Browse Forums Home Finance 1 Nov 01, 2008 5:41 am Hi ya,
We have a redirection order on all our post. We keep getting letters from Citibank saying that because we are using the post offices redirection service ( all crap) that we have been pre approved for a loan. To my understanding pre approval means that you have been approved and you just say yes I want the money and they give it to you just like I would never embaress myself making an offer on a house without having my pre approval from the bank. Anyway when you open up the application form with the letter you have to fill in your financial details mortgages, any loans you have, credit cards, how much you owe on credit cards etc and send it back to them. So obvisually they are going to access that before leanding you any money. So my question is how can you be pre approved?? Many thanks for your help in advanced! Please excuse my spelling! First home buyer Pre approval 2Nov 01, 2008 2:54 pm amanda26 ..that we have been pre approved for a loan. To my understanding pre approval means that you have been approved So my question is how can you be pre approved?? What you described sounds like you have been pre selected as a potential candidate for a home loan by marketing data mining techniques. They do this by looking for certain variables, such as changing address, new subscription to a mortgage magazine etc and buying customer lists from other organisations. The letter is irrelevant as the blank form gives it away. When you fill in the form and post it then they will assess your application. Without an assessment, you can't be pre approved. Especially for a home loan. Re: What does it mean a letter says you have been pre approved? 3Nov 01, 2008 9:24 pm Thanks for the reply!
Thats what I was thinking I thought it sounded a bit to good to be true that you could get a personal loan up to 70,000 without being formaly approved!! You have mandatory building inspections and privately engaged building inspections. The difference between the two comes down to inspecting the building so it's safe and… 3 18064 The HIA contract, in the term & conditions section states that "Commencment" is deemed when the drainage is started or the piers are dug or the slab is formed up (incase… 2 6177 If your patio is going to be 35 sqm then that's going to need Council Approval. The fact that they previously approved your 25sqm patio will be irelevant 1 5507 |