Banks highlight methods to reduce mortgage rejections

Quick Summary:

Clearing debts, disclosing all sources of income, preparing documents and avoiding rushed applications can reduce the mortgage rejection rate, which rose to an average of 45% in the first quarter, according to financial institutions.

"We haven't adjusted our criteria, but household debt is affecting loan approvals," said Mr Apirat.

"In many cases, once the information is entered into the system, the debt burden exceeds the income, leading to a rejection".

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Loan Credit Financial Mortgage Apirat Bank Rejection Income Baht Debt Applications

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-17 @ 03:30:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 609 words

Reading Time: 4 minutes read

Sentences: 35 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 27957211

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 3 posts per day

Year Established: 1946

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News Last Updated: 7 hours ago

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Publisher ID: #66

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