What documents do I need for a loan application?
The documents for the loan application are standardized, certain documents, evidence and other papers wants to see each bank. In addition, possible evidence of collateral is added. This can be general collateral like the life insurance policy and special collateral for the particular loan such as a land register excerpt or the car letter.
- General documents for the loan application to banks and other credit intermediaries
- Special documents for loan applications to banks and other lenders (collateral)
- Sending the documents to the bank
- What happens to the loan application for incomplete documents?
General documents for the loan application to banks and other credit intermediaries
The general loan application documents require banks and savings banks, as well as credit intermediaries. These documents prove several things: The income of the applicant is one of them, as well as the nature of his professional practice, his current financial circumstances and possible payment difficulties, which can be seen from the account statements. In some circumstances, financial circumstances can also be determined from these documents for the loan application. In detail these are:
- Proof of income : payroll, pension notice, Bank, tax bill (annual tax assessment of the last two years) for self-employed persons
- Bank statements of the last two or three months (gapless)
- Proof of home ownership, if any
Special documents for loan applications to banks and other lenders (collateral)
These documents serve to secure the loan. As mentioned above, it may be specific to the loan belonging security documents (real estate, motor vehicles), but other assets are used for general credit protection:
- Land register excerpt and / or purchase agreement for a property
- Car letter (registration certificate Part II)
- Life insurance policy
- Proof of a bank balance or securities account
Sending the documents to the bank
Most banks require postal delivery using the Postident procedure. The claimant shows the staff member a personal document. In the case of a personal application in a bank, the personal document must be presented with the submission of the documents. There are now in the case of a few direct banks also the opportunity to carry out the identification process online via video chat.
What happens to the loan application for incomplete documents?
In principle, no lender deals with a loan application if the documents are not complete. Even small tricks do not help: Account statements must be complete, blackening of a booking, which the lender supposedly nothing, should be plausible. This could be a phone bill, the small amount, but not the provider remains recognizable. Through and through blackened bank statements will probably accept any lender. In the worst case it comes with incomplete documents to a flat rejection of this bank, the customer has thereafter no chance. Which documents you need exactly for the loan application, usually tells the bank or credit intermediary directly with the online loan application.