Many people go to banks for a loan. Moreover, most of them go to financial and credit organizations after the tempting message that "the loan has been pre-approved." What this phrase means, and in what cases such an SMS arrives, we will tell in the article.
general information
Technological progress has entered various spheres of human life. Today, no one is surprised at the opportunity to receive various services via the Internet. With the same success, you can take a loan from the bank for any needs. The first thing to do is to submit an application. And here at the moments of experiences and expectations (will they give or will not give?) A significant part of the clients receives a message that “the loan has been pre-approved.” What does it mean? Looking ahead, we say that this message in fact in no way serves as a confirmation of the fact of the bank's consent to the issue of money.
Many credit organizations send such messages after receipt of the application. What does “pre-approved loan” mean? This is just an advertising move to attract borrowers. The solvency verification procedure takes some time, and, moreover, is carried out in several stages.
Reasons for receiving such a message
What does “pre-approved loan” mean in popular Russian banks? Often, such messages may come from Sberbank, Renaissance Credit, Home Credit, Orient Express, Bank Post. And they say that they trust this person. There are several reasons for this:
- A person is a client of the bank.
- He has a current or recently closed loan.
- There are no delays in payment.
Since any bank needs good borrowers, it prepares and sends new offers with lending programs to existing and conscientious customers. And the client, based on an assessment of the possibilities and forces for repayment, can decide for himself whether he needs to get a loan or not.
Filing an application
First you need to carefully read the offer. Indeed, each program has its own conditions: amount, rate, terms, etc. If the client is happy with everything, you need to apply for a loan, after consulting in advance about the necessary package of documents. In many banks, you can apply for a loan both in branches and by phone. And only if a positive decision is made, it will be necessary to go to the department to sign a loan agreement.
Often pre-approved loan, which is issued according to the passport. In this case, conditions that are not entirely favorable for customers are offered, but loans are issued quickly and without collecting additional documents. Such a service is especially relevant when money is urgently needed.
Solvency check
When issuing a loan there is a risk of non-repayment, therefore banks comprehensively check the client. The following methods are used for this:
- Request to BKI (Bureau of Credit Histories). According to this information, it will be possible to assess the borrower's obligation regarding debt payment.
- Questioning. This paper allows you to evaluate the solvency and solvency.
- Personal meeting. The final decision depends on the borrower's impression on the bank specialist.
- Analysis of documents. Their list varies from bank to bank. But each will certainly require a general passport.Often, you need to add a work book, a certificate of 2-personal income tax, papers on property, etc.
- Actual solvency rating. For example, bank specialists can call the number that is designated as a worker. They can also visit this organization to verify the data in person.
Only after these steps is a final decision made. According to this scheme, most financial institutions that do not want to take risks operate. It is important for the bank to make sure that it concludes an agreement with a solvent and conscientious client.
Revocation Approval
If the loan is pre-approved, can they refuse? Even after that, a negative decision can be made. The main reason is considered incorrect or untruthful data provided by the borrower initially. For example, if the application was submitted via the Internet, the applicant indicated that he was 21 years old, but in fact 20. This is untrue information, so the refusal will be mandatory.
Rejection of the application may also occur for the following reasons:
- Incorrect passport data. When making a request, you need to carefully check all the information.
- False job information. For example, the applicant indicates one income, and in statements from the accounting indicated otherwise.
- The bank has detected fraud or forgery of documents.
- Collateral securities are not legally clean or it does not meet the requirements.
- The borrower cannot prepare the documents required for the final approval of the application.
If the loan is pre-approved, will it be given? It will be issued if the client provides reliable information and necessary documents. Then you can safely go to the bank to sign the contract.
Terms of approval
If the loan is pre-approved, what next? In this case, you must allow the bank support service or personally visit the branch. Only then will it be possible to find out detailed information on the proposal, as well as get a final decision.
Judging by the reviews on the network, a failure may not follow immediately. Sometimes borrowers are offered:
- Increase payment term.
- Reduce the amount.
- Find additional sources of income that can be confirmed.
- Invite guarantors whose earnings will be taken into account in calculating the size of the loan.
- Pledge property.
Documents
The list of documentation in each institution is different. If the application is filed with an MFI, then often there loans are issued according to the passport. In banks of other regions, as a rule, a second document is required. A standard package of documents looks like this:
- Passport.
- The second identification document.
- Help 2-PIT.
- Certificate of employment.
They must be provided in the originals. An education certificate should be prepared to increase the likelihood of approval. But the basis is the above 4 documents, allowing to confirm the reliability and responsibility of the client.
Recommendations for borrowers
Even if the loan is pre-approved by Sberbank or another financial institution, this does not mean that the loan will be exactly received. Banks carefully study information about borrowers during visits to offices: check for fraud, examine the authenticity of documentation, look at the appearance.
If the application is approved, then you need to thoroughly prepare for a visit to the bank: put yourself in order. In the office, in addition to a careful study of appearance, they still ask various questions. For example, about the place of work. Therefore, when applying, especially online, you need to carefully check the entered information, especially for the presence of simple errors.
How to approve a mortgage?
Based on the mortgage lending program, the bank always provides an answer that the loan has been pre-approved. But, in fact, a mortgage is approved after passing through the following steps:
- Submission of application. For this program, you need to prepare income information, the spouse who will be the co-borrower, and other mandatory securities.
- After checking the data, a preliminary decision is made. If it passes approval, then the registration procedure begins.
- Usually about a month is provided to receive information about housing. This can be a paper for renewal of ownership, an appraiser’s report, a certificate, a deposit receipt, an extract from the account on the first installment, etc.
Often there are situations when the previously selected housing was bought out or the client was suddenly refused to sell it. There are also problems with registration or registration. It even happens that the object does not fit the requirements set by the bank.
So, based on the foregoing, prior approval of the application is still not considered a guarantee of receiving money. The final decision is made only after a personal visit to the department and the provision of the necessary documents.
