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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 old;
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;
Providing 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 income statements threatens not only with refusal, 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 the 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.
4. Unsatisfactory assessment of the selected property
The acquired real estate (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.
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:
Educational level (priority is given to borrowers with higher education);
Criminal history, the presence of offenses (convictions);
Availability of loans from other banks;
Parallel application to other banks;
Receiving a refusal from other banks;
Salary that does not match the average;
Frequent job changes or a suspiciously fast career takeoff.
In the event that Sberbank refuses a mortgage, the client of a financial company has a natural question, why did this happen, and what needs to be done so that the refusal does not happen again. So, let's take a look at the most common reasons for mortgage refusals.
Reasons for refusing a mortgage
Most residents of Russia, when choosing a bank that issues funds for a mortgage loan, give preference to Sberbank. And this is not surprising, because this financial company is not only popular and respected, but also offers favorable conditions, has the support of the state, thanks to which the organization offers many state programs, and, which is very important, has many branches throughout the country.
However, this financial company, with its loyal attitude towards clients, may reject the borrower's application. Naturally, the client is interested in why this happened.
Before you start scolding bank employees, carefully read the requirements requested by the financial institution. This can be done both on the Sberbank website in the "Mortgage" section, and by calling the hotline 8-800-555-55-50, or in one of the branches of a financial company.
Non-compliance with requirements
As mentioned earlier, one of the most common reasons for mortgage refusals is non-compliance with the requirements... Let's give a concrete example.
In 2018, the State Program was launched with the most favorable condition of 6%, aimed at supporting families. However, it is designed only for those families where the second and third child was born in 2018. Accordingly, if your child was born, for example, on December 31, 2017, then you will most likely be denied a mortgage.
Insolvency
Often people are rejected already due to the fact that they have low income... Accordingly, potential clients of the bank have a natural question - what should be the earnings to take out a mortgage? Income must be at least 2 times higher than a one-time loan payment. That is, on average, it is 20-25 thousand rubles.
Do not despair that you have been denied a mortgage due to low profitability - it may be worth convincing the lender that you are indeed solvent. To do this, a financial organization can be provided with a passport with a mark about leaving the border, a debit account with savings, or a lease agreement. If the bank stubbornly refuses to approve the application, then perhaps the reason is not at all low income.
Credit history
A negative credit history can contain penalties from a financial institution, unpaid debts, loan delinquencies, and so on. It is reliably known that Sberbank does not work with clients who have a negative credit history. However, do not despair. If you urgently need funds, you can contact another bank, but be prepared for the fact that the interest rate will be much higher.
In addition, you can correct your negative credit history - then Sberbank will easily give you funds for a mortgage.
Problems with documents
This is especially true for counterfeit papers, or incorrectly filled in personal data in the application. Remember that a mortgage loan is, as a rule, a fairly large loan, and therefore the bank will thoroughly study all the documents on it. If the financial company finds a deception, then this will certainly be rejected. Therefore, be as careful as possible when filling out the application. And is it worth talking about the fact that if fake documents are found, the bank has the right to contact higher authorities?
Debts
A financial institution may also refuse if you have previously taken out, but not yet paid loans. Therefore, even if you have a high enough income, it may not be enough to pay off all the loans. Try to pay off at least part of the previous debt, and only then apply for a mortgage to Sberbank.
Health status
If you have serious health problems, such as diabetes, oncology, and so on, then you will most likely be denied a loan. For the bank, such cooperation carries certain risks, and therefore no organization wants to cooperate with a client who may not be able to pay his debts in the future.
Real estate problems
Most often, the purchased housing is used as collateral on a mortgage, and therefore it is important that it be liquid. In other words, if the bank's client cannot pay off his debt, then the financial company should easily sell the house. That is why a bank client should purchase normal housing, without any unauthorized redevelopment, so that the apartment or house undergoes an examination. The purchased housing should in no way be in a dilapidated or emergency condition.
