Are You Really Bank Ready?
The reality is, you only get one shot at submitting a loan application. Too many enquiries on your credit history raise alarm bells with the banks. The banks do not want to see that you have been going from bank to bank to obtain finance. Each time you make an enquiry it is recorded on your credit history.
Be “bank ready” the first time. You may not have a full understanding of what the banks are looking for or what they require to approve your loan. It is not necessarily what you say to the banks that can let you down, but rather how you say it. It is really important that you have all your information in order before you submit the loan application and, that it is presented in a way that the banks will read it favorably.
A good mortgage broker will really listen to you and your story and have a strong understanding of your needs. They will ask you all the important questions and then make sure the information matches the story presented to the bank.
Strong relationships within the banks are vital. An experienced mortgage broker can approach a like minded banker to assess your application. You need someone who will understand you as an individual. This will not only help you achieve the result you want, but also save you time away from your job or business.