All Topics / Finance / unconditional approval

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  • Profile photo of Watson01Watson01
    Member
    @watson01
    Join Date: 2007
    Post Count: 5
    February 2, 2010 - 1:30 pm

    Hi just a question the the mortgage brokers on here.

    Can a bank ask for ato’s after they have given you an unconditional approval?
    I have applied for finance- full doc loan at 95% and was approved a couple of weeks ago.
    Today I get a call from my mortgage broker to say that the bank is doing a major audit and may ask for ato’s.
    Can they do that, or is the mortgage broker just trying to scare me into settling faster, so that she can make target?

    Thanks

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 2, 2010 - 7:40 pm

    Very unlike the lender ask for additional documentation after they have given unconditional approval and issued their loan documentation.

    If of course the Letter of Offer has not been issued then Yes they can ask for everything and often do.

    Richard Taylor | Australia's leading private lender

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