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With the advent of the crisis, banks have become pickier in the selection of borrowers and try to take fewer risks – to date; the share of refusals in a mortgage loan is at least 30% of the total number of applications. The reason may even be the recent divorce of a potential borrower, as well as a dubious source of income and, of course, the irregularity of their receipt.

Among the most common reasons for refusal are the low solvency of a potential client and a bad reputation reflected in the Credit History Bureau (BCH). However, even if the potential borrower is clean, the bank can still refuse if the borrower is burdened with obligations to other financial organizations (this applies to individuals paying more than two loans). The options are there with the mortgage broker GeelongĀ .

In addition, in the process of making a decision, the bank applies not only to the borrower’s personal assessment, but to what the scoring system will show. On how many people scored points, completing the questionnaire, it depends whether the application will be approved or not. The decision can be affected even by a recent divorce with the spouse. In this case, the bank does not care that, for example, the borrower does not have to pay alimony, and, accordingly, he does not have additional financial obligations.

To whom do banks give mortgages for an apartment, and who is denied?

Mortgage without down payment: where, how, how much?

The amount of the loan affects the bank’s decision to refuse in many cases. And if the borrower asks for too little a loan with a high regular income, the most likely answer is a refusal. Because of fears that the client quickly enough to pay for the loan, and hence the earnings of the institution will be minimal.

  • Finally, there are a number of categories of borrowers that a priori fall into the group of potential refusal. Ironically, among them, not only free artists and other representatives of creative professions that do not have a permanent income. In the category of refusal, there might appear to be quite trustworthy borrowers.
  • For example, there is a risk of getting a bank refusal from officials and customs officials who did not confirm their income in full with a 2-NDFL certificate or a tax return. In this case, banks fear that bribes may be the source of the initial payment and monthly payments. For the same reason, a mortgage may also be denied to a policeman.

But the employees of pawnshops and other companies that take advantage of the difficult situation of the borrower for profit, the bank can refuse because of unwillingness to stimulate this type of business. The same is possible with employees who work in the gambling industry, the tobacco industry or in arms production and trading companies.

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