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Victoria · First home buyer case study

First-home buyers approved after an earlier decline

An earlier lender decline had put their first-home plans in doubt. Reviewing the late repayments and suitable lender options helped them move forward with a $720,000 purchase.

By Chris Berry · Published 23 October 2026

Completed outcome: Bendigo/Adelaide Bank approved the application within four days of submission. Settlement followed approximately one month later.

The challenge: an earlier decline and uncertainty about what came next

These first-home buyers were purchasing a property in Victoria for $720,000 with a 10% deposit. Their credit history included several late repayments on a credit card over the preceding couple of years.

They had applied for finance through a major lender and been declined. The clients told us they had been advised that the lender could not offer a way forward and that they should speak with a mortgage broker.

They came to Find A Better Rate to understand whether their earlier repayment history meant the purchase was out of reach, or whether another lender could consider their circumstances.

Understanding exactly what was on the credit history

The issue involved late credit-card repayments, rather than a formal default recorded on the credit report. The late repayments had occurred more than six months before the new application.

That detail mattered to the lender options available in this case. Treating every credit-history issue as the same problem would not have reflected the clients’ circumstances.

What the six-month detail means here

The timing helped us identify lenders prepared to consider this particular application. It is not a universal rule that late payments cease to matter after six months, or that an applicant will automatically qualify once that period has passed.

Our approach: review suitable lenders before applying again

After discussing the circumstances with the clients, Chris Berry identified several lenders prepared to consider the application despite the earlier late repayments.

We proceeded with Bendigo/Adelaide Bank. The application was assessed on its own merits, with the earlier repayment history forming part of the picture.

The value of the review was finding a lender willing to assess the clients’ actual circumstances after their earlier decline. It did not involve removing the repayment history or guaranteeing a different decision.

The outcome: approval in four days and a settled first purchase

Bendigo/Adelaide Bank approved the application within four days of submission. The purchase settled approximately one month after approval.

The completed outcome was a $720,000 first-property purchase in Victoria with a 10% deposit. The four-day timeframe relates to the decision after submission, rather than the earlier discussions and preparation.

  1. Starting pointAn application to a major lender had been declined
  2. ReviewLate repayments and suitable lender options considered
  3. Within four days of submissionBendigo/Adelaide Bank approval received
  4. Approximately one month after approvalFirst-property purchase settled

What other first-home buyers can take from this

In this case, an earlier decline did not prevent a later approval. Understanding the type of credit-history issue, when it happened and which lenders would consider it helped establish a way forward.

Another borrower’s situation may lead to a different result. This story does not promise approval, the same timeframe or particular interest rates and fees.

For help preparing for a conversation, explore our first home buyer guides or read about home loan support when your credit history is complicated.

Published with the clients’ permission. Names and the property address have been withheld. Case details and the lending outcome are provided by Chris Berry. This is one client experience, not a promise of approval or a statement of current lender policy. General information only; assessment requirements and outcomes vary.