How to accelerate your finance approval

Knowing how long it takes to get a loan approved is depended on many factors. Every application is unique, so the time between your first contact with your bank or broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along.

If you’re not prepared, it could take up to a month. The most common reason for a delay is a lender’s turnaround time to assessment, especially when some lenders have competitive offerings and experience larger application volumes, but a lack of preparation can cause this delay to snowball. 

A good finance broker like Lending Partner will help you take all the necessary steps to ensure fast home loan approval, but there are simple ways you can help hurry the process along before your first meeting with your broker.

Here are some quick tips for the same:

  • Have your paperwork ready
  • Get pre-approval
  • Reduce your expenses and debts
  • Consider talking to a professional
  • Sign and return any forms as quickly as possible
  • Know your credit score.
  • Do your research
  • Employ good financial habits early
  • A correct and complete application form

Expert tips for getting a Business Loan

Securing a business loan in Australia isn’t necessarily difficult but knowing how to navigate your way can be the key between success and failure.

Before you apply for a business loan, there are things you can do to improve your chance of success. Learn about preparing a business plan, checking your finances, and deciding on the best type of loan for your business.

Banks and other financial institutions offer a wide range of business finance options, from commercial property loans, commercial vehicle leases, and commercial and equipment leases, to simpler options such as letters of credit, overdrafts and lines of credit. Here are some tips from Lending partners on how to improve your chances of success.

  • Understand your finances
  • Work out what is realistic
  • Prepare your business plan
  • Have a credit history and make it good
  • Actively show how risk will be minimized
  • Know your financial limits
  • Provide more than one exit strategy
  • Choose the right loan type for your business
  • Get your paperwork ready
  • Check who you’re dealing with
  • Get expert/consultant advice

Refer to this government information for better understanding

Pieces of advice for buying an investment property

In order to grow your long-term wealth, Buying an investment property is an excellent option. It can also offer some tax benefits. But as with any investment, buying real estate comes with its fair share of risk. Here are some useful tips for setting yourself up for property investment success.


Know how much you can afford to borrow before starting your property search. Besides fortnightly or monthly mortgage repayments, consider upfront costs including stamp duty, legal costs, and immediate property improvements. Also consider any ongoing expenses such as property maintenance, rates, utilities, property management, and insurance.


Get a clear understanding of your financial goals before you commit to buying a new property. Are you looking to secure an income to support you during retirement? Or do you want to fund your children’s education? Or to offset tax? Whatever it is, create a plan to achieve it and regularly review your situation compared with the current market.


Good research is the key to a smart investment. Find out what types of properties are in demand in the area you’re looking for. Research the rental demand and trends in the area by talking to property managers or buyer’s advocates or by searching real estate sites. And find out whether new developments or infrastructure are planned for the area.


Location matters the most when it comes to real estate. Look for properties close to public transport, schools, shops, cafes, gyms, hospitals, and other amenities. Not only will these improve the property’s rental appeal, but they’ll also make it more likely to experience strong long-term growth.


If you’re buying an older property, it’s advisable to get a building and pest inspection before you sign the contract. The last thing you want is to discover that your new property is termite-ridden or in need of expensive structural repairs a few months down the track, leaving you thousands out of pocket.


A 1 coat of paint and new flooring in neutral tones can transform the look. Old properties often don’t come equipped with air-conditioning and energy-efficient heating so these can be good valued-adds, too. Make sure the property is looking impeccable by doing a deep clean, fixing anything that needs repairing, and tidying up the garden. These updates will attract better tenants and higher rents.


There are hundreds of home loans to choose from, and it’s vital that you find the best loan for your needs and situation. Enlisting the support of a qualified mortgage broker like The Lending Partner can take the stress and guesswork out of getting a home loan.


Things to consider when purchasing used equipment

With the increasing shortage of new vehicles and equipment, the second-hand market for many items has inflated by around 25% over the past year. This boom is being compounded by high commodity prices and long wait times for new equipment deliveries.

Keeping this in mind, buyers should prepare for their secondhand purchases with a thorough checklist, and effective due diligence process, and the best equipment financing options. Let’s discuss these important steps.

