REASONS FOR APPLICATION BEING
DECLINED
- AGE FACTORS- UNDER AGED (BELOW 18) OR TOO OLD TO BE ABLE TO SERVICE A 25 YEAR TERM BASED ON CURRENT PROFESSION…LENDERS SHOULD NORMALLY NOT DISCRIMINATE AGAINST OLDER AGE
- NON-RESIDENT OR OTHER VISA
- DEPOSIT MAY NOT BE SAVED FOR REQUIRED PERIOD-LUMP SUM/ONLY GIFTED DEPOSIT & NO EVIDENCE OF ANY SAVINGS FROM APPLICANT
- SOURCE OF DEPOSIT NOT EXPLAINED SATISFACTORILY-NO PAPER TRAIL
- FREQUENT CHANGE OF EMPLOYMENT W/OUT VALID REASONS
- FREQUENT CHANGE OF RESIDENTIAL ADDRESS
- INCOME IS EXTREMELY IRREGULAR- IRREGULAR DEPOSITS TO A/C
- SOURCE OF INCOME NOT CONFIRMED OR UNACCEPTABLE TO LENDER
- IN CURRENT EMPLOYMENT ROLE FOR BRIEF PERIOD WITH NO PRIOR WORK HISTORY EITHER IN NZ OR OVERSEAS
- INSUFFICIENT INCOME FOR AMOUNT REQUIRED AS ON APPLICATION
- TOO MANY EXTERNAL BORROWINGS – HP’S, CREDIT CARDS/S, PERSONAL LOAN/S, DEFERRED INSTALMENT PLANS…
- BANK ACCOUNT CONDUCT NOT ACCEPTABLE (REFER TIPS OF LAST WEEK)
- A/P’S & D/D’S REVERSED WITHOUT STRONG REASONING
- INFO DISCLOSED IS INCORRECT / INCOMPLETE – APPLICATION COULD EARLIER HAVE GONE TO SAME LENDER WITH DIFFERING INFORMATION.
- NON-DISCLOSURE OF INFO IS QUITE SERIOUSLY VIEWED
- BAYCORP HISTORY NOT GOOD ENOUGH
- INSUFFICIENT TRADING PERIOD FOR SELF-EMPLOYED
- WRONGLY ASSESSED BY LENDER
- PROPERTY NOT ACCEPTABLE TO LENDER
- IF REFINANCING – HAS MISSED REPAYMENTS ON HOME LOAN TO PREVIOUS LENDER IN THE LAST 6 – 12 MONTHS
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