Is it possible to take out a loan secured by a share of an apartment without the consent of the co-owners?

Where can I get a loan secured by a share of an apartment? What determines the amount of a loan secured by a share in an apartment? How to urgently apply for a loan secured by a share in an apartment?

Owners of real estate shares have the legal right to sell, donate, exchange and pledge their property. Securing a room as collateral increases the likelihood of a positive response from the lender and improves overall lending conditions.

But such transactions have a lot of legal nuances that the average borrower has no idea about. This article will answer all questions on the topic of loans secured by a share in an apartment and teach you how to manage your property wisely.

Denis Kuderin is with you, financial expert of HeatherBober magazine. I will tell you how to quickly, profitably and correctly apply for a loan secured by shared ownership, and I will explain what requirements credit companies impose on such properties.

We take the best places and read to the end - in the final you will find an overview of reliable banks with favorable lending conditions, plus tips on how to speed up the process of obtaining a loan.

Loan secured by a share in an apartment - conditions and features of obtaining

Until recently, a share in an apartment was considered property with low liquidity. Banks and other credit institutions were not interested in such property as collateral.

But a few years ago the situation began to change. Financial companies responded to demand from the population with a counter offer. Now shares (rooms) are accepted as collateral not only by pawnshops and microfinance organizations, but also by quite reputable banking institutions.

To become a full-fledged collateral, the share in the apartment must be allocated. If you don't know what this means, I'll explain.

An allocated share is a share for which the order of use is officially (documented) determined. In other words, this is a specific room assigned to the owner. Or several rooms.

It will be problematic to register an unallocated share, that is, an abstract part of a specific property, as collateral.

It will be extremely difficult for a bank or other credit institution to seize such property and sell it if the borrower fails to fulfill its debt obligations. Lenders are interested in firm guarantees of the liquidity of the collateral.

If you do not know whether your share has been allocated or not, make a request to Rosreestr for the property you are interested in and receive documentary information about your rights as the owner. The service is paid - don’t say later that I didn’t warn you.

Banks have stricter requirements for rooms than for apartments.

Financial companies pay attention to the following parameters:

• the property is in demand in the housing market;
• there are no encumbrances or liens on the room;
• the share is officially owned by the client;
• the object is located in the coverage area of ​​the banking product;
• the room is suitable for living in - there are all necessary communications;
• the building itself is not in disrepair and is not subject to demolition.

Be prepared in advance for the fact that the loan amount secured by shared ownership will always be less than the real market price of the property . It is unlikely that you will get more than 50-60% of the cost.

Banking requirements for borrowers are standard - passport, second document, registration, income certificate, copy of work book or employment contract. Companies that do not have bank status are more loyal - 2-3 documents are enough for them, but the rates and terms of lending in such companies are completely different.

Pawnshops, microfinance organizations, investment and brokerage companies are not interested in credit history, do not waste time checking solvency, evaluate the property at their own expense, take almost any room as collateral, and generally promise clients a heavenly life.

But such conditions seem too attractive to me. The fact is that some of these companies make money not on loan interest, but on the mistakes of borrowers and their financial illiteracy.

If the loan terms are too good, check the status of the institution

Having taken a room as collateral for half or even a third of its real price , they wait for the client to delay, then impose fines and create other obstacles to the successful purchase of the property. The property is eventually transferred to the lending company, after which the company successfully sells it at full price.

Therefore, before dealing with such institutions, I advise you to check their status through all possible channels. A professional lawyer will help you understand how your potential partners earn money – whether they live honestly from interest or are engaged in cunning taking of real estate from the population.

Read the related article on the topic “Loan secured by a share in an apartment.”

How does registration work?

As practice shows, today it is possible to obtain a loan secured by existing real estate - an apartment or a private country house - with virtually no difficulties and minimal time expenditure.

It is much more difficult to obtain a loan secured by a share in an apartment, since the owner of such real estate will inevitably face a number of difficulties.

