Without a doubt, the rise in interest rates by the European Central Bank has directly affected mortgages. This has made mortgages more expensive and the requirements to access them have become more demanding . If you have made the decision to buy a home, first of all you must have. A healthy economy and be prepared for this very important process. It is easy to make certain mistakes when applying for a mortgage due to lack of information or poor advice. This can mean that, when it comes time to get to the bank, it will reject the mortgage . To make this task a little easier and so you don’t waste your time, here we will tell you what the most common mistakes are, so you can soon enjoy your new home. Apply for a mortgage with a single owner Unless you have a very high income, banks are reluctant to approve mortgages with a single owner. The reason is very simple, if you lose your job, you will have no way to pay the monthly mortgage payments. On the other hand, if you decide to apply for a mortgage as a couple.
An unstable work life
Although being very old is an obstacle when applying for a mortgage. The reality is that being very young is also an obstacle. The reason is that it usually indicates that the youngest people have little work experience, or that their income is Sweden Telegram Number Data generally insufficient. Although a large number of banks assure that they take into account the circumstances that people in their s go through, everything that is outside the indefinite contract is generally left out. This is why it is difficult for this age group to access mortgages. Not having savings You must have the necessary savings when purchasing the home. The bank offers a maximum financing of of the total value of the home in most cases. This means that you will have to save the rest . This is, in addition to the remaining , an extra for mortgage expenses . These are the expenses derived from the signature, for example, those of the notary, appraisal and taxes.
Buy a home that exceeds your budget
If purchasing the home you dream of is the reason for applying for a mortgage. But it exceeds your budget , it will be better to look for an option that better suits your situation. You will have to create a budget to avoid mistakes , since you do not really know how your life may go in a few years. Remember that a mortgage is a long-term commitment. It is advisable to act prudently and opt for a home that meets Korea Email List your expectations, but does not imply an excessive financial effort . Don’t turn the purchase of your new home into a problem that will haunt you for years. Not having the necessary documentation Buying a home and, therefore, signing a mortgage, is usually a quite tedious bureaucratic process. You must make sure to previously gather all the documentation that the bank will request. In many cases, people have expired DNI without realizing it and, for this reason, the entire process is delayed . The employment contract, payroll, working life and the last income tax return are essential , you should always have them at your fingertips, both on paper and digitally.
