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Be careful of lodging multiple finance applications, in quick succession, implying that you can’t get finance, or you’re desparate for cash.
What’s more common though are clients who have gone direct to a bank for pre-approval, but then come to us (Long Property) afterwards, either for better service, cheaper interest rates, more money, etc.
In this case, when Long Property then submits a subsequent application, the effect on the borrowers credit score will often be minimal, and the benefits of securing a new pre-approval, which allows the borrower to confidently bid on a property, far outweighs any potential downside.
Enjoy the show!
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
