Pavel Utkin, the leading lawyer of the United Legal Center “Parthenon”, in an interview with the “Prime” agency on Tuesday, February 2, told how and under what circumstances one can refuse the received loan.
The specialist said that there are cases when a loan is taken impulsively, in the absence of a real need for it. If the client understands that he does not need the money, or doubts that he will be able to pay it, the best option would be to terminate the agreement with the bank.
According to the lawyer, if the bank’s client has already managed to receive the money, then according to the law, it is possible to terminate the agreement without hindrance within 14 days after its signing. In addition, in the same period, you can refuse services imposed with a loan, in particular, insurance. If more than two weeks have passed since the conclusion of the contract, then you will not be able to issue a refund.
Utkin explained that banks do not have the right to refuse a client an early repayment of a loan, but can introduce a moratorium on closed loans for the first few months. They may also demand to pay interest on the days used, writes NSN. If this is specified in the contract, the situation cannot be changed. Before the conclusion of the agreement, you can refuse the loan at any time without sanctions, despite the fact that managers may try to convince the client otherwise. Meanwhile, the specialist urged to indicate a valid reason for refusing a loan, so as not to spoil relations with the bank.
The lawyer also spoke about targeted loans, the situation with which is different. If the client has taken out a mortgage, and the bank has already managed to transfer money to his account or issued it in cash, the return procedure is similar to a consumer loan. However, if the money has already been used as a down payment, it will be much more difficult to get it back.
Utkin explained that if the developer-legal entity can still be persuaded to meet halfway, then the seller, who is a private person, is extremely difficult. In such a situation, the specialist advised to sell the mortgage apartment and pay off the debt at the bank.
On January 19, it was reported that banks in Russia approved just over a third of applications for retail loans in 2020. This indicator fell by 3 pp. compared to 2019 and updated the three-year low. Car loans are most often denied. Unsecured loans and credit cards have also been approved less frequently.