Today, we’d like to talk about the importance of getting an early pre approval. Sometimes, clients come to us needing urgent property finance. They may have signed a contract months, or even a year earlier. This is common with off the plan, or unregistered land purchases. People lose track of time, or think getting finance will be easy. So they leave it to the last minute.
Unfortunately, this can lead to a lot of stress.
Why getting a pre approval is so important
If you sign a contract for an off the plan or unregistered land purchase, and hold off on getting finance, several things may go wrong.
For a start, leaving things until the last minute is, in itself, quite stressful.
Secondly, it leaves you with little time to deal with unforeseen issues that may arise.
Thirdly, and worst of all – you may find out too late that you can’t get the finance you need. This can be disastrous. Not only will you lose your deposit, and experience the disappointment of losing your property, but property values will likely have gone up, making it harder for you to start over. What’s worse, is that you may have actually been eligible for the required amount at the time you signed. Changing lender policies, and tightening of government legislation, often make it harder to get approved as time goes by.
So how does a pre approval help? Having a pre approval for the finance you need, eliminates a large portion of stress. It also gives you more time to address any issues that may arise with obtaining finance.
Finally, securing a pre approval early reduces the risk of you being unable to obtain finance due to changing policies and rules in the short term. And in the long term, you can get a better idea of how much room you have to move, should policies change gradually.
When should you get a pre approval?
The answer to this question is easy: you should get your pre approval as early as possible. So if you’re thinking about signing a contract, or have already signed a contract for an off the plan or unregistered land purchase, don’t delay! Start the process NOW!
At Bee Finance Savvy, we make the pre approval process easy and straightforward. A chat with our friendly and knowledgeable broker Desiree is all you need to get started! Desiree will provide you with an up front, obligation free consultation. This consultation will be used to discuss your circumstances and needs, to assess your best options for finance.
We’ll provide you with peace of mind, allowing you to relax in the knowledge that your pre approval is in place, ready for your purchase.
So to take the next step, call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at firstname.lastname@example.org . Alternatively, you can fill out the contact us form on this site.
Would you like to hear about how Bee Finance Savvy has helped other customers? Take a moment to look at our WOMO reviews! https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda
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