Is it possible to get a mortgage using a power of attorney

Filing an application

The collection of documents can also be transferred to the shoulders of the representative. Filling out certificates and waiting in queues is a long and exhausting task. You do not have to contact the BTI, Rosreestr and similar organizations in person, provided that you register a representative office in these organizations in a power of attorney.

It is better to submit an application with documents to the bank in person. An authorized representative can do this, the documents will be accepted and the application will be sent for consideration. However, the likelihood that it will be approved is minimal. You will pay the mortgage, so your presence is important to the bank employee. No one would want to give money to someone unknown. Therefore, you will have to find time for this procedure.

What to do?

Does it make sense to resort to the help of an intermediary and draw up a power of attorney? You decide. They will not be able to complete the registration procedure for you, even if they want to. And positive developments are only possible with your direct participation. How can you solve the issue over time?

Take time off from work. You can easily visit all organizations, prepare documents, and go to the bank as many times as necessary. No nerves, no rush, no panic. The process of applying for a mortgage will not only not lead to depression, but will also allow you to relax and unwind. At the same time, you will avoid expenses associated with issuing a power of attorney and paying for the services of an intermediary.
Check with your bank about the availability of partners. There are organizations that constantly provide document preparation services to bank clients. This guarantees an initially positive attitude of the credit institution towards you, while you will be spared many of the difficulties of the procedure.

When concluding an equity participation agreement (SPA), there will also be significant time expenditures. First, you look for a suitable option, contact the organization carrying out the construction, discuss the details of the upcoming transaction with the developer, and sign the contract. But that is not all! The agreement is subject to mandatory state registration. If there are many shareholders and registration is carried out simultaneously, then you risk losing at least half of your working day. After completion of construction, in order to register ownership of the property, you will also have to apply to Rosreestr.

Registration of the agreement

To simplify the procedure in practice, developers issue a power of attorney to register an equity participation agreement. The sample agreement is finalized and signed by you, clarifying and explaining all the nuances, and the developer draws up the agreement in Rosreestr using a power of attorney, the sample of which is standard. It specifies the powers of the representative office of the construction organization employee to draw up the contract and the right to sign it when filling out the application. Once the contract is properly executed, the document loses its force. The power of attorney should be studied in detail and, if questions arise, revoked after registration is completed.

What types are there?

A power of attorney is the general name of a document that authorizes an attorney to carry out transactions on behalf of the principal. However, depending on the type of permission, the rights of the holder differ - the most common forms of power of attorney are:

banking - is issued free of charge, allows you to withdraw, deposit money, receive statements, the list of services is limited;
notarial - broader powers, you can pick up a debit card, terminate a contract, close accounts, withdraw money from the card (without having it in hand) and much more;
certified in another way (at the consulate, at the local administration, at the place of duty) is equivalent to a notary.

Be that as it may, a power of attorney does not allow you to perform some operations - you cannot use it to get a loan from SberBank, pick up a credit card, or apply for a mortgage. Here, the presence of the institution’s client directly is required.

Samples of completed notarized and arbitrary powers of attorney

Registration of ownership

Upon completion of construction, the apartment must be registered as ownership. Registration of ownership of an apartment takes about a month or longer.

The construction organization itself usually issues a technical passport for a new building, which is produced at the BTI. Draws up and signs acts of acceptance and transfer of real estate assets with local authorities, as well as documents for its commissioning. Registers the house. Simultaneously with the cadastral registration of the house, cadastral numbers are assigned to individual premises. Without these documents, registration of ownership of the apartment is impossible.

Banks with favorable mortgage conditions

Amount: from 200 thousand to 99 million rubles.
Rate: 6 – 14.5%.
Duration: up to 25 years.
Down payment: from 10%.
Approval based on two documents.
Registration for 1 visit to the bank.

More details

Amount: from 300 thousand to 30 million rubles.
Rate: 6 - 11.5%.
Duration: from one year to 30 years.
Age: 21 - 75 years.
Down payment: from 15%.

More details

Amount: up to 26 million rubles.
Rate: 6 - 12.75%.
Duration: from one year to 30 years.
Age: 21 - 65 years.
You can arrange housing with redevelopment.
Approval without down payment.

More details

Amount: from 600 thousand to 50 million rubles.
Rate: 8.9 - 13.29%.
Duration: from one year to 30 years.
Age: 21 - 70 years.
Down payment: from 15%.

