4 Step Process | www.moneylease.com.au

Getting Pre-Approval: Your Competitive Edge

A home loan pre-approval is a conditional offer from a lender, indicating how much they are willing to lend you. It's a vital step that:

Provides Certainty: You know your budget before you start seriously looking, preventing disappointment.
Strengthens Your Offer: Real estate agents and sellers often prefer buyers with pre-approval, showing you're a serious contender.
Speeds Up the Process: Once you find your dream property, the formal application process will be much quicker.

We'll work with you to gather the necessary documents and submit a strong pre-approval application to multiple lenders, finding the best fit for you.

The Australian market offers a variety of home loan products, each with different features and benefits. Our experts will help you understand:

Variable Rate Loans: Interest rates fluctuate with the market.
Fixed Rate Loans: Your interest rate is locked in for a set period (e.g., 1-5 years), providing repayment certainty.
Split Loans: A combination of both variable and fixed rates, offering flexibility and stability.
Offset Accounts: Reduce the interest paid on your loan by having your savings linked to your mortgage.
Redraw Facilities: Access extra repayments you've made on your loan

We'll clearly explain the pros and cons of each, ensuring you select a loan structure that aligns with your financial goals and risk tolerance.

Once you've found your property and your pre-approval is in place, we manage the intricate final stages:

Formal Loan Application: We'll help you complete all necessary paperwork and submit your full application to your chosen lender.
Valuation & LMI Assessment: The lender will conduct a valuation of the property and assess LMI if your deposit is less than 20%.
Loan Approval & Documentation: Once approved, we'll guide you through signing the loan offer and other legal documents.
Settlement: We coordinate with your solicitor/conveyancer and the lender to ensure a smooth transfer of ownership and funds on settlement day.

Our goal is to make this complex process as stress-free as possible, keeping you informed at every turn.

Before you even start house hunting, it's crucial to know how much you can realistically borrow. We help you assess:

Income & Expenses: A detailed look at your current financial situation, including salaries, existing debts, and living costs.
Credit History: We can help you understand your credit score and how it impacts your loan application.
Deposit Amount: The larger your deposit, generally the better your loan options and lower your Lenders Mortgage Insurance (LMI), if applicable