Liberty Reveals How Borrowers Can Boost Their Chances of Home Loan Approval

Home Loan

Getting a home loan application right the first time is crucial, and non-bank lender Liberty says there are simple steps borrowers can take to boost their chance of success.

As a leader in the Australian mortgage space, Liberty works closely with those seeking home loans and understands the challenges faced by many. 

When it comes to submitting applications, the fast-growing lender says laying the groundwork ahead of time can help borrowers put their best foot forward.

According to Liberty's Head of Communications Heidi Armstrong, borrowers taking the time to assess and understand their financial situation is a smart first step.

"Reviewing credit scores and borrowing power is a great way for borrowers to gain an indication of their options," she said.

Those with multiple, smaller debts may also benefit from looking into debt consolidation. Rolling multiple debts into one repayment can lead some lenders to look more favourably at an application.

In addition, paying off credit card debt and cancelling unused cards before applying for a home loan can be a good move. Even if nothing is currently owed, some lenders may consider the total card limit in their assessment.

It's important to keep in mind that each lender will have its own application process. For example, Liberty takes the time to assess each home loan application individually and chooses to focus on the bigger picture to help more people.

With a variety of home loans available, Liberty can provide tailored solutions designed to help borrowers achieve their homeownership goals.

For self-employed borrowers or those with lower credit scores, the free-thinking non-bank offers a range of solutions tailored to each customer's unique circumstances. 

A home loan is a big financial commitment, and the best place to start is with an expert. With a comprehensive understanding of what lenders look for, a mortgage broker such as a Liberty Adviser can guide borrowers through the application process.

Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial. Liberty Advisers represent Liberty Network Services Pty Ltd ABN 65 151 158 628 Australian Credit Licence 408042, part of the Liberty group.

Heidi Armstrong
Group Manager - Consumer Communications
P: +61 3 8635 8888

Source: Liberty Financial