Development of mortgage market in Russia is in full swing, increasing each year the turnover. But this is not driven by the quality of the service. Many Russians having no other opportunities to purchase housing are forced to accept any, even the most strict and unfavorable conditions.

Such services are very popular, so it is not surprising that the banks in this area has a competitor. The Agency for house mortgage lending, NPF "Welfare and the management company "Trinfiko properti Management" in the form of a mutual investment Fund launch of the project for the sale of housing. The program is aimed primarily at working with the housing economy class.

The program is called "Affordable housing in installments." The buyer chooses an apartment and a mutual Fund buys it and enters into a contract of sale with deferred up to 15 years. After that, the family may enter the apartment and to pay the monthly payment. A portion of this amount goes to repay the installments and the second part - rent for the use of the apartment.

This approach has several advantages over a mortgage.

Firstly, it is possible to get an apartment without a down payment.

Second, the buyer may terminate the contract of sale and to regain back the money spent on repayment of the installment, losing only the money paid for rent.

Thirdly, this scheme will be the simplified system of verification and registration of potential customers. As reported by the AHML, this procedure will take more than a week.

Have alternatives to mortgage and cons.

First, buying an apartment in this way will cost 10-15% more expensive mortgage.

Second, it is unknown how much it will cost to rent the purchased apartment and whether this cost is commensurate with the market.

Anyway, as the process is already running. It is known that in the first phase AIK invested in Fund of 350 million rubles. The money will be spent on the acquisition of ready economy-class housing in new buildings of Moscow region, Yekaterinburg and Novosibirsk. By the end of 2014 are expected to increase the Fund to 1 billion rubles.