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Lånelöfte (mortgage) application

Inflexible banks

Pegasus82
post 4.Apr.2018, 10:43 AM
Post #1
Joined: 11.Sep.2017

Hi,

I am having difficulty getting a mortgage approval (lånelöfte) and am asking if anyone knows of a bank or lending institution who take a more personal approach to mortgage applications.

The crux of the problem is that I have been living & working for the last 4.5 years outside of Sweden, so not paying tax in Sweden.

Further facts:
1: I am a Swedish citizen
2: I have a tillsvidareanställd (permanent) job
3: I have no negative marks on my credit history (but as noted above, I have no positive marks either!)
4: I have a 25% deposit for the house I want.
5: My gross yearly pay is 1/5th the purchase-price of the house.

I have a bank account with Swedbank, so naturually they are who I applied with. I applied online and it was denied. No specific reason, but I did get the UC credit report (see above).

I went into a branch to speak to a human, and they said "No" without even so much as looking at my job/pay/tax returns from 2005-2014/deposit.

The person at the counter even got "an advisor" to come out and see me and he reiterated that they will not consider me with my credit score. I asked what I could do to improve my chances, and his answer was to pay tax for about 2 years.

When I said that this doesn't really seem helpful, he shrugged his shoulders.
When I said that I would gladly move my accounts to another bank, his response was, no joke, "Good luck".

So, any advice?


Thanks
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Uncle Fred
post 4.Apr.2018, 11:43 AM
Post #2
Joined: 16.Apr.2008

QUOTE (Pegasus82 @ 4.Apr.2018, 11:43 AM) *
Hi,I am having difficulty getting a mortgage approval (lånelöfte) and am asking if anyone knows of a bank or lending institution who take a more personal approach to mortgag ... (show full quote)

Did you ask the bank what was the problem, did you get an answer. It maybe the length of time you have been working in Sweden is insufficient. What I don't understand is why, if you are Swedish why ask here.
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nicola4444
post 4.Apr.2018, 12:40 PM
Post #3
Joined: 4.Oct.2015

Do you have a permanent job contract in Sweden now? (and are past the provanställning period)

if so, might be worth asking around at other banks
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gse1986
post 6.Apr.2018, 09:19 AM
Post #4
Joined: 20.Aug.2015

Perhaps try Länsförsäkringar? We got our mortgage through them and didnt have 2 years of tax history in Sweden.

On the topic of Swedbank though, i found them incredibly unhelpful when trying to get an account - they insisted I needed a personnummer for an account, despite their website saying differently, then when I finally did get a personnummer, they said they had enough customers right now, come back in 4-6 months time. I've not been back and am very satisfied with Länsförsäkringar
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gsurya
post 6.Apr.2018, 11:07 AM
Post #5
Location: Malmö
Joined: 8.Jan.2010

I have been living and working in Sweden since Oct 2017. In the last month, I found an new, under construction, apartment I liked and wanted to purchase.

SwedBank & Danske Bank were most unhelpful, Handelsbanken was the first to give me a loan offer and SEB was next.

The deal went through smoothly, and I paid my first installment today. Was quite impressed with the clear & concise processes here in Sweden - its my first apartment purchased outside India!
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Essingen55
post 7.Apr.2018, 10:57 AM
Post #6
Joined: 12.Dec.2013

QUOTE
The crux of the problem is that I have been living & working for the last 4.5 years outside of Sweden, so not paying tax in Sweden.


Where have you been living and working?
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cherrybubble
post 11.Apr.2018, 09:51 AM
Post #7
Joined: 17.Oct.2012

QUOTE (Pegasus82 @ 4.Apr.2018, 10:43 AM) *
When I said that I would gladly move my accounts to another bank, his response was, no joke, "Good luck".

Ugh, what an asshole. I had a similar experience at SEB (where we had our bank accounts) when I went in and asked what the process for a housing loan was, this supercilious asshole came out to talk to me, basically looked at his phone for most of the conversation, sniggered when I told him we had been in Sweden for a year and dismissed me. It was humiliating and depressing.

We had no problems getting a loan from handelsbanken.

Shop around, I know lots of people get loans from banks to buy houses without having two years worth of tax history in Sweden.
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bmg123
post 11.Apr.2018, 01:07 PM
Post #8
Joined: 13.Aug.2015

The problem is related to the fact that your credit report has no data from Skatteverket. All applications for pre-approval involved running a UC report(or the like). Since you have no data, it's problematic. I called SBAB prior to applying and they indicated that 2 years worth of data needs to be there for them to even consider a pre-approval. I can only assume that is the same for most banks. One would think that a bank could verify your tax account and therefore income through various other methods, perhaps there is. If you find one please share it here.
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Essingen55
post 12.Apr.2018, 08:10 AM
Post #9
Joined: 12.Dec.2013

If you have good credit history in another EU country, try pursuing it by saying that you will lodge a formal complaint against the bank for discriminating against the free movement of labour within the EU because they refuse to take your good credit history in another EU country into account.
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globetrotter
post 17.Apr.2018, 11:00 AM
Post #10
Joined: 16.Apr.2018

QUOTE (Essingen55 @ 12.Apr.2018, 08:10 AM) *
If you have good credit history in another EU country, try pursuing it by saying that you will lodge a formal complaint against the bank for discriminating against the free mo ... (show full quote)



How does one go about "transferring" his/her credit history from another EU country (note: I am not a citizen from EU country)? I have been living in the UK since over 8 years, working here since just over 7 years now. My wife and I are moving to Sweden in May as I have been offered a permanent job. We are thinking of buying a house as soon as we realistically can. In the UK I have been offered loan from bank couple of times (repaid and done) without any concern, credit card offered - no problem and same story with mobile phone contracts. So I think my credit history if good - just trying to see whether I can use it in Sweden for buying a house?
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