What criteria is used to assess loan applications?

 RMBL requires Borrowers to provide RMBL with the following information to assess the suitability of the proposed loan:
 
  • details of current assets and liabilities and other relevant financial information;
  • where a loan is for construction or development purposes, details of costs involved and pre-sales obtained as well as any building contracts;
  • copies of contracts of sale;
  • identification check.

All of this information is then provided to RMBL’s Credit Committee who assess this information having regard to the suitability of the Borrower and quality of the security property. A majority of the Credit Committee must agree to approve the Loan.

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