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МЕЖДУНАРОДНЫЙ НАУЧНЫЙ ЖУРНАЛ «ИННОВАЦИОННАЯ НАУКА» №6/2015 ISSN 2410-6070
ЭКОНОМИЧЕСКИЕ НАУКИ
UDC 336
Vsyakih Yu.V.
Cand. Econ. Science, lecturer Voronova E.R.
Student Institute of economy Belgorod National Research University Belgorod, Russia
PROBLEMS AND DEVELOPMENT OF MORTGAGE LENDING TODAY
Real Estate as the property plays an important role in the socio-economic development of the city. The market price of real estate is often raised too high. It forces people to incur mortgages. Mortgage becomes very popular nowadays, and plays an important role in the mechanism of purchase and sale of a real estate. Nevertheless, in spite of its prevalence, there are many questions and challenges assosieted with the phenomenon of mortgage.
Mortgage, mortgage lending, housing market, interest rate.
Housing market is a complex gear including different kinds of objects, and playing an important role in the economy of every country today. Moreover, the main components of this gear are objects of residential real estates. Residential real estate takes a special place in social relations system in every social structure. Life and activities of people in all spheres of business and management are closely connected with its functioning. [3].
It is not a secret, that the market value of blocks of flats is so high in Russia. Therefore, not all Russian citizens are able to buy acoomadation, without drowing mortgage funds. Mortgage was appeared in the Russian Federation in the end of the 20th century. Privatization was getting popular; a small number of the population had their own accomadation - these are the main factors, which encouraged commercial banks to start developing mortrage of residential properties. In just a few years, about 30 banks were appeared in Russia, which tried to organize mortgage lending.
The term "mortgage" can be intepreted in a two ways. First, we can view it as legal relationship. Secondly, it is a security.
"Mortgage" as a legal relationship assumes real estate mortgage for acquisition of mortgage.
If we consider mortgage as security, which means a "letter of hypothecation" - it is a certain debt instrument, confirming the right of the mortgagee on the property. Moreover, letter of hypothecation is active securities.
In the wide sense, mortgage suggests two ways of the loan. First, it is a method of getting borrowed assets on security, and the second - method for getting borrowed assets for real estate purchase. Mortgage is an element of economic system and thereupon there are three important characteristics:
1. Pledge of real property - it is a tool for attracting the necessary financial resources, which may contribute to the development of production.
2. Mortgage lending facilitates to the realization of property rights to objects, when other forms of data in certain circumstances, are senseless.
3. Creation alleged fund on the base of security through borrowed assets.
Mortgage - is a form of pledging, in which pawn real estate remains in the property of the debtor, and if treaty obligations are not perfomed, the creditor will be acquired a right to satisfaction through sales of morgage assets.
In addition, the mortgage is a particular element of the credit relations, effecting on their development. Using a mortgage gives an opporinity to increas the number of borrowers and lenders. There is mortgage, which often affect on the realizition of the credit transaction. Moreower, this pledge, to be exact the certain probability to lose it, stimulates the borrower.
Nowadays, it is becoming more evident the rapid increase of mortgage rates in the current ecomonic situation.
For example, the bank "VTB 24" offers four types of mortgage loans with the following conditions at the beginning of 2015.
МЕЖДУНАРОДНЫЙ НАУЧНЫЙ ЖУРНАЛ «ИННОВАЦИОННАЯ НАУКА» №6/2015 ISSN 2410-6070
Table 1
Types of loans offered by the bank "VTB 24" at the end of 2014
Loan type Curre ncy Minimum rate (%) Maximum amount (mil rub) Maximum term Purpose of loan Min. initial instalment
Real estate mortgage rub. 15.95 90 max 30 years real estate mortgage 20%
Millitary mortgage rub. 11.95 2 max 15 years an apartment on the secondary real estate market, an apartment in a new bulding, an apartment in a property under construction 10%
An apartment in a new bulding rub. 15.95 90 max 30 years an apartment in a property under construction 20%
Buying finished residential property rub. 15.95 90 max 30 years an apartment, house or other residential property on the secondary real estate market 20%
As for the other large Russian bank - Sberbank of Russia, it offers six kinds of mortgage loans on the following conditions, pay attention to Table 2:
Table 2
Types of loans offered by the bank "Sberbank" at the end of 2014
Curren cy Minimu Maximu Maximum term Min. initial instalment
Loan type m rate (%) m amount (mil rub) Purpose of loan
Special offers on buying an apartment in a new bulding rub. 14.5 max 13 years An apartment in a new bulding or in a property under construction 20%
Millitary mortgage — buying finished residential property rub. 12.5 1.9 max 15 years an apartment, house or other residential property on the secondary real estate market 20%
Millitary mortgage — buying residential property under construction rub. 12.5 1.9 max 15 years an apartment in a property under construction 20%
A young family (special offers) rub. 14.5 max 30 years an apartment, house or other residential property on the secondary real estate market or in a new bulding 20%
Buying finished residential property rub. 15 max 30 years an apartment, house or other residential property on the secondary real estate market 20%
Buying residential property under construction rub. 15 max 30 years an apartment or other residential property on the primary real estate market in a new bulding 20%
There are several problems, closely connected with mortgage lending. First, there are certain risks, associated with the fluctuations of the world economic crisis, which banks try to balance by higher interest rates. That is why the economic and political stability plays special role. Nevertheless, it is not always provided by Russian Federation.
