Banks are the most loyal to borrowers with a bad credit history. Of course, this is not about malicious defaulters, but rather about borrowers with rare or objectively conditioned violations of credit obligations. These banks can approve the borrower’s application with overdue more than 90 days, but he will need to provide an explanation of the reasons for the debt or close current loans, rarely – even correct mistakes in the credit history when the borrower is credited with “non-existent” violations.

Belong to the number of banks that give feedback to borrowers with a bad credit history – they argue their refusal and suggest ways of solving the way out of the current situation as said by the mortgage broker GeelongĀ .

How do banks check applicants for mortgages in practice?

Can an officially unemployed person take a mortgage?

Rating of banks on the level of loyalty to low income of borrowers

Commercial banks

As a rule, they adhere to the “50 to 50” rule and approve a loan amount, payments on which should not exceed 50% of the total income of the borrower.

State-owned banks

They use a more flexible income assessment system and often endorse the maximum possible loan amount for borrowers, at which about 70% of the total income can go to monthly mortgage payments.

Early repayment due to the reduction of the period, but the bank accepts only as a reduction of the monthly payment. If you need to reduce the period, we proceed from the fact that the monthly payment does not actually change, therefore, if the bank can accept the early payment only as a result of reducing the payment, we correct this decrease. Monthly early payment so that the payment remains fixed, so you will simulate a permanent payment, this increase will increase monthly on a monthly basis. Payment will be reduced.

All these tips require internal discipline and responsibility, because the bank will ask less and need to force it to give more, but in general they will allow you to feel more free and less loaded with a credit burden.

Principle Seven

This item is very important for women, but men often can do without it. Allocate a certain amount for … bullshit. This includes shopping with sudden small purchases, going to the movies and so on.


Be sure to have funds for unforeseen expenses. This includes gifts, visits to doctors, and unexpected breakdowns of household appliances. It is better if it is a fixed percentage, but you can proceed from the remainder.

There it is, the most important moment! Check if your expenses exceed your income. If this is so, count it all over again, make corrections; think about what you can refuse.

Now you have calculated your monthly expenses and can plan the amount you are willing to save to buy an apartment or an initial mortgage payment. Make the amount you put aside with an untouchable stock (for example, transfer it to the bank into an account from which you cannot withdraw money within a year). You will get used to part with this money, and in the future it will be easier for you to make a monthly payment on the loan.