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Broker success story: Near Prime Scenario

accountants letter

The Brisbane couple struggled to purchase a home as they didn’t have sufficient documentation to verify their income and therefore, were unable to get approval from the bank.

With only an accountant’s letter as income verification, Bluestone were able to pre-approve the loan just in time for auction.

What made this deal unique or challenging?

The customer didn’t have 2 years’ tax returns available as he had only been ABN registered for a short time and therefore we were unable to use BAS verification. This also meant that no other lenders were able to accept the loan application.

How did we help the customer?

By using the accountant’s letter as a method of verification, the loan cap was removed so that the customer could borrow the full funds to purchase the property. The customer received a Near Prime product, with no risk fee.

Pre-approval assessment was extremely fast so the customer could attend the auction with confidence. 

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