or 7 years.
When you deposit your own funds ahead of schedule into the “Housing and Savings” term deposit, you also have the opportunity to receive a loan early.
Income on the term deposit “Housing and Savings” is accrued in the amount of the refinancing rate of the National Bank of the Republic of Belarus and is added to the deposit on a monthly basis.
Second period. Credit period.
Lending to a system participant is carried out after the end of the first period.
The bank provides you with the opportunity to enter into a loan agreement to pay for the construction or purchase of housing;
Having accumulated cash on term deposit“Housing and savings”, you can transfer the deposit and your right to receive a loan to another person (parents - children, nephews, grandchildren and others), and the loan can be issued at the place of registration of another person, taking into account his solvency;
Having accumulated funds in the amount of 25% of the cost of housing, you have the opportunity to receive a loan for the missing amount to pay for the construction or purchase of housing in the amount of up to 75% of the cost of the premises;
The term of the loan (up to 20 years) and the procedure for paying interest are determined similarly to the period and procedure for paying interest established for preferential loans for housing construction;
The interest rate for using a loan corresponds to the level of the refinancing rate of the National Bank of the Republic of Belarus + 1 percentage point, which is 2-5 points lower than the rates on loans on a general basis;
Payment of interest for using the loan is made in equal installments and does not depend on the need to improve housing conditions, which will allow you to plan family budget expenses for a long period of time;
When the refinancing rate of the National Bank of the Republic of Belarus changes, the interest rate for using a loan changes both for newly concluded and previously concluded loan agreements.
Additional Information:
"Green number" 8 801 100 4444; 8 801 100 5454
The housing problem is one of the most pressing issues among Muscovites who are looking for money to purchase real estate.
A mortgage for housing construction in Moscow makes it possible to obtain real estate in a fairly short period of time.
To obtain a mortgage loan to build a house, the bank puts forward the following requirements to the client:
- Age from 21 to 65 years;
- Stable work;
- Income. Not only the client’s earnings are taken into account, but also his family’s;
- Amount for initial deposit.
- Guarantors are needed if the client’s income does not satisfy the bank.
Banks in Moscow provide the following types of mortgage loan programs in 2019:
- standard;
- social;
- "Young family";
- for military personnel.
The client is given the opportunity to independently calculate the monthly payment using a virtual calculator, compare conditions in several banks and choose a more profitable option for himself.
Applying online for a loan in Moscow is easy, just a few steps are enough:
- Go to the bank's website.
- Fill out an application.
- Send it to the bank.
- Get an answer.
- Collect necessary documents and go to the bank.
How can Muscovites get a mortgage to build a house?
You need to submit a number of documents to the bank:
- Passport.
- For males - military ID.
- SNILS.
- Education documents.
- Marriage certificate, birth documents of children.
- Work record book from work
- Income certificates.
When issuing a mortgage for the construction of a private house, the bank takes into account what material the client is building the house from (concrete, brick or wood), as well as the characteristics of the foundation.
Those clients who build from more durable materials have a greater chance of getting a mortgage in Moscow for building a house.
Which Moscow banks provide mortgages for housing construction to Muscovites?
Among the leaders:
- Sberbank;
- Bank of Moscow;
- Rosselkhozbank;
- Credit Bank of Moscow;
- RosEvroBank and others.
By taking out a mortgage for housing construction, the client quickly resolves housing issues. Preferential mortgage agreements that are economically beneficial to the client are a reliable investment.
Today there are several options for buying your own apartment or house. For example, lending or participation in the construction savings system. The second option is currently offered to Sluch residents and residents of the region by only one bank in the country - Belarusbank.
She spoke about the construction savings system Anna Serzhanova, Head of the sales department of retail banking products and services of branch No. 615 of ASB Belarusbank (Slutsk).
The system consists of two stages: savings and credit.
First stage. A deposit account is opened for the participant on the terms of the “Housing and Savings” bank deposit. The interest rate on this deposit is equal to the refinancing rate of the National Bank, currently it is 18% per annum.
The program participant determines the amount of money that will be accumulated over 3, 5 or 7 years in Belarusian rubles. During this period, you need to collect 25% of the cost of future housing.
Second phase. Next, a loan agreement is concluded for the construction or purchase of housing. Loan terms: up to 75% of the cost of construction or acquisition of residential premises for a period of up to 20 years. There are several options for the interest rate that will be charged for using the loan. One of the options is a rate equal to the National Bank refinancing rate plus one percentage point (19%). Interest is paid in equal installments regardless of the system participant’s need to improve their living conditions.
Rates on housing loans in banks (as of October 5, 2016):
- Belinvestbank - 29.9%
- Belagroprombank - 26%
- Priorbank - 25%
- BPS-Sbarbank “Classic” - from 25%
- Belarusbank - 24%.
Read more about the ways in which you can now purchase housing in the upcoming issues of the Kurer newspaper.
