Pre-approved loan withdrawn within 24 hours
Property ObserverDecember 7, 2020
This tweet comes with a warning attached about relying on pre-approvals.
The New Zealand Herald reports that an Auckland man, after letter dropping to find a potential property to buy, had his $800,000 pre-approved home loan withdrawn within 24 hours.
He had a $60,000 deposit and the loan was pre-approved on September 3 by the Bank of New Zealand (BNZ).
An Auckland man is furious BNZ withdrew an 800k pre-approved home loan less than 24-hours after giving the OK: https://t.co/vBhmJHqe1H
— nzherald (@nzherald) October 29, 2013