Are you planning a mortgage? Be careful that you get the complicating existing commitments
From all sides you hear how great it is to have your own home? It's definitely true. Why pay rent to someone else when you can pay the same bank, but at some time you live in your own way? Or you can go straight into building their own house. A mortgage is also advantageous in 2013. At the apartment, a house or to finance new construction. But you will do your income? And is it possible to take a mortgage if you pay off consumer credit? Yes, it works. All this is necessary to compute but before you apply for a mortgage. Not to conceal anything. Nor is it because the banks have the opportunity to inspect various registers and are able to find all of your expenses from closed or planned loans.Thus, they have a very good overview of what your creditworthiness or ability to perform its obligations.
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Which expenses - loan repayments Banks usually considered
- Consumer loans
- Other mortgage loans
- Construction loans
- Credit Cards
- Guarantor's obligations
The basis for determining the creditworthiness of the client's net income minus any alimony, leasing, insurance and loan repayments. The expenses shall be reckoned installment consumer loans, mortgage loans and other savings. Without this information, the bank for a mortgage application or fails to approve his leadership. Other repayments of existing or future repayments of loans from overdrafts, credit cards and bank guarantor's obligations, however, approach a little differently. That is a loan that the client may not even use. It has a credit card, but it will not collect, so no credit will eventually pay off. A mortgage with such commitment does not count.
Which bank liabilities included in other loans
- Overdraft (Czech Savings Bank, Commercial Bank, UniCredit Bank, Volksbank CZ, Equa Bank)
- Credit cards (Czech Savings Bank, Commercial Bank, UniCredit bank, Volksbank CZ, Equa Bank)
- Guarantor's obligations (Czech Savings Bank, Volksbank CZ, mBank limited)
- Which banks do not count those obligations (Mortgage Bank, Raiffeisenbank, Wüstenrot mortgage bank, mBank for overdrafts and credit cards, LBBW Bank in Equa guarantor's obligations)
If you have irregular, but sufficient revenue problems does not make you use an overdraft or credit card. It's practical and comfortable, even if the amount you have to repay, including higher interest rates.For you will be advantageous to submit an application for a mortgage loan with banks, these loans do not count in creditworthiness. These financial institutions will find it easier mortgage possible. And what is the installment amount by which of these loans will increase your expected expenditure? For example, at the UniCredit bank overdrafts counts 6.6 percent of the total credit line, at Volksbank and Equa bank's 5 percent.
Banks have a really good track of your spending and repayment ability. Mortgage is not the only product that find your creditworthiness. Banks used mainly Bank register of client information(CBCB or CIBR), which reports on your credit score and credibility. It contains not only information on existing loans, but also those that were rejected. When a bank assesses your application for a mortgage, and wants to know your credit and payment history. And it is from CBCB know.
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