Every family wants to have their own housing. This fact is the main driver of growth in demand for loans for the acquisition of real estate. Indeed, not every family budget can allow people to immediately buy an apartment. In such situations, a mortgage is very helpful. Many banks offer for young families and not only very favorable credit conditions.
Often, the interest rate on such programs is much lower than ordinary consumer loans. This is due to the fact that financial institutions in such a transaction almost do not risk anything. Such loans are secured in the form of real estate, which in case of non-payment of the debt will become the property of the lender.
According to statistics, most Russians apply for a home loan in Sberbank, not unreasonably considering it the largest and most reliable lender. Unfortunately, practice shows that not all applications for issuing mortgages are satisfied. And sometimes even without indicating reasons. How to find out why Sberbank refused a mortgage? What to do in case of failure? These and other questions will be studied in this article.
What should I know before applying for a loan to buy a home?
Any potential client who wants to take a mortgage is worried about a number of questions:
- can he get it;
- how often the bank refuses to provide such loans;
- what are the reasons for the refusal;
- what requirements a suitable borrower must meet and more.
Knowing the answers to all these questions, you can significantly increase your chances of obtaining a loan for the coveted housing and understand what to do if you were refused a mortgage at Sberbank.
What could be the reason?
When considering applications for a large loan amount, the bank is not only interested in the size of the client's salary. There are frequent cases when even with a stable and high level of income, a potential borrower is refused. Even at first glance, insignificant things can lead to a person not being approved. Examples of the main reasons for the refusal of a mortgage in Sberbank:
- inaccuracy of information provided by the borrower;
- the impossibility of conducting an audit on the received documents;
- lack of demand on the market for pledged real estate;
- the borrower has health problems;
- the presence of any tax arrears, fines, etc .;
- criminal record, including probation;
- indecisive behavior of a potential borrower in consultation with a credit manager.
A similar list describes the common reasons why Sberbank may refuse to grant a loan. But along with them there is a certain range of factors, the presence of which will indicate a 100 percent probability of failure.
Insufficient client ability to repay mortgage payments
The first thing that interests a financial institution in a loan holder is the amount of its monthly income. Often this is the main reason for the refusal of a mortgage in Sberbank. To obtain this information, the institution also requests documents such as a 2-NDFL certificate or a certificate form from the head of the organization where the borrower works.
In accordance with the average level of salaries in the country and prices for accommodation and real estate, not every family can pay monthly contributions from 15 to 40 thousand rubles. The situation is complicated by the fact that Sberbank does not take into account all of the borrower's received income.It is reduced by almost half (deductions for accommodation, payment of various obligatory payments, maintenance of family and children, etc.).
Therefore, in order for the bank to consider the client creditworthy, its salary must exceed monthly payments at least twice. Otherwise, Sberbank will be denied a mortgage.
What to do next? Trying to solve this problem is only one way - to make a larger down payment for housing. Then the amount of monthly payments will automatically decrease. Thus, manipulations with the size of the down payment can help to adjust the solvency level of the potential borrower.
Soaked Credit History
According to the credit history, you can track how timely the person who made the request for a mortgage repaid his obligations in the past. This aspect is being studied by a customer service with a particular passion. If in the past there were any delays and penalties, at the stage of such verification they will be identified and will serve as the reason for the refusal of a mortgage at Sberbank and other banks. This kind of information is stored for at least 15 years. It is also undesirable that at the time of filing the application for the client, other loans are listed.
In the absence of a credit history, it is also better not to count on obtaining a mortgage. Sberbank will regard this situation as an opportunity to conclude a deal with a person whose reliability is not known. This situation is easy to fix by taking a small consumer loan for a short time. Then it must be paid regularly, even a little earlier than the specified deadline, thus imitating the behavior of a bona fide loan holder. But it’s important not to overdo it with premature repayment of payments, since the security service can subsequently regard this as an attempt to artificially increase the client’s rank.
