Reduced rates on existing Sberbank mortgages in 2021

How to reduce the mortgage interest rate at Sberbank

A few years ago, a mortgage loan was issued at 13-15% per annum, but now the rate is about 10%. Of course, large amounts of payments cause dissatisfaction among Sberbank’s old clients, but the situation can be improved by revising the previously formalized procedure for debt payments.

The bank values ​​the contribution of each client, therefore it agreed to change the percentage of overpayment on the mortgage in the specified amounts

• Taking out personal insurance will help reduce the percentage to 10.9%;
• Insurance against accidents and damage to health will reduce interest to 11.9%;
• For those clients who took out a mortgage secured by existing real estate, the interest rate will be up to 12.9%.

If the mortgage was issued under other Sberbank programs, the interest on it can also be reduced subject to a number of factors that have a positive impact on the consideration of the case.

• all loan payments must be made on time;
• the loan balance is not less than 500 thousand rubles;
• the loan was issued no earlier than 1 year from submitting the application;
• There have been no changes to the terms of the mortgage before.

Other good reasons for changing the amount of mortgage payments under Sberbank programs are:

• participation of the borrower in government loyalty programs that provide benefits;
• emergency situations not specified in the contract, which resulted in a significant deterioration in the financial situation of the client who took out the mortgage;

For each of the presented options, the bank can change the terms of mortgage payments through the following operations:

• use of preferential social programs;
• refinancing;
• loan restructuring;
• legal proceedings regarding the terms of the contract.

All these options will help to legally ease the terms of repayment of a mortgage loan, but it will be up to the banking organization with which the agreement was drawn up to choose which option will be optimal given the borrower’s situation.

Current rates and latest reductions

Sberbank is the only state banking structure in Russia. At the same time, Sberbank is considered the most reliable lender in the entire banking sector of the Russian Federation, this is due to the maximum degree of coverage (extensive network of branches) and participation in government programs for vulnerable segments of the population.

Sberbank has always been a powerhouse in the mortgage business. It occupies more than 50% of the mortgage market in Russia. Other competing banks are closely monitoring his actions and trying to respond.

On June 9, 2021, Sberbank carried out its third reduction in mortgage interest rates this year. The rest of the banks followed suit. You can find out the current interest rates on mortgages at Sberbank today from this table. But already in October 2021 she grew up.

Contrary to the promises of government officials, the reduction in mortgage rates is not enshrined in law. Banks independently regulate this process. As a result, since 2015 there has been a decrease in the rate from 1.5 to 5%. The reduction is insignificant, but if you calculate the overpayment for the entire loan period, the amount turns out to be quite impressive. Since the beginning of 2021, according to AHML, the interest rate has decreased by 1.2 to 1.5%, and in 2021 an increase of 0.5-1% is planned.

In light of recent events, mortgage borrowers who previously took out a mortgage at 13-15% are asking a legitimate question: can Sberbank reduce the mortgage interest rate? Let us try further to address this issue without illusions.

Refinancing

This option for re-issuing a loan agreement implies its complete revision with the selection of more convenient mortgage terms for the client.

Regarding Sberbank’s operating policy, its employees do not refinance their own clients, considering the possibility of performing this service only in the case of loans for the purchase of household items and loans for cars for clients of other financial organizations.

In some cases, it is possible to consider an application for refinancing on an individual basis. In most cases, the initiation of refinancing ends positively if the client submitted an application to the bank where he took out a loan to purchase real estate.

Conditions for reducing interest on loans under the refinancing program

A mortgage application is submitted in full compliance with the basic requirements of the program:

• the loan is issued only in rubles;
• the minimum amount for a loan eligible for refinancing is 300 thousand rubles;
• the maximum amount is 7 million rubles, but not more than 80% of the cost of housing;
• repayment period - up to 30 years;
• refinancing just one mortgage.

When submitting an application, you must provide a passport and the documents listed above.

Online application for DomClick to refinance a Sberbank mortgage

You cannot submit an application through Sberbank Online directly from the official website; this can only be done on the DomClick portal.

This requires:

• go to the official website of the service;
• in the upper right corner “Login to your personal account”;
• register through Sberbank Online.

After confirmation, you must fill out an application for refinancing:

1. Submit an application through the DomClick portal section.
2. In the loan purpose column: select “Refinancing”.
3. Enter all mortgage information. Choose a convenient repayment term, taking into account the size of the monthly payments.
4. Proceed to fill out the application. Some fields of the questionnaire will be filled in automatically when registering through Sberbank Online.
5. Enter information on the remaining points in full accordance with reality, attaching the required package of documents.
6. After checking the data, you can send an application to Sberbank.
7. All that remains is to wait for the bank's decision on refinancing the mortgage. Application processing takes from 2 to 5 business days.

