Funding your next property

I’ve had conversations with several clients recently regarding issues around their mortgage application and approval.

Partly because of matters arising from the Royal Commission into banking & financial services,  banks have shifted their stance and tightened requirements to qualify for a mortgage – even with customers who already had loan approval.

One client recently had the unpleasant experience of their bank withdrawing approval completely for a loan that had previously been approved.

So I’m writing this quick reminder to RealTeam clients, to revisit any existing loan application or loan approval, and confirm with your lender exactly what their position is with regard to your pending loan.


Few things are more disappointing than finding that ‘perfect’ property, then being unable to buy it because the bank has ‘adjusted’ the loan amount downward and lifted the deposit amount upward to a point where the property becomes unaffordable. At least in the short-term.

As a buyers agent, I can’t go looking for property unless the finance arrangements are firmly established.

Call your bank or broker and confirm whether you can still proceed, or will have to adjust your budget.

If you have questions don’t hesitate to reach out to me – I cannot provide financial advice, but may be able to point you to someone who can.

RealTeam - Buyer Agent in Adelaide
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