Richard Butler Creagh on Property Loan 

Welcome to the Richard Butler property blog. Here we share with you information on how to maximize your chances on how to get your loan approved. Richard Butler Creagh is the founder of Henley Finance and has been in the bridging lending business for many years. Learn more about the factors to consider when picking a mortgage loan below.

Looking for a property to purchase is an exciting time. Choices regarding location, size, number of rooms and local amenities often see house hunters carried away in a deluge of daydreams and anticipation. But, before you get carried away, it’s important to check off the essentials.

First and foremost you need to determine if you’re eligible to borrow money from a lender. Your ability to repay the loan will need to be assessed – you don’t what to find out after you’ve made an offer that your credit history or deposit is not up to scratch.


Arranging finance before finding the perfect property will put you in a good position when it comes time to make an offer. When you do find the house you have always wanted, you can present to the seller and estate agent as a prepared applicant who is serious and reliable. It shows you mean business, and gives them peace of mind that your financing will not fall through.

Sellers are most interested in completing their sale fuss-free and with steadfast funding, and showing that you are capable of both will help put you at the top of a potentially competitive list of applicants. For instance that you find and secure the purchase of a home without having your loan pre-approved by a lender, there are a few pitfalls that you risk running into.

If you don’t have financing to pay for your property, you run the risk of forfeiting your initial 10 percent non-refundable deposit you need to put down to secure the property. This may differ depending on what state you live in, but the point is it always pays to be organized and have pre-approval in place. Saving home loan applications to the last minute also leaves less time to find the most suitable loan and have it approved ahead of settlement.

Arranging to finance as an afterthought also adds immense pressure to the process of shopping around for the right loan and gathering the paperwork to prove you can service the loan. You don’t want to rush this process.

Richard Butler Creagh has been in the bridging lending business for many years. He became involved with this sector through his experiences in buying and selling his own properties. He soon realized that the most important part of this process was to be able to have the availability of good financing. Read more about Richard Butler Creagh in this news article here.  Follow Richard Butler Creagh on Twitter here.