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Three negative points of borrowing using housing bonds

Three negative points of borrowing using housing bonds

  1. The most important negative point of the facility bond loan is the low loan limit. So, if you want to avoid depositing in the bank and take a loan with housing facility bonds, the loan limit will be reduced by about 40%. For example, couples living in Tehran can borrow up to 160 million tomans by making a deposit, but by using facility bonds, the loan limit is reduced to 100 million tomans.
  2. Another negative point about mortgage bonds is the high-interest rate of loans for such facilities. If you go for the deposit method to get a mortgage loan, the loan interest rate will be eight percent. However, if the house you are looking for is in a dilapidated condition, the loan interest rate will be reduced to six percent. Meanwhile, the interest rate considered for mortgage loans reaches 17.5%.
  3. The last negative point is related to the time when the housing purchase deal did not work. In such a case, there is no news of the loan anymore, and you will not be able to take back the papers you gave to the bank to get a mortgage loan for four months.

Until the winter of last year, Housing Bank was the only one that issued facility bonds in exchange for attracted premium deposits, and these bonds, each of which gives the buyer the right to receive 500,000 tomans of housing facility, with the symbol "Tese" in the official over-the-counter market. It was exchanged.

Meanwhile, this year, Melli Bank's housing facility bonds with the symbol  " Tamli "  were officially introduced and offered in the over-the-counter market.  (The most important feature of the new bonds issued by the largest state-owned bank is breaking the monopoly of the housing bond market, which was previously the only bank operating in the housing sect Where Is The Serial Number On A Savings Bond?

Five differences between the two National Banks and Housing Loans

The first and most important difference is in the "loan ceiling". Due to the fact that Melli Bank's loan amount is half of Housing Bank's and the 10 million tomans facility without deposit and without bonds is only reserved for Housing Bank, the ceiling of housing facilities is different between these two banks.

The second difference refers to the "loan repayment period". The ceiling of the housing purchase facility from the place of bonds in both models is 12 years and with 17.5% interest, but the repayment period of Maskan Bank Jaala is 5 years, while the repayment period of National Bank Jaala is 3 years.

The third difference is in the number of bonds assigned to Bank Maskan's premium accounts compared to Bank Melli's housing plan accounts. In the model of National Bank, after one year, equivalent to Riyal equal to one time the balance up to 38 million Tomans, bonds are awarded to the account holder, but in Maskan Bank, after one year, equivalent to Riyal 27% of the deposit amount, bonds will be paid.

The fourth difference, which is very important for home buyers, is the removal of the age limit in Melli Bank mortgages. According to the current regulations of the Housing Bank, facilities from the bond office are only paid to properties up to 20 years of construction from the date of issuance of the building permit, and properties between 20 and 25 years old can also receive a maximum of 35 million Tomans from the bond office; However, properties of more than 25 years are never eligible for the housing bank loan.

This is despite the fact that the National Bank has removed the apartment age limit for using a loan without a deposit, and this type of housing loan is paid only on the basis that its amount has a maximum of 80% of the final value of the property.

The fifth difference between the two types of access to housing bank facilities is the lack of two levers to control speculation and capital demand in the National Bank bond market. In order to create price protection for housing bonds that it has issued on the basis of its premium deposits, Bank Maskan has designed two levers, one of which is banning the exchange of bonds up to four months after purchase and the other is setting a daily purchase limit of up to 240 bonds.

By using these two tools, Bank Maskan was able to control the price of bonds in the past year despite the return of prosperity to the housing market to a large extent. In the summer of 1995, the price of housing bonds had reached the border of 100 thousand tomans, but with supply policies and reliance on speculative demand control tools, the price of bonds was controlled from then on, and since the beginning of this year, it has reached its lowest level in more than a year. it arrives.

So that now each item of the housing bank's facility bonds is exchanged over the exchange for about 63 thousand tomans; But Melli Bank has not used such tools for now and it is possible to buy and sell bonds in any quantity and immediately after purchasing, and this issue increases the concern about surfing on the price of Tamale bonds in the coming months.

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