With Spring just around the corner which usually means the property market will start to warm up! With the current sales climate and a lack of stock the Perth market is already on fire.
If you are considering making that next property purchase, it could be a good idea to at least get pre-assessed by your broker or a pre-approval by a lender. Being ready with a pre-approval may give you that edge when it comes to negotiating on your purchase.
Not all lenders will do a fully assessed pre-approval and many only do a basic pre-approval, which means that when you proceed with your purchase your loan application will still need to go through a full assessment.
How long does a pre-approval take?
It varies from lender to lender from the time of application submission. Your broker should be able to give you an expected timeframe for your preferred lender. Providing the correct documentation up-front will help achieve a speedy turnaround.
Follow these three easy steps to get your home loan pre-approval.
 | Collect your documents Proof of identity Proof of income and savings Proof of living expenses and other expenditure Evidence of current assets and liabilities. |  |
 | Talk with us to find out How much can you borrow How much you require for a deposit How much you can repay each month If you qualify for a government grant or concession. |  |
 | Submit pre-approval application with a lender We fill out the forms and do all the work The lender provides confirmation in writing Pre-approval lasts for 3-6 months. |  |
If you’re ready to start your hunt for a new home or investment property, get in touch with us to organise pre-approval early so you are ready to act fast when you find the right property.
You can book in an appointment face to face, or online to get your application started. Learn more about the benefits of pre-approval or get in touch.