More and more we are seeing the banks become uncertain and cautious on lending. The last few weeks have seen changes to lending criteria and even some declines on finance. When was the last time you checked with your bank or broker?
Most banks will require minimum of 5% deposit,
3 month proof of savings, stable employment with history between 3-6 months, credit reference checks and the go ahead from a mortgage insurer.
Due to the global finance uncertainty, it is now more important to be pre-approved, up to date and have the latest information.
My clients like to use Andy Iriks from Loan Market : 0413 999 286
Call him and double check you have the latest information and the package the bank offers you is in your interest, not just theirs. Brokers provide a free service and often save people substantial amounts of money.
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