Friends With Money #125: Getting your first home loan
Gearing up to buy your first home? Chances are you've got a question or two about the process of taking out a mortgage.
On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Daisy Stevens, head of lending operations at digital mortgage broker Finspo, to run through the home loan process for first homeowners They discuss:
- Is reducing spending or paying off debt important?
- How long can the process take?
- What information will borrowers need to provide?
- How do banks work out how much someone can borrow?
- What is pre-approval and how long does it last?
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