If the answer is positive, you need to select suitable housing and begin the registration procedure.

Restructuring

Unlike refinancing, loan restructuring is carried out more often and includes the execution of an additional mortgage agreement within the framework of a previously executed loan agreement in the same bank where the basic agreement was drawn up. Reducing the bet size can be achieved by one of the following manipulations:

• increasing the term of the mortgage;
• registration of deferred payments;
• changing the payment regime from monthly to quarterly;
• individual payment schedule;
• registration for the period of promotions in the bank “credit holidays”.

The overpayment on the mortgage in this payment mode will still remain, but will be much less noticeable for the client due to smaller amounts of debt payments.

Find out if you can shorten the mortgage term after closing the deal

How to lower your interest rate before signing a mortgage agreement

If you are just applying for a mortgage from Sberbank, immediately pay attention to the dependence of the rate on the terms of the loan. Try to reduce the interest rate as much as possible by complying with the lender's conditions. How to reduce the interest rate on a Sberbank mortgage

:

• registration of a financial protection policy for the borrower - 1%;
• choosing an apartment on the DomClick portal - 0.3%;
• down payment over 20% - 0.2%;
• have a Sberbank salary card - 0.5%;
• purchasing an apartment from a developer-partner of the bank - 2%;
• young family - 0.4%;
• lack of documents on employment and income +0.8%.

You can reduce the mortgage interest rate at Sberbank by using housing certificate funds as a down payment. Such loans are issued on preferential terms.

Another situation also happens when the client has already been approved for a mortgage at Sberbank at a certain percentage and is given a deadline to apply for the loan. During this period, the bank launches a profitable promotion or reduces base mortgage rates. It turns out that the future borrower takes out an approved loan at a higher interest rate than new bank clients.

In this case, you can issue a refusal according to the current decision of Sberbank and submit all the same documents again for consideration (). If the lender's response is positive, the client will be able to get a reduced interest rate. Otherwise, he will be rejected, because previous approval does not guarantee an affirmative answer to the new application.

Recommended article: Mortgage for a young family under the state program in 2021

Social programs

Since the economic and social situation in the state became much more difficult in 2015, banking organizations launched a special program to facilitate mortgage payments. After some time, payments for the project were frozen due to a lack of funds to finance the program, but from mid-2017 they resumed again with the following conditions:

• payment debt can be reduced by 20-30%, but not more than 1.5 million rubles;
• payments from foreign currency can be transferred to the ruble version;
• the payment period is extended by 1.5 years with a reduction in the loan rate or repayment of the principal debt.

Social programs operate only for certain categories of the population that are characterized as financially unstable or requiring additional benefits. These include:

• parents with children under 18 years of age or guardians of minor children;
• citizens with disabilities;
• parents of full-time students;
• participants in military conflicts.

Maternity capital will help reduce the size of regular mortgage payments. This option of government support is suitable for repaying debt for those families who already had a mortgage at the time of the birth of the child. Obtaining such a certificate will help families with children.

Reduction options

If it just so happens that citizens took out a mortgage at Sberbank according to standard conditions (at that time), then you can look for an alternative to reducing interest rates. It is immediately worth noting that only those borrowers who have not made delays in payments have such a chance. Naturally, if the client has a penalty, then writing it off does not constitute a reduction in the loan rate.

Ways to reduce the mortgage interest rate at Sberbank:

• restructuring;
• reduction of the rate upon application;
• by revising the terms of the contract in connection with a court decision.

The presented options for lowering the rate are absolutely legal. However, no one can give a 100% guarantee that it will work and the mortgage will become cheaper. In each case everything is individual.

Rate reduction upon application

The best option. It allows you to reduce the rate on an existing Sberbank mortgage without unnecessary consequences for your credit history and further refinancing of the mortgage or participation in special government programs such as, for example, a 5% mortgage. The conditions of which are a restriction on reducing the mortgage rate for those borrowers who have undergone restructuring.

To what rate can they be reduced:

• Up to 9% - if the existing mortgage was issued with insurance and you also enter into a new contract with financial protection for the health and life of the borrower;
• 10% – if the original contract provided for life insurance, but in the new contract, after the rate was reduced, you abandoned it;
• Up to 10% - if your agreement did not previously have a clause on life insurance for the borrower;
• 10-11% – if a non-target mortgage was issued secured by real estate (11 if insurance is refused).

