The rising property prices in the past five years have seen fall in small loan sales, with only around 22% of loans sold in 2011 were under Rs. 10 lakh.
About three-quarters of home loans sanctioned in the last year were in the range of Rs. 5 lakh to Rs. 50 lakh, said Mr. Arun Thukral, Chairman MD, Credit Information Bureau (India) Limited.
The move is clearly towards the bigger ticket loans, with around 48% of new sanctioned loans in 2011 were above Rs. 20 lakh. "Home loan enquiries have more than doubled from Q1 of 2007 to Q3 of 2011. The first three quarters of 2011 also show an increase in home loan enquiries by 21 per cent over the same period last year," said Mr. Thukral.
There has also been an increase in the quality of customer acquisition. CIBIL data also revealed that over 88% of the new home loan purchasers in 2011 had a credit score of 750 or above.
CIBIL TransUnion Score determines the repayment abilities of the borrower. The scale ranges from 300 to 900; with 300 being most likely to default, and 900 being the least risky.