Having your home loan approval delayed as a result of not having allyour required documentation ready to go could end up costing a lot more than just time – it could mean losing your dream property.

Ahead of applying for your loan it is crucial that you get all your affairs in order so that your application will go through as seamlessly as possible when you find that perfect property.

An ID check will be one of the first things any lender will perform, so make sure you obtain a copy of your driver’s licence or birth certificate and also have at hand copies of your Medicare Card,utilities bills or tax assessment notices as proof of identity.  Proof of saving and income will also need to be provided so that the lender can assess whether you have the means to service your home loan debt.

In addition, your credit record will have a huge impact on getting your loan approved so pay off any arrears or outstanding bills that have crept in before you approach a lender.

Your lender will require you to provide information regarding any current liabilities so get a hold of any HECS statements, credit card statements or other loan documentation you still owe. You will also have to detail what your monthly expenses are, so take the time to calculate your expenses including what your rent, council rates and weekly travel costs amount to.We are well geared to help you with every step of the home buying process – from identifying the best loan products, through to making an application.

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