Keeping it streamlined and delivering on your property investment deals is key. We thought it beneficial to share ways that you can ensure streamlined approvals and delivery:

1. Be Clear, concise and consistent with information and documentation.

At Portfolios we ask you to complete a Client Portfolio Review with all required information, especially Assets and Liabilities on the second page.

Make sure the quality of the copies are good, noting faxes and ID documentation rarely mix well.

Tell us you whole story, good , bad and not so good,  we need to know.

If you do not know tell us, as we like to ensure you understand and continue your property investment education.

2. Have a your story straight.

Take the time upfront to allow Portfolios to work through and document your property investment strategy and the finer details. This is important to get the process right and the strategy to deliver your plans.

Knowing the fundamentals of your deal after thorough due diligence and then not changing it unless forced to.

If you have a change of plans notify us  as soon as you can as usually we can accomodate your new direction.

3. Send the full set of documentation all at one time.

Just like planning to know your strategy – taking the time to get all the documentation together for then initial submission.

Lenders will not even review a loan that is not 100% complete with documentation. Hence it  will mean less grief when the lenders and stop them putting your deal in the deferred pile.

For over 50% of loans at present the lender is requesting additional documentation after submission, allow for this.

4. Be patient after loan submission.

The current lending climate is full of red tape and delays. Approval delays have improved on this time last year.

You need to understand and appreciate that we chase service levels with lenders and sometimes stick to the ones that deliver consistently in lieu of another.

The team understands your passion and interest in the ‘knowing of loan approval’, its ours as well.

5. You will hear about any update.

Know that as soon as we hear an update we will inform you.

Its exciting when approval comes through – at Portfolios sometimes we get more excited than our clients.

Check your email each day, as any update from a lender would be to us via email which we review and forward to you.

6.Conditional Approval – Formal Approval

Note that currently Conditional Approval is forecast as 3-5 days and Formal Approval is forecast as 10- 14 days.

To settle a refinance (you have cleared funds in your account) and for purchases it takes 5- 6 weeks at present.

This is from loan submission to the lender, 100% complete, ready to purchase your property/ies.

Contacting us with expectations over and above the timeframes may cause you frustration, we ask you to note point 5.

Portfolios works to a program outlined above, we put client service at the top of our priority – we deal with the banks for you and keep you informed.

For example, each and every day, for each loan submitted, Portfolios checks the lender’s website as well as email and phone follow up in some way. The team are well drilled in keeping your loan progressing and pushing your loan through…its in all stakeholders interest.

Its an interesting lending market out there at present. You might need a hand to deliver your plans, Portfolios wants to help Make it Happen.

Maybe something good has come out of the GFC, it appears people are thinking twice about refinancing their home to put on that extension or remodel the kitchen.

Instead statistics are showing that mortgages have swung in favour of people wanting to purchase investment property.

With the winding back of the First Home Owners Grant Scheme and three successive interest rate rises, AFG, Australia’s largest mortgage broker has seen a drop in the number of people financing to either buy their own home or refinancing to improve it.

Whilst the property market on the face of it is continuing to climb and sales are increasing brokers are acutely aware that the market is still a little hesitant following the GFC that dominated the 2009 agenda.

The January figures show that property investors as a proportion of mortgages written continue to hold steady making up 33.7% of all mortgages written the January period.

At Portfolios we believe that it makes economic sense to build your investment in property before being excessive with your own needs. This economic activity has encouraged Portfolios diversification into property sourcing for our clients as the property investment market not only remains strong but continues to grow.

Focussing on investment property finance and sourcing, we have seen a steady increase in activity in property investment both in our business and across the market further backing up these statistics. With Portfolios, our focus is financing for investing in property so you can be sure that leading into 2010 you are will be well placed in the market with us.

At Portfolios we encourage you to review your situation and find out how easy it is to start building your investment property portfolio with us. It is obligation free and could set you on the path to financial freedom.

Simply fill out our Client Portfolio Review and we will call to arrange an appointment over the phone.