Wednesday 22 May 2013

Banks Tightening Up

I've said it before and will say it again. lending policies are tightening up at the major banks.

This month I have processed several mortgages for self employed clients.

The banks have asked for NOAs for several years but now they are asking for T1 Generals on most deals.  As a Broker, I have experience handling these deals and I make sure up front to ask for the correct documents to be available anticipating the Lenders request.

The good news is that we are having very little difficulty getting these deals done once the paperwork is in process.

What next, hang tight to find out and remember what I always say.  Its never been a more important time to have a Mortgage Broker relationship.

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