What is better to buy on credit?

National Bank of Ukraine decided to make the process of granting a loan clearer. According to decision of NBU from now users of mortgage should receive from banks full information about cost of its credits.

From now in documentation should be written not only sum of interests but also volume of all expenditures – for insurance, notarial services, service of credit and etc. Before these points could be unpleasant surprise for clients. Besides, mortgage is still one of the most popular ways of buying houses.

Users of mortgage often turn out to be in front of chose – on what real estate to take a credit: first id more expensive second is older. However, on client’s chose influence not only the condition of the accommodation but also procedure of credit activities. Mortgage of new building and secondary accommodation is two big differences. To form secondary credit you should spend a quite long time for collecting different documents. From Bureau Technical Inventory – about owner of real estate, from Local housing maintenance office -about family, from board of trustees – permission for children’s removal. The longest is the procedure of estimation of accommodation. Indeed, not only estimators do it but also workers of financial centers.

Credit for the first real estate is forming faster. But here are also its own disadvantages – usually, flats in new building could be credit only in financial centers with which company-developer cooperates. However, because of this cooperation the term of preparing of documents shortens till day. The estimation of such objects has already done by real estate developer, and documents from BTI and Local housing maintenance office for accommodation, where nobody lived is not necessary. By the way, by leasing new houses, the process of forming mortgage, as said, is on the stream – just change surnames of customers. However, one more thing is necessary – checking of paying capacity. Now estimate not only the financial security of the client, but as well his wife or husband, brothers-sisters, grandmothers-grandfathers.

Bankers think that poor relatives could prevent from conscientious payment of the credit. Previous loans are also influenced on receiving the credit. Credits stories are checked with help of other banks upon condition, that borrower will point them in his application form. Otherwise, it is impossible to check it. Association of banks of Ukraine once offered to make the only one list of non-payers. But this idea is still an idea.