Before the loan is an application. Even in times of the Internet, this is often the personal financing discussion in a bank. And even if the contract is handled over the Internet, the individual questions are almost always at least over the phone discussed. The better prepared you are for this conversation, the more successful it usually is.
Well prepared for the appointment
Certainly it is sometimes difficult to reconcile your own wishes with your personal financial situation. However, it does not help to sit in a beautiful house , but actually can not afford to live in it anymore. That’s why you should make an accurate inventory before the first meeting. This applies to both the equity available for mortgage lending and the regular income and expenses. These figures can then be used to determine what amount is available for the monthly execution of the credit installments. In this respect, the planned acquisition or investment now has a financial framework and the most important data for the financing discussions at hand. In addition to banks, you can of course also represent a financial service provider ( more information here ) to inquire about the credit conditions.
Tips for the conversation
Important for the meeting is a serious appearance. This includes a proper clothes. Although much depends on the right framework, but not everything. In addition, you should have clear goals in the conversation and clearly represent them. It may increase the bank employee’s commission if it provides you with a higher loan than they originally intended. As a borrower, unlike a banker, you usually have no routine in such conversations, it is important that you make a note of your questions beforehand. In addition to the amount of the interest rate, it also concerns the term , the possibility of special repayments and the identification of opportunities for follow-up financing.
Ultimately, the decisive factor is whether their financial situation appears sufficiently secure for the bank. This is not least in your personal interest. Because only a few things in life create more problems than loans that you can no longer serve. Therefore, you should always take into account a sufficient reserve.