Welcome to MalaysiaHousingLoan.net. And today, I’m going to share with you, three mistakes that most borrowers do.
We do understand. Lately, the central bank had strengthened the policy, and it gets tougher to get a loan so hopefully with this video, it can help you when applying for a loan. Regardless, any loans like home loan, credit card, car loan or even personal loan.
So, let’s begin.
In my years of experience in a mortgage loan, I have seen a lot.
The first mistakes that usually a borrower does is do not pay their commitments on time.
Some borrowers are too busy or sometimes you just overlook to make the payments, regardless the reasons, it will affect your credit report if you did not pay on time.
The best solution will be, if you’re busy, make sure you have a standing instruction from your saving or current account to make the payment to your loan accounts. This way you can make sure that your credit conduct is flawless.
So, the recent trend shows that many people did not pay their PTPTN loan and if you think you can hide it forever, think again!
If you want to get a loan, you want to do something about your PTPTN loan. The easier way, go to PTPTN office, reschedule your loan, get a reschedule letter and remind them to update your ccris report. Once it is updated, you might have chances to get a loan approval again!
okay. The second mistakes that most borrower does were not manage their poor record well.
So, what I mean by this is, let’s say you have a special attention account for your credit cards facility. Anyone, with And account remarks on ccris, will have high chances of rejection from the bank.
And let said you have to make full payment to settle the loan. So, hooray! You think you can just apply for a new loan again. And suddenly, you still get a rejection for this reason. And then, you stumbled or puzzle what is happening?!
The reason is your special attention account is still appear on ccris. You need to remove that. Because if the remarks still there, it will trigger the approval authority that you have a poor conduct of payment before.
So, what you can do is go back to the poor stands facility bank and ask them to update and remove it from your ccris report. After updated, print your ccris report again and make sure the special attention account no longer appear on your ccris report.
What I’m saying is, if you have poor conduct before, you need to work harder to make sure your credit report on point. CCRIS report will show the latest 12 months conduct of payment, so you need to make sure you pay on time for this last 12 months.
The last and the most important OF ALL will be NOT PRINTING YOUR CCRIS REPORT BEFORE APPLYING FOR ANY LOANS.
We’ve been highlighting this issue for years. You need to get the CCRIS report. The reason is simple. The bank is based on your ccris report to give a loan. I would say, it stand almost 50% of your chances of approval. So, you need to see what on the report before the bank does.
If the report is flawless, then it’s great!
But, if not then may be you can do something about it or regularise your payment first, so that it looks much better and increase your approval chances.
So, if you have over limit in your credit card, you can bring it down , it looks way better.
Because, if you have over limit in credit card, it will give an impression that you have to stretch your financial capability to the max. And that is not a good thing.
so, we hope this video will benefit you and feel free to like and share this video. and we shall see you in our next video. Bye!