Whether you?re looking to buy a family home or an investment property, finding somewhere that ticks all the boxes can be difficult.?So?when you do find your ideal property, you need?to be able to act?decisively.?
That?s why it?s essential to have mortgage?pre-approval?in your pocket?before you start.?It gives you the edge over other buyers,?and if yours is not in place, you?could find yourself?losing?out.???
Time is of the essence?
In today?s 24/7 online world,?much?of what we desire?is?only a click away. Unfortunately, arranging a mortgage is still a time-consuming process. The queues with lenders are long, and currently?can stretch to?three weeks ? and that?s if everything runs smoothly.?If any issues arise, the extra time it takes to find the correct documentation?and recheck things can lengthen the process.??
By arranging your finance before you start your property search, you can be confident that?once you decide to buy,?you can act quickly to make an offer or bid at auction.?
By obtaining pre-approval for your?mortgage, you will have a clear outline of your budget: how much you?have to?spend on the property and your future mortgage repayments. This will allow you to focus your search on only those properties?and areas?that are within your price range ? saving you time and potential disappointment.??
Although the Sydney market has cooled over recent months, there?s still a lot of competition out there. Therefore, any?advantage?you can obtain over your fellow?househunters?is going to work in your favour. Having your pre-approval letter to show an agent gives you an instant?edge?over those who have yet to arrange finance.??
Househunting?is?stressful enough when things run smoothly ? even more so when?problems occur. By organising mortgage pre-approval, you?ll smooth out many of the bumps in the journey to your new?home before you encounter them.?
Your Zippy?broker?will not only organise the best?mortgage?to meet your financial needs, they?have a wealth?of industry know-how at their fingertips. They?ll be able to?answer all your house-hunting questions and?recommend other trusted professionals???from conveyancers?and?accountants, to?building inspectors ??to ensure the transition to your new home runs as quickly and smoothly as possible.??
Louisa Sanghera is a Finance Broker for Residential Mortgages, Vehicle and Asset Finance, Commercial Lending and Budgeting and Cashflow Coaching with Zippy Financial.
She has?gained more than 30 years in the Banking and Finance Industry, and since founding Zippy Financial, has become a multi award nominated expert in the field of finance featuring regularly in industry press and speaking at finance and investment seminars across the country.