This is considered as prerequisite for lending
Loan documents must submit a borrower in addition to the actual credit application form prior to the conclusion of a credit agreement with the Bank documentsOn the basis of these documents, which give information about the income and available collateral, the credit institution the credit ability of the applicant to determine the credit rating.
Click here to read what documents you should keep for the loan application ready.
Since there are no uniform rules exist that apply across all credit providers, vary the documents to be submitted depending on the respective credit Institute. In addition, factors such as the type of loan affect the loan amount or the group of persons to the extent and nature of the documents to be submitted.
Also in the case of retirees, there are special features
Accordingly, it is possible that, for example, business customers more documents for the loan application to private persons must submit.
According to section eighteen of the banking act, credit institutions are obliged, prior to the award of credit are required by law to perform a credit check.
Using the audit, the Bank protects itself against a potential credit default risk arises when borrowers can no longer meet the repayment of the loan. A loan officer creates based on the data from the documents for the loan application, a so-called credit scoring. The numerical value resulting from the evaluation of borrower characteristics, represents the credit of the consumer and influenced the allocation of loans. In any case, consumers fill out the loan documents, should pay attention to the completeness of the information in the documents, as well as the accuracy of the information. Incorrect information should appear in the reserves Bank to terminate the right front of already contracted loans for good cause. To the Occurrence or to avoid the formation of incorrect information, should the borrower be sure of the lending Bank is always up to date. Share your credit with the issuing Bank for any deviations from the current information in the credit contract immediately. A change of residence or a change of Employer should be disclosed. In principle, when applying for a loan in respect of the applicant's group of persons, a distinction is made. Customers, companies, private customers and the self-employed and freelancers in different ways. The question of which documents are relevant for the credit necessary, and can therefore not be answered uniformly. Depending on the respective group different documents need to be submitted. Due to the not clearly defined Guidelines regarding the documentation to be submitted, can also different banks have different requirements. In the case of the above-mentioned documents, however, it is the most common documents, which require credit institutions in the rule.
Consumers who perform an Online credit comparison, are often asked in the context of loan comparison, personal data.
In addition, salary statements, account statements, etc.) is often asked for information on the personal financial Situation and the relevant documents (. Often, these data can be used also for the submission of the loan documents. Corporate customers who want to take out a loan for the financing of a company must, in addition to the stated documents submit the following documents: as in the case of the applicant groups differ and depend also on the documents to be submitted depending on the nature of the desired Loan. In addition to the conventional documents have to be submitted in case of rescheduling, the following documents: What documents for the Bank credit in the area of real estate and home buying needs, depends on the type of property. In addition to the documents concerning the financial Situation, the following information must be proven Legally, it documents for the private borrower is no uniformly defined retention period for the Credit. Contracts to Bank products, however, should be at least kept for the length of the term and until the end of the term of the contract. The credit agreement expires with the repayment of the total amount, so the borrower may dispose of, in principle, also the corresponding documents. For traders other retention obligations apply when you are legally obliged to keep accounts. euros and a profit of. euros per year is generated Credit must be between six and ten years of stored documents. Each Bank is different with the granting of loans, and has their individual guidelines. Accordingly, it can be in the rarest of cases that a few of the banks also require the following documents: All the documents requested by the Bank, must be submitted in order to approve a credit application final. In addition, however, there are other criteria that can influence the decision of the Bank on granting a loan.
