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Things to slow down your loan application

When filing a loan application, you need a lot of documents, and in this tense situation, you often only need to look at them superficially. These errors can cause delays of up to several weeks in the credit assessment, so it is advisable to thoroughly review the necessary papers before submitting. Based on years of credit experience, we have collected the most common mistakes when applying for a loan.

Expired ID documents


No matter how strange it sounds, this error occurs most often. If you are unsure of the validity of our documents or expire in the weeks after you apply for a credit, you may wish to provide a photocopy of another valid photo ID (driver’s license or passport). This will prevent credit reviews from slipping due to expired documents.

Incorrect data in contract

This error occurs mainly in home loans. This also requires a contract of sale, which has a lot of potential for error – details of contractors, real estate, etc.

Increased control of these can not only speed up the credit assessment but also reduce our costs as we avoid having to pay additional lawyer’s fees as a result of the contract modification .

Unreadable documents

Unreadable documents

More and more banks have the opportunity to submit our documents in a photographic format. This is obviously more convenient than having to run to the branch for 1 to 1 missing paper, but often the data on these documents is unreadable and unclear.

So if you have the opportunity to submit documents by taking photos, make sure that the information on them is clearly legible . Otherwise, the banks cannot take these into account and re-apply for these papers.

The bank statement is not good


In order for banks to assess our creditworthiness, we need to provide proof of income, which we also need to submit a bank statement.

The statements can be obtained from the account holding bank, but can also be downloaded from most banks via Internet Banking. If you choose the latter solution, be sure to pay attention to these: