How long does VTB 24 take to consider a mortgage application?

At VTB Bank, mortgages using two documents are issued by people who are unable or unwilling to obtain a certificate of income. Most banks in Russia require that the applicant be officially employed and have documented income. But there are categories of citizens who need their own housing and cannot prove their income. Now this is not a problem thanks to the specially developed “Victory over formalities” program. VTB Bank provides a mortgage using two documents: a passport and SNILS. This speeds up the registration procedure and brings the moment of approval closer.

What does a mortgage on two documents mean?

This is a special offer, profitable and convenient in a situation where it is impossible to confirm your income level. There is no need to waste time collecting a complete package of documentation. A passport of a citizen of the Russian Federation and SNILS is enough. Everyone has these two documents and is always at hand. The application review procedure is shortened, which saves time. A mortgage from VTB is a way to spend it on yourself and your loved ones, and not in line for certificates, extracts, certified copies.

Question to the expert

Is it true that they will not require anything other than a passport and SNILS?

This is really enough to make a positive decision on issuing a VTB mortgage. By the time the contract is signed, it is necessary to provide the purchase and sale agreement and technical documentation for the property.

How long does approval last if a mortgage is issued at VTB on the basis of the documents?

The decision on approval is made within 24 hours. This leaves four months to finalize the mortgage. During this time, it is necessary to come to an agreement with the seller, sign an agreement with VTB, and make a down payment.

VTB 24 programs

You can find out more about the terms of the mortgage on the website. If we talk about the possibility of using two documents, then VTB has one program available - “Victory over formalities”. Characteristic features are:

1. Issuance upon presentation of a passport and SNILS.
2. Simplified approval and registration scheme.
3. Opportunity to purchase finished housing (new buildings, resale).

Additional offers are also available for citizens, such as mortgage refinancing. Anyone can contact VTB with a request to reissue a loan taken from another bank. The result is favorable repayment terms, a loan in rubles, the possibility of early repayment, a lower interest rate, and a changed repayment period.

How to get a mortgage at VTB 24?

In fact, the scheme for obtaining a mortgage differs from the standard one only during the period of collecting documentation, since everything necessary is already there. Therefore, the step-by-step instructions look like this:

1. Make a preliminary calculation of the monthly payment using the VTB online calculator.
2. Submit an application to the bank. This can be done in person or remotely. Clients use their personal account.
3. Wait for approval. A corresponding notification will be sent to the phone number and email specified in the application.
4. Provide information about the property you plan to buy with a mortgage. Sign an agreement with the seller.
5. For loans with collateral, an additional condition is comprehensive insurance of the property, as well as the life and health of the property.
6. After completing an agreement with the bank, make a down payment. The rest of the amount will be transferred by VTB.
7. Re-register ownership. Get an extract from Rosreestr. Please note that the property will be encumbered while the debt is repaid.

If you do not pay the required mortgage payments, VTB, based on the agreement, will charge a penalty in the amount of 0.8% of the balance of the debt. If the borrower does not repay the resulting debt, VTB has the right to seize the property for the purpose of selling and repaying the arrears on the mortgage.

Stage 2. Final approval

Here, a personal visit to the bank is mandatory; a specialist will accept your package of documents and check their authenticity and relevance. How long does it take to process a mortgage application at VTB at the stage of studying all the documents?

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The bank will do a full check and analysis of your data. The final decision takes 3-5 days - this is what the bank promises. But how long does it actually take to get a mortgage approved at VTB? Often the period can be seriously delayed if some problems arise. Let's understand the nuances of the process.

What does the bank check?

The bank checks the borrower in several areas. The bank's credit and legal services and security services participate in the verification. What's important:

• An important point in the VTB mortgage approval status is the state of the applicant’s credit history (CI). If the CI check during scoring was successful, then the bank specialist will additionally check the presence and nature of delinquencies and other parameters of previous loans;
• information about the applicant’s income for the last six months (), as well as the existence of obligations to confirm income and expenses, are very carefully checked;
• the bank can make requests to the Pension Fund, the Migration Service, the Tax Service, the Bailiff Service (data on writs of execution and unpaid fines);
• The bank's security service uses special customer databases to check the borrower's data, the accuracy of income certificates (), information about the employer, the borrower's criminal record, information about the seizure of accounts, and others.

