Some banks have introduced point scoring into their computer software. If a loan cannot score through the system it is automatically declined without any human assessment.
Point scoring takes things into account such as:-
1) land line telephone numbers (if you don't have a land line connected it can count against you).
2) not having a credit card
3) you have not lived at your current address for 2 - 3 years
4) your job status is unstable
5) whether you are a skilled or unskilled worker
6) your asset position is not strong enough for your age group
Additionally, age was not previouswly considered when borrowing. For older applicants those 55 upwards need to show an exit strategy when borrowing or demonstrate they can clear the debt in full by age 75.
Exit strategies can include, inheritance, repayment from Superannuation, downsizing by selling.