Why referrals are great (and it may not be the reason you think).

Every business loves it when a client recommends them to a friend or family member. At Sue Tierney Mortgages we’re no exception. Your referrals are very much appreciated.

And there’s an extra benefit when trusted clients send new business our way.

Because of the existing relationship we have, our advisers can often access loans with better terms for your family member or friend. We may even be able to get a loan approved that would otherwise be turned down.

Here’s why: 

We can help de-risk the application for the bank.

These days, there’s a strong push to make sure banks don’t take on risky loans. So they look very closely at new applications and try to figure out any risk factors. ‘Know your customer’ is their mantra.

This is why there’s such a long-winded and rigorous process with every application. The lender wants to know everything possible about the borrower and property before they put their money on the line. As a result, borderline applications may not get approved.

Here’s a typical example.   

Imagine your son or granddaughter is trying to buy a rundown property that has heaps of potential but needs a lot of work. The buyer wants to put in some ‘sweat equity’ and add substantial value.

However, the bank may not be confident that a first-time borrower can pull off such a demanding project. So they might reject the application out of hand. 

That's where we come in.

Maybe we’ve known the borrower’s family for years. We know Mum and Dad have many successful renovations under their belt – and they’re keen to do the same for this project. So we can make sure the bank is fully appraised of the special circumstances in the mortgage application.

Because we have such a long track record and strong relationships with lenders, our word will mean a lot. It could mean the bank is happy to offer a larger sum with fewer strings attached. It may even get a loan approved that would otherwise be declined.

That’s just one example. In situations where a bank might otherwise pass on the loan, we can fight hard to get approval, armed with the knowledge and trust we’ve built up over the years.

Your referrals are precious. We really appreciate the business you bring to us, and in return, we will use all our inside knowledge and connections to help get a borderline application over the line.

It could save a lot of hassles and heartaches.  

We're always here for you - and for your friends and family members.   

Just send me an email or book an appointment using the links below.

Or you can log into our calendar and book a meeting any time, by clicking on the link at the bottom of our emails.