Funding available on pre-approved lending for low deposit borrowers
Of late, there has been more funding currently available for clients with less than 20% deposit, due to the changes to the LVR's on January 1st.
However, having said that, there in almost all instances must still be a signed contract prior to application.
We now have a limited opportunity to apply for pre-approval to go to auction. The offer will only last for 30 days and is property specific so if unsuccessful the finance is revoked.
Likewise, if a client is negotiating or going to multi-offer we can obtain 'pre-approval' which is property specific to give clients with less than 20% deposit a better chance of success and competing.
This is hot off the press, so pop in to see your Loan Market adviser now to take advantage of this as its not available through all lenders.