Join Australia's most dynamic and respected property investment community

loan preapproval

Discussion in 'Property Finance' started by JRS, 7th Jan, 2016.

  1. JRS

    JRS Member

    Joined:
    20th Jun, 2015
    Posts:
    17
    Location:
    Sydney
    Hi, are there any penalties if i had a loan preapproval with the bank then choose to go with a broker instead?

    Thanks
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,934
    Location:
    Canberra, Brisbane and Sunshine Coast
    Nope - generally not.

    Broker will just need to explain the hit to your credit file for the preapproval.

    Cheers

    Jamie
     
  3. Redom

    Redom Finance Strategist - Sydney Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,152
    Location:
    Sydney
    No cost to you, other than one credit enquiry on your application. If you haven't had many in the last 6 months and are seeking one loan (not multiple loans) over the next 6 month window, this cost is relatively negligible.

    Cheers,
    Redom
     
  4. JRS

    JRS Member

    Joined:
    20th Jun, 2015
    Posts:
    17
    Location:
    Sydney
    Thanks guys, really appreciated.