I applied for a home loan from fnb for a 2nd property through a mortgage originator. The following day a response came back saying my application was rejected though they may review decision after they received more information. What more information they wanted they did not specify. I wrote a motivation explaining what my finances were as I did not understand how they determined that my living expenses were over 9000. This is inaccurate. I even have to cancel my credit card but still nothing seems to be sufficient for fnb. Given that I have a bond with fnb and I am way ahead of my payments and I still have substantial amount of disposble income to afford repayments, I was shocked at the decision fnb came to. I understand fnb has procedures for determining affordability however your machines I would believe I flawed. The only credit I have is a bond but I still could not qualify for a home loan of 785 000 from my bank fnb. I am disappointed but you probably are immune to this statement as you hear it every second.
I am not sure how you can assist but assistance would be appreciated or an explanation of how they reached to a living expense of over 9000 while mine is just above 6.
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