14 What you NEED to know about pre-approvals, with James Ruddick

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By Amy Lunardi. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
In todays episode we are delving into loan pre-approvals. Now, every episode in this series is important, but if I had to choose which one was the MOST important episode for you to listen to, this is it. If we make a mistake with our finance, the worst case scenario is that we can lose our deposit, and in some situations there can be extra financial and legal ramifications on top of this. So it’s something we absolutely do not want to take any risks on. Today I’m joined by James Ruddick - mortgage broker from Loan Market.
We run through the difference between a pre-approval and formal approval, the process in getting a pre-approval, the risks of not having one, what kind of things could prevent us from being approved. We'll also discuss bank valuations and also the types of properties which the banks don’t like, it’s these types of properties which you might not be able to get finance for, or might be harder for you to resell in the future.
Do you have a burning property question you’d like answered on the show? Connect with us on instagram @thebuyersbible, we’d love to hear from you with questions, thoughts and feedback. Don’t forget to head to our website www.thebuyersbible.com.au for our show notes, and to download your free first home buyer checklist.
Information provided in our podcast is general in nature and does not constitute financial advice. Every effort has been made to ensure the information is accurate, listeners must not rely on this information to make investment or financial decisions.
Theme music: Lioness (Instrumental) by DayFox https://soundcloud.com/dayfox Free Download / Stream: https://bit.ly/lioness-instrumental

31 episodes