02 4978 8600
1300 137 656

Have You Been Declined Finance Elsewhere?

There have been many occasions when customers have come to us after having been declined elsewhere, and in a lot of cases we have been able to obtain a finance approval. What it often comes down to is each lender having different guidelines or credit policy. Depending on your particular circumstances you may not fit one lender’s guidelines, but may in fact comfortably fit another’s.

Below is a list of common scenarios where a customer has been declined elsewhere but we were still able to obtain a finance approval:

  • Customer had recently commenced a new business
  • Customer had recently changed jobs
  • Equipment being purchased was considered too “old”
  • Minor credit impairment (eg Telco Defaults)
  • Loan amount was too small
  • Lender required a deposit
  • Customer could not provide current financial statements
  • Customer could not demonstrate 5% savings held in their account (Mortgage Transaction)

In addition to these common scenarios, there have been many other cases where we have obtained a finance approval where other lenders and brokers have not. Due to our experience and expertise in dealing specifically with the self-employed we have successfully negotiated a positive outcome by highlighting certain details or figures that were previously overlooked.

If you think you have been unfairly declined elsewhere, then contact us to see if we can help.

 

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