The rate can be reduced repeatedly, but usually the bank sets a limit of one year between acts of interest reduction.

At the same time, in order to obtain approval for a reduction in interest, Sberbank sets certain requirements:

• The mortgage must be paid on time without delays;
• The loan was issued at least a year ago;
• There was no restructuring;
• The remaining debt is at least half a million.

The application can be submitted in two ways:

1. Through a Sberbank branch
2. Via the Internet on the DomClick website using this link.

The period for consideration of an application for a rate reduction at Sberbank is thirty days.

A more profitable option to reduce the rate is to contact another bank and conclude a mortgage refinancing agreement. Some bankers today offer to draw up an agreement on favorable terms (from 9% per annum) and even allow, in addition to this, to take out an additional loan. Such operations are aimed at attracting customers. However, it is worth understanding that such a mortgage will be encumbered; the collateral is the real estate itself. In addition, refinancing involves collecting a full package of documents. However, sometimes Sberbank employees, learning about the possible loss of a client, make concessions to him and still revise the current terms of their contract.

Restructuring

A more problematic step is debt restructuring. Such measures provide for the re-conclusion of the contract, and this information will also be displayed in the BKI, which may have a negative impact further.

Previously, we examined in detail how mortgage restructuring occurs at Sberbank and what options for this operation are possible.

According to restructuring it is possible:

• change the mortgage currency to rubles;
• extend the term - the total term increases, the rate is not reduced, the monthly payment is reduced, the overpayment increases;
• make a deferment for a certain period (6, 12, 24 months) - for the period of deferment, minimum payments are paid, the overpayment increases.

In this case, the borrower must have good reasons for these actions, namely:

• Dismissal, reduction or significant reduction in salary;
• Conscription into the army for military service;
• Decree;
• Health problems that limit the ability to continue working.

The restructuring procedure is as follows:

1. A package of documents is provided to the bank;
2. The bank makes the decision;
3. New documents are signed.

At the same time, you can apply for mortgage restructuring at Sberbank both online and at a bank branch.

Separately, it is worth considering the restructuring of mortgages with the help of the state. Borrowers of Sberbank and a number of other banks have the opportunity to write off mortgage debt up to 1.5 million rubles. By taking out a mortgage before April 2015, you will have access to the mortgage borrower assistance program, which we described in detail earlier.

Re-registration of the contract in court

A legal claim from the borrower can be filed only if the interest on payments was unreasonably raised and the bank client was not warned about this. That is, the plaintiff can present to the court a gross violation of the mortgage agreement.

A court decision can only benefit the client if loans are issued to unverified organizations.

Sberbank pays great attention to the legal part of drawing up contracts and discusses with the client all possible nuances of the case before signing agreements. When starting legal proceedings with the bank, the client must remember that his obligations to repay parts of the loan remain valid and must be carried out within the established time frame, otherwise there is a high risk of a fine and further problems with credit transactions.

Is it possible to reduce the interest rate on an existing mortgage?

Expert opinion
Irina Bogdanova

Work experience at Sberbank for 12 years.

It is impossible to reduce the interest rate on an existing mortgage, since the law does not provide for the possibility of changing the terms of the loan after signing the agreement.

But Sberbank offers alternative options that reduce the credit burden on the borrower during financial problems:

1. Restructuring is an opportunity to change the terms of an existing mortgage with Sberbank. After proper restructuring, the debt burden will decrease due to an increase in the loan repayment period.
2. Refinancing is a program aimed at helping clients with a mortgage from another bank in Russia. The financial burden will be lower due to more favorable conditions for the borrower. I also call it “re-mortgage”.

The only program that allows you to directly reduce the mortgage percentage directly at Sberbank was closed on September 11, 2018. All those who managed to submit an application before this date can only check its status through the DomClick portal.

As of today, it is impossible to apply for a reduction in the interest rate on an existing mortgage with DomClick. However, it is possible to apply for mortgage refinancing to other banks, for example:

Restructuring

Restructuring allows you to improve the existing conditions under the current loan agreement. The program is needed to reduce the size of the payment, without directly changing the current interest rate.

Sberbank offers clients three mortgage restructuring options:

1. Change of currency - a dollar mortgage can be converted into a ruble at a more favorable rate.
2. Changing the loan term - by increasing the loan repayment period, the amount of monthly payments is reduced.
3. Providing a deferment is a grace period with a short-term reduction in monthly payments.

