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Anonymous

08 Jun 2021

∙

I tried contacting banks and few brokers for a residential loan. Either they did not return my calls or did not get back to me?

I was wondering what could be the issue. One reason I thought is the amount of my loan is too small for them to even bothered.
Any other possible reason(s) why they did not even bothered to even tell me the loan was not approved?
Or they could at least tell me they are unable to proceed the IPA for whatever reason.

AMA Stacked Homes

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Duane Cheng

20 Nov 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

I think there insufficient information with regards to your question.

Possible scenarios where you are unable to receive a residential loan:

Loan Quantum too small
TDSR
Credit Score

That being said, they should contact you in any case. You could be meeting with a transactional person, as they don't see an equitable relationship with yourself.

Hope I was able to shed some insight, if you like some help in this area, do reach out!

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