Understanding lending in 4 simple steps

When you apply for finance, a lender (bank) thinks about 4 things.  As a general rule, lenders want to lend money - they are not looking to reject your application, so understanding how they will process your application will increase your chance of being successful. One of the key jobs of your broker is to package your application for you to get it approved - we do this by understanding not only the process but the credit policy of the lender.

To successfully package your application, your broker will focus on these 4 key dimensions.

1. Security and Valuation:
   When you apply for a mortgage, the property you're purchasing serves as security for the loan. Lenders will conduct a valuation to determine the property's worth and ensure it aligns with the loan amount. Our team will collaborate with trusted valuers to ensure a fair and accurate assessment, giving you peace of mind about your investment.
2. Credit Score and Credit History:
   Your credit score and credit history play a crucial role in the lending process. Lenders evaluate your creditworthiness to assess the risk associated with lending to you. We'll help you understand the factors that influence your credit score and offer guidance on improving it if necessary. Our goal is to position you favorably to lenders, increasing your chances of securing a competitive loan.
3. Servicing and Affordability of the Loan:
   Lenders evaluate your ability to service a loan by assessing your income, expenses, and existing debts. This helps determine the loan amount you can comfortably afford. Our team will work closely with you to calculate your borrowing capacity and ensure you select a loan that aligns with your financial situation. We'll provide clarity on the repayment obligations, helping you make informed decisions.
4. Specific Requirements for a Given Borrower:
   ach borrower has unique circumstances, and lenders may have specific requirements based on factors such as employment type, residency status, or financial history. Our experienced team will conduct a thorough assessment of your situation, identifying any specific requirements you need to meet. We'll provide comprehensive guidance, ensuring you have all the necessary documentation and meet the criteria set by lenders.

We work methodically through these four dimensions to build a compelling case for you to be approved for the finance you are looking for.

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