Arguments for formalizing a restructuring program for the purpose of subsequent recalculation of payments:

1. Decrease in income (dismissal, salary reduction, etc.).
2. Conscription for compulsory military service.
3. Maternity leave to care for a child.
4. Partial or complete loss of ability to work.

Main stages of debt restructuring:

• collecting the necessary package of documents;
• read the terms and conditions and submit an application;
• upon satisfaction of all bank requirements, obtain approval;
• sign a restructuring agreement.

​

For registration you will need:

1. Passport of a citizen of the Russian Federation (its copy).
2. Certificate confirming income for the last 3 months (not required in case of dismissal).
3. A document confirming the absence of permanent employment.
4. Application for maternity leave.
5. A notarized copy of the employer’s order to change the terms of remuneration.
6. Notification of upcoming layoffs.
7. Application for registration with the employment service, indicating the amount of benefits received.
8. Certificate confirming incapacity, disability, death.

You can apply for recount at the bank office or online on the official website of Sberbank. After logging into the system using your phone number, you must fill out all fields of the application form according to reality and attach scanned copies of the required (at the first stage) documents to the application.

Refinancing

Refinancing is a program that allows you to profitably change the terms of repayment of a mortgage taken out from another bank.

List of banks to which it is profitable to refinance a Sberbank mortgage

Stages of registration:

• collection of necessary documentation;
• filling out an application at the bank’s office or on the official DomClick portal https://ipoteka.domclick.ru/ (review from 2 to 4 days);
• after approval, provide the original documents to the Sberbank office within 3 months and conduct an assessment of the mortgage housing (3-5 days);
• sign an agreement to receive a loan at 12.9% to pay off debt in another bank, the interest rate is reduced by 2% after passing all stages (at the final stage it is 10.9%);
• repay a mortgage from another institution and obtain a certificate of no debt; this must be done within two months after receiving a loan from Sberbank;
• a certificate must be sent to Rosreestr in order to remove the encumbrance from the property;
• apply for a mortgage at Sberbank and submit documents with the manager to Rosreestr to register the transaction; after processing the request (10-30 days), the rate will be reduced by 2%.

The last 3 points must be completed within 60 days so that the bank does not begin the procedure for collecting the issued loan. If the borrower does not meet the deadline, he has the right to apply for a deferment.

The borrower has the right to simultaneously refinance loans from other banks, but in this case, funds are issued in two stages:

1. First. Loan to pay off a mortgage.
2. Second. After refinancing a mortgage loan, the remaining funds are issued to cover other existing financial obligations.

Documents for an alternative reduction in the interest rate on a loan or credit through the DomClick portal:

1. Application form for refinancing.
2. Passport.
3. Document confirming income and work record.
4. Existing mortgage loan agreement.

It should be taken into account that refinancing will require costs:

• registration of insurance policies;
• expenses for registration and valuation of real estate.

Therefore, it is important to calculate your own benefit.

The calculation in the table was carried out at the rate before the reduction of 12.5%.

Let's consider an example: the borrower's mortgage debt is 3 million rubles for 7 years. At Sberbank, the interest rate was reduced by 2%, as a result, he will save 38,400 rubles in a year, and 268,800 rubles for the remaining period. Thus, the total benefit will be 231,300 rubles over 7 years.

Application documents

Before applying for a reduction in interest on a loan, you should collect the necessary list of supporting documents and certificates, which includes:

• certificate from the State Register of Real Estate;
• mortgage agreement;
• certificate of income of the borrower;
• a certificate from the bank about the balance of the debt.

The documents are submitted to the bank where the first agreement was drawn up and after reviewing the application, the client receives a document with new payment terms and deadlines for liquidating the loan.

How to find out the decision on applications for rate reduction submitted earlier

Sberbank provides every borrower with the opportunity to learn about rate reductions:

1. You can check the status of an interest reduction application submitted to DomClick by calling the hotline 8 (800) 7709-999, giving the operator your personal number, full name or application ID.
2. Find out the status of the application to reduce the mortgage percentage through DomClick from Sberbank. By clicking on “Check request status”, the system will redirect the client to the DomClick portal, where you need to enter a phone number.

Reduced mortgage rates for the birth of a child

Since the issue of improving the demographic situation in the state directly depends on the living conditions of young families, a loyal lending system for married couples after the birth of a child was introduced in 2011.

A reduction in the mortgage loan rate is associated with the birth of the first, second and third child, subject to several conditions:

• the age of the borrower couple is up to 35 years;
• no more than 15 square meters are allocated for each family member. m.

