First National Bank
Home loan declined

I applied to fnb home loan for a loan of R1.2m through a bond originator Better Bond. My application was declined for the following reasons.

Affordability - after paying all my expenses excluding rent I have about 15k. Not sure how i am not going to afford repayments

Fnb credit card at legal - I repaid this credit card in full in 2009. I guess i'm still paying for it now cause this is one of the reasons for my decline.

Conduct of my account - there were four accounts that returned unpaid in August 2012 and the last one in December 2012 on my account. This is the one valid reason that I understand to be true.

I've worked so hard to get my finances in order. I even did a credit scoring on myself which came to 878. This was said to be a very good score. Yet I'm not getting a home loan. I understand that fnb is unable to give me a home loan at this stage but would like to know the corrective measures I could take to ensure that I get approval. Even looking at the debts that were returned unpaid they are all up to date.

So everyone looking at this must take a lesson not to take their credit profile for granted. It comes back to bite you when you need assistance..

Company: First National Bank
Country: South Africa
City: Home loans

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