The essence of the principles of the history of mortgage lending

Introduction

Kazakhstan's transition to a market economy objectively led to a revision of the concept in the housing policy. The new policy in solving the housing problem is based on the formation of the housing market, creating the conditions for preferential housing earning population, the cost of achieving a balance of housing and real income of citizens.

The downturn in investment activity in the construction industry repeatedly increases the importance of the actual launch of new mechanisms to attract extra-budgetary funds in the construction sector, including at the expense of mortgage lending, as it can really help the development of the construction industry, to improve the employment rate, to solve a number of social problems character.

Kazakhstan has real prerequisites for positive development of the legal framework of implementation of mortgage lending and housing programs. The Republic of Kazakhstan has adopted a number of laws and regulations related to mortgage lending: the Civil Code of the Republic of Kazakhstan dated 27 December 1994 (general part) and 1 July 1999 (Special Part); Law of the Republic of Kazakhstan dated 30 June 1998 "On the registration of pledge of movable property"; Decree of the President of the Republic of Kazakhstan having the force of the Law of 31 August 1995 "On Banks and Banking Activity in the Republic of Kazakhstan"; Decree of the President of the Republic of Kazakhstan having the force of the Law of 23 December 1995, "On mortgage of immovable property" and other legislative acts. In addition, there was an interdepartmental working group, the result of which was the approval of the Government of 21.09.2000, the "Concept of long-term financing of housing construction and development of mortgage lending in the Republic of Kazakhstan."

Actuality: Without addressing such critical socio-economic challenges as improving housing affordability in Kazakhstan, the increase in the proportion of homeowners is not possible to stabilize society. To solve these problems, you need to create a market system of housing finance, which will meet the demand of the population for housing.

The main forms of housing finance are loans, including mortgages, direct investment, budgetary financing, equity investors, both legal entities and natural persons in construction of residential buildings, the provision of budget subsidies to citizens for the purchase of housing.

Housing construction - one of the priorities of Kazakhstan's Development Strategy 2030. The acquisition of own property - primary need for every family. With the decline in budget financing of construction and provision of housing, the main source of funds for the purchase of property are own funds from the public, as well as bank loans, it happens in most economically developed countries in the world and in Kazakhstan.

In these circumstances, there is an objective need for long-term loans to individuals for housing construction, minimally exposed to inflation and maximize the timely return. That these requirements are met by a loan secured by a pledge of inventory.

The experience of many other countries shows that with proper organization and conduct of public policy weighted mortgages gradually transformed into a self-financing system, which provides and largely determines the functioning of the housing market.

At the same time due to a sharp expansion in effective demand from the population activates new construction, increased production of building materials, specialized equipment, new architectural designs improved, there is the accelerated development of many related industries.

Purpose of course work - to assess the current state and development of mortgage lending in the Republic of Kazakhstan.

System of mortgage lending of the republic of kazakhstan

The essence of the principles of the history of mortgage lending

The word mortgage («hypotheka») - the ancient Greek and means "the base", "bail" . Mortgage - a purchase of an apartment in the property available with no down payment loan with a term of up to 20 years. Since the purchase of apartments, yet do not pay back the loan to the bank, the borrower lives in the purchase of an apartment, if desired registers it with family members. It is also possible to rent this apartment in agreement with the bank. Until settlement with the bank loan, the apartment will be pledged to the bank. That is, any disposition, either: the sale, donation possible only after full settlement with the bank loan.

The term "mortgage" first appeared in Greece in the beginning of the VI. BC (it has entered Archon Solon) and has been associated with providing liability of the debtor to the creditor certain land holdings (originally in Athens served as collateral identity of the debtor, which in the case of default threatened slavery).

To do this, we made out obligations, and on the border of the territory of the land owned by the borrower raised pillar with an inscription that said property serves as collateral for the lender claims to name the sum. In this column, called "mortgage" (from the Greek. Hypotheka - stand, backup), we observed all the debts of the land owner. Later for this purpose began to use special book, called a mortgage. Already in ancient Greece, ensured transparency allows each interested person to freely be able to make this land ownership.

New Development Institute received a mortgage in the Roman Empire. In I. n. e. We created mortgage institutions that gave loans secured by the property to private individuals.

