No, if your financial situation changes after you have received pre-approval, your situation will need to be reassessed. This could be because you have changed jobs, had changes to your income, taken on a new credit card or had a major change in your life like a new baby. These factors could impact the amount you’re able to borrow from your lender.
Other FAQs
That’s completely fine. Many clients begin with a borrowing capacity conversation to understand their position before actively searching for a property. An initial discussion can provide clarity and direction, even [...]
Each time you apply for pre-approval this is treated like any other application for credit and will be added to your credit history, regardless of whether you are approved or [...]
There are a number of fees and costs involved when buying a property. To help avoid any surprises, the list below sets out many of the usual costs: Stamp duty — This [...]
Shares and property can both play a role in a diversified wealth strategy, but they serve different purposes and carry different risks. Shares and managed investments typically offer: Liquidity (easier [...]
Most banks do not allow extra repayments on fixed loans. Some banks allow you to make extra repayments on your fixed home loan of up to $10,000 per account which can be [...]
Yes. Insurance can be held either inside or outside superannuation, and sometimes a combination of both is appropriate. Holding cover outside super may: Provide greater flexibility in certain claim situations [...]
Usually between 5% – 10% of the value of a property. Speak with us to discuss your options for a deposit.
No. Financial planning is about making the most of what you have, regardless of your income or net worth. Many people benefit most from advice earlier in life, when good [...]
For most lenders a pre-approval is valid for 90 days, but it can often be extended by resupplying your income and expense information to your lender.
Investment portfolios should generally be reviewed at least annually, or whenever there is a significant change in your circumstances. Regular review helps ensure: Your asset allocation remains aligned with your [...]
Yes. Self-employed borrowers often require more detailed income assessment, and lender policies can vary significantly in this area. We help identify lenders whose criteria align with your business structure and [...]
Many people hold life and TPD insurance automatically through their superannuation fund. While this can be convenient and cost-effective, the cover amounts are often based on default settings rather than [...]
Not always. Some finance options allow you to borrow the full purchase price, while others may require a deposit depending on the lender, asset type and your financial position.
SMSF commercial property loans may attract different interest rates and fees compared to standard residential lending. This is because SMSF lending involves specialised structures, additional compliance requirements, and a smaller [...]
Many buyers get swept up on a wave of rising property prices when they hand over their deposit in exchange for a floor plan. Historically, property is a consistent long-term [...]
