Understand pre-approval and finance processes

Whether you have an existing home loan or need to secure a new loan, it's always a good idea to get expert financial advice from a financial advisor or mortgage broker.
Your mortgage broker will help you to compare loans and guide you through all of your possible home loan features, with things like top ups, redraw facilities and offset accounts. They will speak the loans language and help work out what's right for you and your situation.

As you're looking for a subsequent home to grow into, it's likely that you're familiar with the pre-approval process already! Put simply, pre-approval is when the bank or lender conditionally approves an amount that they will lend you to purchase a new home, when you find the right property. You'll need to provide proof of income, past tax returns, proof of your savings history and other documents required by lenders. Your mortgage broker will have your documents assessed, and if successful, at the end of the process you'll receive pre-approval.
Key tips:

• Compare available mortgages
• Speak to a financial expert
• Have your documents assessed
• Get pre-approval
• Let the search begin!