Favored by interbank competition and falling demand for mortgage credit, interest rates are certainly very attractive at the moment, but not all borrowers are treated the same way by banks and their intermediaries.
Real estate credit: the main elements examined by banks
In fact, even if lenders are always looking for new clients, it is important to know that they do not like to lend to households with repeated bank overdrafts, those with no stable employment situation, or to those who do not have a savings plan. As a result, it is necessary to take care of one’s borrower profile for several months before setting up a mortgage file. This consists of cleaning up his bank accounts and limiting the small consumer loans in progress.
Namely, in order to assess the feasibility of a credit application, banks pay particular attention to certain elements. They usually ask for a copy of the latest payslips. Professional stability is a positive point. The household debt ratio is also an important element. The portion of the maturities must not exceed 33% of household income.
The borrower’s ability to make a personal contribution is also a very important element of appreciation. In fact, from 20% personal contribution, the lending institution may agree to apply an additional discount on the interest rate.
The banking intermediary: the assurance to obtain financing?
As a reminder, banking intermediation involves questioning one or more banks instead of a borrower to find the best possible financing according to its borrower profile. Thus, a bank intermediary inquires with its partners to find credit offers at the best possible conditions.
However, if these professionals make it possible to obtain free and without commitment the best offers in force, they can also allow a borrower to obtain the offer best adapted to his profile and his projects.
For this purpose, the banking intermediary looks after the borrower profile of his client to adapt it to the criteria for granting his banking partners. Once the profile borrower neat and carefully assembled file, this professional goes around banks with which he negotiated favorable credit conditions.