Disaster Averted!

Meet Angel, Isaac and their son Hudson.
Dm consult successfully assisted this family with their first home purchase some time ago. For their second purchase however, they decided to apply independently and contacted their bank directly.
The bank obliged and indicated to the family what they could borrow.
Based on this feedback, they sold their house unconditionally, and placed a conditional offer on another property.
They were then told by their bank that they could no longer borrow the amount needed to purchase this property….
As you can imagine this put them in a spin! They listened to some family advice and decided to come and have a chat to Darrin.
Darrin took their application to establish what their maximum borrowing capacity could be. After reviewing all their information and putting together a solid submission to the bank, Darrin was able to successfully receive a pre-approval for the family. Unfortunately, this pre-approval was slightly less that what Isaac and Angel had been told by the bank they could borrow, so they couldn’t purchase the house they had a contract on.
However, what this formal conditional approval gave them was a budget they could purchase up to. After some successful viewings and making an offer, they are now very happy owning their new property.
So the moral of this story is:
1. Always go back to your adviser to discuss finance options regardless of whether are on your 1st, 2nd, 3rd or 4th property.
2. If you speak to the bank directly always ask for a formal conditional approval so you know what finance is available.
Congratulations for the purchase of your second property and thank you for giving me the opportunity to assist you again.
About us

dm consult mortgages + insurance was established off the back of “doing the right thing” by the clients. We help you by establishing what your financial situation is, what you require, and how we can help you achieve this. Based on our findings, we act on your behalf to approach lenders to attain your goal of property ownership (mortgage), business finance, refinancing from your current bank, refixing your mortgage, top ups to your current lending for smaller loans...


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