When you consider the potential pitfalls of applying for finance in any form, concerns usually lie somewhere within the realms of your financial status. Whether it’s bad credit or blunders made when you were young and naive; complicated circumstances, or difficulties outside of your control.
While it’s true that these issues can stall, or, in extreme cases, even put an end to finance applications, customers can often overlook the smaller aspects of their day-to-day lives that can have just as big an impact on their application.
The Little Things Matter
Our senior broker, Phil, was recently assigned a customer who was looking for a loan of £50,000 for their recruitment company. Throughout its lifetime, the company had gone from strength to strength, and the customer was now looking to make the most of their success by expanding into additional areas of their field.
As you can imagine, due to their strength as a successful, financially stable, company, the customer’s loan application was quickly approved without issue. This was great news for all involved, and Phil was excited about helping his customer reach their expansion goals.
However, when the case was passed on to the funder’s Know Your Customer team, the deal hit a snag.
Recently, the client had moved house. While you wouldn’t expect this to have any bearing on their finance application, it had complicated the process of proving the customer’s address. This, in turn, made it difficult to prove the customer’s ID.
These minor complications had suddenly halted the deal and meant that Phil had to work a lot harder to get what should have been a pretty simple deal over the line.
Phil To The Rescue
Of course, being the pro that he is, Phil went above and beyond, and eventually got his client their money. However, this case serves as a warning that being financially stable does not necessarily guarantee that you will get the facility you are looking for.
Luckily, our brokers have a vast and varied wealth of experience with all sorts of customers and situations. They specialise in sinking their teeth into the more complicated deals that other brokers would not attempt.
Let’s Talk
If you are looking for finance, but are concerned that your circumstances are too difficult, please don’t hesitate to call us. We will talk you through every step of the process, and will go above and beyond to get you what you’re looking for.
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