Endeavour - The Finance Process
When working with the Endeavour team, we like to create an environment that is very different than working directly with a Bank. Rather than completing an application immediately with a Bank and waiting to see what happens, we prequalify each application prior to submitting it with your preferred lender.
The reason we do this is to make sure that the application you submit is completed correctly in full with your preferred lender the first time. With the number of lenders available in the market decreasing due to the financial crises, we like to minimise the number of enquiries on your credit file to assist with your future lending requirements.
Standard Residential Lending
Whether you are buying your first property, upgrading the family home or creating investment portfolio, the lending process is very similar. At first glance all lenders look like they are offering very different products to the market, but essentially they are very much the same. At Endeavour we like to take the time to explain to you how the process works.
We qualify your application prior to submitting it to a lender to make sure that the lender, product and package all suit your individual needs. By using our Flex software we can with the push of a button compare all of our panel lenders products and packages based on your lending requirements. This includes comparing the benefits and fees associated with each option.
Off the Plan Residential lending
As most project marketed properties are at least 12 months from completion, we take an approach of qualifying rather than approving your application at the time of purchase.
Most lenders will only approve an application for a period of three months which can make many prospective purchasers feel uncomfortable. Along with this, the lack of understanding from the bank employee of the off the plan process has in the past effected many a purchasers view of their ability to finance their new purchase.
The finance process at Endeavour Financial Services WA Pty Ltd starts from the initial contract stage, pre qualifying each applicant’s ability to settle on their purchase prior to or just after the contract is signed.
We keep regular contact with you through the development phase via telephone and email to make sure that your situation has not changed.
Six months prior to settlement, we start to arrange a catch up meeting either face to face or via telephone to start the formal approval process. All finance applications are submitted three to five months prior to settlement with approvals in place ready to settle as per the terms of the purchase contract. If an application is submitted prior to this date, we send through an action request with the required supporting documents to convert the approval from an approval in principle to a formal approval.
For further information please contact enquiries@endeavourfs.com.au
