Meet James…

James is an experienced school teacher who needs to refinance after a divorce.

When James was finalising his divorce he did not pay any outstanding debts until the arrangement was finalised with his ex-wife. Unfortunately, because the bills in joint ownership weren’t paid he now had 9 defaults listed on his credit file. Of these 9 defaults, 4 were for less than $500, 6 were each over $3,000 and all were unpaid.

As part of the settlement James will retain the house in his name. He had maintained the repayments on the mortgage and now wants to refinance to pay out the defaults and finalise the settlement with his ex-wife.
When James went to the bank for finance it was declined due to the defaults listed on his credit file.

We were able to refinance James’ property and pay off all the defaults listed. With his strong employment history and repayments on his mortgage we were able to clearly demonstrate affordability and the benefit of refinancing.