There are two ways to obtain such loans:

1. It involves registering a share of an apartment as collateral in order to obtain funds to purchase another share or the remaining part of the apartment. The second method is that the borrower, when purchasing an apartment, leaves the bank as collateral only a part of it commensurate with the loan issued.
2. Compared to the first, the second method of obtaining a loan will require much more time, part of which will be spent on collecting and completing the documentation necessary to receive money.

Required documents

From borrowers who decide to get a loan secured by a share in an apartment, the lending institution will require to collect a whole package of documents, which will include papers confirming ownership of the property, its footage, an approximate estimate of the market value, as well as certificates confirming the amount of regular income.

It will also be necessary to provide complete and reliable information about the citizens registered in the apartment. It is very important that among those registered there are no children under the age of majority, as well as disabled people and other incapacitated persons.

In addition, the bank may require photographs of the mortgaged property, as well as notarized copies of documents confirming ownership.

And this is where difficulties can arise. According to current legislation, such a document will be a Certificate of Ownership issued by Rosreestr.

However, such a document can only be obtained if the share is alienated, i.e. expressed in footage, geographically it can be one or more rooms for which there is a cadastral plan drawn up in the appropriate manner.

The borrower will also be required to conduct an assessment of the mortgaged property at his own expense.

The assessment is carried out by certified specialists; in their work they rely on a large number of criteria and parameters that allow them to give the most objective market assessment of the value of the share at the time of submitting an application for a loan to the bank.

A prerequisite for approval of the application is the conclusion of an insurance contract for the collateral object.

Difficulties

As mentioned above, obtaining a loan secured by a share in an apartment is associated with a number of difficulties.

So, to receive a loan, the borrower’s age must be no less than eighteen years and no more than sixty years, and the monthly payment cannot exceed more than fifty percent of official income.

In principle, these requirements are standard and do not go beyond the scope of the Federal Law “On Mortgage”, which sets out all the basic rules for registering a pledge of real estate or part of real estate for obtaining a loan.

One of the key difficulties in obtaining a loan secured by a share in an apartment is the low liquidity of the pledged property.

The bank considers the collateral provided by the borrower, first of all, from the point of view of its liquidity - how large the market value of the share is and how easy it will be to sell such collateral if the need arises.

And if, as a rule, there are no problems with the sale of an entire apartment or private house, then selling a share is most often very difficult and troublesome.

How to get an urgent loan for the unemployed is discussed in the article: loan for the unemployed. Read reviews about the Protect Finance company in the comments.

Drawing up a pledge agreement

The drafting of a pledge agreement follows the following procedure:

• according to clause 3 of Art. 339 of the Civil Code of the Russian Federation, the pledge agreement is concluded in writing and sealed with the signatures of the pledgor and the pledgee. A pledge agreement requires notarization only in cases where the agreement of obligation under which it secures requires this certification;
• when drawing up an agreement for pledging a share in an apartment, first of all, it is necessary to clearly state its parties - who is the pledgee and who is the mortgagor;
• then it is necessary to register all the data on the claims secured by the collateral - the type of loan agreement, the parties who signed it and its details;
• the subject of pledge in the agreement must be spelled out with special care - the specific type of property, its price, according to the assessment, as well as the main characteristics of the pledged property - address, footage, technical data, as well as documents confirming the mortgagor’s ownership of a share in the apartment are indicated ;
• The clauses that detail the rights and obligations of both parties are mandatory.
• special attention here should be paid to the fact whether the pledgor has the right to continue to use the pledged item, or whether it is transferred to the pledgee for safekeeping;
• You should also indicate whether it is possible to replace the collateral. If possible, it is necessary to specify the conditions under which this can happen and whether this requires the consent of the mortgagee;
• then it is indicated in what volumes the collateral secures the requirements;
• in addition, it is necessary to indicate which party is responsible for the safety of the collateral in the event of its loss or accidental damage;
• in the last paragraphs you need to specify the validity period of the pledge agreement, the procedure for terminating it or making changes and other conditions and details of the parties.

