Will the bank inform you if the mortgage fails?

If the mortgage fails, the bank will notify the lender. In fact, regardless of whether the mortgage application is successful or not, the bank will inform the lender. Usually, the bank will send the application results to the mobile phone number reserved by the lender by SMS, and some banks may also call the lender to inform the lender of the approval results, so you can wait patiently.

If you have opened a loan bank, online banking or mobile banking, you can also log in to check the progress of mortgage approval. However, I would like to remind everyone that the bank will only be responsible for informing the lender of the results, and will not inform the reason for rejection if the audit fails.

What are the reasons for the rejection of the mortgage?

1. Personal credit has a record of overdue repayment.

When individuals apply for loans, the borrower's personal credit report is an important reference. If the mortgage repayment application report shows that the borrower has many overdue repayment records recently, the loan may be rejected.

2. Incomplete mortgage information

In order to get a loan successfully, the borrower must provide complete personal information, such as where he works and what his position is. If the personal information provided by the borrower is incomplete, it will also be refused by the bank.

3. Personal loan information is untrue

A small number of property buyers are worried that their income is not high, resulting in a low loan amount, so they think of submitting false information. If the bank finds out, the loan will also be rejected and may even be blacklisted.

4. Personal repayment ability is weak.

The success of the loan is also closely related to the borrower's personal repayment ability. If the borrower's repayment ability is insufficient, the bank will bear higher loan risk and the probability of mortgage rejection will increase.

5. Personal debt is too high

The lender's monthly payment should not exceed 50% of the family's monthly income. If this limit is exceeded, the loan may be rejected. Even if you can get a loan, the loan amount is not high. Because banks will also worry about whether lenders are over-indebted.

6. Reasons of the developer

If a developer sells a house that is not qualified for sale, that is, the developer fails to obtain a pre-sale permit or sells an existing house that is not qualified for use, the bank will not approve the loan when reviewing this situation. At this time, property buyers can ask the developer to refund the down payment and deposit, and ask the developer to pay the corresponding interest loss.

7. Non-buyer-seller reasons

If the government's policies or bank regulations change, the loans that buyers should get cannot be realized, and buyers should negotiate with developers. If negotiation fails, there is no agreement in the contract. Property buyers can sue to prove that they are not at fault and are really unable to buy a house, and ask the developer to repay the down payment and deposit.