You have been banking with the same bank or had a loan with the same lender for many years. You believe you have been a great client and paid on time. Therefore when it comes time to obtain a new loan, you would hope that your loyalty and good history would account for something and make the process of obtaining a new loan easy. RIGHT?
The unfortunate truth is that this is not the case. There are many reasons for this, however a Mortgage or Finance Broker such as ourselves can go in and bat for you and get the right answers from the right department to help get your loan over the line. This may be with your current lender or someone new.
We had a client who had a long term history with their current lender and bank. They had decided they had outgrown their home and wanted to upgrade. They had been a great customer and paid their repayments on time and were even ahead on their mortgage. Unfortunately due to some irregularities in their self employed income, their current lender made it difficult for them to obtain a loan. We were able to work with both the client and their accountant to obtain and paint a full picture to the lender about the scenario and the circumstance surrounding the irregularities. We put the case forward and the loan was approved. Clients are now enjoying the extra space and breathing a little easier.
If you are frustrated with your current lender in regards to increasing or obtaining a new loan, contact us we are certainly happy to have a discussion to see how we could help.