In recent months, the Australian property market has experienced a sharp uptick in the number of houses going to auction, leaving many buyers rushing to secure a home loan, says Liberty.
MELBOURNE, AUSTRALIA, January 27, 2022 /24-7PressRelease/ — While home loan pre-approval is encouraged, Liberty recognises that this is not always possible – particularly with the rapid nature of the auction market. And, with many homeowners eager to catch up on the spring selling surge, selling at auction will likely remain a popular choice for many months to come.
Just as different lenders offer different interest rates and loan features, lenders’ home loan approval timeframes also vary significantly. Some lenders are taking two to three weeks just to provide customers with a formal home loan approval. This delay means many homebuyer hopefuls are missing out on securing their dream property.
In contrast, Liberty is well recognised within the industry as offering market leading turnaround times. Working in close partnership with mortgage brokers, the non-bank can often provide answers significantly faster, depending on the borrower’s individual circumstances.
Head of Consumer Communications Heidi Armstrong said: “For house hunters in a race against the clock, Liberty’s flexible approach could help them snap up a great deal on auction day.
“Liberty’s fast turnaround times can provide a much smoother process, eliminating the stress that buyers often experience when loan approvals take longer than anticipated.”
With a variety of options available, Liberty can provide tailored home loan solutions designed to help borrowers achieve their homeownership goals. The Liberty Group also offers an extensive range of personal, car, business and commercial loans, as well as insurance and SMSF lending options.
Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.
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