Before making an appointment with a banker, check that your file does not include these two elements.
Applying for a mortgage loan is often seen as quite complex. Particularly for people who are not really comfortable in this area, or for whom this is a first purchase. When you embark on a project of this type, it is essential to put together a file, with various documents, in particular supporting documents relating to your financial situation. The file will then be studied by the banker in person. This is why it is essential to prepare for the interview in advance. But you still need to know where to start, and above all what points to work on so as not to get a refusal.
For this type of request, bankers generally focus on two risks that raise awareness regarding the client’s situation. The first concerns maturity risk, “that is to say, what is the risk that our client will no longer be able to repay us the monthly payments over the course of the loan”, explains Yoanne Bobe, real estate credit manager at La Banque Postale.
On this point, “financial advisors look more carefully at the client’s debt ratio and the jump in charges, i.e. how much rent or credit he had before taking out the loan and what his charge will then be once he has taken out this new credit “, explains the specialist. For this criterion, the jump in customer charges must not already be too significant, because with a new one, this risks putting them in a difficult financial situation. However, if he proves that he manages to save every month despite everything, this can work in his favor. The main thing is that the client manages his accounts well!
The second risk is linked to the final loss for the banking establishment. “If the client no longer repays his monthly loan payments, what loss could the bank have?”, indicates Yoanne Bobe. In this idea, before granting credit, the banker is able to check if there are significant outflows of money from the customer’s account. In this case, the person must be able to justify these withdrawals. The same goes for bank overdrafts or consumer loans. Whatever the case, keep in mind that it is in your interest to justify your financial situation as best as possible, and to clearly justify your request for a real estate loan from a banker.