Pre-approvals not turned off; Shared equity could be the answer
Tuesday, July 23rd 2024, 2:05PM 
2 Comments
Earlier today we reported four banks had stopped issuing pre-approvals. We have been contacted by a couple of the banks to say that is not so.
ANZ says it "has not paused pre-approvals". Likewise, Westpac says "Westpac hasn’t turned off pre-approvals."
Meanwhile, we have a new story where Deloitte reports shared equity schemes could arrest declining home ownership. [READ ON]
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On 24 July 2024 at 1:32 pm Amused said:
Hi valkyrie. Yes, I have also in the past called the BNZ home loan line myself and been told the same thing.
Looks like there one rule for mortgage advisers and another for BNZ staff if the customer goes direct.
Personally I find it difficult to have a relationship with a lender when the bank in question isn't been honest with us or indeed valuing the adviser channel.
Much rather place my customers and their business elsewhere.
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The same also applies for when BNZ tells mortgage advisers they can’t look at over 80% deals unless they are “live” i.e. not doing preapprovals over 80% either.
This is how BNZ treats mortgage advisers.