Credit Defaults, Spouse Visa and Probation Period – Home Loan Approved!
We help many clients, in situations where perhaps they do not have a 20% deposit or have been declined by other banks or brokers. One example of this came in October 2012 where we were contacted by Ben and Carmen from Queensland for a spouse visa home loan to purchase their first home in Australia. Ben and Carmen had already been to their own bank and a couple of mortgage brokers and were advised that due to;
Having all but given up, in one last desperate attempt they contacted MAP and 8 days later we had their spouse visa home loan formally approved at standard interest rates (better than the bank that had declined them!).
“we are very thankful for all your help and support. We will recommend your services to everyone we know. Many thanks again for everything, you are the best!!”
Ben and Carmens loan application was not easy and required many supporting notes and documents to pursuade the bank that despite these three issues, Ben and Carmen were actually a good credit risk.
The Issues:
This example shows that even with three pretty significant issues, we can still get common sense approvals.
In this case, the default was 5 years ago, paid in full and arose when Ben was traveling the world. Carmen only had 3 months in her current job and was still on probation. However she had heaps previous industry experience in exactly the same position. To offset these issues Ben and Carmen had a good savings record, good incomes and strong overall employment history.
Conclusion:
Thanks Carmen and Ben for letting us use your information for this quarters case study. Ben and Carmen settled on the 26th of October and are happily settling into their new home.
Here is a picture of the happy couple on settlement day:
ShannonJustin was brilliant to have as an broker. He worked with my schedule and got everything organised with good counsel and assisted with resolving any issues, and where he wasn’t able to personally, pointed me in exactly the right direction to work the issue, myself. Absolutely will be utilising his services again in the future.
Ilse & Dave HawkinsJustin guided us from start to finish with our refinancing process, and was able to get the lowest possible interest rate. He kept us informed and made it a simple and quick. Justin was a pleasure to deal with! Thank you Justin!
Dan & Lisa DuncanWe have worked with Justin to refinance our house and an investment property.
We had some complexities that Justin guided us through. He achieved a better rate and structure for us than we had dealing directly with the CBA.I have worked with other brokers over the years, but none as responsive, knowledgeable, and easy to work with. Thanks mate!
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