[Novice Teaching]7 Reasons Why You Can’t Borrow a Mortgage | Hong Kong 香港

The mortgage application was rejected and the final order ended. I believe everyone has heard of it. Don’t want to repeat the same mistakes? You must know the following 7 reasons why you cannot borrow a mortgage! Increase labor? During the mortgage approval period, if the applicant finds that the applicant has increased his salary by an unreasonable amount, for example, from 13,000 to 36,000, the bank will doubt whether the increase is a basic salary or whether it is a commission or whether the salary company has a large scale. If the applicant is suspected of “submitting a large number”, the other party will be required to submit more documents to prove it, and the application may even be rejected. How many streets to borrow? If you have already borrowed a personal loan, you should be careful about the payment and income ratio requirements of the HKMA when applying for a mortgage. Assuming that the applicant has a monthly income of 40,000 yuan, the contribution can be as high as 20,000 yuan based on the 50% upper limit of the contribution-to-income ratio. However, if a monthly personal loan of 10,000 is to be repaid, the repayment is included in the contribution-to-income ratio, which greatly reduces the borrowing capacity. The number of cards to be towed? The bank will check the credit rating of the mortgage applicant from Universal Credit. The current credit rating is divided into A to J, where A is the best and J is the worst. If the applicant has a long-term default on the number of cards in the past, only the minimum payment (min pay) will be paid each month, and the credit rating will be lowered. Even if the bank is willing to approve the mortgage, the mortgage interest rate may be higher than normal. Lawsuit-ridden? Even if you are a well-paid professional, you may not be able to apply for a mortgage 100% successfully. For example, a specialist has a high and stable income, but if a civil lawsuit is involved, you may lose tens of millions in compensation and bad credit records will appear. Public record”, the bank has the opportunity to reject its application. For households? Many people use automatic transfers to handle living expenses, such as paying their parents for household expenses, but the original bank pays attention to the applicant’s monthly fixed amount automatic transfers when approving mortgages. If this is the case, you will doubt whether there are hidden personal loans that lead to monthly repayments. If it is only a household transfer and the parents refuse to provide proof of account, the bank has the opportunity to refuse the application. If you want to avoid problems, you can withdraw cash through an automated teller machine. Buying an old building? Ordinary private housing estates are easier to take on mortgages, but if long-established properties such as tenements are involved, the building inspection will be more stringent. If the interval has been changed, it is different from the government plan, or the unit is a haunted house and it is difficult to change hands, the bank will have the opportunity to refuse to grant the mortgage. If you want to invest in relevant types of properties, you must be mentally prepared to reserve more funds. In an emergency? If you apply for a loan with a mortgage of less than 60%, the bank’s approval time will only take 1 week, but if you apply for mortgage insurance, it will take up to 21 days or more. In addition, after the government announced the new mortgage insurance plan in October, the bank is reviewing a large number of new mortgage applications, and more application time must be reserved, otherwise the bank may have the opportunity to decline your application! Of course, there are many factors that affect mortgage approval. If you don’t want to “Qin Men Tart”, you should ask a professional mortgage consultant for help! 📌 If you have any questions about the property market or mortgage, please leave a message below or contact our online customer service for inquiries: ▄▄▄▄▄▄▄⭐️ Featured videos⭐️ ▄▄▄▄▄▄▄▄ 📺[Beginners’ Mortgage Tutorial]class! 📺【Novice Teaching】Look at the process of buying a second-hand building step by step! 📺[Newbie Teaching]Dissolve the 5 “Limited” words in the Greater Bay Area 📺[Beginner Teaching]90% on the car is guaranteed FAQ ▼▼See more ▼▼ Now on ” HongKongFloorPlans”: Subscribe to ” HongKongFloorPlans” YouTube channel: Like ” HongKongFloorPlans” Facebook page: Follow ” HongKongFloorPlans” Instagram: Follow public account: meilian_hk ( HongKongFloorPlans Hong Kong).


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