Sample pledge agreement.

Drawing up a loan agreement

To draw up a loan agreement, you must use the following tips:

• According to the Civil Code of the Russian Federation, the loan agreement must necessarily include clauses that specify the amount to be issued and the amount of interest imposed, as well as the amount of the monthly payment if the loan will be repaid in installments;
• in the event that money is issued without interest, this condition must also be stipulated in the loan agreement. The parties also need to indicate in the contract a specific deadline for the return of funds with possible penalties in case of failure to comply with the established deadlines;
• It should be noted that the conclusion of a loan agreement is regulated by current legislation and the fact that certain clauses are not specified in the agreement signed by the parties does not exempt them from complying with certain legislative norms. Just like a pledge agreement, a loan agreement is subject to registration with the Rosreestr authorities.

Sample loan agreement.

Conclusion and registration

After the pledge agreement is signed by both parties, it is subject to registration with the Rosreestr authorities. Documents for registration are provided to the service at the location of the apartment in which the share is pledged.

To complete this procedure you must provide:

• a properly executed application from the pledgee and the pledgor;
• the main agreement within the framework of which the pledge agreement was executed;
• the pledge agreement, amendments and appendices thereto, if any;
• Registration is a paid procedure; in order to complete it, you must pay a state fee.

What determines the amount of a loan secured by a share in an apartment - 3 main factors

A little warning. Bank loans can be targeted or non-targeted. The first option is preferable, and more money is issued for targeted loans. But in this case, you must provide the bank with evidence that the funds will be spent for their intended purpose.

This type of loan is worth taking out if you really intend to spend money on building or purchasing a new home. The ideal situation is when you take out a loan to purchase the remaining part of the apartment.

MFOs and pawnshops are not interested in your goals. But you shouldn’t count on particularly large loan amounts from such institutions.

The main indicator influencing the loan amount is the market value of the property . This parameter, in turn, is influenced by several factors. Let's look at the main ones.

Factor 1. The area of ​​the share and its ratio to other premises

In Moscow, rooms can cost a million, or 2-3, or even 5. If the room is bright, renovated, with an isolated entrance, there will always be people willing to take such a room as collateral.

The amount of the deposit directly depends on the area of ​​the share and its ratio to other rooms in the apartment. It is advisable that the area be no less than the other shares, and better if it is the largest room in the apartment.

It will not be possible to mortgage a room if it is located:

• in a communal apartment;
• in a wooden house or building with a wooden foundation;
• in a dilapidated building requiring major repairs or demolition;
• in a house built before 1975, if the case occurs in the capital.

A negative factor is the presence of minors among the owners or registered residents of the apartment. And in general, the more shareholders in the apartment, the worse it is.

Factor 2. Technical condition of the share and the presence of communications in the apartment

If the heating in the apartment does not work, the electrical wiring is in an emergency or non-working condition, and the room itself requires urgent repairs, such an object is unlikely to be of interest to a serious organization.

Factor 3. Location of the apartment

Poor location away from transport links and infrastructure also plays a role. If the room is located in a residential area on the outskirts of the city, there will be corresponding demand for it, or rather, none.

How to get a loan secured by a share in an apartment - 5 main steps

There are a fair number of owners of shared property in the Russian Federation, but only some banks work with such collateral. Other financial companies are more willing to make contact, but interaction with such organizations is always a risky and unpredictable undertaking.

To avoid mistakes and apply for a loan legally , use the expert step-by-step guide.

Stage 1. Selecting a company and submitting an application

Finding a good deal in banks is not an easy task, but it is quite feasible, especially for people living in big cities. Out of dozens of banks, there will probably be 2-3 institutions that will consider your option and make a positive decision on issuing a loan.

