A loan application is granted more frequently if the borrower is sufficiently prepared for the loan. Many small mistakes that lead to a rejection of the application can be avoided with the right preparation. The most important tips for that Credit conversation is successful, are:
1. Good preparation
A good preparation radiates expertise in economic matters and can thus significantly increase the chances of success.
The customer advisor automatically protects the customer’s competence higher and considers it more trustworthy. The borrower should in any case be informed in advance about the calculation of the maximum loan amount, interest rate and bond, and repayment plan. As a rule, these key figures are already known before the last credit call and, of course, the customer should know the bank’s proposal exactly.
In addition, the future borrower is in a much better bargaining position if he knows the terms and market conditions. He can thus assess his chances better and use.
Equally important is the preparation of the documents. The documents should be complete and handed over to the customer advisor in an orderly manner in a folder. All documents should be checked for their relevance.
In any case, the applicant should have answered the following questions before the interview:
- Which loan amount is necessary? The amount should be as small as possible, but also not too tightly calculated to leave room for unforeseen difficulties.
- What is the highest monthly rate that can be managed? The sum is calculated as the monthly surplus minus a security buffer for emergencies.
- What is the maximum term? The longer a loan has to be paid off, the greater the risk that payment will be made. Especially when the borrower is about to retire or the financial situation changes in the foreseeable future due to the founding of a family, borrowers should, as far as possible, design the term in such a way that it ends before this incision. If this is not possible, the monthly burden should be kept lower or value should be placed on flexible installment payments. Basically, however, that loans should be paid as soon as possible.
- What advantages and disadvantages does the lender have?
- What does an enjoyable offer look like? Do other lenders offer better terms?
2. Apply in time
Those who apply for credit early have several advantages: Firstly, they do not need the money urgently and can thus compare offers better. This gives him an advantage in negotiations because he is far less under pressure. The bank also reluctantly sees urgent loan applications. On the one hand, it itself is under time pressure, on the other hand, a loan application, which is not made at the last second, testifies to a responsible handling of money.
3. The external appearance decides with
The first impression is almost always decisive. Although borrowers are not obligated to a specific dress code, they should nevertheless attach importance to their outward appearance. It is important to broadcast as much seriousness as possible. Applicants should not be overdressed or underdressed. A simple business outfit is always the best choice.
4. manners and attitude
The behavior also determines the chances of a loan application. Borrowers should neither be arrogant and arrogant nor subservient. A healthy self-esteem, paired with friendliness ensures that the client advisor is well disposed to the future debtor, without him underestimating him in the credit conversation.
5. Prove negotiating skills
As a rule, credit terms negotiate and fix loan terms. Anyone who demonstrates negotiation skills in a conversation can save a lot of money. Borrowers should make clear their interest in working with the specific lender. Above all, a long-term commitment to the bank is a good argument here. However, borrowers should not conceal the fact that they have obtained settlement offers and could possibly obtain the loan from another bank cheaper. In this way, they show commitment and encourage the client advisor in the desire to continue to bind the borrower to the bank.