Poor Credit Rating
- Client did not meet lending criteria
- Acquired's Loan consultant, designs savings plan
- Long-term rapport is built
- Client successfully acquires loan
Acquired Consultants share a commitment to meet with each enquiry, however difficult it may seem to meet lending criteria initially. Often clients will have made direct contact with other lending institutions but have not had their needs satisfied. The Acquired commitment is to work with each prospective client on an ongoing basis to ensure they understand what they must do in order to meet the lending criteria.
Acquired's approach involves working closely with clients so they can understand what is required in a way that is relevant to them. Often they have confusion regarding loan jargon so one of Acquired's Consultants is able to become their confidante. The way Acquired's Consultants approach their work strongly reflects Acquired's commitment to establishing long-term relationships.
The Story :
In March 2003, an inquiry came through to the office from 2 couples, who had migrated to Australia only a few years ago, becoming Australian citizens. They had no savings, but wanted to build two houses.
It took one of Acquired's Consultants several phone calls with the couples just to set an appointment - communication was difficult due to cultural differences. But they persisted. Eventually, the Consultant was able to meet them at their shared, small, 1-bedroom flat - on the weekend, as they were all shift-workers.
Acquired's Consultant developed a realistic savings plan with them, and monitored them on a monthly basis to ensure they stayed on track. The Consultants continual contact with them also allowed them to identify anything that was impacting on the couples' ability to meet the savings targets.
Five months after the initial contact, Acquired's Consultant submitted loan applications. Based on their savings record and the fact they now met lending criteria, approval was realised. As a result of the Consultants support and that of Accquired, the couples were then able to purchase land and enter into a building contract.
Acquired's Consultant Reflections :
"Persistence, cultural awareness, customer service, and being prepared to build long-term relationships - going beyond what would normally be expected from the industry - are all qualities that ACQUIRED help to foster. They were central to my success in this case."
"The power of the simulator to create detailed and specific information for the client and outline a step-by-step approach made the clients' understanding and my task straightforward. To come away with a savings plan document on the day is a powerful tool that has been developed with the ACQUIRED Loan Simulator."
"My background in the financial and building game greatly assisted me in being able to help these clients make informed decisions. That is why ACQUIRED seek experienced staff and offer so much training and ongoing support." |
