I get a problem from a person looking for a home loan, based on some data comparable to those that I will comment (change parts to take care of privacy):
I want to apply for a home loan to buy me a house associated with 100, 000 euros.
I also want liquidity to group a personal mortgage that I have and cash to pay the appraisal plus furnish the house.
My income is adjustable
What I think will be the last straw, falling the one which is falling, with a large number of evicted families, is that an individual can think of asking for a mortgage without having savings and a steady job with solid earnings.
If you have unsecured loans or in your checking account you will find not several thousand euros conserved, you will not get a mortgage. However it is no longer that banks don��t have liquidity, it is that they must not even want to buy a house.
Until his scenario has substantially improved
To the applicant, in specific manners, I have explained that he don’t seek to buy a house till his situation has considerably improved; For your own good. We all run the risk of not studying anything. Prudence must be the particular virtue that anyone offers when it comes to asking for money from the bank.
Banking institutions do not know how to analyze danger well, unfortunately. If a financial institution gives us a mortgage, it shouldn’t mean we can pay this at all. We must be the types who learn to analyze our own present and future transaction capacity. And if this task appears too complicated, let’s never ever ask for a mortgage.
There is a lot of information offered to the mortgage client
From the biased but helpful guide to access the home loan of the Bank of The country of spain, to my biased but helpful (I hope) book ‘ The guilty bank ‘. Or one dedicates energy to know what it is and what the implications are to get mortgaged, or better never request money from a bank. The main one who warns is not the traitor. In the following display you can see the basis of the home loan risk analysis.