Housing Loan Enquiries Doubled : Arun Thukral, MD, CIBIL

Mr. Arun Thuk

Low ticket housing loans have decreased by half to 22% of all loans during the past 5 years because of steep increase in property prices.

Mr. Arun Thukral, MD, Credit Information Bureau of India Ltd (CIBIL) said, ''In the metros the loan ticket size of less than Rs. 10 lakh was 22% of total housing loans sanctioned in 2011. Nearly 75% of new accounts opened in 2011 had sanctioned amounts between Rs. 5 lakh and Rs. 50 lakh".

According to Mr. Arun Thukral  the shift is clearly towards higher value housing loans, indicating property price rise &  higher borrower affordability. For instance, more than Rs. 20 lakh ticket-size loans were about 48% of total home loans sanctioned in metro cities during 2011. Housing loan enquiries have more than doubled from Q1 of 2007 to Q3 of 2011. The first 3 quarters of 2011 also show an increase in home loan enquiries by 21% over the same period last year.

CIBIL Score and Loan acquired

Banks' housing loan customer acquisition quality has also increased, with 62.3% of the enquiries being least risky with credit score of over 800. CIBIL data also show that over 88% of new housing loan borrowers acquired in 2011 had a score of 750 and above.

CIBIL TransUnion Score is a 3 digit number that predicts if a borrower will become delinquent in the next 12 months. The score is between 300 &  900, with 900 being the least risky.

Src: BL

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