Myth. Busted. Don’t fall into this trap and have your application assessment delayed
A common misconception is that brokers who lodge an application on behalf of their clients with incomplete or out-of-date supporting documents will get a spot in the queue and have the application partially assessed. The remaining or correct required documents would then be provided at a later time. The idea being that this would save time and get the application assessment completed sooner.
Unfortunately, this isn’t the case.
For many lenders, including Resimac, applications can't begin to be assessed until all required and correct supporting documents are received. All the required document types need to be provided and up-to-date, and the correct number of documents also need to be supplied at time of initial application.
Applications with incomplete or out-of-date documents simply sit in the queue, unassessed, until all the correct documents are received.
Resimac’s tried-and-tested hack to solve this?
Refer to our Supporting Documents Checklist prior to submitting every application. It outlines exactly what documents need to submitted for each application, keeping in mind that every deal is different and we may need additional information during the actual assessment process.
You can read more here.