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Broker Success Story: Poor Credit History & Refinance

credit

Gaining approval to refinance with cash-out can be difficult and will ultimately depend on the amount of equity you have and the lender. For the customers, their poor credit history meant their mainstream lender was unable to help, but Bluestone provided them with a solution.

Read about the broker’s experience with Bluestone below.

What was the customer’s situation and how did Bluestone help?

Andrew’s clients were a married couple, both working PAYG full-time jobs but with poor credit scores.
They were looking to refinance their $250k home loan for $120k cash-out funds to renovate. Both applicants had recently started new jobs, for the male applicant, this was his third job in four months and the female applicant had been on extended maternity leave.

Although their credit files showed several defaults, Bluestone was able to provide a solution to Andrew and his customers, refinancing their home loan to service the cash-out request.

What product did your customer receive?

Specialist Full Doc.

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