In order for the real estate project to be successful, it is necessary to respect certain stages that require respect for deadlines. Pay attention to file processing, which may take longer during the summer season.
The time it takes to get a mortgage
Obtaining a loan usually requires patience. Several weeks are needed between compiling a file, finding a financing solution at the best credit rate and signing the sale with a notary. In practice, there is no set deadline. However, we can note an average time period of more than three months to obtain a mortgage. However, this period may be reduced depending on and subject to the bank Send a complete file. Indeed, by collecting all the supporting documents, the borrower has every chance to get a loan more quickly.
Steps to follow to apply for a mortgage
Once the signed sales agreement is signed, there are generally 45 days left to find a financing solution, which is about a month and a half. In the event of an override, the suspended clause will result in the invalidity of the contract. Note that the period for obtaining the loan begins after the end of the legal withdrawal period, which is 10 working days.
In addition, the borrower has up to three months to sign the deed of sale with a notary once the withdrawal period is over. Pay attention, however, to Anticipate certain factors such as the summer period This may result in a delay in processing the file.
Delay in processing files with summer
The arrival of summer generally indicates an increase in prices and longer processing times. because of ? Some of the employees are on leave Leading banks to increase mortgage rates to reduce the flow of loan applications.
While some banking partners have opted for the status quo, others continue to raise their rates to reflect the increase in the cost of funds, which has not yet been fully passed. Moreover, the summer period always leads to increases. In fact, with 50% of the workforce on vacation, banks want to slow down the introduction of new files in order to process them in the best conditions,” explains Cecile Rockellor, Director of Studies at Empruntis.
Also, as the annual vacation period approaches, it is recommended that loan applicants take this situation into account and anticipate as much as possible the compilation of their loan file. Another solution is also to be provided in the sales agreement Extension of pre-credit terms to 75 days.
In addition, to ensure that you save time, it is recommended to call a mortgage broker. This finance specialist will be able to prepare the loan file in such a way as to facilitate the work of the bank examining the borrower’s application. In addition, the broker will be able to direct the borrower to the banks that agree to finance him on the best terms.
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