A mortgage loan for a single person? No bank is going to make a problem of that. However, your status as a single may influence how much you can borrow. In this blog we discuss all factors that influence your loan application.
How stable is your income?
All banks want to see the money that they lend to you someday. And with interest. Because you do not have a partner as financial back support in an emergency, the banks demand that you have a stable income.
If you work as a temporary worker you will be less successful in finding a suitable loan. On the other hand, anyone who works with a permanent employment contract of indefinite duration will not experience any problems with a loan application.
How much of your salary goes to the installment?
Most banks apply an ethical rule that says that a maximum of one third of your income can go to the installment. In this way, financial institutions ensure that you have enough financial breathing space to live comfortably. Although one credit institution is already handling it more flexibly than another.
How much do you have left over each month?
The bank does not want you to get into financial problems, because then there is a real chance that the repayment of the loan will eventually start to take effect. That is why a credit institution always looks at the amount that you have left after your payment.
After all, you undoubtedly have other costs than your loan. Just think of the invoices for your electricity, internet, telephony, digital television, and so on. Your bank wants to prevent your debt from becoming too large.
Are there any other current loans?
Do you have any other loans currently running? Maybe a car loan or a personal loan? Then the lender may choose not to respond to your application. But again: that all depends on the size of your income and your own contribution.
How large is your own contribution?
The more savings you contribute, the greater the chance that your loan application will be accepted. The risk for the bank is smaller. You also show that you are able to save.
Do you not have your own contribution? No worries. Certain banks are also willing to lend you the full amount of your home.
Compare the different banks
We work together with all current banks. Therefore, thanks to us, you have an overview of all loans and the most favorable interest rates. You will undoubtedly find a loan that suits you.
Let’s sit together for a person-to-person conversation. Our employees are happy to talk about your current financial situation, your expectations and the opportunities that present themselves.