A thorough check may take up to 10 days, and if errors or inaccurate data occur, the period may be significantly delayed. Therefore, there is no clear answer to the question - how long does VTB Bank consider an application for a mortgage?

Why is a long review possible?

The bank assures that the decision will be ready in 3-5 working days, but most often this period is longer and can take 3-4 weeks.

Why does VTB take a long time to consider a mortgage application:

• depends on the client's status. It takes literally one or two days for a salary client to be approved, since the bank knows his income and reliability. For other clients, the scope of the review can significantly increase the time required to prepare a solution;
• The approval period may be extended for clients wishing to receive a loan of more than 500,000 rubles. There will be additional checks here;
• the deadline may also be delayed for applicants who use the services of appraisers or insurers not accredited by the bank;
• The type and quality of the documents submitted are important. If there are expired certificates, incorrect data, errors or typos in documents, this can lead not only to an increase in the decision period, but even to a refusal (the validity period of mortgage certificates is in another article);
• the already mentioned credit history of the borrower will also seriously affect the approval period;
• The purchase of real estate in another locality may also affect the approval period.

The difference in approval times also depends on the chosen mortgage program.

The borrower can receive approval within 24 hours if he chooses an exclusive program based on two documents Victory over formalities.

How to find out the status of an application for a VTB mortgage

The standard response option from the bank is an SMS message to the phone number you specified when filling out the application form. If the solution is ready, the client will know about it immediately.

But if within a week you have not received a decision on your application from the bank, it’s time to act and find out the status of your VTB mortgage application yourself. What options exist here:

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• you can call the bank's phone number 8-800-700-24-10;
• leave a request to customer support. The application form can be found on the website;
• you can call the manager who helped you fill out the form (if you have his phone number);
• Log in to VTB Online Internet banking. You can enter your login and password, go to your personal account and there you can see if the solution has come to the specialists.

The answers to the question - how long does VTB consider an application for a mortgage - are interesting in customer reviews on social networks and forums. Opinions, of course, are different, but many are dissatisfied with the long wait.

Deadlines for re-submitting a mortgage application (if your application is rejected)

If you receive a refusal from VTB on your mortgage application, do not despair. The attempt can be repeated, but when? And how many days does VTB review the mortgage application again? This usually takes about the same time or a little less (if there are fewer checks).

The bank has set a deadline for re-application. After refusal, the client has the right to re-apply for a VTB mortgage after 90 calendar days.

Do I need to reapply?

You may be lucky and the bank will change its credit policy during this period.

Let's give an example . The bank refused you a mortgage because you were in arrears on your previous loan. A little later, the bank changes its credit policy, and a small delay in the previous loan becomes acceptable. And when you resubmit your application after 90 days (even without changing or improving anything), it may be approved, since your slight delay is already acceptable. But this is a happy accident.

How to increase your chances of approval

In general, banks are not obliged to explain the reasons for refusal and usually do not try to do so (). The borrower can only try to understand what exactly led to the refusal.

The following actions are usually recommended to increase the likelihood of mortgage approval at VTB:

• improve your credit history. For example, take out small microloans several times and carefully pay them off;
• attract guarantors, co-borrowers with a high stable income;
• provide documents confirming the client’s additional income;
• increase income (basic salary or additional income).

If you have not found the reasons, you do not understand why you received a refusal, you can turn to the services of credit brokers.

If you are refused again, you can contact another bank, since banks have different credit policies.

Mortgage with a reduced package of documents

When applying for a loan, the applicant agrees to pay fees that include interest at an inflated rate when compared with standard mortgage programs. The return period is minimal. Having enough money to pay a contribution of 20% (see below for details on how to apply), the applicant undertakes to insure the collateral property and his own life and health. For a refinanced loan, the final terms are negotiated individually. Refinancing with an increase in the repayment period is also possible.

Mortgage program “Victory over formalities”

This is a special offer developed for borrowers who are unable to document their income, as well as for those who are unemployed, receive an unofficial salary, etc. It is enough to have a civil passport and SNILS. If the applicant meets the bank’s requirements, the loan will be approved within 24 hours after submitting the application. All that remains is to sign the agreement, make a down payment and repay the debt on time. This scheme saves time because it does not need to be spent on exhausting documentation collection.

