There are several factors that the bank will take into consideration when assessing your application for a refinance. Sometimes, your application is rejected, even when you feel that your credit and
finance profile are pretty good. If that’s so, what is the reason that’s preventing them from accepting your application?
One of my clients, Mr. AAA, has excellent credit profile and is financially strong – which was why I rated him as AAA. He requested for my assistance in refinancing out of his current home loan to a better rated home loan product. Very soon, it was made known that his property refinancing application was rejected and I had to bring the bad news to him.
What exactly happened?
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