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Posted: Tue Jan 21, 2025 9:17 am
Central Bank restrictions on mortgages from March 1: how to ensure a "yes" from the bank Columns 08 February 2024 Victor Lapin Victor Lapin Developer, founder of the development company Devs Group and the real estate business school ProRealtor We continue talking about mortgages. In the first part of the material , we said that from March 1, 2024, the Bank of Russia will introduce new standards for mortgage lending , which will complicate the loan approval process.
The interest rate will depend on the size of the down usa telegram number database payment and the availability of other loans from borrowers. In the second part of the column, the founder of the development company Devs Group and the real estate business school ProRealtor Viktor Lapin told what to do if you are unlucky and the bank has refused to grant you a loan.
The expert shared specific steps that will help change the bank's decision: a harsh "no" will be replaced by a friendly "yes". Subscribe to RB.RU in Telegram Why I might have been denied a mortgage When it comes to mortgages, banks are real detectives. They carefully study your credit history, and if there is anything suspicious in the past, they can refuse you without hesitation.
Let's consider what exactly can influence the bank's decision. Insufficient official income. Banks evaluate your financial ability to repay the loan. If your official income does not meet the bank's requirements or does not allow you to cover the monthly payments, this may be a reason for refusal.
Inaccurate or incomplete information. Inaccurate or incomplete information when filling out a questionnaire or submitting questionable documents may cause mistrust on the part of the bank. For example, if you are trying to hide third-party financial obligations or provide false information about your income. Unsuitable property.
Banks also evaluate the property you choose. If it is in poor condition: requires significant repairs or does not meet safety standards, the bank may refuse a mortgage due to the risks associated with the future illiquidity of the property. Bad credit history. Negative credit history: late payments, debts or bankruptcy can greatly affect the bank's decision and become the main reason for denial of a mortgage.
Where to get money for business and how to manage finances? Experts from the educational platform for entrepreneurs "Kurs" will tell you .
The interest rate will depend on the size of the down usa telegram number database payment and the availability of other loans from borrowers. In the second part of the column, the founder of the development company Devs Group and the real estate business school ProRealtor Viktor Lapin told what to do if you are unlucky and the bank has refused to grant you a loan.
The expert shared specific steps that will help change the bank's decision: a harsh "no" will be replaced by a friendly "yes". Subscribe to RB.RU in Telegram Why I might have been denied a mortgage When it comes to mortgages, banks are real detectives. They carefully study your credit history, and if there is anything suspicious in the past, they can refuse you without hesitation.
Let's consider what exactly can influence the bank's decision. Insufficient official income. Banks evaluate your financial ability to repay the loan. If your official income does not meet the bank's requirements or does not allow you to cover the monthly payments, this may be a reason for refusal.
Inaccurate or incomplete information. Inaccurate or incomplete information when filling out a questionnaire or submitting questionable documents may cause mistrust on the part of the bank. For example, if you are trying to hide third-party financial obligations or provide false information about your income. Unsuitable property.
Banks also evaluate the property you choose. If it is in poor condition: requires significant repairs or does not meet safety standards, the bank may refuse a mortgage due to the risks associated with the future illiquidity of the property. Bad credit history. Negative credit history: late payments, debts or bankruptcy can greatly affect the bank's decision and become the main reason for denial of a mortgage.
Where to get money for business and how to manage finances? Experts from the educational platform for entrepreneurs "Kurs" will tell you .