Which Financial Institution Can give the quickest preapproval?l?

Discussion in 'Loans & Mortgage Brokers' started by dontask, 2nd Aug, 2020.

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  1. dontask

    dontask Member

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    In short, my wife and I fell in love with a property yesterday, but the auction is in a few days. Our financial affairs are complex, with multiple rental properties, an additional trust structure where we are sole trustee, and some of our rentals rented by the room. Our LVR is low, between 50-60%.

    Which financial institution can give us the quickest preapproval to go to auction?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Macquarie will be fast - but they are not fully assessed preapps
     
  3. dontask

    dontask Member

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    Thanks Terry, I'll try them.
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    What DTI will u have ?

    And what purchase LVR do u need ?

    ta
    rolf
     
  5. Jess Peletier

    Jess Peletier Mortgages, Finance & Property Strategy Aust Wide Business Member

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    If they're not fully assessed they're literally worthless. Don't waste your time. Many lenders no longer fully assess a pre-app - CBA do and are likely to be pretty quick - go direct to branch if you need it within a week.
     
  6. Lindsay_W

    Lindsay_W Well-Known Member

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    Best speak to speak to a broker who can run your scenario with those lenders prior to applying
     
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