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Home loans approved 'conditionally ' has yours been rejected after this point?

Ive aplied for a home loan and my bank lady has approved it 'conditionally ' but said it wont be approved 'unconditional ' untill it passes the people above her. She has warned me its going to be tight. Does anyone have experience with this getting approved/not approved in a similar situation? Its going to be a long 5 day wait...


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Answers (6)

I know plenty of people that have been rejected after being conditonally approved, sorry that it's probably not what you want to hear. Good luck!

OP Thanks for your reply
Id rather not get my hopes up so i guess its looking grimm.

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 good luck1
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Did you use a broker? They are pretty good at making sure you get over the line

OP Yes we did but our bank was actually the better option. Thanks for replying!
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 If your bank rejects your loan go back to the broker. They can try lots of different banks for you
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I hear you we are going through something similar and we totally got fu***d up by mortage brokers 😕 So we stuck with our bank and I called today to see if how things are progessing and they told me that its gone to the insurers to see what sort of risk we are....We should know by Tuesday 😳 Good luck OP x

OP Good luck to you too!
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 What a stressful, anxious wait to have! 😱
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 An anxious wait... 2 years ago however.
Update op? Did u get unconditional approval?

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it's usually mortgage insurance that declines. we were conditionally approved but then the gfc hit and insurance brokers became panicked and we were declined (approved for $600,000 applying for $320,000). Got an approved loan with a week later with a different insurance firm.

We didn't have ours rejected but they came up with all these other docs we had to provide and they wanted my husbands hecs debt paid out. Luckily we were able too as this may have been a deal breaker

OP The waiting really sucks 😕 we dont have any dept its that im on maternity leave atm so technically a 1 income family for the moment..
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 If you are getting any type of maternity leave some banks will accept it as a wage. When i was on maternity leave we tried CBA but they wouldnt take my mat leave pay into considerstion but ME Bank would so we went with them. Shop around if you need too
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 ME bank is the best! We r through them too! We had bad debt from when we were younger that was paid out and ANZ wouldnt have a bar of us. But ME Bank to the rescue and they just wanted to know why we had gotten the debt. We sent an email saying we were young and stupid and they were fine with that reason! They r so helpful with everything!
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We got a loan when i was on maternity leave with 1 income. My centrelink payments, though not much, still contributed to our income

 Sorry that was a reply to the OP reply above
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OP This is the part that really sucks, next financial year i will be getting centerlink however right now im technically not and my mat leave pay has finished
So the only wage they will take into account is my husbands. If i went for this same loan in like 6wks it wouldnt be an issue but obviously im on time restrictions with the settlement dates 😕

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