1. Second-hand asset checklist

It is really challenging to find the right used machinery with satisfactory working conditions particularly if the buyer isn’t familiar with conducting the proper inspections.

Here are some important points you should consider including in your checklist before starting your second-hand equipment search

Start the equipment inspection with a condition report, interstate registration transfer, and insurance.

Check the equipment including the tyres, lower body, buckets, and blades.

Ask how the machine was used, where, and in what type of working environment.

Identify any components that appear worn out, or close to being worn out.

Check the hours on the meter for an accurate gauge of how much usage the equipment has had.

Pull the machinery forward a few meters to check it tracks straight.

Get an oil sample and check for metal contamination through oil analysis.

These tips can be used to conduct a basic inspection on any used equipment you buy, however, it is best to have a qualified technician perform the inspection on your behalf if possible.

2. Due diligence

It’s important to remember that the risk of problems with buying second-hand equipment is significantly higher than with buying new.

Here are a few key questions to be addressed through the due diligence process:

How long is the equipment likely to last? 

Is the equipment an exact match for your needs?

Is the seller reputable?

Are there any additional removal and shipping charges?

When conducting private sales, a little diligence can go a long way. There will always be some risk involved with purchasing second-hand, and these risks grow with the list of former owners. However, being aware of these risks is paramount to effective planning and mitigation.

3. The benefits of equipment financing

Business owners have a number of equipment finance options available which allow them to pay off second-hand assets over time, as opposed to full payment at the time of purchase:

Finance lease 

Commercial hire-purchase

Specific security agreement (formerly a chattel mortgage)

These are some of the finance options available, but finding a suitable finance option doesn’t have to be complicated. A broker can help simplify the process and find you the best finance option and lender, depending on the equipment you are buying and what it’s being used for.


Should I refinance my home loan?

Refinancing simply means securing a new home loan that repays and replaces your existing one.

You may consider refinancing your mortgage to lock in a lower interest rate or take advantage of better loan terms or features such as a redraw facility or flexible rates. You may want to access home equity to invest in properties, shares, or a managed fund. Or you may be looking to consolidate debt into a single payment.

Refinancing can be a good option for many homeowners, But remember, it’s not right for everyone. Here are some reasons you may be keen to refinance and what to consider.


This is the most common reason one chooses to refinance a home loan. And if you’ve had your mortgage for several years, your current lender has probably introduced more competitive products since. You may have found a better deal with another lender.

But while saving money can be an excellent reason to refinance, it’s crucial that you consider more than the interest rate before switching loans. You should also dig down the fees you’ll need to pay for exiting your existing mortgage and signing up for a new one.

A professional mortgage broker like Lending Partners can help you understand the pros and cons of refinancing your loan. They review your current loan structure, income, assets, and financial goals and map them internally. Then they look at other loans from their associated lenders that might offer you a more competitive rate. Once a broker has found suitable products, they’ll also look at the exit and application fees to calculate your total cost saving. Sometimes, you’ll only save a couple of hundred dollars a year, and refinancing might not be worth your while. Other times, your broker may be able to save you around $1,500 a year.

Remember, Sometimes, a mortgage broker can also negotiate a better interest rate with your current lender, without you needing to refinance.


Refinancing your loan with a new lender may mean you need to pay Lender’s Mortgage Insurance (LMI). In this case, refinancing might not be a good move for you. But working with a mortgage broker has its advantages over going straight to an institutional lending bank. A broker will generally have access to a panel of around 20 lenders and can likely negotiate a better deal for you.

A mortgage broker can also help you understand any hidden loan costs and the different loan features that might save you money or help you achieve other financial goals.


Refinancing can be a good option if your credit cards or personal loan interest rates are much higher than your home loan rate. Debt consolidation may lower your monthly repayments, save you interest in the long-term and reduce your financial admin burden.

If you do decide to go down this route, be mindful of not extending the life of your personal loan or credit card to the term of your mortgage.

If you want to refinance to consolidate debt, Team Lening Partner can guide you through every step of this process, providing expert advice and answering all your questions along the way.