Sberbank refused a mortgage - reasons for how to get one so as not to refuse

When applying for a mortgage, you must carefully study the bank's requirements for the borrower and the property being purchased. If it is difficult to do this on your own, it is better to seek help from specialists - a mortgage lawyer, a credit broker, a bank employee. A serious approach to the matter allows you to significantly increase the chances of receiving an approving decision. Experts will tell the borrower why Sberbank refused to issue a mortgage.

What to do if Sberbank refuses to issue a mortgage

Most Russian citizens use the services of Sberbank: receive salaries and pensions, make various payments and money transfers, open deposits, and take out consumer loans. Sberbank PJSC products are always of high quality, meet customer requirements, and are easy to obtain thanks to an extensive banking network and a convenient mobile application. That is why, when it is necessary to obtain a mortgage, the choice of most people is Sberbank.

The financial institution values each client, is interested in increasing the number of consumers of its services and has the financial capacity to issue a large number of loans. However, the selection of applicants for a mortgage loan is subject to strict requirements.

The number of unapproved applications out of the total number of applications submitted is no more than 20%. However, people who fall into this percentage often do not know what actions to take.

The financial institution has the right not to explain the reasons for its refusal. However, a potential borrower, after once again analyzing the submitted information, can understand the reason.

The actions of a client who has not been approved for a mortgage at Sberbank may be as follows:

finding out the reason for the lender’s refusal and correcting these shortcomings. If the reasons can be eliminated in a short period of time, a re-application is submitted within 60 days;
offer the bank a higher down payment;
find another lender.

The easiest way to get a home loan if Sberbank refuses is to find a new lender. However, not all citizens agree to take out loans from another financial institution. In this case, you should study the reasons for the refusal, correct them and submit a new application.

Contact credit brokers

If your mortgage is denied again, you can try contacting a credit broker. Such companies cooperate with Sber and have a better chance of getting their application approved. But the credit broker takes his percentage.

In addition, you must realistically assess your capabilities. If the bank did not approve the application due to lack of money for repayment, then where will you get it if you approve the mortgage through a broker? This is not a consumer loan and there will be more problems. It’s worth paying attention to saving, finding a normal job, and then applying again.

Why does Sberbank refuse to provide a mortgage?

When considering submitted applications, the bank tries to protect itself from possible risks. He also analyzes the client’s ability to pay a mortgage, support his family and make mandatory monthly payments without attracting additional borrowed funds.

Sberbank has a short list of reasons for refusal:

The potential borrower has unpaid or overdue debts. These could be debts to the management company, traffic police fines, unpaid taxes, fees, outstanding loans issued from other banks.
Problems with credit history. This list includes both a negative credit file and no credit file at all.
Incorrect information in the application. These are technical errors, an incomplete package of documents, as well as inaccuracies identified by the bank's security service when checking client information.
Low income or inconsistency with the requested loan amount.
Problems with the applicant's personality and background. These are problems with the law, outstanding debt from bailiffs. This category includes past or present bankruptcy proceedings, unkempt appearance, or inappropriate behavior during a credit interview.
Low technical and quality characteristics of the purchased property.

No one prohibits the borrower from submitting an application several times. The bank is always interested in attracting new and reliable clients. However, if each new application is accompanied by a negative decision, the citizen risks being included in the list of unreliable persons. It’s better to immediately correct the shortcomings, get the desired approval and move to a new apartment.

We increase the chances of approval

Let's start from the very beginning - by filling out the application. Banks will not approve a mortgage for a poorly prepared client - what can you do to increase your chances? You need to know all the bank’s requirements and the main reasons for a possible refusal to issue a loan.

