Chimene Lindsay | Property

Chimene Lindsay

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25.01.2022 Do I really need a mortgage broker? 3. Banks receive hundreds of pre-approval requests every week, most of them never proceed or are just shopping around for the cheapest interest rate so you can understand why banks may take a short cut and avoid providing a fully verified pre-approval up front. #prapproval #homeloan #newhome

20.01.2022 Do I really need a mortgage broker? 4. When approaching a bank, most of the time you will speak with the branch staff or their mortgage lending officer. Generally they will take your information verbally, enter it into their system and from there the system will assess your eligibility and provide you with a pre-approval letter These generally have a list of conditions, including everything from verifying your income, verifying your deposit and verifying all the information you have supplied verbally. #prapproval #homeloan #newhome

18.01.2022 Do I really need a mortgage broker? 2. Real estate agents and sellers love certainty and a fully verified pre-approval provides just this. Many sellers are motivated to sell and often have reasons unknown to you to get a quick sale. It could be a relationship separation, or the seller could be relying on their current home to be sold by a set date in order to meet the conditions on the new home they are buying. #prapproval #homeloan #newhome

13.01.2022 Do I really need a mortgage broker? 1. You’d be surprised at how many home buyers will jump online and use one of the thousands of DIY online borrowing capacity calculators. These calculators are nothing more than a general guide and are highly inaccurate they do not take in to account personal circumstances, make allowances for lender policy and are open to interpretation. #prapproval #homeloan #newhome

12.01.2022 How do banks assess genuine savings? 5. You get paid monthly Take caution against transferring all your savings in one payment. Yes, you could likely prove to the bank that the deposit came directly from your income, and therefor is genuine savings but to do this, you’re likely going to have to provide the bank with your transactional bank statement in order to show the flow of the funds from your pay, to your transaction account, to your savings account. This seems simple in theory but now the bank is picking apart every single transaction in your transactional bank account, and it’s always that one transactional from 3 months ago that isn’t even relevant to your current circumstances that causes issues. #savings #homeloan #genuinesavings