When The Bank Says No

You: I’ve heard you guys can secure a loan for people who have been turned down by the bank.

David: Absolutely. No’s the easiest word in the world to say. And these days, it’s all too often a case of “Computer says no.” But there are a variety of common reasons for getting your loan application turned down.

You: Such as?

David: It’s not what you say, it’s the way you say it. When it comes to securing a loan, as with so many things in life, presentation is everything. We know how to present your details in the correct format to get the desired result.

You: Ticking all the boxes?

David: Yes indeed and dotting all the i’s and crossing all the t’s. God, or the devil, depending on your point of view is in the details. So when an application has too little or too much information, it’s turned down. Then, there’s the assessor. In a large corporation like a big bank, the person who is in the front line of judging the worth of your application is sometimes a spotty kid, fresh out of business studies, who doesn’t know an asset from an elbow.

You: And it’s so easy to say no.

David: If in doubt, kick it out. And then, there are some cases that make no sense whatsoever.

You: The bank moves in mysterious ways its wonders not to perform?

David: Exactly. We had a client recently who was referred to us by a Real Estate agent and she worked for the bank in question. Even though she was an insider and understood financial practices, she was turned down BY HER OWN BANK. We always welcome a challenge and so we took it on and got the result.

You: She must have been happy.

David: Nicky told us “Great result. Very happy to recommend Picket Fence.”

You: Another win/win.

David: It’s how we like to roll. If you know anyone who’s been turned down by the bank for any reason, all they need do is get in touch.


David Kearns is a Director at Picket Fence Finance. If you need help securing a loan, you can reach David on 03 9696 3007.