In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Unconditional approval
An unconditional approval means that a lender has taken the time to formally review all your paperwork with your signed loan application and decided that the borrower meets all criteria necessary to offer you a home loan based on the property you have chosen to buy.
Without any further conditions left to satisfy, your lender will send a formal letter stating that you have unconditional loan approval. It is a significant milestone in the loan approval process, as it indicates that the borrower has successfully passed the lender's due diligence and is on track to receive the loan.
After receiving unconditional approval, it is extremely rare that your house loan will be denied. However, it is still possible, and the terms and conditions of the loan approval will normally state so.
Learn MoreThe bank will give you your contract documents, which you must read, sign, and return once your house loan has been unconditionally granted. The contract documentation will then be verified by the bank, and settlement will be scheduled.
Learn MoreAn unconditional contract is one in which the sale is made without any terms attached. This means that once a buyer signs a contract, he or she has no recourse to cancel it and must proceed to complete the transaction.
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