If you have no experience with financing, it may seem like a dark and complicated world. Here we give you a little light.
The proportion of your salary that they assume
We have no doubt that you already assumed that the salary is one of the things they checked. What you may not have known is with respect to what they decide if a salary is enough or not. In general, it matters little that you get a thousand or ten thousand, what matters is that the amount of money you pay in installments of loans and credits per month does not exceed 35% or 40% of your regular income.
In this sense we must clarify that although the Internet always speaks of the records of defaulters, while you are paying your debts on time, in no time you will be enrolled in one. The way to check your other credits is to request information from CIRBE, the Risk Information Center of the Bank of Spain that has proof of debts over € 6,000.
Your past credits
Perhaps intuitively you think that a person who has never had to ask for a loan is more financially reliable than someone who asks for loans regularly, but in the opinion of financial institutions this is not the case. It seems that the fact of having experience self-managing to pay the debts you have is valued positively, so the entity will prefer a person who has requested credits in advance and paid them on time to someone who has never requested financing.
Your family structure
The family structure directly affects your financial stability. A single person with a good fixed salary can spend on whims, but will have their real needs much more limited. However, a self-employed worker with children and a spouse who does not work supports more financial pressure, even if their business is going well today. In this same line, they also take into account both your age and the length of your employment contract if you have one.
Your income statement
Some consumers are surprised when they ask for it, but the entities that do exhaustive checks will want to take a look at not only the statements of your bank account, but also your income statement. In this way, you will have a much more realistic view of the set of income and expenses you have throughout the year.
To get all this information, the financial institution can either ask you directly or ask you to sign an authorization for them to do so. In this sense, the Spanish and European privacy laws have evolved a lot, so you will always be well informed of what they do with your data. However, there is no doubt that all these procedures can delay the study of the application and the decision of the financial institution.
If you do not want to go through a multitude of exams and checks, in Matchbanker you will find fast credits without Papers offered by several companies so you can easily compare them.