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Home Loan Declined Before Settlement? Now What?

Firstly, don’t give up if you don’t get your home loan approval straight away. Your dream of owning a home may not be as far away as you think. Let Bear Loans tell you a story about a such a dreamer…

Polly* (not her real name) found her perfect home. She made an offer that was accepted. All she had to do now was get her loan approval and she would be on her way to settlement and sliding that key into the front door.

Polly* took the most traditional route in gaining a home loan by placing her application for finance with her lender directly. It took 3 weeks to process and in the end was declined. This placed Polly* in a very difficult situation. She was in danger of losing the property, as her finance clause on her contract had expired. Not wanting to give up and needing help quickly, Polly* contacted Bear Loans for help. After looking over Polly’s* finances we decided that rather than requesting an extension on her existing finance, we could lodge a fresh application, with a new company that we were confident could approve her loan - and quickly.

As your financial expert, we can take a deeper look at loan company’s terms and conditions. We can match you to the right loan, with the right people and all the right information. This insight meant that Polly* signed the application the night before it was approved. No three week wait – it took only 3 hours the following morning to get across the line!

Polly* was over the moon with the result. She was astounded and disappointed that it had taken so long with her other institution. All she had needed to do was get the right advice and the loan could have been approved weeks ago. Without giving up, Penny had managed to turn her fortunes around rescued her dream home.

The moral of the story is – an expert with great advice, good working relationships and a deeper understanding of your position and needs, can fast-track your loan… and could possibly save your day – in one day!

Here at Bear Loans we care deeply about helping people achieve their financial dreams. We’re passionate about turning your goals into a reality. We wish Polly’s* situation was unique but it’s one we see too often. If you’re struggling with this situation or something similar. Contact us soon.


*This information is not to be relied upon without speaking to your finance broker, tax agent or financial adviser.

*Name has been changed.

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