In recent years, Russia has started to actively develop mortgage lending. Tens of thousands of families took advantage of a mortgage loan to acquire or improve their living conditions. However, the mortgage crisis has flared up was hit hard first by the U.S. mortgage market, and then on the Russian. The company "Finmag" reviewed the country's existing legal framework and tried to find out whether the borrower to deal with higher interest rates for mortgage loans. One of the most important consequences of the crisis was the lack of access to obtain "cheap" money lending by Russian banks by foreign, and as a consequence, a sharp rise in cost of credit. Currently, average mortgage rates reached a level of 2002 – 17-18% in rubles and 14-15% in foreign currency. And the best average rates, which until August 2008 were corrected only by hundredths of percent in October jumped by 1.5% in currency and 2% in rubles according to a study 'Fosborn Home'.
Raising rates and demand early repayment of the loan are now the most likely risk to the borrower. Can I somehow to deal with rising interest rates on your loan? "Under the Civil Code (CC), the change can be arranged by agreement between the parties or by other methods stipulated by the contract. Accordingly, if the credit contract will now be possible to unilaterally change its terms, the increase in interest rates unilaterally is not contrary. This position is also supported by the federal law 'On Banks and Banking', which states that the credit institution has the right to unilaterally change the interest rates on loans in the cases stipulated by the contract with the customer "- explains Natalia Volkova, Senior Counsel of the legal support of Retail Russian Development Bank.
Credit Card – a unique device for the loan as cash, and during the acquisition of goods or services. It is no secret that credit cards are widely available, not only banks but also companies, businesses, restaurants and hotels. There are two types of credit card payment and credit. Credit cards 'Visa' or 'MasterCard' allows you to pay a monthly minimum of their purchases with interest charges. A credit of such such as 'American Express', require to pay for all purchases at the end of the billing period. Do not forget about such functions as obtaining credit cards personal short term loans. Quite clear that the emergence of credit cards could not affect the economy. You no longer need to spend years accumulating funds for the purchase of a product, rather was only to have a credit card, and not to forget from time to time repay the amount of debts on the loan.
Large companies, firms, hotels, restaurants, eateries network also began to use credit cards to promote their products and services. But in addition to credit cards with the usual functions for us, do not forget about the debit card. This type of card is used to write off the account the prices of goods and services directly from the balance sheet of the bank customer. It is the availability of credit lines and is the criterion by which distinguish the credit card and debit card. Or rather bind to the account.
If card is linked to a bank account (checking or savings), it is a debit. If tied to the line of credit (usually without the possibility of creating a positive balance), then the credit card. This terminology long-established and used in the U.S. de facto. In Europe, in Russia or in any other place may have different criteria. There is no doubt that the emergence of credit cards is rapidly facilitated as obtaining a bank loan, and the procedure repayment of debts on the loan. Now there is no question – 'where to get a loan? "And the question-' how to pay it?"