More details

Amount: from 500 thousand to 30 million rubles.
Rate: 8.8 - 11.9%.
Duration: from 3 to 30 years.
Age: from 21 to 65 years.
You can get a mortgage without a down payment.

More details

Amount: from 300 thousand to 30 million rubles.
Rate: 7.9 - 11.75%.
Duration: from one year to 30 years.
Age: from 23 to 70 years.
You can get a mortgage without a down payment.
They will approve a mortgage even if you have 2 existing loans.

More details

Amount: from 600 thousand to 60 million rubles.
Rate: 6 - 11.1%.
Duration: from one year to 30 years.
Down payment: from 10%.
You can attract up to 4 co-borrowers.
You can confirm your income with a bank certificate.

More details

Amount: from 100 thousand to 60 million rubles.
Rate: 9.12 - 13.5%.
Duration: up to 30 years.
Age: 21 - 75 years.
Possible without a down payment.
You can attract up to three co-borrowers.

More details

Amount: from 500 thousand to 60 million rubles.
Rate: 5.4 - 10.2%.
Duration: from one year to 30 years.
Age: 20 - 65 years.
Down payment: from 10%.
Review of the application from 1 working day.

More details

Amount: from 300 thousand to 50 million rubles.
Rate: 8.9 - 12.5%.
Duration: from one year to 30 years.
Age: 18 - 70 years.
You can apply without a down payment.
Approval from 1 day.

More details

Amount: from 500 thousand to 30 million rubles.
Rate: 8.7 - 14.45%.
Duration: from 5 to 30 years.
Age: 18 - 65 years.
Down payment: from 10%.
They accept income certificates in the bank form.

Is it possible to obtain a mortgage using a power of attorney?

The law does not prohibit taking out a mortgage by proxy, however, banks do not always approve such a transaction due to frequent cases of fraud. Even if you can get the bank’s consent, you should not transfer the right to sign. The authorized representative will have the right to collect documents and submit an application, but you must draw up all the necessary mortgage agreements in person. Banks are more loyal to the purchase and sale of an apartment under a general power of attorney.

For example, the management of Sberbank has a contradictory attitude towards completing a transaction by proxy, both on the part of the seller and the buyer. Employees ask the borrower to be present in person at the conclusion of the mortgage agreement. The attitude towards the seller is more loyal, but a power of attorney certified in notarized form is required.

Power of attorney for spouse to obtain a mortgage

The law provides for the possibility of one of the spouses issuing a power of attorney to the other spouse to issue a power of attorney for registration of a mortgage.

It must indicate that the husband/wife has the right to sign the mortgage agreement on behalf of the second spouse; otherwise, the general rules for drawing up the document apply.

As in other cases, you should find out the position of a particular bank regarding the use of a power of attorney for a mortgage.

Housing under a mortgage can be sold by proxy, provided that permission is received from the banking organization.

Some banks' agreements provide for a ban on the alienation of property until the moment when the debt to the bank is fully repaid.

When carrying out this type of transaction, the main condition is that first of all the bank must receive the balance of funds from the amount paid by the new owner. Then the encumbrance on the living space is removed, and the buyer gets the opportunity to state registration of his rights to it with the relevant authority.

In a contract for the purchase and sale of an apartment with a mortgage by power of attorney, three parties are involved: the buyer, the seller, and the creditor organization (bank).

The form of such agreements is developed by the bank’s legal specialists. Some organizations also provide for the preparation of preliminary agreements.

The purchase and sale agreement with a mortgage contains the same basic clauses provided for by civil law for a regular purchase and sale agreement, with additional clauses relating to the registration of a mortgage and the procedure for transferring housing as collateral to the lender.

It must be taken into account that each creditor organization has the right to make its own adjustments to it.

In addition to the general essential conditions for this type of agreement, it is necessary to specify the following points:

The procedure for transferring money. This is due to the fact that banks have various programs for issuing such loans, which provide for individual terms for payment of the transaction (at the time of signing the agreement, after state registration, etc.).
Availability of additional costs. In some cases, banks charge fees associated with the transfer and withdrawal of money, so the parties should regulate the manner in which these costs are incurred.
The period when the housing will be transferred so that the property transfer procedure does not drag on for an indefinite period of time.

Buying an apartment by proxy involves certain risks. Here are the main ones :

The possibility for a citizen selling an apartment to revoke a power of attorney at any time, without notifying the attorney himself. This will entail consequences in the form of invalidity of the transaction;
Possible death of the person who issued the power of attorney. An agreement signed on the basis of such a power of attorney will also not be valid;
The incapacity of the principal or fiduciary will entail similar consequences;
Forgery of power of attorney.

