Working with these clients for a year and half. I went to get them a loan last year with their father as a guarantor – it did not go through. The bank said they would do it but when it went through credit they would not accept it. The reason was the son had helped the father out and gone on the loan when the mother passed away.
ecause of the extra debt the bank would not give it to them even though the father had the house for sale. They did go to two other people after I said it was not worth it. Then came back to me and said look Zain we should not gone anywhere else. We realise what you said was correct. The father has sold his house and we have put in another loan. I am working with their sister, brother and a cousin.
Client who I have been working with for a while. He got his tax returns completed on Friday and then called me to say that he has sold a property and wants to buy another property. He wants to refinance two loans. And he wants this all done by Wednesday next week. The accountant had sent me financials that did not match up with the tax returns. The tax returns had been done on accrual basis and the financials done on a cash basis. The bank will not accept this so I had to request the accountant. The loans have been submitted and we are waiting to hear back from the bank.
I worked with the client and the accountant to achieve the outcome required. The client is purchasing the block of land and it doing to subdivide and build an investment on the extra block.