Mortgage to the land: fineness of design and advice on choosing a bank

Mortgage to the land helps many people to acquire a territory where you can build. If we take into account the current economic situation, the constant decline in the production level, as well as inflation, we can say that the mortgage includes a large number of advantages.

Functions of land mortgage crediting

If a person draws up a mortgage, then he is guaranteed to receive real satisfaction of all his claims. Mortgage to a land plot has the main function, which consists in the performance of all established items under the contract. Borrowers must accurately and unquestioningly fulfill all obligations under each item of signed documentation. The provisions are governed by the current legislation.

From the ancient Greek language the word "mortgage" is translated as "pledge". The earth is a reliable object of pledge, if a person will use it rationally for a long time, then it will not wear out. The agreement on mortgage lending today is a widespread phenomenon. In modern society - it is a demanded collateral and legal relations. This fact can be explained by the fact that the main feature is the value and attractiveness of obtaining real estate.

How are mortgage lending contracts concluded?

Today, it is possible to make mortgage loans not only for purchasing an apartment or a house, but also for obtaining a land plot. It is worth highlighting the main features of such a proposal - a complex and time-consuming procedure for registration. But the land is not subject to wear and tear, and also does not age with time. Land plots will not lose their original value.

In order for a mortgage to be completed, it is necessary to fill out all the documents correctly. In order for such contracts to generate collateral legal relations, all documentation must be in the prescribed legislative forms. If you take into account many other legal relations, then the forms established by law may not be observed. In the final result, the concluded contract will be terminated.

Mortgage to a land plot is formalized only in full compliance with the current legislation and in a legal form. In this case, the subject of the contract is the mortgage or real estate, therefore it is necessary to carry out the identification process. The event begins with the indication of a specific type of real estate. When the land is registered, it is necessary to specify its location or to attach it to a specific location.

What areas can be bought with the help of mortgage lending?

The main object of mortgage lending is a land plot, but certain requirements must be taken into account. It is forbidden to buy plots that are in shared ownership. Lending is also not subject to land that belongs to government agencies or municipal services. Mortgage for the purchase of a land plot can not be formalized in the event of the withdrawal of land from state contracts. Before taking a mortgage, it is necessary to consult with qualified specialists who have the appropriate education and work experience. They know all the established laws and other requirements for the design of mortgage lending.

What if there are buildings on the site?

When a mortgage is drawn up for the purchase of a land plot, special attention is drawn to the availability of buildings or other structures. If the site has buildings on its territory, then the mortgage extends to all facilities. One can single out the principle of indivisibility of plots and all located buildings - this is obtaining permission from the state and the availability of legislative acts. All the key points must be prescribed and indicated in the loan agreements. It will be necessary to pay special attention to such a factor: all buildings must be put into operation and arranged in private ownership. The order of registration and use of buildings must be regulated by the current legislation.

Features of registration of a mortgage on a land plot in a banking institution

Today, there are a lot of features that relate to lending to land. The following provisions can be singled out:

1. Borrowers have the full right to engage in the construction of facilities on sites. In this case, there is no need to notify the bank that issued the mortgage. As an exception, it is worth highlighting the cases that were stipulated in the concluded agreement.
2. When a mortgage is drawn up for a land plot, banks are entitled to all buildings that were erected during the validity of the loan agreement.
3. The territory can be taken into mortgage lending, when in the future it will be used for gardening and construction of houses and dachas.
4. The agreement on mortgage lending comes into force after registration of the state registration. This procedure is carried out exclusively on the land.

Terms of registration of land

The current legislation of the Russian Federation in January 2013 introduced a new law under the number 302, which has amended regulations for the registration of various agreements. The subject of the contract is a land plot. All adopted changes concern the state registration of mortgage lending to a land plot. It says about the established time for conducting the registration procedure.

A new version of Article 13 has been put into effect, which can regulate the timing of this procedure. From the moment the application is submitted, it should not take more than one month. Also in these terms it is necessary to provide other accompanying documents that will be required for state registration of land. But in some cases, the deadline for submission of documentation can be regulated by the current legislation of the Russian Federation. Registration of the mortgage of the land plot is carried out within fifteen days from the date of submission of all documents.

Land valuation

The agreement between the creditor and the borrower allows you to determine the collateral value of the land plot. The collateral price is the total value of the property, which later appears in the loan agreements. Thus, it is possible to guarantee repayment of funds from a banking institution. This may be required in the event that all obligations relating to the repayment of the loan were not fully met.

Assessment and mortgage for the land includes the following characteristics, as well as sections:

• Definition of the purpose and category of land.
• Total area of the territory.
• Collection of documents that grant the right to further ownership of land. It is necessary to specify the exact period of the contract.

What points need to be taken into account during the estimated value of the land?

During the evaluation, a mortgage agreement is concluded for the land plot, where special attention is paid to such factors that characterize all the advantages and disadvantages of the location of the property. There are such requirements:

• Precise indication of the location of a site.
• Full description and administrative division of towns and cities.
• Clarification of the name of administrative regions.
• Full and detailed description of the prestige of the place where the land is located.
• Is there a distance from the city center.
• Access to public transport.

The specialists undertake to evaluate the market value of the plot to be drawn up, and also to make a future forecast of possible changes during the crediting period.

Procedure for obtaining mortgage lending

During the process of obtaining a loan for land, the borrower may not provide a deposit to the bank. The mortgage of land parcels implies a detailed and most thorough examination of the requirements that can be presented to a particular plot.

After the bank approves the object of lending, experts recommend carrying out an appraised value and signing a mortgage insurance contract. The Borrower has every right to refuse certain types of insurance, as well as from the signature of complex contracts. An important criterion that can affect the provision of a loan by the bank is the availability of infrastructure near the land plot. It also takes into account the supply of electricity, gas, water and the presence of a traffic junction. When issuing a mortgage, a special role is played by the total size of the land plot and its possible remoteness from the city center. Land plots that can not be provided for lending:

• Earth, which is used for industrial purposes and military needs.
• Land plots owned by several owners.
• Areas of municipal destination.
• Territories that are designated for nature reserves.
• National park area.

Where is the best place to buy a plot of land in a mortgage?

Today, there are a large number of institutions and banks that offer their clients the opportunity to use the service of mortgage lending. Banks do not issue loans for land plots that are in shared or joint ownership. Mortgage lending can be issued only to the facility that belongs directly to the borrower.

If the territory is owned by legal or physical entities, the bank has the full right to require consent from each individual owner. It is in this case that a mortgage can be issued and formalized for a land plot. Sberbank today is engaged in lending and providing a mortgage for its customers. But during registration of this procedure, each person should as accurately as possible study all the subtleties and features of a mortgage on the land. In this case, you can rely on legal aspects and guarantees of formalizing the agreement.

Subtleties of registration of the pledge contract

Agreements that are concluded during mortgage lending must be executed solely in writing. The registration process is carried out in a certain order, which was established by the current legislation. If the contract contains such important points as the subject of the mortgage and its final evaluation, then the mortgage of the land plots will be formalized. Land law implies the totality of all necessary legal norms that can regulate the relations of use and protection of land.

A correct and accurate assessment of the land plot can be carried out exclusively by professional appraisers. A prerequisite is the existence of monetary expression, which can not be lower than the cost of the inventory.