Scenario: A long-term self-employed customer of major bank was looking to purchase an investment property but had recently missed a repayment, resulting in the bank declining the application under their credit policy despite an otherwise strong financial position and personal and business banking customer for twenty plus years.
We partnered with a non-bank lender that took a more flexible approach, considering the customer’s strong repayment history, business performance, and the circumstances surrounding the missed repayment rather than focusing on a single credit event.
Outcome: The customer secured finance for their investment property, allowing them to continue building their property portfolio. By matching them with a lender that assessed the overall strength of the application, we achieved an outcome that wasn’t possible through the major banks.