Why a Pre-Approval is so important

Here we will explain why a Pre-Approval of a loan is so important when making an offer on a property or attending an auction.


As competition for a property can be so fierce, it's so important to always be one step ahead and be prepared when purchasing a property, as well as attending auctions. Get a head start with a pre-approval loan.


What is a PRE-APPROVAL?

  • The term Pre-approval (also at times called an 'approval in advance') is basically a guarantee given by the lender that you can borrow a certain amount of money, based on the information you provide to them on the loan application to your lender via your broker.
  • It will be subject to terms and conditions, a pre-approval basically gives you the OK on your loan finance, even if you've not yet decided on a property as yet.
  • A Pre-Approval gives you peace of mind and protection, meaning that your finance is under control, and you can focus on finding a property that you like, knowing how much you can borrow to suit your budget.
  • The amount of the pre-approval is usually determined by your ability to meet the loan repayments.
  • Most Pre-Approvals are valid for up to 3 months, however they may be extended by the lender.
  • Once your financial status has been given the tick of approval by the lender, you will receive a Pre-approval notification from your finance broker, which will see you on your way to property ownership in little or no time at all.


How can you get a Pre-Approval?

Call 0415 280 555 or Contact us via our Enquiry Form today and we will get this request processed immediately.



Why should I obtain a Pre-Approval?

  1. PEACE OF MIND: Gaining a successful pre-approval gives you all the confidence of knowing exactly how much you can borrow when buying a property
  2. STRONGER BARGAINING POWER: Having a pre-approval of your finance would most certainly put you in the driver's seat, when it comes to negotiating a better price with the seller, especially if there are a fewer stringent conditions upon the sale.
  3. ABILITY TO BID AT AUCTIONS: Please remember when you purchase a property under Auction there isn't any cooling off period as such. So therefore you must have a pre-approval arranged in advance.!
  4. JUMP THE BUYING QUEUE: Having the pre-approval gained in advance enables you to certainly seize the opportunity and act quickly when you find the dream property that you have always been looking for and want!


Are you interested in a Pre-Approval?

Apply Now.


 
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