What to do when the banks turn you down
![man turned down by a bank](/adobe/dynamicmedia/deliver/dm-aid--ad6c9ff3-bf8b-4126-821c-7f8dabdc6011/loan-declined-by-a-bank.png?preferwebp=true&quality=85)
Estimated read time: 2 Minutes
Having a home loan application turned down happens to thousands of people every year. But if it happens to you, don’t be discouraged - just because you've been turned down by the banks doesn’t always mean you can’t achieve your property ambitions or refinance your home loan.
We’ve helped thousands of borrowers in unique situations with our flexible approach to lending. Since we assess you as an individual, we look beyond your credit score to find out why payments were missed, or a default happened. Often there’s a reasonable explanation and we’re here to listen.
Major banks’ existing home loan processes
Non-bank home loan processes
If you have defaults or judgements against your name, we can still consider your application and you may still be eligible for a Pepper Money Home Loan.
We’re more concerned with assessing why the defaults and judgements occurred, your current means of income, your ongoing ability to repay the loan without incurring financial hardship, where the property is located and the size of your deposit. We assess a range of factors so that we can understand your requirements and objectives for the finance.
Turned down for a home loan?
A non-bank could offer more flexible options.
Having a home loan application turned down happens to thousands of people every year. But if it happens to you, don’t be discouraged. We look at the options available.
Male: Hey Sarah, I've got a friend who's been turned down for a home loan and they're not quite sure what to do next.
Pepper Money: For a start, please tell them not to take no for an answer. Getting a home loan application declined by the banks happens to lots of people but the good news is there can be another way.
Non-banks could offer more flexible loan options that could turn a no into a yes depending on the situation so always worth checking. But before you go, here's some important legal stuff.
We’re here to help
Many borrowers feel overwhelmed once they’ve been declined and then wait years until they pluck up the courage to apply again. But you don't need to wait for a bank to lend to you.
At Pepper Money, we believe everyone has the right to achieve their financial goals and we make it our mission to offer other avenues that traditional lenders may not offer. So contact us today on 137 377 or enquire online about how we may be able to help when the major banks say ‘no’ to your loan application.
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