We recently assisted a client who found himself in a tricky situation after receiving pre-approval with a lender, purchased a property and then was told the application couldn’t be approved. The trouble was that the Bank Manager who granted the pre-approval was no longer there and the current Bank Manager would not grant approval, with no particular reason why.
We reviewed the client’s current position and looked at their existing loans and entire financial statement of position. We began working with our network of lenders to find an alternative option for our client and during our time reviewing his existing loans, we found that there were other lenders who could service his current debts in a better way. By having these debts serviced slightly differently, our client was able to gain a higher borrowing capacity and service his loan application.
We were able to successfully secure a better home loan rate than the initial offer, while also allowing for his current debts to be serviced for efficiently. The client was incredibly grateful for all the extra hard work we put in and was finally able to achieve his goal of completing the purchase, which he had been working on for months. With our experienced and reliable advice, our client is now able to reach his future goals.