- In Building wealth - Finance for investors, First things first - Steps before applying for finance, Home sweet home - first home owner finance
In today’s market properties are being snapped up fast, but it is never wise to sign a contract without having a pre-approval in place, or even better an approval subject only to valuation.
This is especially true during busy periods when proper approval times from banks can lag, so it is best to put everything in place well before you wish to start your property hunt in order to avoid not being ready to buy.
It is also important to be aware of turnaround times from lenders, particularly when they have a great special on. If you have your heart set on a particular property you may wish to forgo the bank with the lowest rate that’s currently sitting at a 12 day turnaround time for approvals!
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