Home buyers read / Strange thing in buying a mortgage

According to Tejarat News, with the jump in the price of housing facility concessions (TSE) over-the-counter (OTC) in Iran, the effective interest rate on mortgages has actually reached the highest level in recent years. Tse and to guarantee the payment process of the facility, apply a significant discount on the number of bonds required to obtain a loan.

Two-way discount for the bank

With the 90% rise in the price of housing facility bonds (TSEs) in the last quarter, deposits in Amel Maskan Bank with the aim of receiving TSE bonds have become very attractive and the bank has to pay more facilities in order to use the turnover of its deposits; However, due to the jump in housing prices in recent years, even a 100% increase in mortgages has not been able to stimulate the housing market to flourish.

In this situation, applicants who previously had to buy two sheets of preferred bonds from the OTC market of Iran to receive each million tomans of facilities and presented them to bank branches, can now buy only one sheet of TSE bonds for every one million tomans of loan. And annul.

With this account, the profit and loss of both parties to the mortgage, ie the applicant and the operating bank in the game of housing facilities, is equal to zero, and only the interests of the depositors remain, which seem to have suffered significant losses.

Repayment of facility without deposit

Housing facilities are granted using preferred bonds at a rate of 17.5 percent with a repayment period of 12 years, and the cost of purchasing TSE bonds is also considered as part of the loan interest rate, which takes into account the effective interest rate of these facilities reaches more than 20 percent. . Meanwhile, the Housing Bank has given mortgage applicants the right to receive half of their facilities without purchasing the securities and from the sources of the facilities without deposits, due to the considerable cost of TSE bonds.

It is noteworthy that according to the circular issued by Amel Maskan Bank to its branches, the interest rate of housing purchase facility or repair without deposit is 18% and the repayment period for housing purchase facility without deposit is 96 months equal to eight years and for deposit housing facility without deposit 60 months will be equivalent to five years.

With these details, although the applicant does not need to buy and cancel the TSE bonds in exchange for receiving half of his mortgage, and from this place, at yesterday’s rate of about 113 thousand tomans per million tomans of loan, his cost will be reduced, but in return, he must have half a percent. Pay more interest to the housing agent bank and have to settle its facilities in eight years instead of 12 years.

Victims of free resources

In May of this year, when the First Housing Savings Fund ceased operations after 5.5 years, 271,000 depositors remained in the fund, about a portion of which is still in the block.

Also, following the implementation of the National Housing Plan since 1998, the applicants were obliged to open an account and deposit their cash in an account with the Housing Bank. But the latest statistics provided show that: from the implementation of the project until mid-December this year, 168 thousand people have paid their initial income to start work and complete the residential units of this project, which is estimated at 10 thousand and 300 billion tomans And the Housing Bank has allocated five thousand billion tomans to projects from this place.

It is noteworthy that the construction cost in the national housing projects and the National Housing Movement is determined based on the actual construction cost and in proportion to the price of construction inputs. It is their initial introduction.

Source: Hamshahri news papar

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