In addition to applying for a reduction in the amount of loan payments, you can use maternity capital to ease the loan. The certificate, which is issued at the birth of the first child, allows you to significantly reduce the loan rate when applying for a mortgage loan from Sberbank, and the capital assigned with the birth of the third child allows you to completely repay the debt amount.

Reducing mortgage interest through the court

Perhaps the most difficult way to reduce your mortgage rate is to go to court. This option can only be justified in two cases:

1. If Sberbank does not lower the interest rate, although such a condition is stated in the text of the loan agreement. At the same time, the borrower, for his part, fulfilled all the requirements.
2. Irregularities were identified in the work of the credit institution. For example, the interest rate was set incorrectly and does not correspond to the conditions of Sberbank at the time of applying for the loan.

Recommended article: Mortgage in Sberbank at the birth of a second child

If you decide to use this method of reducing mortgage interest rates at Sberbank, you need to contact a qualified lawyer. Pay attention to his experience in handling similar cases, because they have certain specifics. In addition, the bank will have a whole staff of specialists on its side, solving similar problems on a daily basis.

If during the judicial review a violation on the part of the creditor is revealed, the interest rate will be reduced. In addition, the financial institution will have to recalculate all interest that the client has already overpaid. In practice, the legal department of Sberbank tries not to bring a case to court, especially if it is obviously a losing one. There is a chance that the issue will be resolved peacefully at the pre-trial stage.

If the borrower's rights have not been violated, you should not count on satisfaction of the claims.

If you did not manage to reduce your mortgage interest through DomClick during the promotion period, try contacting Sberbank on a different basis. As a last resort, it makes sense to consider the option of refinancing with another bank. However, this method of reducing the mortgage rate is not always justified. Especially if you have already paid off most of the loan, because the overpayment on it is unlikely to decrease.

Other options for helping families

In addition to maternity capital, families under 35 with children can count on a number of loan concessions:

• Writing off part of the debt - with the birth of each subsequent child, Sberbank writes off debt equal to the cost of 18 sq.m. housing, and the birth of a third heir allows you to fully repay the loan debt;
• Deferment - for the first child you can get a mortgage extension for 3 years, and with the birth of the third baby - up to 5 years;
• Subsidy - allows you to repay loan payments with funds from both maternity capital and regional social programs to support young married couples.

Question answer

Are there social programs to reduce interest rates?

Sberbank does not have such programs. However, the borrower can relieve part of the loan burden by using maternity capital. Also, if you meet the basic requirements, you can become a participant in the mortgage subsidy program.

Is it possible to go to court?

It is possible, but only if the bank fails to comply with its direct obligations. In other cases, it is better to contact the customer support center by phone. In a difficult financial situation, Sberbank will always meet borrowers halfway.

Where can I apply for a mortgage interest rate reduction?

There is no sample for filling out an application at a Sberbank branch, since the interest rate reduction program has been eliminated.

To reduce your credit burden, you can submit an application for refinancing or restructuring your mortgage.

What is needed to reduce the amount of payments through DomClick

You cannot directly change the loan interest rate, but you can apply for a rate reduction through DomClick through debt restructuring.

Is there mortgage indexation at Sberbank?

Mortgage indexation is a myth! The good thing about a mortgage is that the amount is fixed in rubles, and then no one cares what happens to the ruble - just pay yourself interest for the reporting period and the next part of the remaining debt.

What do we have to do

To receive a reduction in mortgage rates due to the birth of a child, you need to collect documents according to the established list, which includes:

• Marriage certificate;
• parents' internal passports;
• child's birth certificate;
• maternal certificate;
• loan agreement;
• certificate of debt balance;
• documents confirming the ownership of real estate.

With all the papers, you need to contact the regional authorities and submit an application for compensation. If the decision is positive, the bank will consider repaying the mortgage debt.

Reasons for reducing rates

Current borrowers are disappointed because they took out more expensive loans, and the agreements have already been signed and changes in conditions are provided only in exceptional cases. A team of qualified lawyers is working on bank loan agreements; the document will have legal force after it is signed by both parties.

Important! The loan agreement specifies cases of changes in conditions. The bank does not have the right to increase the current rate if this is not specified in the agreement (for example, linking the rate to Mosprime, etc.). The bank can lower the rate, but this is its right, not its obligation.

The borrower has the right to submit an application for a possible reduction in the mortgage interest rate , but the final decision will be up to the bank. By the way, you are required to accept the application for review; refusal in this case is unlawful.

