Central Coast Finance Services

Loan Pre-approval

When you find the property that ticks all your boxes, you’ll want to know you can make it yours.

Obtaining a pre-approval provides some confidence that you can search for a property within a certain price range.

How does it work?

A pre-approval gets the loan process started for you. It helps to confirm that you have the funds available to go through with a property transaction and the capacity to meet repayments.

Having a pre-approval in place may give you an advantage when negotiating on a property as you will be able to confidently proceed with an offer where other buyers without their finance in place may hesitate.

Each lender does things slightly differently, but as a minimum, a pre-approval generally involves a review of:

  • Your employment
  • Your income
  • Your deposit
  • Satisfactory photo identification

As well as covering the above items, many lenders will also include a review of your repayment history on existing debts and a credit check.

With a good pre-approval in place, final unconditional approval is generally only subject to items specific to the property to be purchased (such as a satisfactory valuation and approval from the mortgage insurer if applicable), and confirmation that your previous financial position has remained unchanged.

Talk to a finance specialist you can trust

Call 1300 391 787 today or complete our quick contact form

Talk to a finance specialist you can trust

Call 1300 391 787 today or complete our quick contact form

Mortgage & Finance Broking Services Kim Hall Credit Representative Number: 436756 | KM Hall Pty Ltd | ABN: 32 160 899 141 Credit Representative Number: 431565 Centrepoint Lending Solutions Pty Ltd | Australian Credit Licence: 377711 ABN: 40 100 947 804 www.cpal.com.au/cls | cls@cpal.com.au 1300 557 598 Privacy Policy | Disclaimer | Complaints Procedure

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