By their actions, customers can hurt themselves, after which it will be impossible to finish the deal. As a result of some actions, you may lose your deposit, and in the worst case, the seller may sue you and demand compensation for all losses. We always warn customers about what they shouldn’t do while applying for a mortgage, and how serious the consequences of their actions may be.
1. Do not take additional loans
There were situations when a person took a loan for a car, furniture or appliances before he moves into the house. The credit history can be checked once again by a bank or state insurance, and transactions can be canceled.
2. Do not change work
A bank employee can once again check and call the work before you move into the house, and if it turns out that you are no longer working there, you may have big problems.
3. Do not move your money
If you have money on a checking or savings account in one bank - leave it there.
4. Do not allow anybody else to come to the credit bureau
Before moving into the house, state insurance or the bank may once again look into the credit bureau, and if they do not like something, you can lose the deal.
5. Do not start your own business
If you start a new business, you have to wait 2 years before we can help you with the mortgage.
6. Do not divorce
Divorce can also prevent successfully closing the deal.
7. Do not use active credit cards or line of credit
If your balances on these credit cards rise, then the ratio of income to expenses worsens.
8. Do not become a co-signer for another person
If you are asked to become a guarantor, for example, for the car of your friend or relative, you can not agree, because this loan will be displayed as yours in the credit bureau.