Bank conditions

The abbreviated registration procedure requires acceptance of the following conditions:

1. Loan term (years) from 1 to 20.
2. The available amount for Moscow residents is from 600,000 to 30 million rubles.
3. The maximum for other regions is set at 15 million.
4. The down payment to VTB is at least thirty percent.
5. The insurance is comprehensive and covers the home and the borrower.
6. Those who refuse to take out insurance overpay at a rate of up to 11.7% per annum.
7. For those who have issued a comprehensive policy, the interest rate is up to 10.7%.

VTB provides for the possibility of reducing the interest rate under certain conditions, which will be discussed in the corresponding section of the article.

The money is returned according to the annuity scheme. This means payment in equal monthly installments throughout the contract period. Partial or full early repayment is not prohibited at VTB.

Requirements for those wishing to receive a loan under a simplified scheme

The minimum age of the applicant is 25 years. Total work experience – from one year. A guarantor is not required. But this will increase the chances of getting bank approval. A co-borrower is also welcome. This could be a spouse, parents, children, other family members and relatives. Russian citizenship is mandatory, as is registration on the territory of the Russian Federation. Maximum age is 65 years. Before it matures, the loan must be fully repaid. If the borrower is a man under 27 years old, in addition to a passport and SNILS, a military ID will be required.

Possible reasons for refusal of a home loan

The bank may have many reasons for refusing, but the client will never know why exactly the bank refused to issue a mortgage to the borrower! Since, according to the Civil Code of the Russian Federation (part two) dated January 26, 1996 N 14-FZ (as amended on May 23, 2016) of the Civil Code of the Russian Federation, Article 821, the bank is not obliged to explain the reasons for the refusal.

So, what reasons could there be for refusing a mortgage at VTB 24?

1. The reason for refusal may be a small official salary, which is why the bank will under no circumstances issue a mortgage, even if you have a large, but mostly “gray” income.
2. Failure to meet the basic conditions of the borrower, for example, you will only be 21 years old, but if the age limit is clearly stated in the conditions, then it is better to wait.
3. The requested amount is too large, the bank may not refuse, but consider an alternative, based on your average monthly income and calculate your mortgage loan limit yourself.
4. Having a bad credit history with numerous late payments and, even more so, malicious evasion of your credit obligations, can perhaps erase any good information about you as a borrower.
5. Debt under existing loan obligations.
6. Spouse's maternity leave. Oddly enough, for the bank this is truly a serious obstacle, since the income lasts for all family members, and if the spouse does not work, she will have no income, even if she is involved as a co-borrower.
7. The place to work does not inspire confidence. If you work as a shawarma seller, it is quite possible that you may be denied a mortgage loan because they will consider your place of work to be a little frivolous.
8. The bank may refuse you if you have your own property, but you do not pay utility bills, this means that it is not a fact that this will not happen with a mortgage.
9. Children. If you are the only breadwinner in the family, your wife earns little, but you have five children, you may also be refused, because your family’s income will be taken into account for the children first of all. This means that in total you will have nothing left for your loan obligations to the bank.
10. Criminal record. It can also influence a favorable outcome, even if it happened a long time ago.
11. Your appearance.
    It seems stupid, but, as they say, “they are greeted by their clothes, but they are seen off by their minds” - first of all, what people pay attention to is how a person looks. There is a small amount of doubt that if you came to the bank in shorts and flip-flops, this will have a favorable effect on the bank’s decision or they will not notice it. Maybe, but it’s still better to play it safe by dressing in a business style, as is expected in banking institutions.

Now you know why you may have been rejected for a home loan.

Don't be surprised if the bank turns you down. There are probably some points in your application that do not satisfy the creditors.

Calculate your mortgage using a calculator

A preliminary calculation is necessary to compare the family budget with the obligations under the loan agreement. VTB has developed a special service that allows you to accurately determine the amount of monthly payments. For this purpose, the initial data is:

1. The cost of purchased residential real estate in rubles.
2. The amount of the down payment (minimum 30% of the housing price).
3. Monthly income (official and unconfirmed).

VTB will calculate the repayment period itself. It will be 20 years. It can also be installed manually if you plan to repay the debt as quickly as possible. The result of the calculation is the monthly payment, interest rate, repayment period assigned by VTB.

