Banks and mortgage lenders are constantly making changes to their lending criteria. Many people have perfect lending records, having never missed a payment, yet are surprised when they apply for a new mortgage that they only receive approval for a lesser amount than they had on their previous mortgage. Many people wishing to upgrade to a larger home, move to a new town for work purposes or even downsize for retirement, sell their existing home first only to find that they are unable to obtain a sufficient mortgage for their next home. This one simple check will save you being caught out. www.brendanhoman.com.au

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