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Loan Application

Request fields for loan applications

There are two types of loan application, as defined by the purpose field:

  • new-loan: used when the customer has a new object (real estate property) they want to purchase;
  • transfer-loan: used when the customer has an existing object (real estate property) and want to move the loans from another financial institution to SBAB.

Note: familiarize yourself with the model of the request data for loan applications in our Sandbox environment.

For both types of applications, there are a few common fields that are applicable: loan_applicant, co_loan_applicants, child_information, collateral_for_loan (with some difference on the content), loan_amount, loans_to_keep, accommodations, notes and administrator.

New loan

For new loan applications, you have to set the field payment_date and shouldn't set loans_to_transfer.

If you apply for a new loan you leave transfer-loans empty, this is only set when you have actual loan to transfer. The amortization rule should only be set when the purpose is new-loan. Note that for loans-to-transfer it is good to provide condition_rollover_date if you have that information.

Below you can see a snippet of a new loan application object with some sample values:

{ "purpose": "new-loan", "payment_date": "2020-01-15", "loan_applicant": ... , "co_loan_applicants": [...], "child_information": ... , "collateral_for_loan": ... , "loan_amount": 5000000, "loans_to_keep": [...], "accommodations": [...], "notes": "Information for the loan review, e.g. about down payment, household income", "administrator": ... }

Transfer loan

For loan transfers, payment_date is not set and loans_to_transfer is mandatory. The field amortisation_rule_before_march2018 should also be set, according to the application or not of the new amortization percentage determined by Finansinspektionen (FI).

Below you can see a snippet of a loan transfer application object with some sample values:

{ "purpose": "transfer-loan", "loan_applicant": ... , "co_loan_applicants": [...], "child_information": ... , "collateral_for_loan": ... , "loan_amount": 5000000, "loans_to_transfer": [...] , "amortisation_rule_before_march2018": ... , "loans_to_keep": [...], "accommodations": [...], "notes": "Information for the loan review, e.g. about down payment, household income", "administrator": ... }

Other fields

For the common fields, here are some extra details about the purpose of some of them.

Administrator

In order to let SBAB know who helped the customer to send in the application, an administrator with a name and an internal ID can be informed:

{ ... "administrator": { "name": "Sven Svensson", "id": "123-abc" }, ... }

Collateral for loan

There are several fields that comprise collateral_for_loan, and which ones are required vary according to the type of the collateral, as well as if the application is a new loan or a transfer:

  • house or vacation-house (same fields apply for both, it only differes by type):
    { ... "collateral_for_loan": { "type": "house", "collateral_value": 5000000, "assess_value": 1200000, "living_space": 67, "property_designation": "Stockholm Södermalm 1:123", "postal_code": "12345" }, ... }
  • tenant-owned-apartment:
    { ... "collateral_for_loan": { "type": "tenant-owned-apartment", "collateral_value": 5000000, "street_address": "Drottninggatan 123", "postal_code": "12345", "apartment_number": "123", "number_of_rooms": 2, "living_space": 67, "monthly_cost": 4500, "tenant_owners_association_organisation_number": "7123456789", "tenant_owners_association_name": "BRF Namn" }, ... }

Also, the contents of collateral_value vary according to the type of loan application being submitted:

  • new-loan: the purchase value for the property (köpeskilling);
  • transfer-loan: estimated market value (either from the applicant or a calculated valuation).

Accommodations

Under this field is added information regarding objects that the applicant own or rent that will be kept. Loans associated to the accommodations are provided under loans to keep.

Here is an example of the described information:

{ ... "accommodations": [ { "type": "vacation-house", "monthly_cost": 2000, "assess_value": 750000, "ownership_share": 0.5 }, { "type": "house", "monthly_cost": 2000, "assess_value": 1000000, "ownership_share": 0.75 }, { "type": "tenant-owned-apartment", "monthly_cost": 2000 }, { "type": "rented-housing", "monthly_cost": 2000 } ], "loans_to_keep": [ { "type": "vacation-house-loan", "ownership_share_of_loan": 0.5, "loan_amount": 1100000 }, { "type": "house-loan", "ownership_share_of_loan": 0.5, "loan_amount": 1100000 }, { "type": "tenant-owned-apartment-loan", "ownership_share_of_loan": 0.5, "loan_amount": 1100000 }, { "type": "blanco-loan", "loan_amount": 100000 } ], ...

