What can halt the process of loan sanctioning?

Everyone has a desire to buy their own house in one of the poshest locations that are ideal in all the aspects of living environment to the residents. But it is not so simple as purchasing involves a lot of difficulties. Firstly, you have to arrange a lot of cash and it is quite obvious that you don’t have such a large amount. So, you must seek the help of a banking institute who can aid in the financing section.

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One of the toughest parts is getting your loan approved from the bank department as they first judge your repaying capabilities then if you fulfil that criteria very well then, no bar can stop you in getting your loan sanctioned. But what if you don’t qualify the eligibility criteria and as a consequence, your application gets rejected? What will be the reason behind this disapproval?

The topmost cause would be your bad credit score that is becoming the biggest obstruction in your way. A person with a bad credit history will always get deprived of the loan approval as their past record of bill payments putting a black spot on their credit reports.

If you are having a court judgement in addition because of your long payment dues then it will work totally against you as these judgements will remain for several years if a proper step has not been taken to remove it on time. This makes the person on the list of the defaulters who are not liable to any kind of the loan facilities. But a person with a good credit rating is liable to enjoy the benefits related to the loan.

EQUITY SOLUTION offers the best housing loan in Singapore. If you are planning to buy a home and looking for the reliable lending service then you must contact us.

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