Liberty reveals how borrowers can boost their chances of home loan approval
MELBOURNE, Australia – May 4, 2022 – (Newswire.com)
Getting a good home loan application the first time is crucial, and non-bank lender Liberty says borrowers can take simple steps to increase their chances of success.
As a leader in the Australian mortgage business, Liberty works closely with those looking home loans and understands the challenges many face.
When it comes to submitting applications, the fast-growing lender says laying the groundwork in advance can help borrowers do their best.
According to Liberty’s communications manager, Heidi Armstrong, borrowers taking the time to assess and understand their financial situation is a smart first step.
“Reviewing credit scores and borrowing capacity is a great way for borrowers to get an indication of their options,” she said.
Those with multiple and smaller debts can also benefit from debt consolidation. Consolidating multiple debts into one repayment may cause some lenders to consider an application more favorably.
Also, pay off credit card debt and cancel unused cards before requesting a home loan can be a good shot. Even if nothing is currently due, some lenders may factor the total card limit into their assessment.
It is important to keep in mind that each lender will have its own application process. For example, Liberty takes the time to assess each home loan application individually and chooses to focus on the big picture to help more people.
With a variety of home loans available, Liberty can provide tailored solutions designed to help borrowers achieve their home ownership goals.
For independent borrowers or those with low credit ratings, the free-spirited non-bank offers a range of solutions tailored to each client’s unique situation.
A home loan is a big financial commitment, and the best place to start is with an expert. With a thorough understanding of what lenders are looking for, a mortgage broker such as a Freedom Advisor can guide borrowers through the application process.
Approved candidates only. Lending criteria apply. Taxes and fees are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit License 388133, trading together as Liberty Financial. Liberty Advisers represents Liberty Network Services Pty Ltd ABN 65 151 158 628 Australian Credit License 408042, part of the Liberty Group.
Group Leader – Consumer Communications
Such. : +61 3 8635 8888
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press release department