Applicants

When specifying the main applicant or co-applicants, required employment-related fields depend on the value of the employment_type field: if employed then employer, profession and date_of_employment are required; if self-employed then date_of_employment is requried; if retired, unemployed or student then none of these three fields are needed.

Example:

{ ... "loan_applicant": { "employment_type": "retired", "email": "email@email.com", "phone_number": "0700000000", "personal_identity_number": "193001010000", "marital_status": "married", "monthly_income": 30000 }, "co_loan_applicants": [ { "email": "mail@mail.com", "phone_number": "0701111111", "date_of_employment": "2017-10-01", "personal_identity_number": "198001019999", "marital_status": "married", "monthly_income": 40000, "employment_type": "employed", "employer": "Företag AB", "profession": "Arbetare" } ] }

Cost of cars

An example of cost of cars, shown as cars_information in the json below looking the same for LTL/PA/LA. In the example one leased and two owned cars belong to all the applicants:

{ ... "cars_information": { "leased": [ { "monthly_cost": 1500 } ], "owned": [ { "loan_amount": 0 }, { "loan_amount": 75000 } ] }, ... }

This cost of cars information will sum up to a total monthly cost of 1500 + 1300 + 1300 = 4100 SEK used in the calculation.

One extra blanco loan of 75 000 SEK will also be added to other given kept blanco loans in the application.

Child information

There are 4 scenarios for child information to be added:

Note that you can only add integer numbers so roundup to the nearest whole number if needed

  1. Nuclear parenting (parents are applicants and living together)
"child_information": { "number_with_allowance": 2, "number_paying_child_support": 0, "number_receiving_child_support": 0 },
  1. Shared parenting (50/50)
"child_information": { "number_with_allowance": 1, "number_paying_child_support": 0, "number_receiving_child_support": 0 },
  1. Child living full time with the applicant (receiving child support)
"child_information": { "number_with_allowance": 1, "number_paying_child_support": 0, "number_receiving_child_support": 1 },
  1. Child living full time with the other parent ie. not any of the applicant/s (paying child support)
"child_information": { "number_with_allowance": 0, "number_paying_child_support": 1, "number_receiving_child_support": 0 },

Response examples

Here are some examples of possible responses:

  • a successful application, including signing information:
    { "loan_application_id": "c7650005-d166-4f53-bdf1-55fd2db2a9c3", "signing_process": { "expiry_date": "2024-07-07T12:52:17.532009846+02:00", "participants": [ { "personal_identity_number": "197211113456", "id": "940e612a-850b-4e9a-954a-8a9133cee4e5", "signed": false } ] } }
  • a failure (HTTP 400) due to a failed Left to Live calculation (more likely if Left to Live is not executed before the application, or if the sent parameters are different in some way between both calls):
    [ { "message": "Left to live value is negative", "property_path": "LeftToLiveValue", "error_code": "Left to live value is negative", "invalid_value": "LeftToLiveValue: -189" } ]
  • a failure (HTTP 400) due to a high loan ratio:
    [ { "message": "Loan Amount too high compared to Collateral Value. Maximum ratio is 95%, calculated loan distribution values: mortgage amount: 3400000 blanco amount: 400000 non approved amount: 200000", "property_path": "LoanAmount", "error_code": "Loan ratio is too high", "invalid_value": "LoanAmount: 3900000, CollateralValue: 4000000" } ]
  • a failure (HTTP 400) due to a high debt ratio:
    [ { "message": "Debt ratio is higher than 5.5", "property_path": "DebtRatio", "error_code": "Debt ratio is too high", "invalid_value": "Debt ratio is : 6.39" } ]