How not to get into trouble when taking out a mortgage

Preventing against the rejection of a mortgage in the form of a client’s experience with getting the mortgage loan.

“The time has come to get my own housing. As I was surfing the Internet, I came across a flat that caught my eye. I liked it so much that I decided to go to the bank the next day, where I had an offer done - whether they would provide me with a mortgage and at what amount.
I was satisfied with the offer, the monthly installment was also reasonable. As I was going on holiday, I decided to start arranging the mortgage loan when I return. That year I did not plan a holiday by the sea, I wanted to go on a road trip around Slovakia with my friends.

At the opposite end of the country, we were walking by a bank. Just out of curiosity, if I would get a better offer than “at home”, I came in. I signed some papers for a non-binding offer and I got a calculation.
I found that I was also getting the same numbers at the opposite end of Slovakia, so I was satisfied. After the holiday, I began to arrange my first mortgage loan for my dream flat. In the bank I signed the application, I submitted the documents necessary for the approval of the mortgage and finally, the long-awaited moment came – the approval of the mortgage loan itself.

I finally got the answer. They called from the bank and told me that my mortgage loan was REJECTED.
I was quite surprised – I had an offer calculated at two different branches and I passed without any problems at both of them. The branches even concurred in the amount of the loan and interest rates. I went to the bank and began to investigate the circumstances why I had my mortgage loan rejected.”

Do you want to know why your mortgage was eventually rejected?  

If you read the story carefully, you have certainly noticed that when the “client” was on holiday at the other end of Slovakia, he signed some documents to have an offer done. Since no signature is needed to have an offer prepared, what did our client actually sign?
“The client” unknowingly signed the first mortgage application during the holiday. He did not realize that, and he did not remember what he had signed. He just wanted to ask about the possibility of obtaining a mortgage and, in particular, he was interested in the offer.
Upon arrival, he actually signed an application for a mortgage loan. Unfortunately, in this case, the second one.

If you have been in a similar situation and you went to the various branches of the bank where you asked for an offer, do you remember what you signed? Remember this client’s recommendation: “It’s a good idea to use the free and professional mortgage specialist services to save both stress and money.”

Be careful, one single unaware signature can spoil the dream of having your own housing.
Be careful, the same situation can happen if you knowingly sign applications in multiple banks.

A good mortgage specialist will warn you of all potential complications and will do everything possible for you to avoid them. Do you know who you are arranging YOUR mortgage loan with?