Mr$.$ A applies for $$350,000$ to buy an inner city apartment. His income seems to be more than sufficient to service the loan but there are no further details regarding the purchase of the apartment $($including the purchase price of the apartment$).$ What is the best course of action, and the correct reason for that action?

Question $6$Select one:

a$.$

Accept the loan as the applicant has sufficient income to service the loan.

b$.$

Reject the loan as the application does not make clear what deposit Mr A is providing and there is no mention of other costs such as stamp duties and legal costs. Once these issues are made clear, the loan can be reassessed.

c$.$

Accept the loan, Mr A has a good financial history with the bank.

d$.$

Reject the loan, as we are not expecting the price of these apartment to increase. If Mr A defaults we will not be able to sell the apartment easily.

e$.$

None of the above