I have received many enquiries from new clients with the conversation starting with "their Home Loan application had been declined without receiving a clear reason or understanding why".

Quite often, when investigated further, it was evident that the lender didn't seem to have a full understanding of the clients circumstances. It was only when a lender was provided with more information I was able to successfully obtain approval for their Home Loan.

It is very important when applying for finance that you disclose all relevant information and that your broker/loans officer add notes to your application and, if possible, communicate with the Credit Assessor to provide a complete picture of your financial position.

Competition between the lenders means it's a good time to compare interest rates, your broker should be in touch regularly with updates or just give them a call and get them to do the leg work for you to see if there is an opportunity to save some money and may be look at a restructure of other loans at the same time