The process of studying the loan application
The process of studying a home loan starts at the very first meeting with your banker. It will be responsible for establishing a simulation from the first elements that you provide.
If necessary, it will establish in a second time a more precise financing study which will constitute its doubt its proposal. If it catches your attention, it will then be responsible for gathering all the necessary documents for the risk analysis of your loan file by the commitments department .
The documents requested by this service concern both the acquisition of your home and your financial and heritage situation. Remember that you will need to provide:
- Copy of the sales agreement
- Last tax statement
- Last 3 bank statements
- Last 3 payslips
- Proof of address
- Proof of personal contribution
- Copy of an identity document
- In case of zero interest loan: copy of the lease and certificate of the owner indicating the dates of entry and exit.
A risk analyst will screen all elements of your application and determine if it is admissible.
In case of agreement, the bank will prepare a preliminary offer of loan that it will send you by registered mail with acknowledgment of receipt. You can return it after a reflection period of 11 days. This period starts from the day after receipt of the bank offer.
It is this work of analysis and publishing offers that justify the vast majority of charges levied by the bank .
A very variable amount from one bank to another
The amount of the costs of a credit file obviously depends on the banks to which you are addressing. Know that they can vary from single to triple.
The rule generally applied by most lenders is to take 1% of the loan , capped at a certain amount so as not to penalize those who borrow large amounts.
It can however be estimated that for an amount of € 150,000, an amount of € 600 constitutes a maximum.
Some exceptions concern subsidized loans such as the brand new with effect from 1 January 2013, the employer loanfor which the regulation imposes a total free charge .
If financing costs have a smaller impact on the overall cost compared to other criteria such as the rate or insurance premiums, do not neglect this point, especially if you have a personal contribution and comfortable income.
Do not hesitate to negotiate the amount of the costs of your mortgage as you do for the other elements. A successful negotiation requires to discuss point by point his request.
We also advise you to compare the overall effective rates of each of the proposals made to you.