Don’t take no for an answer · ACL 418711

Knocked Back by Your Bank? The Right Lender Will Say Yes.

The major banks rejected over 1 in 3 home loan applications last year — and most of those declines were policy mismatches, not actual ability-to-repay problems. We work with specialist and near-prime lenders who underwrite the human story behind your file.

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15+ Years Experience

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Why you were rejected

The decline was probably automated — and probably fixable

Major bank credit decisions in 2026 are made by algorithm. Your file gets fed through a scoring engine that looks at 20-30 data points — credit score, current debts, deposit, income source, employment type, and (critically) the rigid policy filter the bank calls credit appetite. If any of those points fall outside the lender’s appetite, the system declines you in under 60 seconds. A human credit officer often never sees the file. The decline letter you received is generic: “did not meet our lending criteria.” Common triggers we see weekly: an ABN under 2 years (even with strong income), one paid default from 2-4 years ago for under $1,000, a discharged bankruptcy that’s now 13 months old, casual or contract income, recent job change, salary partly paid in commission, gig-economy income, or simply too many credit enquiries in the last six months. None of these are deal-breakers at the right lender.

How specialist lending works

A different set of rules — written for borrowers like you

We work with around a dozen specialist and near-prime lenders that operate under different credit policies to the majors. Where the major bank uses an automated yes/no, these lenders run individual underwriting — a real human reads your file, your story, and the supporting documents. Past credit events get assessed for what caused them, whether they’re paid, and what’s changed in your situation since. ABN length is flexible. Cash income that’s been declared through your accountant counts. Low deposits with LMI are still on the table. The trade-off is a slightly higher rate (typically 0.3% to 1.5% above mainstream) — but most clients who land here refinance to a mainstream rate within 18-24 months once their file is “clean” again on paper.

Self-employed pathway

Just an accountant’s letter — no two years of returns required

If your decline came on the self-employed side, we have a specific solution. Instead of two years of personal and business tax returns plus four quarters of BAS — which a lot of self-employed applicants either don’t have yet, or whose returns understate their actual income — we use a one-page letter from your registered tax agent or CPA stating your declared income. We pair it with six months of personal bank statements and photo ID. That’s typically the entire income evidence. The lender’s underwriter accepts this as primary documentation, no BAS, no business tax returns required. We’ve placed thousands of self-employed borrowers this way after a major bank decline.

Asset finance

Need a vehicle or equipment? No financials required.

If your rejection was on asset finance — a vehicle, ute, trailer, machine, or equipment — the path is even simpler. We work with non-bank lenders who fund up to $150,000 (or up to $250,000 for homeowners) on what’s called a matrix or low-doc application: your driver licence, your ABN, and a one-page form. No bank statements. No tax returns. No financials. No interrogation. Conditional approval typically inside 24 hours. Settlement within a week. The asset itself is the security; your home and family finances stay completely insulated from the business risk.

Our process

Three steps from rejection to approval

Step 1: Send us a screenshot or copy of your decline letter (or just tell us what happened in five sentences). Step 2: We pull your credit file with your consent and run a brief assessment — usually within 30 minutes we know which two or three lenders are most likely to say yes for your specific situation. We do this WITHOUT lodging a formal application, so it doesn’t add another credit enquiry to your file. Step 3: We submit the application to the best-fit lender, package the supporting documents, and respond to underwriter questions on your behalf. Most clients get a conditional approval within 5-10 business days. From there it’s the standard valuation, formal approval, and settlement process.

Frequently asked

After-rejection lending questions

Why did my bank really reject me?+

The decline letter says "did not meet our lending criteria" but rarely explains the actual reason. Common triggers in 2026: ABN under 2 years, paid default from 2-4 years ago, discharged bankruptcy under 24 months, casual or contract income, recent job change (under 6 months), commission-based income, low deposit, more than 4 credit enquiries in the last 6 months, or simply your bank's policy not lending in your suburb. We can usually identify the real reason in 10-15 minutes from the decline letter and your credit file.

How long after a default can I get a home loan?+

It depends on size and recency. Some specialist lenders accept a paid default the day after it's settled. Most prefer 6+ months of clean conduct since the default was paid. Larger or unpaid defaults need a longer story (12-24 months). Bankruptcy needs to be discharged at least 1 day for some specialist lenders, 2-3 years for others. We match you to the right lender for your specific timeline.

What's the rate difference for specialist lending?+

Near-prime borrowers (one minor credit event, otherwise strong file) typically pay 0.3% to 0.8% above mainstream rates. Mid-specialist (multiple events or significant complexity) sits 1% to 1.5% above. Full specialist (recent bankruptcy, very recent defaults) is 1.5% to 2.5% above. Most clients refinance to a mainstream rate within 18-24 months once their file is clean.

Can I get a home loan AND asset finance even with a default?+

Often yes. Asset finance is secured against the asset itself, so a credit event on your file is a much smaller deal than for unsecured lending. Many of our specialist asset-finance lenders accept paid defaults under $1,000 with no rate impact. The home-loan side is more sensitive but still doable through a near-prime or specialist lender.

Will applying again hurt my credit score?+

Each formal application adds an enquiry that can dip your score 5-15 points temporarily. We pre-qualify you against our lender panel WITHOUT formally applying first — we read your credit file (a soft check that doesn't add an enquiry), then send the formal application only to the single best-matched lender. So you get one fresh enquiry, not several.

How long until I can refinance to a mainstream rate?+

For most near-prime clients, 12-18 months of on-time repayments on the specialist loan is enough. By that point your credit file has aged, the credit event is further in the past, and you have a track record of meeting your repayments. We proactively reach out to clients at the 12-month mark to assess refinance options.

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