Other reasons
There are many other reasons why a bank may refuse a loan. So, for example, if a person is not officially employed, then he may not be approved for a loan. In addition, according to the rules of Sberbank, a potential client is in his last place of work must have worked for at least half a year.
Another reason for refusal is the lack of citizenship or permanent registration. By the way, a mortgage can also be issued for a temporary registration, but only for the period during which this registration is valid.
Also, a potential client may be denied due to a criminal record or age that does not fit the terms of the loan. If a person is too young or, conversely, too old, then he may be refused a loan.
By the way, they can refuse even in the absence of education or if you are an employee of certain professions - for example, a realtor or an individual entrepreneur.
How to find out the reason for refusing a mortgage from Sberbank?
As mentioned earlier, according to the law, the bank has the right not to disclose the reasons for the refusal, which most often happens to Sberbank. Of course, you can try your luck with a bank employee and ask him about the reasons for the refusal - perhaps the specialist will inform you about the reasons for the refusal.
What to do in case of refusal?
We will analyze how to act if you were denied a mortgage from Sberbank.
Can I reapply for a mortgage at Sberbank?
If a loan is denied, no one will stop you from applying again, which most often happens. However, it makes no sense to apply again if you are going to go to the bank with the same package of papers. Try to submit documents in a way that will show you a better option.
How do you assess your chances?
Try to check the bank requirements again - maybe you missed something? If you meet all the requirements of the bank, do not have a criminal record, serious illnesses and negative credit history, then the mortgage loan will most likely be approved for you.
How to increase the chances of mortgage approval at Sberbank?
If at least one item is found that you can not go through, then it needs to be corrected. So, for example, low wages can be corrected with the help of additional collateral or co-borrowers, damaged credit history - with a loan from another bank or the "Loan Doctor" program. And if you have any debts on loans, then it is advisable to pay off all the debts.
More details about why mortgages are refused can be found in the video
Not all clients and not all banks approve mortgages. In this case, the reasons for the refusal are not announced. This also happens in the largest and most famous financial institutions. If Sberbank did not approve the mortgage, you should try to understand why this happened on your own. Then it will be easier for the client to get the bank's approval.
How to find out the reason for refusing a mortgage from Sberbank
Some clients (sometimes even salary ones) are faced with the fact that Sberbank refused them a mortgage. Banking institutions have a list of the main reasons why they do not issue loans. The main thing for a bank is to protect itself. The bank refuses to clients posing a risk, especially in such long-term cooperation as obtaining a mortgage.
Sberbank is a large organization and can afford the risks, but it will not approve an agreement with a client that does not meet certain requirements. To find out the reason why the bank refused a mortgage, go through the basic requirements and understand which of them you satisfy to a lesser extent. Most likely, it was this factor that influenced the outcome of the decision.
Why credit history is important
The first and most important way to find out why Sberbank refused a mortgage to a payroll client is to check your reputation as a borrower.
The bank does not tell customers why the refusal occurred, but it is tacitly believed that the first main reason is bad credit history.
Sberbank scrutinizes previous customer stories and checks whether they were good borrowers.
In fact, unreliable persons already know about their compromising actions:
- Delays in payments and penalties.
- Late payment of current and past loans;
Credit histories are stored in a special database called the Bureau of Credit Histories. The consultants of the bank, where the mortgage application is submitted, carefully study it. Based on the results of this study, a verdict is made.
You can find out your credit history yourself for free once a year. To do this, clarify in which credit bureau your data is stored. In order not to waste time, you can immediately contact any major bureau - national or Equifax, clarify the code and at the same time get a credit history (the last bureau allows you to get it remotely).
It is possible to improve CI with the help of an ordinary small consumer loan, for example, this is offered by Sovcombank.
Low income and outstanding loans
What else can be done if the mortgage is refused by Sberbank? Check the level of wages. According to the rules, the payment cannot exceed 40% of the salary level.
Sberbank does not impose requirements on the length of service of salary clients, and documents confirming the financial condition are valid for 30 calendar days.
