Bank said No!

Banks Said No to your home loan?

When a bank said NO, let Internet Home Loans look at your home loan requirement. We can usually find a home loan or solution for you.

The Banks may have said no to your home loan for lots of reasons… some valid but in many cases, not so valid. If some bank said no, your allocated broker may be able to turn this into a YES by presenting your home loan application to a lender with a different home loan approval policy. These could often be non bank home loans.

Some of the situations where some banks said NO but other lenders we can access have said YES :

  • Credit defaults past or current
  • Short term employment home loans or home loans for casual employment
  • Home loan where some income is sourced from Centrelink or Child support
  • A fast home loan approval is needed
  • Home loan borrowing capacity is not enough
  • A home loan with no deposit
  • Bank valuation was too low

 

The list goes on! … tell us the issue you believe your bank or broker has with your application.Some real examples where we have helped:

A single mum applicant who applied for her home loan via Internet Home Loans was approved by the same big bank that told her no! It seems the person she spoke to at the bank didn't listen closely enough to her entire situation. We can access lenders that will do home loans for single mums.

An IT expert changed jobs and was on a 3 month probation period. He had been banking with the same bank for his entire working life and they could see his increased income. His bank said no to his loan whilst on his probation period. We set the loan with another lender … and the customer moved the rest of his banking there too!

Three credit defaults were discovered at time of application for one customer. These were in his file due to unpaid bills left behind by a former partner. A non bank loan provided an excellent solution, allowing refinance of the current mortgage, consolidation of current debts and payout of the past credit defaults. Applicant was actually $471 per month better off in commitments after the consolidation.