Start the handover mortgage talk early

Many off-plan buyers plan to finance the balance at completion. Whether that works depends on the bank's view at that point, not only on today's conversation. A bank will look at its policy on the project, the valuation at completion and your position then, including your age and income. Starting the discussion late can leave little room if the answers differ from your plan. Speak to two or three banks well before the anticipated handover, ideally a year ahead, and ask what they would need from you and from the project. Note any change you expect in your job or income before that date. Keep a savings plan B in case the amount offered is lower than you hoped. No bank can confirm today what it will approve later. Prepared by Masterpiece Property. AI-generated illustration, not a photograph of an actual property or project.