In the event of a negative decision to grant a loan, Sberbank is not obliged to explain the reasons. However, the borrower can assess his chances even before applying for a mortgage. To do this, it is enough to analyze the most probable reasons for the refusal.
Stable income and a positive credit history are not a guarantee that Sberbank will not refuse to issue a mortgage. The main reasons for refusal can be divided into five groups.
1. Non-compliance with standard requirements
Borrowers are subject to the following range of requirements:
- age - from 21 years;
- age at the time of loan repayment - up to 75 years
According to the banks' estimates, only 7 out of 10 borrowers receive a positive answer on the provision of a loan.
- work experience - at least 6 months at the current place of work and at least 1 year of work experience over the last 5 years; if the borrower changes jobs frequently or has "gaps" in the work history, this also negatively affects the likelihood of loan approval;
- provision of a full range of documents. Inaccuracies in the loan application form or the provision of an incomplete list is one of the reasons for refusal. It should be borne in mind that the provision of inaccurate certificates of income threatens not only with refusal of a mortgage, but also being included in the black list. In this case, the loan to the borrower will not be provided not only in Sberbank, but also in all other banks.
2. Bad credit history
The most likely reason for refusal is the borrower's bad credit history, which is kept by the Credit Bureau. It can be damaged if the borrower does not pay the loan on time, or if the loan is unpaid, where he acted as a guarantor.
The list of documents requested by Sberbank for a loan varies depending on the mortgage program. In most cases, these are identity documents and proof of income.
The reason for the refusal may also be the fact that the borrower in the recent past took out a loan for an inexpensive item, for example, a mobile phone. This makes the bank question its solvency.
3. Low solvency of the borrower
The bank's decision is influenced by the requested amount and the level of debt burden. So, a positive factor is the presence of an initial payment and the level of income of the borrower, as well as their stability. The bank also takes into account the number of dependents in the care of the borrower.
In some cases, the bank may recommend a higher down payment or lengthen the loan term to reduce the monthly payment.
4. Unsatisfactory assessment of the selected property
The real estate purchased in the mortgage (or the one that is the object of the pledge) must be liquid, and the documents of property rights must be drawn up in accordance with all the rules. The reason for the refusal may be the negative reputation of the real estate sellers.
Usually the bank recommends borrowers to find another object.
5. Other reasons
There are a number of other reasons, usually they are not the main reasons for refusal, but are considered as a complex. Among them:
- level of education (priority is given to borrowers with higher education);
- criminal history, the presence of offenses (convictions);
- availability of loans from other banks;
- parallel application for a mortgage to other banks;
- getting a refusal in other banks;
- a salary that does not correspond to the average statistics;
- frequent job changes or a suspiciously fast career takeoff.
