Anyone who is going to the credit system to obtain liquidity for their spending needs, knows that it will have to follow an iter through which the simple advanced request, at any financial intermediary, will have to adapt, improve and conclude. With a view to respecting the main parameters, which allow the subject to obtain any loan or financing formula, the primary requirements set as necessary conditions in the credit operating dictates must be met.
Pre-approval loan mean
It is evident that the proportional correlation between the applicant’s income capacity and the amount of risk capital represents the sine qua non, especially in personal loan formulas such as the assignment of the fifth, where it is essential to balance the maximum payable based on the transferable portion. Apart from these exceptions, a requirement which, under various terms, assumes a certain relevance is the fulfillment of the credit exposure protection, i.e. personal or real guarantees, atypical or even of third parties.
All of these elements will produce the effect for the intermediary to declare the loan pre-approved, reserving the task of the subsequent resolution, if deemed sufficient to satisfy bilaterally customer expectations and certainties for the lending institution. Put simply, this is the first step in the investigation phase of the actual application, so it will be necessary to provide all the documentation certifying the identity of the applicant and proving his income situation. It will be the task of the bank or financial institution in the second instance, when the pre-approval of the loan is deemed exhaustive for the continuation of the preliminary investigation, to specifically ascertain the presence of any causes impeding the effective resolution.
Such are, by way of example, being incurred in judicial recovery procedures, such as foreclosure, or being registered with the credit bureau, as bad payers for previous suspensions, thus tarnishing one’s own historical debtor. A pre-approved loan does not place any constraint whatsoever between the applicant and the credit or financial institution called to evaluate its requirements;
In this sense it could be defined as a kind of commercial estimate in which, in the face of the specific request, the guidelines on which the best possible offer will be formulated are detailed.
Pre-approval of an online loan
This falls within the marketing sphere of a banking or financial group and is a particularly important phase of the approach with customers, as well as being useful for defining the contractual conditions applicable on the basis of market trends and competition. All this has prompted the majority of financial intermediaries, engaged in the granting of credit in various capacities, to optimize resources using specialized professionals who, through dedicated web portals, are able to carry out the pre-approval of an online loan with timescales in the 24 hour order.
The simulation of a loan online, such as the assignment of the fifth on the salary, the pension or a mortgage, allows the future debtor to know tan and taeg, respectively nominal and effective annual percentage rate. On the basis of these rates, the related amortization plan will be drawn up, that is, the schedule of installments that will make up the repayment of the loaned amount for the agreed period. This will allow the future debtor to be able to collect the proposals of the various intermediaries, evaluating the one related to their periodic financial capacities.
The pre-approved loan constitutes certain proof of these conditions, which the applicant will rely on to provide consent to continue in the preliminary phase of the application, whose approval or resolution will follow the contractual acceptance by the customer and the subsequent disbursement of the agreed amount.