Adviser Success Story: Krystiana Wetton

Purchasing your first home with little savings can be near impossible in the current market, especially when you’ve struggled with poor account conduct in the past.

With help from Select, Krystiana was able to help her clients gain approval on their loan, enabling them to purchase the home they’ve rented for years.

What was the customer’s situation and how did Select help?

The customers wanted to purchase the home they had been renting for a number of years. It was the customers’ first home and they had little in the way of savings and were wanting to renovate as well as consolidate other debt. 

The main banks were reluctant to consider an application due to their credit card being in overdraft. Select approved the application, giving the couple an opportunity to transition to a better rate once their account conduct improved.

What made this deal unique or challenging?

The clients were nearing their 60’s, which would normally mean a shortened loan term. Select allowed a 30 year term which meant repayments were affordable – in fact they were on par with what the customers had been paying in rent. Select were able to offer the 30 year term as the clients had a clear exit strategy in place to significantly reduce lending in a few years.

Tell us about your experience working with Select?

Select has always been great to deal with. Our BDM, Keryn is extremely helpful when workshopping any deal and wants the best outcome for our clients. Select offers a great range of products and an assessment process others can’t match.

What I like most is their common-sense approach. Select has helped a number of my clients purchase a property when no other lender would. This generally comes down to looking at applications on a case-by-case basis.

Anything else you’d like us to know about the deal or your experience with Select?

Select is my go-to alternative lender for clients who do not meet main bank criteria.