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Has your bank told you “NO, you can’t borrow that money? Don’t stress! Just because your bank said no, doesn’t mean there are no other options.
Every bank has different policies in place and every bank uses a different method to calculate how much you can borrow. Don’t lose too much sleep over it as there are always other options available to you. The reality is, each back has a different risk profile at times and they may not fit your requirements right now.
We can find alternative lending solutions for the following scenarios and more.
Mainstream lenders (the big 4) love loan applicants who have been employed for a number of years in the same full-time, permanent job, with more than 20% deposit and perfect credit history. But not everybody fits this mould. Actually, most of us have much more complicated lives and financial situations than that. Fortunately, we have a range of lenders on our panel that consider individual circumstances, even if you don’t tick all the boxes of an ‘ideal’ borrower.
Perhaps you have a bad credit history or a self-employment or casual/contractor employment status. Or maybe you don’t have a genuine savings history but have received a financial gift from family or a redundancy payout. Plenty of deposit, but no history to show you can make future repayments.
If you feel like you fall into this category, then talk to Punters Finance as soon as you can. We have seen a scenario like yours many times over and feel very confident that we can create a positive pathway forward. Just remember, making too many enquiries directly to one or multiple banks/lenders can negatively impact your credit score, so give us a call to get the right information as soon as you can.
Don’t forget, as your ‘broker for life’ – it is always our goal to assist you to refinance through to a mainstream loan product with potentially lower interest rates when your circumstances change to fit these criteria. Through Punters Finance and our partner brokerage TSC Mortgage Brokers, we can offer a transition plan when it is possible, from specialist rates to prime rates (equals savings!).
TSC Mortgage Brokers is a partner company, specialising in mainstream lending. We are located in the same building and mostly utilise the experience and knowledge from the same Broker team, however, we just have a slightly different focus.
Generally, we find that people who apply for specialist loans are:
Want to know if you’re eligible for a low doc loan? Contact our friendly team of experts today.
Sometimes life can throw some curve balls which can result in missed payments, defaults and in some circumstances bankruptcy which can mark our credit history. We have some lenders who are open to these scenarios, do not use credit scoring and will evaluate on individual circumstances. We will help you navigate through the process to obtain finance.
It is quite common for people to change jobs in order to grow or change their lifestyle, but some lenders are not open to new employment positions even with a signed contract. We work with lenders who are open to these scenarios and will guide you through the process to be able to borrow as soon as possible.
Many of our clients are based overseas but own properties in Australia that need refinancing or who are looking to purchase new property. We are very well versed in the processes/restrictions of these scenarios and can guide you through each step of the process.
Being able to consolidate multiple debts and pay out any tax debt owing can be a huge relief and free up much needed cashflow for everyday living and even future purchases. This can reduce your payments by hundreds to thousands of dollars per month!
Have you found your new home but have not sold your old one yet? Whether you are upgrading or downgrading your home, a bridging loan can provide you with a solution that allows you to avoid the stress of having to sell your home first and finding temporary accommodation while searching for your next home.
For self-employed people who don’t have sufficient tax returns financial statements available (generally 2 years), or are new businesses, there are lenders on our panel that offer Low Doc loans that provide alternative ways that you can demonstrate income. This can include Business Activity Statements; bank statements; an accountant’s declaration or even a self-declaration. We will assess your financial position and advise of ways to structure your application to obtain finance.
If you are an investor looking to build your investment portfolio, the development and subdivision of properties are another way to grow your wealth. However, as any developer or investor will know, when it comes to development and subdivision loans, securing loans from major banks can be difficult and therefore it is important to have a knowledgeable finance broker on your team. The beauty of the team at Punters Finance is that we have access to over 60 lenders, including non-bank lenders and private funders who specialise in development and subdivision loans.
Some lenders consider people working in the medical industry to be lower risk due to consistent and high-level income and offer to lend up to 95% without charging any mortgage insurance! This can save a big chunk of money when purchasing a property. You may also have access to exclusive packages and rates.
An SMSF (Self-Managed Super Fund) loan is a loan used to purchase a property as an investment to further grow a super fund for retirement. It can be used to purchase residential investment properties; commercial properties; office spaces; warehouses and more.
Some lenders can be quite restrictive when applicants are over a certain age, even if the applicant is in a good position for retirement. We work with a few select lenders who will assess the scenario based on individual merits and with a bit of common sense. We have helped clients purchase properties in their 60’s and 70’s, without issue.
Cash flow is vital for business survival. Small businesses, in particular, can be the hardest hit from external factors such as seasonal fluctuations, staffing costs, business downturn or equipment maintenance.
Cash flow funding is a fast and cost-effective form of short-term lending that can be used to keep the day-to-day operation of your business running smoothly or to kick-start your business growth strategies.
From cars and commercial trucks to caravans and boats, if you're seeking competitive finance, you've come to the right place!
We compare over 50 lenders to secure you a great deal, and we're committed to simplifying the process of acquiring your new vehicle or equipment as much as possible..
At Punters Finance, we specialise in:
We LOVE finding a YES for the average punter when the banks said NO.
The Punters Finance team’s experience, knowledge, perseverance, and strong relationships with lenders is the reason that we can achieve outcomes for you when you’ve been dismissed by other brokers or banks.
Our mortgage brokers; loan processors and administrative staff place value on achieving exceptional outcomes for you. Take a moment to read the consistent reviews and testimonials that have been published on Google and Facebook, demonstrating our competence, courtesy, credibility, reliability, and responsiveness.
When you are ready, the team at Punters can help you find the right specialist loan for your needs. If you’re new to specialist lending, we aim to simplify the process and answer any questions that may pop up along the way. We have a great team with a wealth of experience in specialist loans and access to over 60 lenders, allowing us to help you secure the most suitable specialist loan for you.
Learn more about how we can help you with specialist Loans.
Contact our team on 1300 55 61 10 and info@puntersfinance.com.au or fill out our contact form and our team will be in touch.
TSC Mortgage Brokers, ABN 84 602 422 668.
Credit Representative Number 474370
Credit License Number 384704
Punters Finance Solutions Pty Ltd ABN 31 632 559 776
1300 55 61 10
info@puntersfinance.com.au
puntersfinance.com.au
Level 2 Kawana House,
01 Innovation Parkway,
Birtinya QLD 4575
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