My dream APARTMENT is stuck because I cannot get a bank loan 

I have been dreaming of buying a flat for a long time. Like many middle-class families, I want to have a home of my own. But for me, buying a flat is no longer simply a question of finding a suitable property. The biggest problem is arranging the money.

My salary has not increased in line with the rising cost of living. Every month, a large part of my income goes towards food, children’s education, transport, utility bills, healthcare and other family expenses.
After meeting these costs, there is not enough money left for substantial savings.

I realised that buying a flat only with my savings would take many years. So I started thinking about a bank housing loan. I believed a loan could help me pay for a flat while allowing me to repay the money through monthly instalments. But getting the loan has become another major obstacle.

Banks have several conditions for providing housing loans. A borrower has to show sufficient income and repayment capacity. There are also requirements related to employment, financial records, documents, existing liabilities and other matters.
I have not been able to meet all the conditions required for the loan I need.

This means that even though I want to buy a flat and am prepared to pay monthly instalments, I cannot move forward without the necessary financing. For a middle-class salaried person, this is a frustrating situation. The bank may be ready to provide a loan, but the amount a buyer needs and the amount the buyer can qualify for may not be the same.

The problem is also linked to income. A bank looks at whether a borrower can repay the loan regularly. But the borrower has to consider whether the monthly instalment will leave enough money for the rest of the family.

I cannot spend my entire salary on a housing loan. I still have to pay for food, education, transport, medical needs and other household expenses.

If the monthly instalment becomes too high, it could create another financial burden for my family. So, getting a housing loan does not mean that the financial pressure ends. It is only one part of the total cost of buying a flat.

Another concern is the long repayment period. A housing loan is usually a long-term commitment. I have to think about whether my income will remain stable and whether I will be able to continue paying the instalments for many years. For someone like me, the decision therefore involves several questions: How much can I borrow? How much down payment can I arrange? What will the monthly instalment be? And can I continue paying it while managing my family expenses?

At the moment, I do not have clear answers to all these questions. I still want to buy a flat. But my experience has taught me that the housing market is not only about the price of a flat. Access to finance is equally important. A flat may be available, and a buyer may be willing to purchase it, but if the buyer cannot obtain an affordable housing loan, the purchase cannot happen.

For me, the dream of owning a flat is therefore waiting on two things an income that can support the cost and a bank loan that I can actually qualify for and repay.

Until those two things come together, my dream of owning a home will remain on hold.