It should be noted that the lien is one of the oldest institutions of civil law. The appearance of collateral, improving its form, passed gradually and in line with general trends in the development, both rights and economic relations was caused by the principles of this development, because "the form of collateral has always constituted one of the most sensitive points right to development one of those items that are most strongly reflect the progress of economic evolution in the public sphere. "

Using these forms of collateral interests of the debtor were provided very inefficient, because it more closely resembles a conditional form of sale and did not answer based on the establishment of the pledge encumbrance enforce the debtor's principal obligation

In the classical period in the praetorian edict there was a third, the most advanced form of the Roman collateral - mortgage (hypotheca), developed under the influence of the Eastern Greco-Egyptian law. In this form of collateral it remained in the ownership and possession of the debtor, and the subject of the lien was given the right in case of default to claim the pledged thing, who would it by the time nor proved, sell it, and from the proceeds to cover his claim against the debtor .

Once introduced into practice hypotheca as a form of collateral, is not accompanied by the transfer of the thing itself, to whom she was laid, and in the case of default of the secured obligations thing does not become the property of the pledgee, and subject to compulsory sale, it was possible to establish on the same thing several consecutive liens.

The ratio of multiple liens on one and the same thing is determined by their seniority, ie the settling time of collateral (the so-called rank of liens). The right to claim the pledged asset was recognized only for the first pledgee, second, third, and so on are met (in a queue) from the balance (for the first meeting pledgee) the proceeds from the sale of the pledged thing. There is a transition of the first rank (seniority) to a person who satisfied the first pledgee, called mortgage succession.

Formation of the classic mortgage institution was associated with a change of political and economic conditions of that time: the weakening of the slave-owning and managing a massive transfer of land to tenants. Initially, a new form of collateral extended to the tools that the tenants of land due to objective reasons are not able to transfer land owners. Later in the beginning of the mortgage and property transferred.

The state's role in the observance of the rights of participants in mortgage transactions was great. Suffice complex structure of the transaction required monitoring and control, streamlined registration system. Due to the weakening of government functions with the sunset era of the ancient world, the mortgage institution has ceased to exist for several centuries before reappear in medieval European legislation.

Great resemblance to the German law the oldest organization of real credit is the French law. Almost exactly the same with the German Engagement French aeltere Satzung. was of two forms of collateral real estate: vifgage and mortgage. When things vifgage fruit not only replaced the occupation rate amount, but were also in equity, whereby after a certain period could come from the release of things collateral burden.

Legislation countries of continental law system, along with the term "collateral" as it was known the term "mortgage", where the latter is understood secured by real estate. It should be noted that it is not just about the various terms of, and the difference in legal regulation. Legal provisions relating to the security of real estate (mortgage), are significantly different from the rules of law relating to the pledge of movable property.

Traditionally, the countries of continental law system only immovable property can be mortgaged as real estate, as a rule, be subject to registration. When the owner of the mortgage continues to hold things burdened thing. If the pledge item is passed into the possession of the pledgee. This is due primarily to the fact that finding real estate constantly in the same place makes it possible to establish and maintain proof of rights to the property. Persons having the right to immovable property such as, for example, the mortgage lender, always have the opportunity to restore the place of the proof of rights, while the proof of rights in respect of movable property is complicated by the mobility of the property.

In order to establish mechanisms for financing of housing construction, housing solutions for the general population, decline in housing prices and stimulate housing construction decision of the Government of the Republic of Kazakhstan dated August 21, 2000 № 1290 approved the Concept of long-term financing of housing construction and development of mortgage lending in the Republic of Kazakhstan.

In accordance with the Concept of the National Bank of Kazakhstan has been decided to set up an operator of secondary market of mortgage loans, refinance lenders issuing long-term mortgage loans to the population.

Company works on the program, the banks were able to issue loans to citizens of the Republic of Kazakhstan in the national currency for long periods.

An important activity of JSC "Kazakhstan Mortgage Company" is to standardize procedures for the issuance and servicing of mortgage loans. The solution to this problem will reduce the risks of the subjects of the mortgage market and to simplify the process of handling mortgages on the secondary market.

The loan under the program of the Company available for up to 20 years. In the near future the company will now begin to lend to commercial real estate of private businesses and individual entrepreneurs.

In November 2005, the maximum interest rate on mortgage loans issued by market program, the Company is 11.9%, taking into account the maximum margin of banks - 4%. For comparison, in October 2005, the mortgage loans were issued at a rate of 13.2%

To increase the availability of mortgage loans to the general public, the company has already held talks with a number of partner banks and reached a preliminary agreement to reduce the margin of banks to 2%, which will enable citizens to obtain a mortgage loan on the market the company's program of interest rate from 9.9% to 11.9% .