The second main reason for refusals on mortgages at Sberbank is the high credit burden on the budget. If you have outstanding loans, you are more likely to be rejected.
In this case, attracting co-borrowers will help to rectify the situation (Sberbank allows up to 6 individuals to be attached to the agreement) or lowering the credit limit (reconsider the type of real estate or try to increase the initial payment at the expense of other funds).
Analyze everything again, maybe you fit one of them.
Non-compliance with bank requirements
If Sberbank refused a mortgage, the second thing to do is to check the package of documents and find out if they are the root of evil?
The reasons for the refusal are as follows:
- Incomplete package of references;
- Inaccurate information;
- Common mistakes (typos) that distorted the text not in your favor;
- Expired or invalid documents.
An important factor for a bank to approve a mortgage is the client's health and age. If a potential borrower is too young (18-25 years old) or too old (over 60 years old), then the bank will not risk it.
If the borrower has health problems, a disability or a serious chronic illness, the bank may refuse to issue a mortgage, especially if voluntary insurance is refused.
Unfortunately, the bank always simulates situations with a negative outcome, and if some of the client's errors can be corrected, then his death cannot.
What if Sberbank refused a mortgage? If the borrower realizes that the reason is his age, it is worth contacting other banks. There are also preferential offers for disabled people.
Can salary clients be refused
In fact, Sberbank's salary clients do not enjoy special privileges when considering applications. All they are entitled to is a possible discount to the interest rate and a simplified procedure for filing documents. Sberbank has the right to refuse, and refuses to mortgage salary clients on the same grounds as ordinary citizens, clients of another bank.
What to do if the bank has not approved the mortgage
It is unpleasant for any client to receive a refusal from the bank, but this is not a reason to change the decision. What to do if Sberbank refused a mortgage?
You will never know for sure why the bank did not approve a targeted loan for you, however, having corrected the situation in those places where there are shortcomings, it is possible to reapply.
You should not focus only on Sberbank, but apply for a mortgage to other organizations.
Ultimately, mortgages of many banks can be more profitable than in Sberbank - these are Globex Bank, and Gazprombank, and Unicredit Bank, and even more and more loyal every year.
What is the bottom line
If Sberbank has not approved the mortgage, do not be upset. It is unlikely that you will be able to find out why this actually happened. Reviews show that the final overpayment in Sberbank, taking into account all insurance payments, is as profitable as the mortgage conditions of other banks are. The bank's salary clients do not enjoy special benefits and are refused for the same reasons as other borrowers.
Before trying to rectify the situation (improve your credit history, get a certificate on the tax form without real chances, etc.), assess how appropriate your efforts will be. Perhaps the best solution would be to change your financial partner.
Many citizens believe that they can easily get a mortgage loan. Overconfidence often ends up rejecting the application. The reasons for refusing a mortgage at Sberbank may be different. The Credit Committee sets rather stringent requirements for borrowers, which are periodically changed and updated.
Why did Sberbank refuse a mortgage? Home loan applications are rejected for the following reasons:
- The collateral does not meet Sberbank standards;
- The borrower receives a low official salary;
- The potential client has problems with the law;
- The applicant has a bad credit history and is a participant in enforcement proceedings;
- The counterparty did not pass the credit interview due to inappropriate behavior, questionable appearance, alcohol intoxication, etc.
Some citizens who have applied for a loan are not in the age range of the mortgage program. If a person is not a citizen of the Russian Federation, then he will not be able to get a mortgage. A home loan is putting serious pressure on the family budget. A mortgage loan presupposes the presence of several co-borrowers who will be jointly and severally liable for the financial obligations of the title borrower. If the counterparty cannot attract solvent co-borrowers, then he will receive a low scoring score. This circumstance will become the reason for the refusal of a mortgage at Sberbank.
Some people who filled out a mortgage application have less than 6 months of work experience. Sberbank managers give preference to borrowers with long-term work experience and a permanent job. A quick change of employers and a short length of service often become the reason for the refusal of a mortgage.
