Is it starting to feel like you don't have any more statements, payslips or information to give? Let's break down why we ask for lots and lots of paperwork upfront.
We do what we can to get as much information upfront as we believe slow is fast because ultimately have one chance to make the best first impression possible with the bank.
But what we find is that in doing so we speed up the approval process as it cuts down on the questions the bank has and allows us to get a quicker approval.
We try to get more information upfront to avoid getting into a 'missing information loop' with the bank where they ask for info > we give them more info > then they ask for more info based on the information provided.
So while it might feel like we are asking for lots and lots of things up front, it will ultimately help you get your loan approved faster.
Why are you asking for more information after the loan application has been submitted?
Once your information is submitted to the bank, it gets picked up by a human assessor - and while we follow the checklists the banks provide with what information they require (statements, payslips, and other documents) this individual assessor may decide to improvise and ask for additional information that isn't on the checklist.
To get the loan approved we may need to get back in touch with you during the loan process and ask for more information. Don't worry this is completely normal and sometimes part of the process.