Use the search and comparison services for banking offers - Banki.ru and Sravni.ru. These resources save time and at the same time contain reviews from real users about the quality of service and current promotions in banks.

When choosing a bank, consider first the company whose services you already use. Banks provide individual conditions and lower interest rates .

If you live in a small town and you couldn’t find a bank with the required program, look for potential partners among microfinance organizations, pawnshops and other financial companies with an impeccable reputation. Don’t be overly trusting, don’t take anyone’s word for it, check the organization on the website of the Tax Service and the Bank of Russia.

Stage 2. Real estate valuation

You have the right to evaluate the property yourself. To do this, find a competent appraiser and order the service at your own expense. You will have to shell out extra money, but you will get an objective idea of ​​the price and a document confirming this.

If the appraisal is carried out by a lender, it is in his interests to underestimate the value in order to reduce his risks.

Example

You know that your room costs approximately 1 million rubles . A representative of the credit institution carried out an assessment and set a slightly different price - 700,000 rubles . But from this amount you will receive only 400 thousand according to the terms of the agreement (50-60%).

If for some reason you cannot pay the debt, the room will be seized and the debt will be paid off with the proceeds from the sale. It turns out that you lost your room for 40% of the real market price.

Stage 3. Collection of documents

I have already given a list of the borrower’s documents above.

You will definitely need real estate papers:

• a fresh extract from the Unified State Register of Real Estate – from 2021 it replaces the certificate of ownership;
• documents confirming that the property was acquired legally - purchased, inherited, privatized, donated;
• technical passport of the object - if you don’t have one, it will be made at the BTI;
• cadastral passport;
• certificate of absence of debts for utility services - debts should be closed in advance;
• extract from the house register;
• information about other owners and residents registered in the apartment - as well as the consent of other owners to manipulate the property.

If there is an assessment document, we attach it too. Banks will almost certainly require insurance for the property, but you have the right to choose the insurance company yourself.

Stage 4. Signing the contract

Each loan agreement secured by real estate is drawn up individually. There are no formal agreements . The document must be read before signing, preferably more than once.

The most important points of the agreement:

• final rate;
• the rights of the creditor and your rights;
• conditions for early closure of the loan;
• the presence of commissions for financial and banking transactions;
• conditions for calculating fines.

If any points seem dubious to you, you have the right to insist on their exclusion from the contract or changing the wording.

Large banks will not commit outright deception, but small credit companies with a dubious sign can easily concoct an agreement under which you not only will not receive money, but will also be left without a room.

And one more point: the loan agreement and the collateral agreement are different documents. And their purpose is also different. Check both agreements, preferably with the assistance of a professional lawyer. Lawyer, an online legal services service, can help you with this.

Stage 5. Receiving money and repaying the loan

Until you receive a transfer to your card or cash in your hands, do not relax.

In some microfinance organizations and pawnshops, they first issue an advance, then the rest of the amount. Make sure you get everything down to the ruble.

All you have to do is spend the money for its intended purpose and start paying it back according to the payment schedule. Be sure to keep payment documents that indicate when, for what and how much was paid. Avoid delays, use the safest and cheapest methods of transferring money.

Documents for completing a transaction

To successfully pledge an apartment to a notary, you must provide the following documents:

• documents establishing ownership of real estate or land;
• a certificate confirming state registration of ownership of the object;
• cadastral and technical passports of the property, extracts from the Unified State Register body;
• a report on the assessment of the value and condition of the pledged item, a copy of the loan agreement.

In addition, a pledge agreement is required, which is drawn up in writing - a total of 4 copies are required. The first is handed over to the notary for certification, the second remains with the pledgor, the third with the bank, and the fourth is sent to a special authority for subsequent state registration.

Where to get a loan secured by a share in an apartment - review of the TOP 5 banks

Mortgaging a room is not the fastest and far from the only way to borrow money from a bank.

