Browse Forums Home Finance Re: waiting and very nervous for loan approval 4Sep 24, 2009 12:04 pm I feel you pain! I was in your shoes about a week ago. I had to provide my citizenship papers for FHOG but not for loan approval. And yes, our broker said to us that whenever they request something else from us (updated bank statements in our case), the application goes "to the bottom of the pile" but Westpac were still really fast. Have you had your valuation yet? Re: waiting and very nervous for loan approval 5Sep 24, 2009 3:44 pm I would guess they want proof that you are eligible for the FHOG so they can include that in your deposit. Still it's a joke that they would put your application to the bottom of the pile just for one piece of documentation. Next they'll wait for a month and tell you that your payslips are more than 1 month old, and they need new copies. Luckily our bank (ANZ) was pretty good with these things - I suspect my broker has inside contacts. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: waiting and very nervous for loan approval 6Sep 24, 2009 4:01 pm Citizenship is not required for obtaining a home loan in Australia or indeed qualifying for the First home Owners Grant, so I assume it was required by the lender or your broker is not familiar with the requirements. Re: waiting and very nervous for loan approval 8Sep 27, 2009 3:59 pm And you have to meet all the other qualifying criteria to be eligible for FHOG. Hi Helyn. Re: waiting and very nervous for loan approval 11Oct 08, 2009 1:13 pm Hi Harper Your broker should have known this about keystart and that they require you to be either an australian citizen or a permenant resident to take a loan out. An Australian Drivers licence doesn't prove you are a citizen or a permenant resident hence they would have to ask for more ID. Hearing that keystart are improving though and it shouldn't be another 2 months before they pick your file up again. good luck Re: waiting and very nervous for loan approval 12Oct 08, 2009 1:25 pm Harper ive been waiting a while for formal approval with keystart, on tuesday my broker called to tell me keystart where assesing our loan that day , i was so happy, we would know either way! then she called saying they wanted proof we where aussie citizens, she said she had never heard of keystart asking this before, and as my id i had given was sufficent without birth certificates i didnt put them in, so yesterday i raced around getting my partner and i's certificate, faxed them to broker, she said now my application will go to the bottom of the pile and we have to wait again, im so angry that we just about knew and now we have to go to the bottom, they didnt ask my broker for any other info we needed so maybe this is good news? settlement due on weekend, now i have to get an extension, arhhhhh. Well I had 3 extensions before finally getting my approval. And your broker should know better on its requirements. Not only that, there are new requirements that Keystart implemented. I tried putting the file here but failed. Look at Keystart homepage its there and who is affected. I dont think the broker will tell you everything. And can I ask you, do you have your land and building contract ? The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19096 Hi - thanks for your reply. Yes I think 'Ill go for whitish with very speckly bits rather than pure white something like this. PS was actually 2008 I built the… 2 11692 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35321 |