The Sberbank security service thoroughly examines the Internet for negative information about the applicant. A special program is installed on the servers of a credit institution that collects data about a person in the global network. Each applicant receives a rating that has a direct impact on the scoring assessment of his solvency. If a person listens to chanson, posts photos from stormy feasts and is a member of criminal electronic groups, then he will not be given a mortgage.
Some clients refuse to insure the collateral object. According to the current legislation, the borrower is obliged to buy a policy that insures the risk of loss and damage to the mortgage apartment. If a person does not do this, then he will not be able to improve his living conditions. Each bank has a so-called stop list, which contains negative information about applicants. Credit institutions periodically exchange information that is in unofficial databases. Applicants who are on the stop list will be rejected and will not be able to take out a loan.
Why does Sberbank refuse a mortgage? If a person has a large debt load, then Sberbank employees will quickly find out about this. Do not hide the presence of consumer loans and microloans from Sberbank specialists. Inaccurate information is the basis for rejection of the application.
Under no circumstances should you fake documents provided for registration of a mortgage. Fake work books and salary certificates can become a reason for refusing a mortgage and initiating a criminal case. All papers required for obtaining a loan must be drawn up in accordance with Sberbank standards.
A fairly common reason for refusing a mortgage at Sberbank is the provision of collateral that does not meet the requirements of a financial institution.
Sberbank rejects applications from citizens for the following reasons:
- The property is in a dilapidated state;
- Unauthorized persons are registered in the apartment;
- The dwelling is under encumbrances (rent, rent, arrest, etc.);
- There are illegal alterations in the rooms;
- A house with wooden beams is offered as collateral;
- The apartment lacks the necessary communications (light, electricity, water supply and sewerage);
- There is no report on the market and liquidation value of the construction object;
- The collateral is a room in a communal apartment.
If the housing is located in regions that are not subject to mortgage programs, then it will not be accepted as security. Before applying for a loan, an employee of Sberbank conducts a visual inspection of the mortgage apartment. If the examination of the premises reveals significant structural defects in the real estate, then the applicant's questionnaire will not be accepted by Sberbank.
The expert will inspect not only the living quarters, but also the entrance, as well as the adjacent territory. He will conduct interviews with the client's neighbors and the local precinct. Any negative information will be the reason for the refusal of a mortgage at Sberbank. Bankers prefer to take liquid collateral, which is in stable demand in the real estate market. For this reason, the owner of an elite residential complex will not be able to use it as security. Buyers for such an object can be sought for years and decades.
Sberbank managers pay attention to the level of infrastructure development at the location of the mortgage apartment. If the new neighborhood lacks roads, shops, schools and hospitals, the borrower will have to look for other collateral. What if Sberbank refused a mortgage? The applicant should not be upset and worried about this. The application can be resubmitted.
Before applying for a mortgage, a citizen should consult with loved ones and evaluate the possibilities of the home budget. A person who decides to improve living conditions should carefully study the terms of the loan program and the mortgage agreement.
To increase the likelihood of a mortgage application being approved, a borrower should:
- Increase the level of official income;
- Find additional income or purchase assets that generate cash flow;
- Try to remove personal information from the global network;
- Reduce the loan burden and household expenses;
- Find co-borrowers who fully meet the requirements of Sberbank;
- Provide Sberbank with high-quality collateral;
- Collect a complete package of documents required for registration of a mortgage.
Particular attention should be paid to the credit interview. You need to carefully prepare for it. You should wear business attire for a conversation with bankers. No strong or unpleasant odors should come from you. Do not consume alcohol or other psychoactive substances before the conversation. Say hello to the bank employee and clearly state the purpose of your visit.
Listen carefully to the mortgage manager and answer his questions. You should not embellish your own financial situation and report knowingly false information. The lack of psychological contact and trust on the part of a bank employee can become a reason for refusing a mortgage at Sberbank.
The main reasons for refusing a mortgage
For every young family, the housing issue is an urgent problem. Many citizens do not have the opportunity to purchase real estate on their own, so the only option for buying an apartment or house is to obtain a mortgage.
