Credit accepted every time: How to get it?
To buy real estate, a car or start a new professional activity, applying for a loan can be interesting. However, it is not uncommon to have your request refused, without always understanding the precise reasons. To avoid these inconveniences and see your credit application accepted, we suggest you follow four key tips.
Clean up your bank account
Each year, many French people wish to borrow funds to finance their various personal and professional projects. However, many of them are refused by the credit organization . To avoid this type of disappointment, it is recommended to clean your account before any request.
Indeed, the banks carry out an inspection with a fine comb of the last three or six statements to date. Also, be sure to avoid exceeding the authorized overdraft or rejecting a direct debit during the period preceding your request. The goal is to have a stable and reliable base to avoid raising the slightest doubt about your management.
Wait until you have a stable professional situation
Among the reasons for loan rejection encountered, the unstable professional situation of certain applicants is frequently the cause. Indeed, to reassure your banker, it is essential to justify stable and sufficient income. These should allow you to repay your monthly payments without hindrance.
Today, everyone knows that the permanent position is the grail of the applicant. However, be aware that a CDD or an interim contract are sometimes tolerated in the event of a loan of small sum of money . If you are applying in pairs, it is important that at least one of the borrowers is on a permanent contract, in liberal profession or retired. If so, it is highly likely that your request will be rejected.
In terms of income, note that a remainder to live per person is essential to see his loan application accepted. This sum corresponds to the monthly remainder available for each person, once the housing charges have been deducted. To avoid any refusal, wait until you have a stable contract and a sufficiently comfortable salary.
Build up a comfortable intake
To avoid loan refusal, there is nothing like sufficient personal contribution. Proof of your good faith, it will also help pay notary, guarantee or file costs. This contribution is all the more essential as you apply for a mortgage. Concretely, the ideal is to consider 10% of the total amount borrowed. Thus, you will benefit from a much more interesting rate.
Note that some establishments offer to finance the famous 10% through certain specific mortgage loans. However, the latter prove to be very unprofitable, with a much higher rate than those of conventional loans. In terms of loans, you guarantee yourself better chances of success by sticking to the typical profile sought by funders.
Ensure you have a sustainable debt ratio
While some loan eligibility criteria may lack transparency, others are well known. Among them, the debt ratio is a crucial element of your file. Also, it should be calculated beforehand, in order to formulate a clear and admissible request.
Note that from one banking institution to another, the rule applied may vary. In most cases, it is imperative to justify a debt of less than 33%. However, the acceptable rate can go up to 40 or 50%, depending on the type of loan requested and the amount borrowed.
In practice, the monthly repayment installments of a loan should not exceed one third of the monthly net income. If you are considering applying for new credit, while you have more in the pipeline, be especially careful. To avoid being refused, the ideal is to repay all your credits before making a new request.
If you have any doubts, you can definitely call on a broker. Among its main missions, it will gladly assist you in establishing an irreproachable application file.