Mortgage Rejection Rates Not High

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Mortgage Rejection Rates Not High

‘Mortgage rejection rates not as high as 50%’

Summary :

Malayan Banking Bhd (Maybank) president and chief executive officer Datuk Abdul Farid Alias refuted claims that the rejection rate of housing loans has soared above 50% among the banks.

Housing loan applications last year totalled 456,853,
The total number rejected was 93,159
Which translated into a rejection rate of 20.39%.

The reasons for loan rejection included:-
1. Applications that exceed the debt service ratio (DSR)
2. Failure in the Central Credit Reference Information System ( CCRIS) assessment
3. Banks change their targeted loan segments
4. Insufficient income repayment capability.

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By | 2016-11-01T10:45:59+00:00 April 12th, 2016|Home Loan Library, Latest News and Update|0 Comments

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