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Pre-Approvals can cause your Finance Application to be Declined

May 2, 2017 in Insider Tips, Latest News by admin  |  Comments Off on Pre-Approvals can cause your Finance Application to be Declined

fingerprintMany potential borrowers believe that seeking a “Pre-Approval” from several Banks will be beneficial however most potential borrowers are not aware that these Pre-Approvals can result in their application for finance being Declined by the Banks.

WHY  ???

  1. Every time you apply for a “Pre-Approval” a “Credit Enquiry” (fingerprint) is recorded on your Credit Report even if you do not proceed with the finance
  2. Many Banks will automatically decline your Application for Finance if you have 3 or more “fingerprints” recorded on their credit report within the last 6 – 12 months
  3. DPF Mortgage Specialists can discuss your “Pre-Approval” directly with the Bank’s decision makers without leaving any fingerprints on your credit report
  4. DPF Mortgage Specialists have maintained an approval strike rate of over 99% of all finance applications lodged over the last 5 years
  5. A Pre-Approval from a Bank is not a guarantee that your application for finance will be approved, but rather this is a basic review by the Bank’s computer scoring system known as an “Approval in Principle”.

If you, your family or friends are seeking Finance Approval or Pre-Approval please call or click on “CONTACT US” & we will be more than pleased to assist you.

Posted in Insider Tips, Latest News.