The Bank will lend up to 80 years for a new army of slaves-the guarantors, who will have to take responsibility for repayment if the primary borrower will not be.
Sberbank is ready to join the ranks of their borrowers by sliding the bar restrictive age from 65 to 75 years. At the same time, the average life expectancy of citizens of Russia is just 72 years, according to Rosstat, in the near future there is no reason to build a more optimistic forecasts, and the loan term can be up to 5 years. That is, at the time of repayment borrower may be 80 years. Sberbank is ready to lend to people who, most likely, will not be able to repay loans and the Bank will lose out? As it is not so.
Sberbank will issue credit to citizens to 80 years under one condition – under a compulsory third-party guarantees. This is not just a precaution. Sberbank found a win-win scheme – loans pensioners repay children or grandchildren who venture to act as the guarantors for the loan the age of their relatives. The scheme can be considered ideal for several reasons.
The first thing that comes to mind – the Bank can recover the debt from the surety through court. Maybe, but it is likely not required. Our grandparents are the most disciplined and diligent payers. They first pay their utility bills, so loans, they will also pay to the last.
In addition, almost each inhabitant of Russia at the age of 55 years and has its own housing, which is usually inherited by the children or grandchildren, and that of a sin to conceal, many for this property hope. Here lies the trap for the inheritors from Sberbank. Together with the inheritance of material assets (cars, real estate, etc.) moving to the heir and liabilities, that is loans and other debts. Thus, to obtain the legal right to the property the borrower will have to take on loan repayments, and the savings Bank will not only continue to “clip coupons” but they’ll get the influx of new customers.