Knocked out of the property market because you were told NO?

Many people out there are either looking for a first home or investment property but are unsure how to obtain the funds to meet their financial goals.

Finance Prospects has been approached by too many clients that have been told NO by their existing finance provider. All because their situation was outside the box and required a bit more research than normal and wasn’t a “tick and flick” application. These are the small challenges I like to face making my job more appealing!

The satisfaction of being able to help clients that had seeds of doubt planted in their head by other “professionals” is exhilarating and drives me harder to help the client.

An almost “ I told you so” to the big guys puts a smile on my face!

It is worth getting a second opinion about your current circumstance, the outcome may be different when you present your situation to a different pair of eyes with different experiences and expertise. Fully understanding the situation and researching all possible lenders is imperative.

With over a panel of 40 lenders, Finance Prospects has a large product selection and utilise that selection to save the client heartache or help put them in good stead for procuring an investment property in the future.

You see, helping a client isn’t all about rate! It’s also about selecting flexible products which don’t prevent movement during the term of their loan.

Scenario 1

A client, let’s call her Gertrude, approached me after she was told she couldn’t afford to purchase a property due to her recent separation.

Gertrude owns a home that has a mortgage with her ex-spouse, If you have a material home with a mortgage and the spouse intends on keeping the property it may affect the application. There are several lenders in the market that may consider just half of the liability, increasing your borrowing capacity.

This information was overlooked by her previous finance service provider adding further heartache to the client thinking she has been knocked out of the housing market due to an unfortunate event.

As a finance broker professional, it’s our job to research possible solutions for different scenarios. I guess you can call us problem solvers!

Gertrude has now purchased her first home since d day thanks to a little bit of empathic thinking.

Scenario 2

Terry called Finance Prospects after a broker walked out of their home without even assessing the couple’s financial situation. The broker had seen terry had 5 children while being paid a salary plus commission and said terry couldn’t afford a mortgage.

Although terry and his wife were unable to buy their dream home, by conducting a free health check of their financial position Finance Prospects could help them purchase a suitable home getting them out of the rental cycle. The solution Finance Prospects provided also put them into the housing market and  in good stead for further property purchases.

Scenario 3

Simon was working for 3 years and had purchased land. Simon was then offered the same position but within a different company but better salary. The finance provider Simon approached had told Simon that they were unable to service the debt for the construction due to change of employment. Simon then considered selling the land as an option to recoup some money lost due to the purchase of land transaction. After assessing Simon’s financial position Finance Prospects could find several lenders that considered this scenario resulting in Simon being able to source a lender to finance the construction of his new home

Whatever your situation it is advisable to get a second opinion if you are not content with your first one. The advice given may not be entirely incorrect but different finance providers could have access to many more lenders and a different outlook on the application. 

Need help? Contact us now at Finance Prospects  on 0415 773 178, email me at jessica@financeprospects.com.au  or click HERE  for a free home loan health check. You never know, i could make your day!