My wife and I are both longstanding loyal FNB clients, we have applied for a joint home loan at FNB, ABSA, SBSA, ABSA and SBSA approved the home loan, and while I expected FNB to come back with the best offer as I am a client there with an outstanding credit record, they actually rejected my application stating affordability as the reason, the decision was appealed, but they rejected again. I contacted their Home Loan division, and asked for a breakdown of the calculations they made, 2 things came out, they calculated my wife's gross income at about R4000 less than her net income, they could have checked her net salary payment into her account for the last 2 years are average R4000 more than the gross they indicated, that is in effect about an R8000 difference, missing that twice, and the other thing that came out is that they ignored the rental income from a property we rent out because the property is financed at ABSA..what? They say it is because the rental contract is only from the beginning of December, but if they check the ABSA statements I sent with the application, they could see that the contract was only renewed, and that the tenant has been paying very promptly for months
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