The likelihood of getting a loan will increase if:

income allows you to freely make monthly loan repayments. The bank considers a “white” salary and documented additional income, for example, from renting out real estate and part-time work. Loan obligations should not exceed half of the borrower's income;
the client makes a down payment of more than 20% of the loan cost;
financially wealthy co-borrowers or guarantors are attracted, and they satisfy all the bank’s requirements;
the borrower’s employer confirms his data and income and gives positive recommendations;
the client has no other current loans and debt obligations, credit cards and writs of execution;
real estate or vehicles of the borrower (co-borrowers) are provided as collateral;
The lending program has been accurately calculated. The application specifies the optimal loan amount and repayment period;
An extended package of documents is provided. To the required list you can add recommendations from the employer, a certificate of additional sources of income;
The mortgage application is submitted to another person, such as an immediate family member, and the borrower becomes a guarantor for him. This option is suitable if the borrower’s profession is on the list of risky professions for the bank. Firefighters, rescuers, police officers, bodyguards, and creative workers can use this alternative.

Requirements for online mortgage documents

Methods for assessing the creditworthiness of a mortgage borrower

Improving your credit history

Even if the borrower has a high level of official income, errors in the credit history have a huge impact on the rejection of the application. The credit dossier is checked first; it is this that tells the future mortgagee the applicant’s relationship with financial organizations.

Experts recommend checking your CI in advance by sending requests to the BKI. If it has problems, they should begin to be corrected. This will take at least a year. Consumer loans for purchasing expensive household appliances or using a credit card will help.

Important! Debts must be repaid strictly according to schedule, avoiding late payments and early payments.

List of documents

At the first stage, the bank will only need a few documents identifying the borrower and confirming his solvency. You will need many more of them before making the final transaction.

So, after approval of your mortgage application, you need to present:

passport - a mortgage loan from Sberbank is issued to persons with Russian citizenship who have reached 21 years of age and are not older than 65 years of age;
certificate from the Federal Tax Service on income and absence of debts;
certificate of employment - the bank needs to verify the client’s stable income, which will confirm his solvency.

You will also most likely need additional documents. Their exact list depends on marital status, participation in various government programs designed to improve the living conditions of certain categories of the population, and so on.

In the future, you will need the following list of documents:

certificate of registration of ownership;
result of real estate valuation;
papers that confirm the basis for obtaining ownership rights;
extract from the Unified State Register of Real Estate;
cadastral passport;
consent of the spouse (if the borrower is married);
marriage contract (if any);
a certificate stating that the borrower was not married (if so);
permission from the guardianship authorities (if the owners include minor children);
passport, SNILS/TIN of the seller;
extract from the house register;
purchase and sale agreements (preliminary and current);
receipt to the buyer.

Be sure to check past and present debts to other financial organizations, thereby compiling the client’s credit history.

Increased solvency

Financial solvency is the second most important factor in obtaining approval for a mortgage application. The borrower's monthly income should be enough not only to pay contributions to the lender, but also to maintain a family, apartment, dependents and purchase basic necessities. Sberbank admits that 50% of the income can go to the lender, and 50% remains with the borrower.

If the level of income is insufficient, the borrower can attract co-borrowers (no more than three people), find additional income or change his main job.

Important! If your income is not enough, you can purchase cheaper housing or increase the loan term, thereby reducing the monthly payment.

What actions to take if refused?

In case of refusal there are two ways:

Reapply.
Contact another bank.

It is advisable to make a repeated request after eliminating the reason for the refusal . If the salary is small, then you need to think about increasing your income. Another option is to involve a co-borrower in the process. You should choose a relative who meets banking requirements and has a stable and official income. When considering an application with a co-borrower, the bank will also take into account his income.

If the refusal was due to a bad credit history, then it needs to be corrected. True, this may take several months. To become a reliable customer again, you need to pay off all existing debts and regularly pay obligatory payments. Another option is to take out a small loan and repay it on time.

Reference! Making a large down payment will help increase confidence on the part of the bank. This will not only increase your chances, but also improve your repayment terms.

Unsuitable property

The purchased property becomes the property of the borrower after the transaction is completed. However, it remains pledged to the bank until the debt is fully repaid. If the obligations are not fulfilled, the lender receives the right to sell the property and return the funds spent to finance its purchase. Therefore, the same strict requirements are put forward for the apartment as for the borrower.

A preliminary study of the mandatory criteria and selection of suitable housing will help correct the situation. If it is difficult to choose a property on your own, it is recommended to use the DomClick program from Sberbank or the services of a professional realtor.