Secondly, nowadays banks have a short-term money as a rule. It is depositing for one-year period, or the on-demand account of legal entities and natural persons. The government support programs may be as alternative variants of financing. However, the budget has a limite and it has no money for all. Stock market instruments can also be an alternative.
We can assume that in the future the schemes of conversion of advances mortgage portfolios will begin to develop. If such situation develops, the company will be able to find sources of financing for the long term and securities buyers will be able to sell them at any time to return their money.
In addition, the monopolization of the housing market can be considered problems. It is the main reason of high price and if the monopolies have disappeared, it would lead to a reduction and stabilization of market prices according to market.
МЕЖДУНАРОДНЫЙ НАУЧНЫЙ ЖУРНАЛ «ИННОВАЦИОННАЯ НАУКА» №6/2015 ISSN 2410-6070 Another important problem connected with a mortgage is the question of immigration policy. There is a difference in living standards in cities. It leads to the inflow of population in the larger, more developed cities, where they create the greatest demand for real estate. Levelling of incomes could lead to a reduction of board wage, which would have a positive impact on the widening of mortgage lending.
Russian Central Bank was sharply raised the key interest on December 16, 2014. The key interest was the percent under which it provides borrowing to commercial banks for a week, as well as interest rate at which willing to take money from banks for deposits in the week. This rate affects to the rate of banking credit, including mortgages. In addition, on December 12, Agency For Housing Mortgage Lending reported that mortgage rates are on the top of four years period. According to data from this sorce, it is worth noting that rates willgrow in October: mortgage credits were given at a rate of 12.8%, which was on 0.4% higher than in the previous month. The insurance contract is one of the conditions of the bank for a mortgage credit. There are several insurance schemes, such as:
- Life and health insurance of the borrower;
- Insurance of mortgage credit;
- Property insurance;
- Title insurance.
Mostly, the conclusion of an insurance contract is promoted to a more advantageous offer of mortgage terms. Banks usually set up interest mortgages for each credit individually under the influence of the type of lending facility, the real estate market (primary / secondary), income confirmation form, initial instalment and credit period Thus, the interest rate on a mortgage credit depends on many factors. Moreover, the economic situation at the macro level has a particular impact on the dynamics of growth of the key interest of the Central Bank. Literature:
1. Abdullaev M., Orlov A., Rimskiy L., Bu Khassan Khossam. Ipoteka. Organizatsiya ipotechnogo kreditovaniya. Uchebnoe posobie
2. Krasovskaya T. V. Problemy potrebitel'skogo kreditovaniya na sovremennom etape v RF [Tekst] / T. V. Krasovskaya, A. A. Rastashchenova, O. A. Zhabina // Molodoy uchenyy. — 2013. — №6. — pp. 355-357
3. Sternik G. M. Tekhnologiya analiza rynka nedvizhimosti / G. M. Sternik. — M.: AKSVELL, 2005. — 203 p.
© Ю.В. Всяких, Е.Р. Воронова, 2015
005.71:005.21
О.Н. Алферина, К.э.н., доцент кафедры экономики и организации производства
Т.В. Тюрькина студентка 2 курса Экономический факультет г. Саранск ФГБОУ ВПО «Мордовский государственный университет имени Н.П. Огарева»
СТРАТЕГИЧЕСКОЕ ПЛАНИРОВАНИЕ ДЕЯТЕЛЬНОСТИ ФИРМЫ И НАПРАВЛЕНИЯ ЕГО СОВЕРШЕНСТВОВАНИЯ
Аннотация
Изучены проблемные аспекты организации стратегического планирования на предприятии, приведены направления его совершенствования.
Ключевые слова
конкурентная среда, план, стратегическое планирование, результативность, эффективность, MRP II,
CRM или ERP - концепции, оптимизация.
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