Borrowers now have a convenient way to access their pre-approved limit.
When we assess applications, we will usually offer a pre-approved limit that is larger than what was requested.
Essentially, this amount is the the maximum we can lend you based on the current stage of the property's sale status.
As the property progresses through the sale, we can offer the seller more.
Often, sellers who initially just need advertising funding have then needed funding for pre-sale improvements, deposits, building & pest report fixes and even temporary accommodation.
Up until now, agents and sellers have requested further funding manually.
On the loan details page (accessed through the portal or from a statement email), click on the Request Funds button. This will open a form to request additional funds.
We'll then process your request, and prepare a drawdown agreement for you to sign. Often you'll receive funds within hours.
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