No matter the worthwhile purpose or reason for the loan, loans come in many shapes and sizes, with varying pricing options, set-up and on-going fees, repayment options and, terms and conditions.
You need to be clear on what your short-term and long-term strategies are, so sound judgment by the Credit Advisor can create/fashion a seamless experience and to ensure the loan facility is “not unsuitable” (NCCP)
Click to download the Client Needs Analysis checklist and email to us.
The lender (bank, building society, credit union or mortgage manager) are different in pricing, features and benefits in their product range, criteria and policy. But their assessing guidelines are rarely dissimilar.
Preparation is the key as well as the constraint on emotions and expectations being meet or exceeded
The Credit Advisor can assist to calculate the amount of loan required and mortgage insurance if it is a requirement.
However, be prepared:
do you have all the white goods and soft furnishings you will need? and,
include an allowance for removalist expenses even if friends are assisting – there will be a cost.
Know where you wish to purchase and be comfortable in your choice of location. Whether the residence requires work (and to what extent) or the property is to be brand new, or a pre-existing residence clean/vacant ready to move in.
The purchase price might not match the lender registered valuer’s market value estimate. The lender will use the lower of the contract price or the valuer’s.