34-year-old woman reveals reason bank rejected her home loan application

A woman has revealed the horrible moment she was told her home loan application was denied for what she believes was an unfair reason.

New Zealander Layla Kelly had saved up a six-figure deposit when she was rejected for a home loan because of the industry she works in.

The 34-year-old worked in banking for over seven years and was making $65,000 by the time she left the industry.

She was living “pay cheque to pay cheque” and she didn’t even consider the idea of homeownership.

Ms Kelly, in theory, craved financial stability, but she wasn’t sure how she would achieve it. She had already secured a good job and even that wasn’t enough to get her away from being a lifetime renter.

When she was finishing up maternity leave, she decided to join up and start making content for X-rated subscription platform, OnlyFans.

She went from making a modest wage to earning over $250,000 at an incredibly rapid rate, which changed her life.

“I didn’t want to be chained to a corporate desk anymore”, she told news.com.au.

“I wanted a better work-life balance, and I wanted more time with my family and freedom to increase my income.”

Layla Kelly worked hard to save up for a house. Picture: TikTok/LaylaKellyOffical

When she was in banking she earned $65,000 a year. Picture: Instagram/LaylaKellyOffical

MORE: Home loan trap taking years to escape

Ms Kelly said that increasing her salary by $185,000 a year was nothing short of “amazing”, revealing it allowed her to save up for a six-figure house deposit without having to sacrifice too much.

“I didn’t even think buying a house was possible on my banking wage,” she said.

“The cost of living in New Zealand is really high, so even when you’re being paid what is supposed to be a liveable wage, it doesn’t feel that way anymore.”

Ms Kelly said saving up for a deposit was a massive deal because she did it without inheriting wealth, with the median price for a house in New Zealand now ballooning to over $900,000.

“We had no help from anyone. We didn’t have parents or grandparents helping us,” she said.

She thought the biggest hurdle was going to be saving up the deposit, but she ended up hitting another snag.

“We had an incredible broker who went out to bat for us, and most banks were great, but there was one that wouldn’t assess our application because of the industry I’m in,” she explained.

Ms Kelly was shocked a bank wouldn't accept her. Picture: Instagram/LaylaKellyOffical

She said her broker got her through the process. Picture: Instagram/LaylaKellyOffical

Ms Kelly said she found it “hypocritical” because she’s sure the bank lends to people who own gambling or vape businesses.

“I was really annoyed. They just saw it on paper and didn’t even care to have a conversation with us,” she said.

The 34-year-old also found it frustrating that she was offering to “give them money”, but was instead “discriminated” against because of her career.

It also annoyed her that she had made such an effort to save up a decent deposit so that she would have “manageable” repayments, wouldn’t be at risk of overextending, and would, therefore, be a safe bet for a bank - yet, she was still declined.

Ms Kelly said it is already “really hard” for first-time home buyers, and while, thankfully, plenty of other banks would lend to her and she eventually secured a home loan, it was an unfair experience.