1005 Alcyon Dr Bellmawr NJ 08031
+1 484-446-2566
support@bmcpros.com
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Buyers are quietly blocked from getting home loans – not because of bad reputation, but out of habits like habits, brunch spending and too many online orders.
Thousands of Australians are quietly turning down the housing market, not because of bad reputation, but because of advance payments, brunch and a too many online shopping frenzy.
Financial, real estate experts and buyers have alerted in a world of hidden “silent black people” that hopeful home buyers are knocked down by banks that have no explanation despite strong revenues and even formal pre-approval.
And you may already be on the list.
Related: Bidding ban approaches, tenants are for sale
AFL icon family bid farewell to home 115 years later
Bidders fascinated by this pink detail
Ray White Akg principal Avi Khan said he was shocking to see financial knocks on problems that buyers had never seen before.
“This particularly affects people who use cash-paid services like Afterpay and Zip,” Mr Khan said.
“Any wrong payment (even if one misses $40) is enough to raise red flags with the bank.
“Most borrowers don’t know that they are monitored at that level.”
Buy later payment services now, such as Afterpay, Klarna and Zip Pay quietly kill loan applications, even for buyers with high incomes and clean credit scores. Image: NCA Newswire / Dylan Coker
While many buyers consider their credit score crucial, Khan said banks are delving into it and making harsh judgments.
“People think if they go through an online mortgage calculator, then they’ll do it,” he said.
“But banks use rigorous stress tests, and these calculators don’t consider them.
“So they enter the market with false confidence and when the finances fall, they suffer destruction.”
Ray White Akg principal Avi Khan said banks are increasingly rejecting buyers based on the “silence” internal flag, often without giving any clear reason.
Cate Bakos, a Melbourne buyer advocate and buyer psychology expert, said she heard buyers were punished for spending, which felt small but looked confusing on paper.
“These services could have a significant impact,” Ms. Bacos said.
“It’s not just a cash payment platform to buy. If a lender sees cash being withdrawn in a casino, it’s not a good look.
“Even if your subscription and payment services appear in your statements, it will definitely affect how the bank thinks of you.”
Even at a booming auction, some buyers never bid and were knocked out by the bank red flag behind the scenes. Photo: David Clark
Ms. Bacos said that even if the borrower cannot see the lender, the lender is trained to detect risks.
“You have to think like an appraiser. What does your statement think about you? That’s what the bank is judging,” she said.
Cohen Handler Victoria managing director Nicole Jacobs said even buyers of stable savings could give up when banks reassess borrowing restrictions without warning.
“It’s absolutely devastating,” Ms. Jacobs said.
“If you keep looking at real estate in a certain price bracket and then suddenly be told that your spending habits or credit behaviors prevent you from buying within that range, it feels like a carpet pulled from under you.”
Nicole Jacobs, Managing Director of Cohen Handler Victoria, buyers warn that hidden spending patterns, such as cash withdrawals or lifestyle splurges, could quietly undermine the opportunity for loan approval.
Ms Jacobs warned that lifestyle spending, even brunch or waste, could quietly erode borrowing power.
“Understanding how much you save, it’s about what you can pay back,” she said.
“Even if done well, background spending can hurt you.
“The ability to buy a home is more valuable than other handbags or some nice extra features.”
While there is no official blacklist, that doesn’t mean you aren’t tagged, says Julian Finch, CEO and mortgage expert at Finch Financial.
“If you default, the loan drops or the behavior causes red flags, the information will not go away,” Mr Finch said.
“It’s located in the bank’s internal system and can prevent you from getting a loan, not just with them, but with other lenders.”
Julian Finch, CEO and mortgage expert at Finch Financial, said defaults, dishonest, and even certain professions can land on Australians on a secret internal “no-partition” list.
Mr Finch said defaults, humiliating payments, overdraft accounts and too many applications can quietly trigger silent negation in a short period of time, especially when banks evaluate repayment risks.
“Bank monitoring behavior,” he said.
“Even if your credit score is intact, account behavior can destroy your application from within the bank’s risk system.”
Finch Financial Finder said that certain occupations, especially those with occasional income or unstable income, may also attract attention, regardless of salary.
Mr Finch urges buyers to obtain pre-approval of appropriate credit assessments before shopping – and avoid spelling desperately applying for multiple lenders.
“Working with financial experts who understand how banks view it,” he said.
“We can match you with a lender that suits your situation and help avoid unnecessary hits on your credit documents.”
“I can’t say much, but of course there are more activities.”
Sign up for the Herald Sun weekly real estate update. Click here to deliver the latest Victorian real estate market news directly to your inbox.
More: Bomber Star Finishes $2M+ Transaction
Revealed: Bodybuilder’s Secret $7 million + Mel’s Hidden Place
Bidders fascinated by this pink detail
david.bonaddio@news.com.au