Unless you have won the lottery, getting a mortgage at the bank is an essential part of buying a house. And it now seems that you no longer just ‘hand in’ a mortgage application. The most important thing is to prepare well for a face to face appointment with the bank manager. You want to give the best impression possible, because getting your mortgage depends on it.

Let me tell you what you need to be aware of in today’s lending environment. You will need to be familiar with your personal borrowing capacity, know which documents are required, which banks to contact and whether to do this online or make an appointment. You can read all about these important factors below.

Your borrowing capacity

Still not sure how much you can borrow? Calculate your mortgage in advance and get an overview of your financial options when buying or building a home. This is simply an overview; the actual amount the bank offers you can be different from the calculations on this site. I would also advise you to compare multiple banks so you choose the best mortgage for you.

How does the process work?

If you buy a house or land, you must sign a contract of sale together with the current owner. This contract is then signed by a notary and linked to the deposit of an advance on the total house price.

After this you have a maximum of four months to draw up the deed of sale with the notary. It is now time to contact a bank or lender to have your loan calculated and approved.

It goes without saying that you should ask for a mortgage from your own bank. Your own bank already knows you and has your file to hand. Of course, this is certainly not a requirement and you can always contact other banks for a mortgage. One golden tip: compare multiple banks and sign up for the cheapest option.

Which documents do I need?

Great. You have now compared a number of banks and lenders and have chosen the best. Time to officially apply for credit.

The following documents are required:

  • The deed of sale;
  • Your tax returns(s) (usually from the past two years);
  • Wage slips from your current employer (if self-employed you will need to bring all invoices from the past three months);
  • Quotes for work to be carried out (for new builds or renovations);
  • Building permits  (for renovations and/or extensions);
  • Your personal capital (own contribution);
  • Current loans (car loan…);
  • Title deed(s) (if you own more than one home).

Request a mortgage online or face to face?

Okay, you have handed in your file.

The authorised persons at your bank will study it and decide whether they can offer you the requested credit or not. If the lender agrees, you will be made an offer.

Of course, you can easily apply for a mortgage online, but don’t feel obliged to do so. Making an appointment with your bank is certainly not an unnecessary luxury.

From the Co-libry team, and from me, we wish you the best of success!