There are situations when banking organizations refuse to issue a mortgage. Interest in clients and assistance in the preparation of documentation in housing loans, Sberbank can make a negative decision on the mortgage.
The execution of a loan agreement is a right, not an obligation of a banking organization, therefore, Sberbank does not explain the reason for the refusal to issue a mortgage.
To eliminate the likelihood of receiving a repeated refusal in housing loans due to minor errors or inaccurate filling of documents, you need to study all the conditions and requirements in Sberbank of Russia.
How long does it take to submit an application to Sberbank after a mortgage refusal?
The waiting time for re-applying for housing loans at Sberbank is 60 days. After Sberbank reviews the application, the borrower receives a positive or negative decision, which is valid for 2 months. During this time, you can get a mortgage and get a loan to buy real estate.
These timing rules also apply to a negative decision. Regardless of the reason for the refusal of a home loan, the client will be on the refusal list for 60 days. The decision on housing loans in Sberbank is made through a special automated program, therefore, attempts to reapply before the end of the term will be automatic refusal. Changes to data or entering additional information earlier than 60 days will not be processed by a specialist.
Sample re-application
For the set period of validity of the application for housing loans, you can change your personal information and prepare a list of additional documentation for repeated, which will confirm financial stability.
To avoid re-failure, you can change the following:
- find an additional source of profit to increase financial opportunities;
- close existing loans in another bank;
- collect the amount for the initial payment or provide a guarantor;
- draw up additional documents confirming solvency;
- open an account with Sberbank and put the amount at interest.
Reasons for the refusal of Sberbank in housing loans
The main question of refuseniks is - what is the main reason for the refusal in Sberbank? According to the bank's rules, this information is confidential and is not shared with clients, so one can only guess.
Most often, the reason for refusing a mortgage loan is rather superficial, therefore, when reapplying, you need to know all the nuances and try to give the most beneficial information.
The main reasons for refusal:
- bad credit history or its absence;
- errors in the submission of the documentation package;
- forgery of documents;
- low solvency;
- non-compliance with requirements.
Credit history is the main factor that any bank pays attention to when refusing or making a decision. Each bank has access to the BCH, which contains full information about loans that have been issued over 10 years. If, in one of them, there were delays, then Sberbank has reasons to refuse to issue a mortgage. Also, the lack of CI can be a reason for rejection
The bank may refuse if there are significant errors in one of the documents provided by the borrower. Very often, citizens fake income certificates in order to increase the level of solvency, however, there is a special program in Sberbank that allows you to distinguish a fake certificate from the original.
Low solvency
If you receive a negative decision in the issuance of a mortgage loan, the reason may be low solvency. Housing prices are now very high, therefore, young families cannot afford to pay monthly mortgages.
In the consideration of the application, only official income, which is confirmed by documents, is taken into account. From it, the subsistence minimum is deducted for each family member who is dependent, therefore there is a low level of solvency.
To avoid a negative decision in obtaining a mortgage due to low solvency, you need to make an initial payment that will be more than the established percentage. With this, you can reduce the size of the monthly payment and increase the chance of getting a positive decision.
In the event that the client's official income is less than the threshold value, then he will receive an automatic refusal due to low solvency.
Non-compliance with the requirements of the lender
Each banking organization has individual requirements and conditions for borrowers. Failure to meet the requirements is the reason for rejection. The application is not even taken into consideration if it does not meet the requirements.
Each bank has a number of basic requirements that are required to complete an application:
- the age category of borrowers - from 21 to 65;
- official experience in the last job - at least 6 months;
- total experience must be more than 12 months.
After checking compliance with the requirements, you need to provide a package of documents that will confirm the identity and financial condition of the borrower.
Other reasons
The reason may be the client's health condition. A negative decision can be received by pregnant women and borrowers who undergo various treatment in a hospital for a long time. The bank can refuse without explaining the motive if there are visible signs of a serious illness or disability, as there may be a risk of violation of the terms of the loan agreement.
