A Dream Home Rollercoaster Ride Ends In Success

Sue and Steve were looking to buy their dream home. With only $80,000 left to pay on their mortgage for a home valued at $400,000, they had the equity they needed to search for a new home — or so they thought. A perfect property popped up for $750,000 and while it may have been just slightly over their budget, Sue and Steve were willing to do whatever it would take to secure their dream home. They both approached their lender, a company the couple had banked with for over 20 years and had held their current home loan with for 15 years, never defaulting once.

But their application for the new purchase was declined because of a $2000 default on a credit card Sue previously held. After this unsuccessful attempt they thought the lender may offer another option to assist them, but the bank went silent. After weeks spent waiting for an update, Steve was forced to call back and look for another way to get his family their dream home. He offered to put the loan in his name, but he too was knocked back because of a $1500 default on land rates. Sue and Steve were left feeling shocked and frustrated that after doing business with this lender for more than 20 years, they were turned away without care or consultation.

After the lender declined their applications, Sue and Steve’s real estate agent recommended someone he knew at another Major lender. He said he could guarantee their loan would be approved and minor defaults wouldn’t affect their application. But they were knocked back again.

The couple approached a third large lender on the recommendation of another real estate agent and again, the bank declined based on the couple’s minor defaults. This time, the bank didn’t even bother to contact them!

Every time the couple submitted an application they were upfront and honest about why they had been previously declined. Each time the bank made them feel safe by assuring them they would qualify for their company’s loan. But after they had been declined the banks didn’t want to know them any more, no alternative options were given and Sue and Steve were left questioning whether they would ever make it into a new home.

Before all hope had vanished, a caring real estate agent put Steve and Sue onto Peter from Lending Mate. Sue described him as a “godsend”. Peter’s empathy and understanding was a welcome change from the lack of care shown by the previous banks. Peter found the perfect loan for the couple’s circumstances and working with their legal Representative helped Sue and Steve understand the legal parameters of the loan. He stayed in constant contact throughout the entire process, offering support, guidance and updates on the progress of their application. Peter had the family in their dream home just in time for Christmas.

“Without Peter’s help and commitment I don’t think we would have been able to buy this house.” – Sue Hartman

Disclaimer Statement: Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.

Lending Mate™ trading as Free From Financial Worries Pty Ltd (ABN 88 134 812 165), Credit Representative number 442518 is an authorised representative of Connective Credit Services Pty Ltd (ABN: 51 143 651 496), Credit License number 389328.