Possible reasons for reducing rates are identified:

• the client became a participant in one of the government social programs offering benefits.
• Mortgage rates have dropped significantly on the market.
• On-lending is possible due to the deterioration of the borrower’s financial condition or other circumstances not provided for in the agreement.

You shouldn’t place your hopes on a rate cut, as this will significantly reduce the bank’s profits. Therefore, particularly compelling reasons are needed to reduce interest rates.

Currently, Sberbank is reducing rates on existing loans to a maximum of 9%.

Credit conditions in 2021 for large families

From the beginning of the new year, families with 2 or more children receive a subsidy of 6 percent, which can be used to pay off debt on a housing loan in new buildings or in the process of refinancing an existing real estate loan.

The subsidy will be valid for 3 years for families with 2 children and will last up to 5 years if the couple has three children. Benefits received for 2 children can be extended for another 5 years if a third child is born in the family during the payment period, but with the condition that the addition to the family occurs before the beginning of 2022.

Refinancing through another bank

When refinancing through another bank, you need to calculate the benefits, since you will have to incur the same costs that you had when applying for a mortgage loan.

For example, you took out a loan for a period of 15 years and its amount is 2 million rubles, at an interest rate of 15%. The overpayment in this case will be RUB 3,038,514. But if you can get a loan even 1% less and at 14%, then you will already overpay 244,246 rubles. And for this money you can already buy a used car.

If your financial situation has improved

For example, a situation may arise where a family's income has increased and it may allow them to contribute more money each month. If you recalculate the loan, taking the data from the example above (2 million rubles for a period of 15 years at 15% per annum), then in just one year you can save 243,659 rubles. At the same time, the amount of monthly contributions will increase by 549 rubles. (The SB calculator was used for calculations).

In order for the bank to recalculate the terms of the loan, you will need to submit an application with evidence of income that has increased. It could be:

• certificate 2NDFL;
• an order that you have been promoted;
• document on the assignment of a pension or benefit;
• a certificate confirming receipt of additional income and other evidence.

A similar principle can be used for early partial repayment of a loan. In this case, excess funds can be redirected to reduce the size of the regular contribution or the term. Reducing the term gives more benefits because more of the debt will be repaid than interest.

To understand how the early repayment system works, you need to look at the payment schedule and analyze the ratio of interest to the amount of principal debt. When the term decreases, the ratio will increase towards repayment of the loan. And when the payment decreases, the ratio remains almost unchanged.

Court case of overestimation

If the bank violates the clauses of the agreement (when they are assigned commissions and increase interest rates), all decisions of the financial organization can be challenged in court. But for this you will have to use the services of a good lawyer, because the bank, when making such a decision, tried to find a legal justification for its actions.

But while court proceedings are ongoing, since this process will be long, you should not stop repaying the loan. Otherwise, you automatically become a violator of the conditions, and the court will have grounds to refuse you.

Restructuring of the loan agreement

A way to reduce the price of a mortgage product is possible, for example, by reducing the repayment period. You can also reduce the rate if you repay part of the loan early. It is possible to amend the contract not only on these points, but also on other issues of obligations. The main positive point in this option for the client is a significant change in the interest rate. But achieving this is not entirely easy, and first of all, you will have to submit an application to the bank to change the loan parameters.

The restructuring procedure, in fact, is not a re-registration, but the conclusion of a new agreement with Sberbank. To reduce the debt burden, you will have to go through the collection of documents and the application review process again. The application will have to be accompanied by papers proving an increase in income or other justifications and guarantees of payments. For example, you can present a personal income tax certificate-2, an order for promotion and other similar documents.

The same applies to partial repayment of the loan ahead of schedule. By paying a significant amount at once, you can either shorten the terms of the mortgage agreement or reduce monthly payments. In the first case, the amount of the return should be greater than the accrued interest, and this is the most profitable. The system of repaying long-term loans with a one-time payment will be clearer if you study the payment schedule. Usually, when the term is shortened, the amount of interest is reduced. If the amount of contributions decreases, this change will be insignificant.

Bank credit departments review mortgage agreements from the point of view of minimizing risks for themselves. Therefore, if the policy of a financial institution and the nature of the agreement concluded with it allow changing its terms, then this should be used. The borrower should sign up for a consultation with a Sberbank specialist, and only then submit the appropriate application.

Professional support will be helpful if you need to correctly calculate the reduction of overpayments and select new conditions. There are usually no restrictions on the use of the concluded agreement. If the borrower regularly makes payments and has no arrears in recent years, then changing the mortgage will be a simple formality.