Problems with interest rates and repayments? Ask for home loan help.
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Pre-approval should take a little less time than full approval because generally it is not possible to confirm property value in advance. I recommend that you allow say fourteen days as a minimum for pre- approval and more if it covers a period of public holidays or if your application is likely to be viewed as difficult or unusual. Placing stress on yourself, the broker and, the lender does nobody any good.
Getting a pre-approval can save some time and can give you some bargaining power with a vendor but remember a pre-approval is still usually subject to some conditions such as valuation and so never make a cash offer on the basis of pre-approval.
In some instances, Your Local Finance can arrange a fast-track pre-approval via a number of selected lenders. Find out more by calling 1300 787 665.
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