So, when the computer says no, is that the end of the Australian dream?
According to a survey of 1,100 people 18% of those surveyed have been turned down for a home loan and nearly one in ten were rejected by one of the big four banks. (Survey by Pepper Money in May 2017)
More than a quarter that were turned down for a loan were either self-employed or worked part time.
Here’s the kicker more than half of those rejected were unaware that there was another option available.
The good news is that one size does not fit all, each bank has a different policy when it comes to assessing your ability to service a loan so when one door shuts you just need to know where to look to open the right door.
Having access to a panel of lenders will allow you to find the right loan for you and having a broker that understands your needs fully will further allow you to get on the right path to achieve your financial goals.
We love nothing more than helping or clients achieve their goals so give us a call for a no obligation chat about your financial future.