Calculation example

Let's say that there is an apartment worth 5.5 million rubles. Your own funds are enough to pay for only two. The total income of the borrower and co-borrower (husband and wife) is 55 thousand rubles. after entering this data into the calculation form, it turns out that VTB will issue a loan at 8.9% per annum. In this case, you will have to pay from 31,266 rubles monthly. By default, the calculation takes into account a return of 20 years. If you change it manually, the amounts will change. Therefore, everyone will be able to choose the best mortgage option in order to pay off the debt as quickly as possible and become a full owner of a home without encumbrance.

After a preliminary calculation of mortgage costs from VTB, the mortgage will become clear in terms of the monthly financial burden during the period of repayment of loan funds. Keep in mind that initially, in addition to the down payment, you will have to spend money on insurance.

Who will VTB approve a mortgage: requirements for borrowers

Applications from applicants working in the Russian Federation are accepted for consideration. In this case, registration and citizenship do not play a special role. When negotiating a mortgage, the main focus is on the applicant's income and credit history.

Important! The total work experience is at least 12 months; in the last place, the client must work for at least six months.

To increase the likelihood of approval of the transaction, financial support from co-borrowers is allowed. VTB allows you to call one, two or more guarantors. The following are considered reliable co-borrowers: solvent children, parents, common-law spouses, sisters, brothers and other close relatives.

The procedure for approving a mortgage at VTB 24 is very simple. The stages of processing and approving a home loan at VTB are standard. The decision whether or not to issue a mortgage is made after submitting an application and analyzing the solvency of the borrower and co-borrowers.

Conditions and details of simplified mortgage

The final overpayment depends on the interest rate, size of payments and repayment period. Before signing an agreement with VTB, you must read all the terms of the agreement, including clauses on early repayment. In addition to the annuity return scheme, a differentiated return scheme is also available, but this is discussed individually when discussing the details of the transaction with employees of the VTB credit department. Involving co-borrowers and guarantors increases the chance of approval of the application. Life and health insurance is the basis for reducing the interest rate.

Required documents

This service is provided if you have a passport of a citizen of the Russian Federation. It is important that the applicant has permanent registration. In this case, the passport itself must be valid. You will also need SNILS, and for men under 27 years of age you will also need a military ID. When signing a contract, it is advisable to have additional identification with you. This could be a foreign passport, driver's license, service pass, etc. VTB will also require papers characterizing the object of the transaction. You will need technical documents for real estate and an assessment report from an independent commission (an accredited specialized organization).

How to apply for a mortgage using 2 documents?

You can come to the VTB office in person. Then you need to have originals and copies of primary documents (passport, SNILS) with you. The application form will be provided by a bank employee. He will also help you fill out the fields correctly. If you do not have the opportunity to waste time traveling, queuing and communicating with clerks, use the online form available on the website. Here you can calculate how much you will have to pay, and under what conditions the bank is ready to issue a loan. VTB clients submit applications in their personal account, which also contains all the tools and a form to fill out. It is enough to log in to the system using your login.

For those who are in another city, the VTB smartphone application is a way out. Download, install, run. Log in, go to the loans (mortgages) section, fill out the form fields, submit a request for approval.

How to fill out the application form correctly?

It is important to provide all required information. VTB will reject a request if the application form does not contain:

1. Last name, first name, patronymic of the borrower.
2. Personal data according to SNILS.
3. Type of residential property.
4. The cost of the purchased living space.
5. The size of the down payment.
6. The level of total income of co-borrowers.
7. Deadline for repayment of mortgage debt.
8. Contact details for feedback.

Use the tips, and if necessary, seek a free consultation by phone, email, or online. Please upload a scan before submitting. copies of documents and double-check that they are filled out correctly.

Maxim Lokosov

Mortgage lending expert - former head of the mortgage division of a large federal bank.

Ask a Question

It is important to avoid mistakes and typos. VTB is not obliged to notify applicants of the reason for refusal. Providing contact information is required. The approval notification can be seen in your VTB Bank Online personal account, SMS, push message, as well as in a letter sent to the applicant’s email.

What can affect the bank's consent?

First of all, when considering your application, pay attention to:

• Age of the borrower (VTB 24 Bank issues mortgage loans from 21 years of age).
• Place of your permanent registration (if you apply for a mortgage using two documents, you have the right not to write such information, as this is provided for by this program).
• General work experience (at least one year).
• Current work experience (at least six months at the current place of work).
• Position at your workplace.
• Average monthly salary level.
• Additional income, if any.
• Your marital status, since if you have a spouse and children, the income will be divided among everyone.
• Availability of other loan obligations.
• Your credit history.
• Do you own any real estate? If you want to get a mortgage from this bank using your real estate as collateral, read this article.
• The amount of the down payment that you can provide (is it possible to take out a mortgage without a down payment at VTB 24 and under what conditions?).
• The reliability of your organization in which you work and its scope.

