Independent Credit Advisor


The bank employee checks that all the documents, certificates, and forms required to apply for the loan are included in the loan application package. If something is missing, it indicates to the client or credit intermediary and states in the bank’s management system that it is “under replacement”.

t is important to note that in most cases, the credit assessment process will only begin after you have submitted the complete credit application package – except in a few special cases, such as pre-credit valuation.

Based on the data of all persons involved in the transaction, the agent inquires from the Central Credit Information System whether someone is on the BAR list, and if so, in what condition (active or passive)?

Are the loan application forms properly filled out?


After that, the submitted papers will be checked one by one to make sure that all the required data is filled in and that the appropriate boxes are ticked. If you find a problem, ask the customer to fix it.

Are the attached certificates and declarations properly filled in? Apply to?
Are the certificates (eg employer’s certificate, ID card, etc.) correctly filled in, do they contain what they contain, are they signed and, where appropriate, sealed? Has any of the certificates expired? For example, your employer or APEH certificate is valid for 30 days from the date of issue, after which you will need to submit a new, fresh one.

Compliance testing of minimum conditions and parameters of loan demand.
It is important to clarify at the outset whether there is any fact that may be an obstacle to applying for a loan yourself. This includes the length of the client’s employment relationship, the age of the claimant (s), and the existence of documentation regarding the persons to be compulsorily involved, such as the beneficial owner of the property.

Credit evaluation process:


Data recording

The administrator records in the Bank’s IT administration system the main customer and real estate information, contact details and any other data related to the loan application that will serve as the basis for the credit assessment. This system processes the process step-by-step so the machine won’t let go until something is missing.

Ordering a valuation

For most banks, the management software automatically orders the valuation at the time of recording, usually randomly identifying one of the valuation partners.
Of course, there are banks where the valuation can be done before applying for a loan, with one (or any) of the valuation partners designated by the bank. Valuations are usually valid for 90 days, after which they will need to be updated when applying for a loan.

The appraiser will contact the client

At the given phone number, time is negotiated. At least one property owner must be present at the valuation, but this is usually not strictly mandatory and controlled.

Receipt of a valuation report

The appraiser either sends the appraisal to the bank via a computer interface or sends it in writing to the client or clerk.

Investigation of real estate parameters

Investigation of real estate parameters

In some cases, the valuation you receive may be overridden by a bank technician, or you may change the values ​​previously determined. The transaction value and collateral value of the property, the location of the property, the condition of the property, the type of masonry and the ownership of the property are monitored and recorded. The carrying capacity of the property is determined. The amount of credit the property can “hold”.

(Depending on the bank and the clerk, they can inform the client about the accepted value of the property, but this does not happen automatically. If we are not satisfied with the valuation as a client, we have the right to appeal or request another from another bank partner. right of last word.)

Examination of personal “parameters”

The personal details of each person involved in the credit transaction are carefully reviewed by the administrator and the decision maker to check their authenticity and adequacy. At this stage, the personal parameters are criticized, and if something goes wrong, they can either reject the credit request or request a replacement from the client. (This may not be the case if you are alert at the outset to the credit broker or the bank clerk who is applying.)

Examination of income, creditworthiness

Examination of income, creditworthiness

This part of the process determines the amount of credit the customer is entitled to. If the amount is less than the amount requested, the loan application will not be rejected, but an offer will be made to the applicant. It may even be the case that after negotiation, beneficial details are discovered and the loan amount can be raised.
It is checked how much income the bank can take into account based on the certificates and statements submitted. What is the client’s cost of living, is there any extraordinary but regular expense (eg child support fee) to pay off his / her loan other than the one being claimed? Is there a declined item on your current account statements due to lack of funds? If you have an overdraft credit line, how does the customer manage to often exceed their credit line? If so, how much? Are there regular incomes (eg child support fees) that the bank might count on?


Normally, within 1-2 weeks of the real estate valuation being made, the bank will make a formal decision on how much, for how long, and under what financial terms?

It is important that the bank usually maintains this decision for 2 months, during which time the loan agreement can be signed. It is also important that a bank can withdraw a positive decision at any time before it disburses, refuse to apply for a loan (my career has been with one client for 8 years, hopefully it will not happen again for at least another 8 years because it does not feel good – ed.). It is good to have a plan B if you know which bank to go to.

Concluding a contract

Concluding a contract

The clerk will contact the client after the credit decision and offer the client a date to sign the loan agreement at the branch.

Preparation of loan agreements

Personalized wording of credit agreements is ready. There is a basic contract, which the bank administrator and / or lawyer modifies, complements and fills in with the customer information.

Posting of credit agreements

Banks have automatically sent the contract to the client for prior study since the Code of Conduct, and will also be sent by email to the notary’s office, which will include the bank contract in an authentic instrument.

Signing of loan agreement, notarial deed


The loan agreement (and the mortgage agreement) is first signed at the bank branch and then signed by a notary in a deed. At the notary’s office, it is enough for the client (s) to appear, not the bank clerk. This is the time when a unilateral notarial deed is drawn up and the client makes a unilateral declaration of debts in favor of the bank). This type of contract can thus take up to two consecutive days, but always in the order given above. We do not need to bring the notarial deed with the Land Registry, only the loan and mortgage contracts signed by the bank.

There are cases when a notary’s office employee must be present at the bank branch signing, because notarial deeds can only be prepared in the presence of both parties. This is called a bilateral deed and its fee will be higher than a unilateral deed because it is larger in scope and is also subject to a withdrawal fee because the notary goes to the bank branch.

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