Citizens who do not qualify for a mortgage loan under the state program, are able to take advantage of market program of the Company, and get a mortgage for the purchase, renovation and construction (equity participation in construction) of housing.

Banks - Partners grant mortgages on the market the company's program of interest rate set by the Company. The interest rate consists of the quoted rate, established by the Company, and the margin of banks - partners, ie allowance covering the costs of the bank - a partner for the issuance and maintenance of a mortgage loan. Maximum margin determined by the Bank - the partners is equal to 4%. The company, claiming the quoted monthly rate based on the current for the previous month the annual inflation rate, and the spread, which includes a margin of investors who buy mortgage bonds of the Company, and its own margins, providing cover their costs and profit of the Company. "Kazakhstan mortgage company" is confident that the measures taken will help to continue to work with partner banks to further reduce interest rates on mortgage loans.

Since October 2003, the state started "Housing Construction Savings Bank of Kazakhstan" (ZHSSBK). Bank working on the scheme of the German savings funds, offers the customer for 3-10 years to save up to 50% of the price, and then outputs the remaining amount of the loan under the 3.5-6.5% per annum. Term of the loan is 15 years old today. In sub-client means is charged 2.5-5% per annum, for which the state adds about 12 thousand tenge per year.

To date, the bank concluded about 1.3 thousand contracts for the total contractual amount of over 1 billion. tenge. The adopted housing program is planned to decrease the initial contribution from 50% to 25% and an increase in the maturity of the principal amount of the loan from 15 to 25 years.

Loan term - up to 10-15 years, depending on the duration of storage. Interest rate on loans is from W, 5% to 6.5% per annum.

To obtain housing loan enough to save money in a savings account opened in Zhilstroysberbank of not less than 50% of the amount needed to improve their living conditions. Upon expiration of accumulation, in addition to the payment of your savings, you are given credit in the same amount to improve housing conditions.

The amount of accumulated savings includes the amount of deposits, fees and bonuses of the state.

The minimum term accumulation of housing construction savings for today is 3 years. The maximum period of storage is not limited. Throughout the period of accumulation of money the bank's clients bear interest at a rate, the size of which is selected by the client yourself - from 1.5% to 4.5% per annum. Thus, choosing the interest rate on the deposit, the client determines the interest rate on the loan. For example, if the interest rate on deposits of 3% a year, the interest rate on the loan is 6% per year.

In addition, at the end of each year at the expense of the state to save the client additionally charged state premium at the rate of 20% of the total promote the contribution (including accrued interest), with maximally encouraged premium deposit amount of 60 monthly calculation indices (MCI). This means that the maximum annual premium for the deposit is 20% of the 60 MCI. For example, in 2011, MCI is 10300 tenge - the maximum size of the State Prize for 2011 will be 11 028 tenge for each input.

Remuneration and bonuses for state contributions to housing construction savings annually to the increase in the principal amount of the deposit.

In addition, the customer can receive the intermediate housing loan before the expiration of the period of accumulation, subject to the minimum required amount of savings (50%), while the rates of interest on intermediate housing loans differ from the interest rates on housing loans and set tariff programs of the Bank.

The client also has the right to terminate the agreement on housing construction savings and receive contributions with accrued to him the reward, while the premium paid to the State, provided savings deposit is not less than 5 years.

High safety of the population's savings in JSC "ZHSSBK" ensure the participation of the State in the authorized capital of the bank, as well as the mandatory participation of the bank in the system of compulsory collective guaranteeing (insurance) of deposits (deposits) of individuals.

In accordance with the State program of housing construction in the Republic of Kazakhstan for 2011-2013, approved by the Decree of the President of the Republic of Kazakhstan dated June 11, 2004 № 1388, provides:

-reduction in the size of the necessary savings in the housing construction savings banks to 25% of the cost of housing (instead of 50%);

-an increase in the loan term to 25 (instead of 15 years), depending on the time savings;

-encourage States to increase the size of the deposit amount up to 200 monthly calculation indices (MCI instead of 60).

These provisions will be implemented after appropriate revisions in 3akon.

To sign the agreement on housing construction savings, the following documents: identity card, a copy of TIN (at the conclusion of the contract to itself), at the conclusion of the agreement on the child additionally appears on the birth certificate / identity document at the conclusion of the agreement to a third person in addition - notarization power of attorney.

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