"Knowing what the banks are searching for makes it easier to prepare the loan application so that you can conquer a default. Defaults put you at a huge disadvantage in getting a loan. It is extremely important to understand what takes http://www.bbc.co.uk/search?q=https://en.wikipedia.org/wiki/Debt_consolidation place to a loan application after you have it sent for approval. As soon as you submit a loan. There are 2 procedures.
Manual checking.
Automated credit process.
The manual one precedes. Checking out the credit report. It is here they can see any defaults you have actually had in the last five years. If you have a default, any default listed you are in difficulty. If it is bad enough they shut the file and right away state loan declined. No appeal.
From there on it all about loan serviceability and a variety of other requirements. Mostly it is automated. So what they are examining? pacific national funding reviews They have a matrix of questions that you need to please.
They take the application, the statements that you have sent and if all these fill