If in the credit history there have been periodic loans for small amounts, Sberbank may consider this a signal about problems with the creditworthiness of the client. Thus, a reliable credit history can play a leading role in approving a mortgage application.
Falsification of information provided
Even if the borrower suits the bank in all respects, it may be denied a loan. The reason may turn out to be completely unexpected - typos or incorrect filling of the provided documentation. Incorrect data display makes any document invalid.
Sberbank employees are often faced with a situation of fraud when applying for a mortgage. Often this applies to certificates of non-existent work or income that substantially exceeds actual wages. Such things are immediately identified when authenticating documents. The easiest consequence of such a deception may be a refusal to grant a loan. In addition, bank employees can make a statement to the investigating authorities on the fact of fraud, since falsification of documents is a criminal offense.
It’s impossible to find out why a mortgage was refused at Sberbank. The law does not provide for the obligation of a financial institution to explain the grounds for a negative decision regarding the issuance of a housing loan.
Portrait of an ideal Sberbank borrower
An application for a mortgage may not even begin to be considered if the person who submitted it does not meet certain parameters. According to such indirect signs, the bank cuts off potential defaulters. Although in fact, in some cases, such a dropout may be erroneous. Sberbank is ready to consider the possibility of issuing a mortgage in respect of those individuals who have:
- minimum continuous seniority at the last place of work - six months;
- age from 21 years to 75 years;
- cumulative minimum working experience of 1 year for the last five years.
Sberbank will consider applications accepted from such clients without fail.However, this does not indicate that they will be approved. After this stage, the bank will consider many more parameters, based on which it will make the final decision.
Denied a mortgage at Sberbank: what to do?
Despite the urgent need for a loan, a financial institution, guided by its internal regulations, may refuse to conclude an agreement and issue a loan. What to do in this situation and what to do if a mortgage is refused at Sberbank? The best thing you can do is to continue to behave correctly and adequately. Do not insist on demanding an explanation of the reasons from the loan manager. He is not required to do this. Only on personal initiative can he briefly indicate what is the matter and what needs to be adjusted in order to get a positive solution.
It should be remembered that the refusal of a mortgage cannot be final. You can always refine the weak points and once again send a request. The situation will be greatly simplified if the cause of the refusal is known. So, the direction in which to work is immediately outlined.
If the rejection was received due to the low demand for the selected property on the market, then it is worth finding a liquid asset. In other cases of failure, a certain range of work will have to be done.
Restoring credit reputation
Even in the case of repayment of previously taken loans in good faith, no one is safe from residual debts hanging on the balance sheet. They can arise both due to errors in the technical system, and due to incorrect calculations of bank employees. If for this reason the Sberbank was refused a mortgage - what should I do? It is better to identify the presence of such points before applying. But there is nothing stopping this from happening again. To do this, you will have to make repeated requests to credit institutions that previously issued loans to the borrower.
If a valid partial non-payment of a loan is revealed, then it should be repaid in order to restore the reputation of your credit history.
Strengthen your own financial well-being
The second effective advice on what to do if Sberbank refused a mortgage is to improve the financial situation of the borrower. This can be achieved in several ways. The simplest of them is to find more profitable earnings.
You can also try to attract solvent guarantors or increase the down payment, because in this case, subsequent monthly payments will be charged less and the available income may be enough to cover them.
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Sberbank refused to restructure mortgages - what to do? It is important to remember that this is not the only possible lender. It is worth considering several possible lending programs. Other banks may have more loyal requirements.
However, such treatment must be done carefully, because these actions can cause another failure. Banking analysts who check the client, if excessive activity is detected, assess this fact negatively. It is recommended that you do not submit more than 5 applications for a loan.
Conclusion
Refusal to grant a mortgage at Sberbank is not a sentence. In most cases, this is just an excuse for finalizing documents sent containing errors and inaccuracies. It is worth paying attention to filling them out. In this case, if you have good and stable earnings, the probability of being on the list of refuseniks is minimal.
