Banks Said No?

Soldier on and talk to a broker

Despite owning a growing business and supplementing his income with a pension from the Australian Defence Forces, former soldier Jake Briggs was told by his bank that he could not secure finance to purchase a home. Somehow, he was able to get our contact from a friend of his, who was actually, my customer.

With his service in the army behind him, Jake Briggs was looking forward to pursuing property investment but had trouble securing a loan due to his pensioner status.

“The bank had told him that he wouldn’t qualify for a loan, so he came to see us, and we had a look at his circumstances.”

Jake had been discharged from the army at the age of 25 due to a medical condition that left him unfit to serve.

“He was on a lifetime pension and the people at the branch told him, ‘No, no, you’re a pensioner, you won’t qualify for a loan,” Jake says, He was actually running his own business as a personal trainer. So, he had a lifetime pension plus he had his own business.

With the expert guidance and help from my team, Jake managed to secure a home loan and go on to buy an investment property interstate.

We put the inquiry through a normal broker-lending channel, and it was fine. He is and always was an ideal candidate, and they, (I mean the bank branch staff) just didn’t realise. It comes down to the fact that today, most of the branch staff haven’t been trained in home lending so they don’t always have all the right answers.

If you know someone to whom the bank has said no, there might still be an option available for them. Help them reach out to my team and our expertise can help them find a lender and loan suited to their needs.