Myself and my fiance applied for a homeloan through FNB. We both have been banking with FNB for over 10 years holding Platinum cards and Gold cards with them. We applied for a bond of R 1 100 000.00 and to our amazement only got approved for 86% (R946 000.00) We earn together roughly R55 000.00 per month and FNB stated that it has something to do with our credit score(rating) but can not tell us specific why we cant get a 100% bond
I than went to Transunion and bought a credit score points thing for myself and found that everything was clean and all was paid always. I than inquired this again and the lady said she doesn't know and there's definitely not a problem with affordability
We also noticed that the interest rate is 12.55% per anumn which is ridiculous. My car that Im driving is only10% and now your house is more.
We are highly frustrated with this as FNB has been our only bank our whole life.
Can someone give us some clarification with this as it seems that noone can.
We also thinking of switching everything over to a diff bank as it now has become ridiculous!!!