DATE: 28/05/2015
CATEGORY: Awesome news, Blog, First Home Buyer, Home buying, Mortgages, Pre-approval

your pre-approval just got sweeter!

jelly_beans_shellac-1isy0bq (1)Whether you’ve already found a property and gone unconditional, or are still house-hunting, transferring your pre-approval to Awesome Mortgages will sweeten the deal.

It’s easy to do, and the benefits will be significant.

your pre-approval

Home loan pre-approvals provide you with the confidence you have your financial ducks in a row and can buy a property. They’re a time-specific commitment from a bank to you, allowing you to progress your home-buying plans. But they don’t tie you to your current bank.

If you’re not yet pre-approved check out this blog post to find our how getting pre-approved can give you the home-buying edge >>

key benefits of transferring your pre-approval to Awesome Mortgages

Many lawyers recommend to their clients that they seek impartial advice from an experienced, professional mortgage adviser before accepting an offer of finance from a bank.

Gaining professional, practical and independent advice means less risk and greater peace of mind. Plus when you deal with a great mortgage expert you get more than just a mortgage. An awesome mortgage adviser will help you:

• get the lowest possible interest rates and best possible benefits (e.g. cash contribution)
• choose from a wider range of lenders and options
• get the best mortgage to suit your needs
• repay your loan faster
• make the right move and stay on top – whatever your needs

All these benefits stem from the professionalism and expertise of an impartial mortgage specialist. Someone who’s well connected and knowledgeable about what’s out there in the marketplace. Because they’re not aligned with any one bank, and not pushing just one barrow, you’ll never have to wonder, was there a better deal somewhere else? The wrong choice is often a costly choice.

All things being equal your current bank may well be the best fit for you. But to be able to make a considered decision it’s important to fully understand all your options and the differences between the banks.

impartial advice across a range of providers

One of the questions we’re often asked is, ‘what about the personal banker I’ve been dealing with? I quite like them. I feel like I owe them something for the time they’ve spent working with us.’

That’s fantastic. We’re all about relationships too. However, what you’ve got to think about first and foremost is what’s most important for you. You’re about to make one of your biggest financial decisions ever, and amongst other variables getting the bottom line right is critical.

Your personal banker can’t offer impartial advice. Nor can they facilitate any negotiations across banks to ensure you’re getting the best deal. Their loyalty and commitment, understandably, is limited to their own employer and their bank’s suite of mortgage offerings.

A professional mortgage adviser, on the other hand, can, and does, offer much valued impartiality and greater choice.

how to stay sweet with your current pre-approval provider

If you’re worried about damaging your relationship or getting offside with your current banking professional you needn’t worry.

The best way to position things with your current bank is something along the lines of, ‘We’d like to be drawing down our loan with you, but we’re about to make a very big decision and we want to make a fully informed choice. We want to know what else is out there in the marketplace to ensure we’re getting the best deal and you’re the right fit for us.

We can have that conversation with your personal banker, or you can. It’s what’s most comfortable for you that matters most.

If you do draw down the loan with your existing bank, the person who you were formally dealing with can still do what the industry calls ‘the handover or wash-up,‘ – liaising directly with you to set up any new accounts you may need. In this way they’ll have the satisfaction of helping you through the home loan process and be recognised by the bank as doing a great job. And you’ll get to continue the relationship and level of service you’ve come to enjoy. So wins all round.

Transferring your mortgage isn’t about burning bridges, it’s about opening doors.

will transferring my pre-approval mean I’ll lose my mortgage?

Transferring your pre-approval to a professional mortgage adviser doesn’t mean losing control. Good mortgage advisers have long-term contractual relationships with the banks and are often seen as an extension of their business development team.

Assuming your personal situation hasn’t changed there’s absolutely no way the bank you’re currently with will cancel your current pre-approval

It also can’t be taken away because bank lending criteria changes or because the Reserve Bank has imposed new lending restrictions.. A pre-approval remains valid until the expiry date set by the bank which typically is up to six months. The bank does however reserve the right to withdraw their offer if your financial situation changes and they are concerned you might not be able to meet your financial obligations.

So transferring your mortgage is not only a safe choice, it’s a smart choice, and it’s an easy choice.

smart advice from savvy professionals – we’re here to help

Whether you’re still hunting or have found your dream home, transferring your current pre-approval to Awesome Mortgages is simple and the benefits are awesome!

In short, it involves two quick steps:

1.) Completing a simple online application, which in addition to providing us with your financial information, lets us know what specific goals, plans and preferences you have for your mortgage

2.) Advising the bank who holds your current pre-approval that you now wish to work with Awesome Mortgages as your adviser.

By simplifying the process of transferring your pre-approval and saving you the time of running around, you’ll benefit from the clout we have with banks, our sabre-sharp negotiating power, and a bespoke mortgage tailored specifically for you.

You’ll then be able to settle into your new home with the confidence you’ve made a really smart choice.

As one of our clients recently said recently, “They won’t just get you a great home loan – they’ll get you an awesome home loan!”

Contact us now to get started.


Posted in Awesome news, Blog, First Home Buyer, Home buying, Mortgages, Pre-approval

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