If you need a relatively small loan in the amount of 200-750 thousand rubles , then it is more profitable to order a credit card. Such products have a grace period of 50 days or more, during which interest on purchases and withdrawals is not charged.

Our expert review of the five best banks in the Russian Federation will help you choose a company.

1) Sovcombank

Sovcombank offers loans secured by an apartment and any other real estate. The list of objects includes rooms, houses, cottages with and without plots, non-residential and commercial premises. Regular clients and pensioners receive preferential lending conditions.

Conditions:

• amount from 300,000 to 3 million rubles ;
• terms from 5 to 10 years;
• the collateral must be within the product's coverage area;
• the client must have permanent registration;
• The client must have a landline home or work telephone.

Base rate – from 18.9% per annum.

2) VTB Bank of Moscow

VTB Bank of Moscow – consumer loans for all occasions at a rate of 13.9% per annum. The maximum amount is 3 million rubles . Fill out the application on the website, wait 15 minutes for a response, if the decision is positive, take the documents and go to the nearest branch to sign the contract.

The list of beneficiaries includes doctors, teachers, tax and law enforcement officials, and working pensioners.

3) Tinkoff Bank

Tinkoff Bank offers to take out a loan quickly and without leaving your home. Order a credit card with a limit of 300,000 rubles and receive it by courier on the day you apply.

Grace period – 55 days. For every purchase - cashback up to 30% in points. Issue and delivery are free. Annual maintenance – 590 rubles . The base rate is 19.9% ​​per year.

4) Alfa-Bank

Alfa-Bank – special lending conditions for salary clients and persons who already have a current account. Consumer loans up to 3 million and above, as well as mortgage loans secured by existing housing. Mortgage rate – from 9.2%.

Several types of credit cards are available with a limit from 300,000 rubles to 1 million . To receive one, fill out an application on the Alpha website, wait for a response and receive the card at the nearest branch. This bank has record terms for preferential lending - from 60 to 100 days.

5) Renaissance Credit

Renaissance Credit – cash loans up to 750,000 rubles under 4 lending programs. There is a universal rule - the more documents, the more favorable the conditions.

If you need money quickly, get a credit card with a limit of 200,000 . and a grace period of 50 days. Get it same day at the branch closest to your home. The base rate is 24.9% per annum.

Comparison table of bank offers:

List of lenders issuing cash loans secured by a room or share in an apartment

Any movable and immovable property of the type can be considered as shared ownership:

• apartments;
• private house;
• land plot;
• car.

Shared property is classified into:

• Dedicated when a specific part is assigned to the owner. In this case, it will be easier to take out a loan.
• Unallocated, when the procedure for using part of the property is not determined. Banks are reluctant to give loans against such collateral, but you can get the required amount from an independent financial institution.

The loan is issued after checking the package of documents and subject to the following conditions of the transaction:

• The potential borrower must be of legal age at the time of application.
• The borrower must not be registered with a drug treatment or psychoneurological dispensary.
• All documents must be legal from a legal point of view.
• Shared property cannot be under arrest, mortgage or other legal encumbrance.

In rare cases, a loan may be denied if a minor child is registered in the common area.

If shared ownership is offered as collateral, then until the obligations are fully repaid, the borrower does not have the right to perform the following actions with his property:

• sale;
• execution of transactions for the alienation of shares;
• leasing without the consent of the lender.

Where can I get money secured by existing housing in Novosibirsk? Financial will issue a loan secured by shared ownership in the shortest possible time. We guarantee favorable conditions and an individual approach. Our employees will advise you on all questions that interest you, and they will help you choose the best loan option by calculating the amount of payments in the calculator.

As of October 1, 2019, MCC LLC Your Investor does not provide loans secured by real estate. You can get a loan secured by the title of your car.

Take out a loan secured by real estate

Applying for a secured loan takes a lot of time, since in addition to submitting an application and making a decision, it is necessary to evaluate the property and collect all the necessary documents. The borrower needs to be extremely careful and thoroughly study the loan agreement before signing it, otherwise, you may be left homeless and in debt.

