Rates which are increasing, and which could reach 5% at the end of the year, very cautious banks: obtaining a property loan has become complicated, but there are a few points not to be overlooked.
How to properly prepare your real estate loan application file with the banks? At a time when interest rates could rise up to 5% at the end of the year, you really need to “clean up” your accounts. Advice from Fanny Guinochet
franceinfo: The banks are really very attentive to the good maintenance of our bank accounts, especially when we apply for a real estate loan…
Fanny Guinochet: You must take good care of your file. In fact, you must do everything to reassure your bank, the one to which you are making your request. She will go through all your accounts, and in particular the last three statements.
For this, the first thing to do is not to leave any overdrafts or agios lying around, to repay in one go, if you can, the consumer credit that you had taken out, for example. Payment defaults and bounced checks must not appear, even for a small amount, a forgotten fine for example.
The banker sifts everything?
Its job is to check the money you have available each month, so it’s time to exclude subscriptions that are of no use, to avoid showing yourself to be a big spender too, avoid – as much as possible – the huge purchase just before putting together your file.
You must do everything to justify your management as a “good father”, avoid going to the casino just before. If you are in the trial period in an employment contract for example, it is better to wait until you are confirmed to present your file, it is not a few weeks or days away. In short, be strategic.
The banker also looks at your savings ?
Yes, already, because buyers must provide proof of a sufficient contribution, generally at least 20% of the amount of the operation. So, if you can, now is the time to ask your parents or grandparents to help you, even if it means repaying them after obtaining your loan. To take your company savings plan if you have one, to recover the money so kindly lent to a friend, your brother, etc. Of maximize your savings.
And this file serves you for all the banks you contact, as always, do not hesitate to encourage competition between establishments. At the moment, there is a bit of a relaxation in terms of real estate loans. Take advantage of it, the period also counts. There are fewer requests in the fall than in the spring, as well as more chances to win the prize.