Case Study – Single Mum Frankston South

Home Loan Assistance in Frankston South

Location

Frankston South

Type

Loan Assistance

Task

Assisting a hard working single mother in securing a loan for a home that ticked all the boxes.

Overview

Going through a separation can be a challenging time for all parties involved.  After a series of knockbacks, this single mother approached Will Bell Mortgage Broker for assistance in securing a loan to purchase her new home.  There were several requirements for the home including that it was in the right location for her children’s school and also was available on the dates she required.

Difficulties Faced

The single mother approached the lender to apply for a home loan to purchase a house to start the next chapter of her life.  Although she had worked hard and had a substantial deposit saved, because she was a single mother with only one income source, the banks knocked her back on her loan applications.   She also wasn’t eligible for any concessions, which made her application look unappealing on paper.

Solution

Feeling frustrated and dejected the single mum went to Will Bell Mortgage Broker to see what he could do to assist in her application process and hopefully help her secure a loan.  Once Will Bell had reviewed all aspects of her application they identified that the single mother was receiving more funds than they anticipated from the separation the single mother.  This was excellent news as it meant that the mother had now increased her eligibility for the loan she required to purchase a new home.

Products Used

Need help assessing your loan applications?  Reach out to Will Bell Mortgage Broker today to get your finances in order and approach your loan application with confidence.

Result

With the help of Will Bell Mortgage Broker, the single mother was able to successfully secure the purchase of an off the plan townhouse located in Frankston South.  The townhouse was exactly what she wanted and ticked all her boxes, including availability dates and proximity to the local schools that her children attended.

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