Keep your finances steady during the mortgage process

Between pre-approval and final approval, a bank may review your finances again before it releases funds for the transfer. Changes made in that window can complicate the process: a new car loan, a fresh credit card, large transfers that are hard to explain or, where you have a choice, a change of employer. None of these is unusual on its own, but each may lead the bank to ask new questions at a sensitive moment. Treat the weeks until transfer day as a quiet period. Postpone new borrowing, keep salary and savings in the accounts the bank already knows, and keep records of any large movement. If something changes that you cannot control, such as a new job offer, tell the bank promptly rather than letting it surface later. Prepared by Masterpiece Property.