Mortgage Credit: 3 errors that delay approval.

Small mistakes - whether in documentation, choice of the bank, or communication with the institution - can cost time, money, and even the property you want to buy. In many cases, just a careful check could avoid weeks of delay.

If you are about to apply for a housing loan, discover the three most common mistakes that compromise approval and know how to ensure a faster and safer process.

Submit incomplete or outdated documentation.

One of the most common mistakes is submitting the application with missing or overdue documents. Banks evaluate dozens of details before making a decision: income, job stability, credit history, and existing liabilities. Any missing documentation delays everything.

Check before handing over:

• Last income tax return and assessment notice;
• Pay slips (last 3 months);
• Proof of employment relationship or contract.
• Statements of other ongoing credits;
• Property documents (property booklet, registration certificate, technical datasheet).

Another essential point is to keep the net income updated: if you changed jobs or moved from a fixed-term to permanent contract, this information can improve your effort rate and strengthen approval.

Tip: Merge all files into a single PDF by document type, this speeds up the bank's internal analysis.

Ignore the effort rate and the bank conditions

The effort rate is one of the most weighted criteria in the credit decision. In 2026, the Bank of Portugal continues to recommend a maximum limit of 35% of the available net income for the payment of monthly credits. Many requests are simply denied for exceeding this threshold.

Before formally requesting credit, add up all monthly payments (car, cards, personal loans) and confirm the impact of the new installment. If it exceeds the limit, you may need to consolidate existing credits or negotiate longer terms.

It is also important to compare the APR (Annual Percentage Rate) between institutions. Small differences in interest rates translate into hundreds of euros over the contract. Use the MTIC (Total Amount Imputed to the Consumer) to understand the total cost of the loan, including fees, insurance, and taxes.

Common mistake: accepting the first simulation presented. Always ask for at least 3 proposals from different banks and negotiate before signing. We can help you!

Missing deadlines and communication during the process.

Mortgage credit has a tight schedule. After pre-approval, there are short deadlines to submit additional documents, update insurance, and validate the deed. When the buyer does not meet these deadlines, the process goes back to the queue and may lose the opportunity to buy the property.

How to avoid:

• Request in writing all deadlines from the bank and verify the deadline dates of each stage.
• Learn what depends on the seller, notary, and credit intermediary.
• If the bank requests additional documentation, send it on the same day.
• Confirm if the bank valuation was scheduled and validated.

In addition, keep regular contact with your account manager. Many delays result from simple communication failures or documents that are forgotten in email.

If you are looking for a house but have not yet advanced with the credit, start with the essential step: simulating.

With us you can compare rates, predict the monthly installment, and discover which banks offer the most advantageous conditions for your profile.