I submitted a home loan application for this particular client last week. She is currently on maternity leave however this did not affect the strength of their loan application.
Today she came to office and was feeling a bit nervous about the loan. I could see she was anxious so I took the time to sit with her and talk her through what she nervous about. She said she was talking to her grandparents and told them she was borrowing half a million dollars. They went on to say ‘we never borrowed that much money” and made her feel like it a huge debt. I pointed out that her grandparents were not earning the same money.
I also pointed out that they are more than comfortable to make the repayments for this loan based on their income. She was overwhelmed by the overall figure. I talked to her further pointing out that she had already shown her ability to pay a mortgage by all the extra repayments on her existing mortgage on the house she is selling. I told her to take a breather – go for a walk on the beach with the kids, get an ice cream and relax. She came back an hour later and was comfortable.
We like our clients to understand their debt and full understand the responsibility. We always ensure our clients are in a position where they are not getting a loan they cannot afford.
If you want a broker who looks out for your best interests – give us a call