The terms of consideration of the mortgage loan occupy more time than the term of consideration of any other loan, with which it is connected and why is the application consider longer? — We will understand in our material.
Consider the stages of checking the application of the potential borrower and describe in detail how you can accelerate this procedure!
Once you have applied to the bank to receive a mortgage loan, you have to wait for a positive decision of the credit institution. What time period does it take? — In each credit institution on the procedure for approval of a mortgage loan takes place at different times.
The fact is that large funds are issued for mortgage, so banks check customers more carefully. Also, you should not forget that the process of obtaining money is also not fast, since with a positive decision, mortgage and other documents are issued.
In order to apply to the bank, it is necessary to assemble the packet of papers provided for by a specific credit institution. You fill out the application of the application package and from this moment the process of consideration comes.
The credit institution manager transfers information from the questionnaire to a special program. The data is transferred on the same day as you filed a statement, but, often, the process can delay for 2-3 days if the bank employee has a big workload.
Caming data takes a couple of hours, after which the manual check comes. Manual checking of documents takes one business day, but here it also depends on the workload of the Bank’s specialists, sometimes the process can delay for 2-3 days.
As soon as the Bank approved all the documents and repeatedly verified the information, the assessment step occurs.
The bank checks all sorts of risks and assess the solvency of the potential borrower. This procedure can take from 1 to 3 days.
After all checks and analyzes, the decision approval is made.
If the packet of documents is assembled correctly, the bank does not have to return to you documents and wait for the papers that do not get.
Carefully treat the application-questionnaire, as you can allow ridiculous errors. Try to not allow errors, and if you allowed it is better to immediately ask a new form and fill out data, but without errors. The profile is large and on its filling on average leaves from 30 minutes to 2 hours. Some people have problems with this and the process is delayed for weeks and even months and this is a real practice!
The guarantor is waiting for the same check as you, as the main borrower. You should also take care of the certificate of income of your guarantor.
Mainly mortgage loans take family couples and concerns often become either husband or wife.
But if the chances of getting a loan are small, the bank asks to find the guarantor.
It is best to apply for a mortgage loan in a bank where you receive wages, banks are more loyal to such borrowers, in this case, the certificate of income may not even request. Conditions in such a bank may be better than in many others, as for the bank you are already a trustworthy borrower.
The average period of receiving a mortgage loan is approximately 7 days, but this process is tightened to 14 days. But it happens so that