Short YouTube monologue by Aaron Whybrow explaining why a mortgage application may be deferred or declined. He describes common transactional triggers (accounts dipping below zero, reverse payments, overdue or over‑limit fees, messy/multiple accounts or document issues) and advises clearing those matters before reapplying.
Why not now for a home loan? You've come to me to look at a home loan for you and I've come back asking some questions in regards to a few different aspects. Whether it's conduct overdue late fees, reverse payments, things like that, multitudes of them, lots of different bank accounts, something not too right with a different document of things. And I say, well, maybe we need to clear out a couple of things first. So there are at times when we have to say not yet for a home loan and we need to understand how that's going to impact and how quickly we can turn it around for you when it is ready. So sometimes we have to say it's not now. And the most common one these days is because we are asking for a lot of transaction statements. It's usually either something's dipped below zero on the transaction account plus a reverse payment, plus another reverse payment, an overdue over limit fee over something else has happened that has turned your situation into what you thought was good, into not being so good today. So sometimes we have to say not yet. And most of the time we can jump in and get it done. Hey, it's Aaron from Diagnostic Finance. Just a little tip.