This information plays a big role for the bank!

Maximum loan amount

It is established in accordance with the region where the mortgaged housing is located. If VTB receives a request to purchase an apartment or house in Moscow and the Moscow region (MO), up to 30 million rubles are available. In addition to the Moscow region, VTB set the same limit for St. Petersburg and Leningrad Region. In other areas the bar has been reduced to 15 million rubles. This is due to the characteristics of the real estate market and the income level of the population. VTB gives a minimum of 600 thousand to everyone who meets the bank’s requirements.

Interest rates

The standard, average mortgage rate from VTB is 9.8%. If an apartment is registered in a new building, and the total area exceeds 100 square meters, the percentage will drop to 8.6%. If the client is insured, the overpayment does not increase. Refusal to take out a policy is a reason to increase the annual rate by +1%. Refinancing is another service of VTB Bank. The mortgage will be reissued at 9%, and it will have to be paid in rubles, which completely eliminates the risk of losses incurred as a result of instability in the foreign exchange market.

Mortgage insurance

Each object purchased with the money received as part of the loan is insured. This is necessary in case of force majeure, when the property is damaged or has become unusable. The costs of restoration will be covered by the insurance company. Another type of policy is individual, when money is paid if the borrower, due to certain circumstances, cannot pay the mortgage on his own. Comprehensive insurance is a way to lower the VTB interest rate.

To accurately determine the costs of irrigation design, you need to contact a consultant. You can personally come to the VTB branch and ask questions to the clerks responsible for providing mortgages. An alternative way is to use a special online insurance calculator.

Personal policy

This ensures that if you become ill or suffer an injury, your mortgage debt will not increase. All responsibility for the mortgage to VTB is transferred to the insurance company, which is obliged to repay payments in full until the borrower becomes able to work again. The decision on payments is made on the basis of medical reports, where the debtor is assigned the status of a disabled subject. This may happen as a result of deterioration in health or due to harm caused by third parties, under other circumstances.

Collateral property policy

This is a mandatory type of insurance if real estate is purchased with a mortgage. VTB will not approve a mortgage application if the housing is not insured against damage as a result of natural disasters. The full list of coverage is extensive. Compensations are paid in case of fire, flooding, or actions of third parties that caused a decrease in the value of the property. Full compensation for losses incurred is expected, which should be stated in the insurance policy. VTB will recommend a partner company whose integrity is beyond doubt.

Title policy

This is a special type of insurance. In this case, property rights to the object are protected. This is protection, for example, from fraud. If there is a third party who has the right to claim the same, say, apartment, the insurer will bear all the costs associated with resolving the issue. This is possible in the case when an heir is declared who does not participate in the process of property distribution. He goes to court and seeks a review of the inheritance case. As a result, the purchase and sale agreement can be challenged. And the insurance agent will pay the plaintiff money to preserve the borrower's title.

VTB does not impose insurers, but only recommends. When applying for a mortgage, the applicant has the right to involve third-party organizations. The main thing is that they meet VTB requirements.

An initial fee

There is no maximum limit. Everyone has the right to independently determine the amount of the first mortgage payment. The only thing that VTB requires from mortgage applicants is that the payment should not be lower than 30% of the estimated value of the real estate being processed. This is 10 percent higher than in standard programs, but this is the only way VTB can protect its money in case of debt default or falling prices on the real estate market. The presence of liquid funds indicates the solvency and reliability of the borrower, which increases the chances of approval of the application.

Applying for a mortgage

It is very easy to find out a preliminary decision at VTB. The company has developed a simple online survey form that allows borrowers to quickly assess their chances of approval. You can proceed to filling out the application by clicking on the “Fill out application” button.

The form must display:

• Personal data: full name, year of birth, contacts, E-mail.
• Job information: employer’s tax identification number, income, length of service.
• Mortgage information: condition of the property being purchased, region where the property is located, down payment, housing price, repayment period.
• Passport details.

After filling out the application, click on the “Submit” button and wait for a response.

Applying for a mortgage at VTB 24