Many clients ask me over the last few months – HAS LENDING BECOME EASIER.

THE ANSWER IS NO!
Rates are historically low, however lenders are requesting more compliance than before. Living expenses have also been adjusted to reflect the current market with several lenders. The assessment of applications are still at a micro level, down to the details on bank statements and employer confirmations
We expect this phenomenon to be around for a period of time

See below:
Several lenders, including NAB and Westpac, have informed brokers of their obligations to assist in meeting their obligations under the new code, which includes the provision of additional documentation to ensure clients are fully aware of the ramifications of the choices they make throughout the home loan application process. 

Lenders turnaround time

In August and September this year, many lenders have increased application volumes and hence turnaround time has increased, if you are thinking of a pre-approval or an urgent settlement, it will be good to do it in advance to prevent any delays. Do not be confused by system generated pre-approvals with those having to be assessed by a case manager/credit officer as this will mean a higher chance on the accuracy on your final formal approval. Please ask me if you have any questions on the loan process.