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Why was my application declined for a loan?

Each lender has their own lending criteria on which they base their credit decisions. When we assess a home loan application, we look at a number of things to decide if we can approve it.

There are a few reasons why your application may not have been approved, including:

  • Your loan repayment capacity, taking into account your income, expenses, existing financial commitments, and the ratio of debt to your income
  • The nature and stability of your employment
  • Your credit history
  • The value of your property compared to the size of your loan
  • The property linked to your application may not meet our specific credit criteria

We’re not allowed to disclose the exact reason for declining an application, however, if you’re not eligible right now, you can always check again later in the future.

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Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround™
^We’re known for fast approvals and responsive service, powered by tech and supported by our team of experts. Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

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Other legal information
At Tiimely Home we are not financial advisers and recommend seeking independent financial and legal advice to check how the information we provide aligns with your individual circumstances.