Each lender has their own lending criteria, and these are the basis for their credit decisions. When we assess a home loan application, we look at a number of different sources to decide if we can approve it.
There are a few reasons why your application may not have been approved, including:
- Your loan repayment capacity, taking into account your income, expenses, existing financial commitments, and the ratio of debt to your income.
- The nature and stability of your employment.
- Your credit history, which we obtained from Equifax and Illion.
- The value of your property compared to the size of your loan.
- The property linked to your application may not meet our specific credit criteria.
We wish we could tell you specifically why sometimes, but we're not allowed to disclose the exact reason for declining an application. However, if you’re not a match right now, don’t hesitate to check again later in the future.
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