Hey everyone
Is it normal for a big 4 bank not to give any form of offer or approval in writing after they give a verbal confirmation of loan approval (there was no need for a valuation - apparently)? My lender says he will give me a loan offer at the same time as filling out my mortgage documents (3 weeks before settlement) but in the mean time I'm stuck without any physical evidence that I have my loan approved without any strings attached. I'm feeling very uneasy because I've had a friend whose lender pulled out after giving verbal loan approval and I'm afraid that it might happen to me; and now he's stuck with 3 weeks left until settlement to find another bank that will lend. I'm thankfully still 5 weeks out but I want to get this right the first time - what should I do?? My lender is being very difficult and won't give me any confirmation other than saying "yes yes yes it'll be ok"
Thanks!!
Is it normal for a big 4 bank not to give any form of offer or approval in writing after they give a verbal confirmation of loan approval (there was no need for a valuation - apparently)? My lender says he will give me a loan offer at the same time as filling out my mortgage documents (3 weeks before settlement) but in the mean time I'm stuck without any physical evidence that I have my loan approved without any strings attached. I'm feeling very uneasy because I've had a friend whose lender pulled out after giving verbal loan approval and I'm afraid that it might happen to me; and now he's stuck with 3 weeks left until settlement to find another bank that will lend. I'm thankfully still 5 weeks out but I want to get this right the first time - what should I do?? My lender is being very difficult and won't give me any confirmation other than saying "yes yes yes it'll be ok"
Thanks!!