Whether can change bank mortgage conditions?
As is known, in Russia wait for financial crisis. Banks start to be nervous, clients of banks panic, the state starts to insure bank deposits for higher sums.
All it becomes not to admit the general panic when in banks it will not be simple money and here then crisis really will come and will struggle with it difficult.
However some banks in Russia have decided to struggle independently with a situation and have been compelled to raise rates under hypothecary credits.
Here only a problem that some banks have decided not only to change conditions of reception of new hypothecary credits, but they have decided to raise rates under those credits, which borrowers took for a long time already and pay on them percent on what borrowers have informed in the latest turn.
Naturally, the discontent wave has followed. But let's look, whether has bank the right unilaterally to change mortgage conditions? All depends on that contract which was concluded by the borrower with bank. As a rule, it is possible to find not clear enough formulations which concern payments of percent on the hypothecary credit (probably in hypothecary contracts, it is made just on that any case). However some banks conclude also the additional agreement where the interest rate under the credit is in black and white registered.
It turns out, that if in the contract it is not written that the bank can change the rate and there is an additional agreement - bank actions contradict the law and you have the full right to address in court. The bank can demand cancellation of the contract and many other things, but thus the bank should prove in court on what bases it has raised the rate or has changed other conditions of the mortgage. Crisis - quite serious basis but how to prove it in court? What facts the bank can give? Most likely, proceeding will be tightened, but there is a probability of that the court will side with the borrower.
If your bank has informed you on changes of conditions of the mortgage because of crisis, at once take the contract and go to the lawyer to check up, whether has bank on this right.
Related Articles:
- The currency credit or rouble?
- The credit or leasing? What to choose?
- Express credits in Russia. What situation?
- The credit for formation - the Russian model.