We invite you to read: What are the risks of defaulting on a loan? What to do?

The object under these proposals is any real estate:

• apartment;
• room(share);
• apartments;
• House;
• part of a residential building with a plot of land;
• townhouse.

Sovcombank – up to 30,000,000 secured by a room or part of an apartment (house)

The lender offers various loan products, including those secured by existing real estate.
The list of properties suitable as collateral is quite large, so almost any borrower will be able to obtain the required amount. You can pawn a bank as a room in a communal apartment, or as part of an apartment or residential building. There are preferential lending conditions for pensioners, so they do not need to provide a certificate of income. Terms of the loan offer:

• the amount available for registration reaches 30,000,000 rubles;
• settlement with the bank must be made within 120 months;
• The interest rate for using credit money is from 18.9% per annum.

Zenit Bank – up to 20,000,000 secured by a room

A credit institution is ready to give the borrower a large sum of money as collateral for his or her existing real estate.
Security under the contract can be an apartment, a room, a residential building, apartments, or a townhouse. Funds can be received for any purpose that is not related to business activities. However, it is worth noting that the maximum loan size depends on the client’s region of residence - up to 20,000,000 for residents of Moscow and the region and 15,000,000 for residents of other regions of Russia. Credit terms:

• maximum loan amount up to 20,000,000 rubles;
• a loan is issued for a period of up to 180 months;
• the minimum interest rate is 9.9% per annum.

Solidarity Bank – up to 1,500,000 secured by any existing real estate, including a share or a room

Another credit institution that is ready to issue a loan secured by a share in an apartment or room.
The maximum loan size depends on the market value of the property, so before signing the contract, an appraiser visits the borrower to assess the value of the property. The interest rate on the loan depends on the activation of the insurance service. If the borrower refuses to insure the collateral, his final rate increases. The minimum borrower age for registration is 21 years. Terms of the loan offer:

• the maximum amount available for registration is 1,500,000 rubles;
• payment is made in regular payments over 84 months;
• The minimum loan rate is 15% per annum.

Non-targeted consumer loans secured by a share (room) are issued by a limited number of banks. However, if the borrower has no other way to obtain a loan, we recommend contacting the organizations listed above. But do not forget that monthly payments must be paid regularly and in full. If payments are made with a delay or stop arriving altogether, the mortgaged housing will remain the property of the bank and will be sold at auction.

How to urgently apply for a loan secured by a share in an apartment - 4 useful tips

The presence of collateral in itself speeds up the receipt of a response from the bank.

And expert advice will help you get a loan on more favorable terms.

Tip 1. Use the services of brokers

A professional credit broker knows EVERYTHING about profitable loans in your region. He is aware of the conditions in a particular institution and has established contacts with bank employees.

Such a specialist will find the most profitable option for you out of all possible, and, if necessary, will help you get a loan with bad “credit karma”.

The question is how to find an honest and truly helpful broker? A qualified specialist is looked for like a good doctor - based on recommendations. If this method is not available to you, focus on ratings, company status, and reviews on independent resources.

Tip 2. Take a private loan

Advice for those who have already been rejected by banks and other financial companies. A private lender does not care about your credit history; he will not require a bunch of documents to confirm your solvency. At the same time, the private owner issues money almost instantly.

Cons: risk of contacting a scammer, high interest rates.

Tip 3. Calculate loan terms using a loan calculator

If you want to save time, use loan calculators that are available on the website of any self-respecting bank and microfinance organization. This way you will immediately understand what awaits you and quickly select the most profitable option.

Tip 4: Consult with investors

Professional investors invest their funds only in profitable projects. But if necessary, they will help you choose an individual lending program that will speed up the loan process.

Investment companies, like private traders, are not interested in your credit history. Their guarantee is the property itself, which you do not want to lose.

A short video to help: