Where it nearly went wrong

We hear lots of horror stories of clients and where their loans may have gone wrong. Now, we brokers are mere humans but sometimes we can just pull some magic and that happens to be what happened with our clients loan recently.

Our clients had sold their home in Adelaide and moved to the Sunshine Coast and were ready to look for a new home once their jobs were sorted. But what they didn’t know is that in the hustle and bustle of their move, forgot to make one Buy Now Pay Later instalment. In the midst of moving, address change and phone number change, their account was overlooked, all for $119.

The creditor placed a default on the clients credit report, JUST as they were about to apply for a Home Loan.. and they had no idea.

Not until we went to do their loan of course. What ensued was lots of sadness, issues finding a lender that would fit, because you see…. the bill was paid but the creditor takes up to 60 days to make the file as paid and most lenders don’t want to loan more money when a loan is not marked as paid. For this reason, there was a 30 day finance clause but it was not long enough.

The clients were stressed and we tried to find lots of solutions, also playing with the fact that the clients were both in new employment with new jobs.

In the end, one of our amazing lenders could see the light after we told their story.

The loan was approved with a good lender at a good rate. However it was a stressful time for the clients.

We recommend keeping an eye on your credit reports regularly and updating your details with all your lenders as soon as you move.