Securing a home loan pre-approval allows you to buy property or bid at auction with confidence.
You can secure a commitment from the bank or lender of your choice for how much you can borrow before you buy, with a formal, written home loan pre-approval.
An official conditional pre-approval isn’t just an ‘indication’ of how much you can borrow it is a real commitment from your lender as to how much they are willing to lend you, and it may speed up the final approval process when you do find the right property.
You’ll know exactly how much money you have to negotiate with and can comfortably sign a contract or bid at auction, under similar conditions as a cash contract. This can also work in your favour if you are up against rival buyers considering the same property.
Even with a written home loan pre-approval there will still be some conditions to meet before a final unconditional approval will be issued, such as:
Home loan pre-approvals can provide peace of mind and mean one less thing to do during that busy and exciting time when you do find the right property.
If you are already looking at property or considering buying your first home or first investment property purchase I thoroughly recommend you talk to an experienced mortgage broker first.
Your mortgage broker is going to be more than just someone to talk dollars with. They work with clients purchasing and selling property day in and day out and will know the purchasing process back to front.
Not only will they manage your finance pre-approval application, but they will also be an invaluable guide and will even be able to recommend other relevant professionals to help you through the process should you need them. Experienced professionals like real estate agents, buyers agents, solicitors, accountants, tax advisors, valuers, pest inspectors and more.
THE FINEPRINT: The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. While all care and attention are taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
Green Finance Group Pty Ltd ACN 145 035 221 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192.
“My background in banking combined with the flexibility of being an independent finance broker means I can offer my clients the best of both worlds – I know bank process and policy inside out and I can provide a real choice of loans from a big range of banks, not just one.”
Whether you are a first homebuyer, an experienced property investor, wishing to renovate or upgrade, or you simply want to save money on your existing mortgage, Nathan has the lending knowledge and experience to help you find savings with a better home, car or personal loan.
My career in finance began in the early 2000s with NAB, one of Australia’s Top 5 banks, where I worked for over a decade securing funding and everyday banking solutions for both private and business clients.
