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As a further service to our loyal band of customers, South Coast Business & Financial Solutions has now introduced a free annual home loan review or "Health Check" to ensure that your loan(s) is still the best available for your own personal circumstances.
There seem to be new or better loan products or packages announced almost daily by the Banks and other lenders at present so we think it is now essential that your loan "position" be regularly reviews.
To make an appointment or to simply chat about your options, please call any of our staff on 1800 4BANKS (that's 1800 422657).
As usual, we can meet with you at either of our offices or at your home or office if this is more convenient.
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Purchasing a home, while a huge milestone, can leave even the most seasoned buyer feeling frazzled. Obtaining pre-approved finance takes the guesswork out of what you can afford-allowing you to bid with confidence and within your means.
Obtaining a pre-approval makes a lot of sense. It is better to discover that you can't afford to finance that dream beachfront property before you put down the deposit!
The pre-approval process is essentially the same as arranging a full finance. You need to complete an application form and provide relevant documentation, such as proof of saving, tax returns, and pay slips. A pre-approval can take from a few hours to a few days depending on the lender.
If your application is successful the lender will issue a 'pre-approval letter' with the shelf life of between three and six months. This will give you a clear picture of what you can borrow as well as your monthly repayments.
And when you find your home, you can bid with confidence-safe in the knowledge that you have the finance covered. However, even with pre-approval, your property still needs to meet with a satisfactory valuation, building and pest inspections before finance will be finalised.
Advantages at a Glance:
Bidding power-If buying at auction you will need to pay a deposit and sign the contract.
Bargaining power-If you are armed with pre-approval you will be treated as a serious buyer by real estate agents and sellers which gives you the edge over buyers who are unsure of their finances.
Peace of mind-A real understanding of your borrowing capabilities minimizes the risk of buying beyond your means.
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