A loan for an apartment.
The mortgage loan is issued by the bank within three months after it approves the loan application of the borrower. During this time, the borrower needs to find a suitable apartment and make it an assessment, choose an insurance company.
If the borrower did not meet this period, he will be forced to submit an application again. At the same time, he will have to re -check for solvency and compliance with bank requirements before taking a loan in cash.
In addition, it may not change to the best side for him and loan rates. The credit committee indicates in its conclusion, issued at the request, the interest rate, which the bank has the right to change even before the issuance of a loan.
There were different cases on the Russian market. It happened that banks changed the size of interest rates both before the issuance of a mortgage loan, and right at the time of its issuance. Clients at the same time fell into a very difficult situation.
In case of refusal of the loan, they lost the money paid for the assessment of housing, there were difficulties with the return of the previously brought advance. In addition, the time spent on the collection of documents was lost wasted.
Refusing the already approved mortgage loan, a person could forever lose a chance to solve the housing issue. The borrower was forced to become a hostage of the bank, dictating his conditions for him.
Today, the situation in the mortgage credit market has changed in a positive way. It is regulated by multiple instructions and provisions, so there are practically no such sharp jumps in bets. This led to some stabilization of housing prices.
Meanwhile, banks refuse a mortgage loan to many borrowers. There are different reasons for this. The most common reason is the incorrectly specified data when submitting an application.
Therefore, it is better to immediately indicate reliable data, because banks can refuse a person to obtain a loan without even explaining the reasons for the refusal, and will be right at the same time.