I applied to a homeloan to Nedbank with my wife at the time and was granted for R505000 in 2005. i was granted an interest rate of Prime minus 1.45. i continued to take on the installment on my own and paid the bond off in EIGHT years with no help from ex for three years. In october 2013, my salary tripled and my disposal income after all expenses sits close to R12000 4400 per month (stops in four months) hence R16.500 and i have a property in midrand noordwyk of considerable value. i apply for a home loan around R600000 and i am REJECTED based on my property valuation
1. heres the deal, my property according to three agents valued it at R800000 and PAID OFF
2. municiple valuation is R7300000
3. Disposal income of OVER R16000
4. Plus R7000 rental which i excluded for my old home so i wont mention 22-23 grands to spare after commitments
5. plus i have a car valued at R70000 at market value which is PAID OFF
6. my bank bal is highly positive with no overdraft and i have no retail debt
Now nedbank DECLINES my loan application but another bank grants me in a days time which i wont mention in this article as there is some in the home loans division doesnt have common sense
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