A good mortgage adviser (like ourselves!) will help you through the entire house buying process which is what we do. By having a home loan pre approval from a bank or lender you will be in a far better position to buy a house. You will be able to move quicker thus having a better chance of having an offer accepted by the seller. You will know your maximum budget thus saving time during the process. Key advantages of a Craig Pope pre-approval include:
- Get approvals from a range of banks! (if credit criterial allows)
- Valid for 2-6 months depending on LVR
- Get unlimited property intelligence reports! (Mini appraisal valuation from online statistics specific to individual properties)
- One application form and professional unbiased advice making our service easy, saving you time and money!
- Tailored Craig Pope Mortgage Reduction Plan
We will sit down with you and put together an application form with all the relevant information that the banks and lenders need. We only need to fill in one application form that we will use with our suite of banks and lenders.
Once you have your Pre-Approval (takes about 24-48 hours once we have all the info and depending on bank workloads) you are free to head out and negotiate a house purchase. The banks/lenders are likely to have conditions attached to the approval based on your circumstance so it pays to be fully aware of your limitations when negotiating with real estate agents. We can help you with this.
These conditions include being subject to an acceptable sale & purchase agreement and sometimes a valuation is required if borrowing over 80% or if it is a private sale.
What do I need to provide for a pre-approval?
- Last 3 months transactional bank statements (cannot be Excel or CSV file)
- Proof of income e.g. latest consecutive payslips – preferably the last 3 payslips or letter from an employer on company letterhead confirming employment and income. If self-employed, the last 2 years business financials
- Proof of deposit – last 3 months savings statements, email confirming KiwiSaver withdrawal amount, HomeStart approval letters, gift letter if applicable
- Copy of Photo ID like a drivers licence or passport
- There may be additional requirements depending on your situation and if it’s a Welcome Home Loan application