Delays and Long Waits for Credit Decisions

What difficult times we live in…a few short years ago almost all Banks and Finance Companies offered a ‘Tick & Flick’ asset loan product that provided nearly immediate approvals provided certain boxes where ticked.

Now the Banks and Finance Companies want full credit submissions, supporting documents, two+ years of financial reporting, breakdowns of balance sheets, ATO Tax portals, cost of living statements, details of your Foxtel and Netflix monthly subscriptions and then when you provide all the above – your can expect to wait the best part of 2 weeks for a decision.

Count your lucky stars that you are looking for finance for a Truck or Excavator – buy a house and it could take 7-8 weeks to get a response for that home. Please be advised, do not offer to buy a property on a 30-day settlement – you will be in for a lot of pain and delays if you do. We are still achieving excellent results for our clients but taking a little longer than before get the job done. It is frustrating for us and no doubt frustrating for you however we are getting the deals settled – so please be patient, work with us and it will get done.

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