Clifford Gouldson Lawyers

Warning on delays in gaining finance approval

Print Version

4/12/2018

Our Commercial + Property Team have seen an increase in the time required for our clients to obtain finance approvals.

From our discussions with various banks, we understand this is largely due to the banks implementing a change in procedures, following the APRA Inquiry and Royal Commission.

The new procedures require significantly more information/evidence on various matters (including personal expenditure) to be produced and accordingly, more time is required by the bank to analyse that information.

We take pride in giving our clients practical advice and are currently advising to allow more time in purchase contracts to obtain their finance approvals.

LATEST NEWS/EVENTS

New proposal on the table - Director Identification Numbers - 21/03/2019

As part of it's efforts to combat illegal "phoenix" activity, the Federal Government has proposed new legislation that will result in all company directors receiving a unique identification number.... read on

Flexible Working Requests: You can’t say No! - 19/03/2019

Due to recent changes to the Fair Work legislation, it is no longer possible for an employer to simply say “No”, when an employee asks for flexible working arrangements.... read on

Combustible Cladding - first deadline approaching - 15/03/2019

The first deadline in the State Government’s combustible cladding review process is 29 March 2019. ... read on

Read all news/events

Site Developed by FAQ Interactive