Welcome to the first day of Spring
As the weather warms up and more properties come on to the market, make sure you have all your finances sorted when purchasing your owner occupied or investment property. Don’t go in without a pre-approval.
Lately, the lenders have been behind in providing home loan approvals and this could be the difference between winning your property bid or losing your holding deposit. They may not publicly admit to this, but their credit teams are taking anywhere between 4-9 days (including weekends) in processing a home loan application. If you haven’t provided all the necessary documents in the first or second consultation with your broker, this will take longer.
At Vesta Capital, we have the ability to work quickly in providing you advice and credit proposals without having to physically be there in person. This allows us to speed up submission times so you, the customer have ample time to obtain an approval.
So remember to speak to us first, obtain an approval and then go house hunting otherwise you will be sweating until the very last minute if lenders get any busier than they already are.