There are other pitfalls, and in order to get around them, the best option would be personal communication with the owner.

What documents are needed?

To apply, you will need the following documents:

Russian Federation passport.
Certificate of marriage or divorce.
Certificate of income - 2-NDFL.
Employment history.
Child's birth certificate.
Another document that proves your identity, such as a driver's license.

Subsequently, you will need to provide the bank with documentation for the property: a purchase and sale agreement, a technical plan, a cadastral passport, a certificate confirming the absence of an encumbrance.

Procedure for obtaining a mortgage by power of attorney

You can buy an apartment by proxy in the same way as directly. The procedure for obtaining a mortgage loan differs only in one important point - the execution of a power of attorney. It is drawn up at a notary's office. Only after receiving this document will the bank work with you as with a real borrower.

You need to coordinate the selected property with the bank, submit all the necessary documentation, resolve issues with property insurance, as well as life and health. An initial deposit will be required.

As for the direct execution of the mortgage agreement and the purchase and sale agreement, it all depends on the bank’s policy and whether you have the authority to sign papers on behalf of the borrower. If this is allowed, then you sign all the documents and submit them to Rosreestr for further registration.

Sample power of attorney to purchase an apartment with a mortgage

It is unnecessary to remind that the bank’s lawyers will carefully study the power of attorney and all documents of the representative and have the right to refuse the transaction if there are certain comments on the documents. To verify the authenticity of the power of attorney, the bank's security service can send a request to the notary office that issued the document and to the owner of the property.

The danger is represented by the possible written approval by the principal of a transaction of a trusted person made in excess of his powers or the law. Transfer of authority to a shared construction agreement Such a power of attorney is issued to the construction company constructing the future apartment and is standard for all construction organizations.

We recommend reading: Legalize smovol construction of non-residential premises

What difficulties may arise?

First of all, the difficulties are related to the fact that the bank’s condition when applying for a mortgage is the personal presence of the borrower during the transaction. You run the risk of immediately being denied a loan, without even getting to the point of signing agreements.

You can contact a company that cooperates with the bank and is involved in obtaining a mortgage. This will increase the chance of the deal being approved. But even with the help of a partner, it will not be possible to complete the entire transaction without personal participation.

It will not be possible to avoid problems with obtaining a mortgage using a power of attorney. It is best to immediately ask the bank whether it will agree to such a deal. If employees have doubts, there is no need to waste time and money; it is better to arrange everything yourself.

Mortgage loan in another city with temporary registration

The presence of temporary registration increases the chances of approval of a mortgage loan in another city. Thus, financial organizations in Moscow are actively issuing mortgages to nonresidents who have managed to register at their place of residence. The fact is that there are quite a lot of visitors in the capital who subsequently want to finally move to the city and acquire real estate.

However, not all banks are willing to cooperate with citizens who have temporary registration. Sometimes loans are issued under more stringent conditions. Such a decision is associated with additional risks for the company.

Reviews about mortgages

Sergey Petrunov:

“My work involves constant business travel, so it’s difficult to arrange a mortgage myself. I decided to write a power of attorney for a friend, submitted an application to Sberbank and VTB24, and received a refusal. I went to investigate and they said that power of attorney is often refused. I had to go on vacation and formalize everything personally.”

Marina Voronkova:

“A mortgage is a good way to purchase housing. I took out a loan 5 years ago from VTB24, the conditions are excellent, I pay without problems. She completed everything herself, although she wanted another person to do it by proxy. But they immediately made me understand that the risk of refusal was high.”

When applying for a mortgage, potential borrowers are always faced with a lengthy collection of a terrible package of documents. Indeed, with the help of a single application you will have to convince the financial organization of its own solvency. Because of this, today there is particular interest in mortgages by proxy. In a similar way, a person wants to save time, although this is not always possible.

Mortgage in another city at VTB

VTB Bank also cooperates with individuals who want to borrow money to buy an apartment in another city. To apply for a mortgage you must:

Submit an application to the VTB territorial office and provide a package of documents. Among them must be documents confirming solvency.
Wait for a positive decision and open an account.
Provide a down payment. It can be placed as a separate deposit or on an account. Then the client will have to issue a power of attorney to the bank. On its basis, representatives of the financial organization will be able to manage the amount of the down payment. The action must be completed in order to grant the company the right to transfer funds to the account of the real estate seller.
Find a suitable apartment and decide on the transaction scheme.
Insure real estate, as well as life and health.
Close a mortgage deal in another city. To do this, you need to visit a bank branch and sign the documentation.

