Tuesday, 30 August 2011
Why you need to motivate your home loan application.
For example, if you have finished or are finishing your monthly car repayments now, or in a couple of months’ time, it is important to supply this information in the home loan motivation with the necessary proof to establish the your true and realistic affordability.
Another example may be if you are a rehabilitated insolvent. In this instance it is necessary to supply a full explanation regarding the circumstances that resulted in the insolvency as well as a copy of the certificate of rehabilitation and a copy of the final liquidation and distribution statement reflecting details of all of your creditors. A mortgage origination consultant would, however, use a motivation whenever they feel it is necessary to highlight positive attributes about the you as their client and the property and to remove any negative attributes such as past adverse credit score and sentiment.