Bank requirements for the borrower

Sberbank sets strict mandatory requirements for the borrower:

Citizenship of the Russian Federation. Foreign citizens will not be able to get a mortgage/loan.
Age limits. The client must be over 21 years of age at the time of application. Second age threshold: 75 years. This is the maximum age for making the last payments.
Stable income and employment. The total work experience is at least 1 year, the time worked in the last place is from 6 months. The amount of wages is also taken into account.
Providing the necessary documents. One of the most important papers is the 2-NDFL certificate, confirming the client’s solvency.

The video is dedicated to the topic of mortgages. The author answers the question of to whom banks give a positive answer and what are the main requirements for the borrower. Prepared by the Mortgage Secrets channel.

How to refuse a military mortgage

Current legislation provides a military serviceman with the right to choose the method of exercising the right to housing. The choice is made between the savings-mortgage system (NMS), which is called a “military mortgage,” and a lump sum cash payment (LCP). But in a practical solution, it turns out that military personnel who entered into their first contract before January 1, 2005 can refuse a military mortgage. Since that time, military mortgages have become the main way to provide military personnel with housing (established in paragraphs 1 and 2 of Article 9 of Federal Law No. 117 of May 20, 2004).

The only way for a military member to opt out of the military mortgage program is to file a lawsuit in court. When drawing up an application, it should be indicated that, according to the Constitution of the Russian Federation, a serviceman has the right to independently determine the method of providing housing. There are no other opportunities for a military member to receive EDV instead of participating in the military mortgage program.

How to refuse a mortgage during divorce

The issue of abandoning a mortgage becomes especially painful during a divorce. Many Internet portals post answers to the questions “my husband refuses to pay the mortgage, what should I do?”, “Is it possible to refuse a mortgage during a divorce?” or “how to refuse a loan taken by your spouse?” We will try to summarize all the answers in this part of the article.

The Family Code clearly states that collection of credit (including mortgage) obligations of one of the spouses can only be collected from this spouse. But if the borrower becomes insolvent after a divorce, the court may require the allocation of his share from the jointly acquired property in order to repay loan payments. What can be considered joint property? Such property includes:

Movable property and real estate purchased with joint income (for example, a car, an apartment, jewelry).
Share in the business (provided that the company was created after the marriage).
Securities and bank deposits.

Property that is not considered jointly acquired includes:

Real estate, the ownership of which was registered in the name of one of the spouses as part of the initial privatization.
Property purchased by one of the spouses before marriage.
Property belonging to their minor children.
Property that one of the spouses received as a gift from a third party or received by one of the spouses by inheritance.

When dividing property, the court will determine what of the property of the debtor spouse was acquired with his funds and what is jointly acquired. If it is proven in court that the mortgage loan was taken out for common needs, then the spouses will face a joint and several division of the loan.

Is it possible to refuse mortgage insurance?

Paying mortgage insurance is an additional burden on the borrower’s finances, so many are looking for an answer to the question “how to refuse insurance?” Let us answer right away - it will not be possible to completely abandon real estate insurance in any way, since according to the law, banks have the right to require the borrower to insure his own life, the property being purchased, and much more. At the same time, the wording in the contract is often so smooth and streamlined that it is difficult for a client who is not trained in the relevant field to understand what exactly he is insuring. We offer some simple tips on how to reduce the amount of insurance payments.

Do not hesitate to ask questions to bank employees. They are obliged to provide you with all the information about the details of the insurance contract.

As a rule, the bank insists on concluding an insurance agreement with a partner company. Such an agreement is beneficial to the bank and insurance company, but not to the client! It is worth carefully studying all the documents on mortgage insurance and choosing from the list of recommended companies the one in which the conditions are more favorable for you.
If you don't feel you have a good understanding of what you're paying for, it's worth seeking advice from an independent law firm. Consultation costs money, but losses from inattentive reading of the insurance contract and ignorance of legal nuances can be much higher.
Make sure that the insurance contract expires at the same time as the loan payment is due. A number of insurance companies practice automatic contract renewal. Remember that you are not obligated to pay insurance premiums under a contract extended without your consent.

We hope these simple tips will help you save money on your insurance!