Is it possible to get a mortgage by proxy?

One of the main questions from potential bank clients is the possibility of transferring rights to collect documents to third parties. The legislative framework stipulates such conditions, so financial institutions rarely refuse applicants. In many cases, the family has no other choice, since they want to move as soon as possible, and visiting all the necessary government agencies takes too much time.

True, there are several problems that you still have to face. These are exactly what credit brokers remind you of, suggesting that you need to deal with the package of documents yourself. Often only this approach guarantees consent from the bank. What surprises are we talking about?

Mandatory presence during the transaction;
Lack of last signature rights;
Credit commission ratio.

Practice shows that paperwork is almost never carried out without the presence of the borrower. For this reason, experts suggest always refusing the services of third parties. However, families continue to turn to real estate agencies, which promise an unprecedented simplification of the entire procedure. Let's take a closer look at the main difficulties of the process.

Mandatory presence during the transaction

Today, banks set strict requirements for all contracts. It’s not surprising that they often don’t even talk about mortgages by proxy. Their conditions stipulate the mandatory presence of the future borrower at the conclusion of the contract. It should be noted that even the seller of apartments appears constantly in such transactions, since he is an interested party.

Even though financial organizations in such cases often remain only a third party, but without their funds it is impossible to purchase an apartment. Because of this, people have to respect their wishes in order to receive the required translation. Moreover, legally this approach is 100% justified. The fact is that there are often scammers in the real estate market, so no one will apply for a loan without a personal signature.

Lack of last signature rights

It would seem that people hand over a complete package of documents to trusted persons, and also agree to the collection of additional certificates. However, no notary will undertake to transfer the right of the last signature. Judicial practice too often encounters scammers, so even professional realtors advise taking the last step yourself.

It is important that a personal signature is also required in certain government agencies. Yes, the presence of the necessary documents confirming identity and trust speaks volumes, but the citizen must come on his own. Accordingly, this issue also poses an obstacle that cannot be quickly overcome.

Credit commission ratio

In addition, a person can also come in person to register property rights, but banks interrupt such transactions at an early stage. Some financial institutions immediately refuse potential borrowers who wish to submit an application through an intermediary. For this reason, there is no point in contacting them, since the result will still remain zero.

No, of course, any visitor is able to insist on his rights and submit an application. However, a friendly smile on the face of a bank representative will hide the exact awareness of a future refusal. Because of this, a person will only waste time pointlessly waiting for the entire package of documents to be verified.

How to obtain a power of attorney for banking transactions from a notary?

An alternative way to obtain it is to contact a notary, who issues extended powers of attorney to carry out any transactions (not only banking). To register, follow these steps:

Visit any notary (the region of the Russian Federation does not matter).
Provide proof of identity.
Provide the passport details of the authorized person.
Specify the account number for which the authorization will be valid.
Pay for the service and pick up the power of attorney.

The cost of registration is set by each notary independently - on average, the service costs from 2,000 to 3,000 rubles, the price depends on the region.

It is important to know!

How to use a power of attorney?

If the applicant still does not have free time, he should contact a partner company of a particular bank. In this case, the attitude of representatives of the financial organization will not change at all, which means that most of the documents will be prepared in advance. This option is offered everywhere today, so you can think about it seriously.

Every bank has partners who inspire confidence. Their work is based on assistance in obtaining a mortgage, so it is worth looking for a suitable organization. Even if third parties interfere in the purchase and sale transaction, this should not bother absolutely anyone.

Drawing up a power of attorney for mortgage lending is generally considered a waste of money. In any case, personal presence will be required when receiving individual documents and signing contracts. However, this possibility remains, as it is specified in the legislation of the country.

In what life situations is a power of attorney required?

The need to obtain permission to carry out banking transactions by third parties is not required so often, at least for the average person. However, the document will be useful in a number of cases:

if the account holder is seriously ill, a relative will be able to withdraw money, for example, for treatment;
the citizen has left for another country where there are no Sberbank branches;
the spouses plan to maintain a joint account opened in the name of the husband or wife;
holder - a person who does not have sufficient financial literacy (an elderly parent, grandmother, etc.), you do not want to be deceived;
the owner of the funds works a lot and does not have free time to visit the office.

It is also necessary to entrust cash withdrawal to a third party in a number of other cases, when a SberBank client cannot carry out transactions independently and entrusts this task to a loved one.