ANZ declined 75% LVR refinancing - Any other lenders?

Hello,

I was looking to refinance my PPOR in Austral, Sydney and pull out some equity for a land settlement.
The current balance on our PPOR loan is 530k (with NAB) and it was valued at 740k by ANZ about 3 months ago.

The refinance application with ANZ was launched on 5th Aug 2020 and we were told by our broker yesterday that the application has been declined without stating any reason, damn we waited for nearly 2 months. I don't have any defaults on any of my other investment loans. The broker says bank is refusing to give the reason, it's based on their internal score.

The Mortgage broker is looking to talk further with ANZ to understand what happened and is asking us to wait. Our land might be registered in October, hence we are a bit worried.

Any other lenders recommended for quick processing (2 weeks is ok)? I hope 75% LVR should be good enough.

We are joint applicants (I am self employed and my wife works full time)

Thank you in advance.

 

ANZ has a long memory, internal score decline generally caused by previous account conduct, overdrawn accounts, credit card/personal loan late payments etc etc even if those old accounts are closed ANZ still has a record of them.

 

Refer to a copy of your credit files would be a good start

 

I don't have any existing lending at ANZ

 

When you say 75% LVR - is that on the new application? What's purchase price and loan amount?

There are lot of different lenders that can do a quick 2 week turnaround. 75% LVR seems reasonable but you need more information on the decline. The broker should know why it's declined, even if it is credit history. Otherwise could be valuation? You can message me direct with your income, liabilities, and new loan amount. I can run some quick numbers to see if it's adding up correctly