Getting a MORTGAGE for a foreigner in Russia

🙏 Please support the team of our channel: 🔴 Subscribe to our chanell: @TarasenkoVasily ➡ Website: ➡ Legal services (Whatsapp, Telegram): 7-909-961-19-09 and legalsolutions@ ➡ ➡ ➡ Foreign nationals may qualify for loans and mortgages just like Russians - there are no legal restrictions - and a mortgage is easier to get than a consumer loan if you’re a foreigner, since the apartment will be pledged to the bank until the borrower pays the full amount. However, this doesn’t mean that you’ll be granted a mortgage; different banks have different policies. REQUIREMENTS Lenders have stricter requirements for guests from abroad - they want to make sure that the borrower officially resides in Russia and is unlikely to leave the country. Ideally, a borrower should: ✅ have a temporary/permanent residence permit ✅ be a tax resident of Russia. This is a person who lives in Russia for at least 6 months a year and pays taxes to the state treasury ✅ be employed by a Russian company or registered as an individual entrepreneur ✅ receive a stable income ✅ have a Russian citizen spouse who is ready to become a co-borrower ✅ have a positive credit history and no debts on previous loans A foreigner doesn’t have to meet these criteria 100%, it’s enough to have a residence permit, pay taxes on time, work in Russia and have a stable income source. IF ONE OF THE SPOUSES IS A FOREIGNER In this case, there are two ways to apply for a property loan: 1️⃣ CO-BORROWER SPOUSES. The bank considers both spouses as parties with equal financial responsibility. Then the chance of getting a loan is higher than with one foreigner, but the foreign party should meet the above criteria (stable income, etc.). 2️⃣ THE RUSSIAN SPOUSE IS THE ONLY BORROWER. On one hand, only the Russian spouse is considered liable for the loan. But, as you may remember, all assets (and debts) the couple acquired during the marriage are their common and are to be divided equally in a divorce, incl. loans. For the bank not to get trapped in case of divorce, it may demand the couple to sign a postnuptial agreement, according to which the foreign spouse doesn’t lay any claim to this property if the marriage ends. So the bank can be sure the borrower won’t disappear.