I have no debt proceedings, no defaults, no ZEK codes, I am working and yet my application is denied?
Do you have a job with a good income, no debt proceedings or defaults to date or in the past? Your Delta Vista is therefore blank? You have never taken out any private loans in your life and your credit cards are paid on time, therefore there are no negative codes registered at ZEK?
The situation seems ideal for obtaining a loan. You have filled out an online loan application, you are fully confident that you can only receive a positive answer.
24 hours later, the unthinkable happens and you are shocked: the bank dared to deny your application! How is that possible, what went wrong?
A clean record does not guarantee a loan
A lot of people fall into the trap of thinking that having a job, no debt proceedings and no ZEK code guarantee a green light to a loan. This is a misconception because alas (and fortunately) these are not the only criteria used by banks. And it’s never good to be turned down by a bank, the ZEK will be notified and a rejection code will be registered!
The 8 main reasons for a refusal despite a healthy financial situation
- You are under 18 years old (and under 25 the conditions are stricter)
- The amount of your loan application is above the legal limit (calculation based on your income/expenses)
- You have a B permit less than 6 months old
- You are a cross-border commuter, you work in the canton of Vaud, and your employment contract with the same employer is less than 3 years
- You have disability insurance and the amount of the loan is 5 times the monthly payment
- You are an international official and your main residence is abroad
- You are married and your spouse’s financial situation is not healthy with current proceedings or proceedings that were not struck off
- Your scoring puts you in the at-risk category. For example: you frequently change jobs and place of residence, your nationality, your type of employment, your income bracket, etc.
How to avoid the pitfalls of a refusal
As you can see, the reasons are many and varied. To protect yourself from unpleasant surprises, the best solution is to get advice from a bank-approved broker who knows the LCC law and the requirements of the various banks inside out.
All CC Crédits Conseils SA’s counsellors are certified professionals and they will support you free of charge through the different stages of your process. Their personal advice and in-depth analysis of each case maximise your chances of obtaining a bank loan.
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