To get a secured loan, you need to prepare in advance. The most important stage of preparation is the assessment of the property by an independent expert.
Appraisal is a professional activity that is strictly regulated by law. For this, there is Law No. 135-FZ "On appraisal activities in the Russian Federation" and federal appraisal standards. Some banks also have their own standards, which you should familiarize yourself with before calling an appraiser.
The assessment services are paid for by the borrower. The following documents must be prepared for the specialist:
your passport;
cadastral passport of the object;
certificate of ownership.
During the work, the appraiser may request other lithuania mobile database documents, such as a floor plan of the house. The specialist conducts an analysis and writes his conclusion: it must indicate the market value of the property. This conclusion must be submitted to the bank.
How to increase the likelihood of approval
Although banks are more willing to approve secured loans, they still have some restrictions. For example, a borrower with a high credit load simply cannot be given another loan. By law, the total amount of payments on all loans must not exceed 50% of the borrower's monthly income.
To prepare for a large loan and increase your chances of approval, try to do the following:
Check for outstanding utility debts, unpaid traffic fines and other debts. If there are any, they must be paid off before submitting an application to the bank.
Close credit cards you don't use. They appear on your credit history and are considered to be paid monthly. The bank may misjudge your credit load and refuse to issue a loan.
Pay off small loans or consolidate them into one. This will reduce the amount of monthly payments and increase the chances of approval.
Is it worth taking out a loan secured by real estate?
If you need an amount of up to 3 million ₽ and you can pay a large monthly payment, you do not necessarily have to take out a secured loan. At Bank Sinara you canget a loanup to 3 million ₽ without collateral or guarantors. To apply, you only need a passport and a document confirming your income.