{"id":34930,"date":"2021-10-04T11:55:26","date_gmt":"2021-10-03T22:55:26","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34930"},"modified":"2021-10-04T11:55:26","modified_gmt":"2021-10-03T22:55:26","slug":"how-aussie-dealt-with-shock-loan-denial","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-aussie-dealt-with-shock-loan-denial\/","title":{"rendered":"How Aussie dealt with \u2018shock\u2019 loan denial"},"content":{"rendered":"

PHOTO: Hayden thought being a long term customer at his bank and having previously paid off a personal loan would have made him a great candidate for a home loan. Picture: Supplied<\/strong><\/p>\n

The chef, who had kept his job throughout the pandemic, was \u201cshocked\u201d when his bank knocked him back. Here\u2019s what he did next.<\/p>\n

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When Hayden Lee had made an offer on a property and then was declined by the bank for a loan he was \u201ccrushed\u201d.<\/p>\n<\/div>\n

The 30-year-old believed he would have no problem after preliminary discussions with the bank.<\/p>\n

He had found a two-bedroom apartment in Wollongong selling for $540,000 that he fell in love with and had managed to save the deposit a month earlier than the deadline given to him by the bank.<\/p>\n

But his $30,000 in savings, which would cover 5 per cent of the deposit, wasn\u2019t enough. In fact, he discovered he needed a 10 per cent deposit due to the bank\u2019s home loan regulations.<\/p>\n

\u201cI was a long term customer with them and they knew I had paid off a previous (personal) loan,\u201d he told news.com.au.<\/p>\n

\u201cThey also knew how much I was getting paid, especially as I was working through the whole Covid pandemic. In my eyes I wasn\u2019t a high-risk investment, so I was a bit taken aback and shocked by it all. I was pretty upset as after all that I was going to look at the place again.\u201d<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

https:\/\/www.instagram.com\/p\/CUYzej1FWLe\/?utm_source=ig_web_copy_link<\/p>\n

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