Looking
to the increase in home loan enquiries in last few years which
indicates the increase in demand for loans, CIBIL has now asked the
customers to check their credit scores if they are planning to apply
for the loan in near future.
Due
to increase in the property prices and the affording capacity of the
customers, the amount of the loans has also been increased in
comparison to last fiscal. There has been massive increase in the
value of the loans.
“More than
one-third of borrowers sanctioned home loans in 2011 were less than
35 years of age and 70 per cent less than 45 years of age”, said
Mr. Arun Thukral, Managing Director. Almost every bank now assesses
the CIBIL report and CIBIL TransUnion scores.
Borrowers with the
credit score of 750 and above are more likely to get home loans
easily sanctioned.
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