Recently we advised that The Real Estate Institute of Western Australia (REIWA) changed the ‘subject to finance clause’ in its standard contract for sale of land to enable customers to elect to make a finance application to either a lender or mortgage broker where a sale is subject to finance.
The MFAA has developed some guidelines if you are requested to complete and send a Notification in Relation to Finance Approval Clause from Buyer’s Mortgage Broker (the Notification) in the following circumstances:
Ultimately it is your choice if you choose to complete the notification.
To view our guidelines, please refer to this resource on the MFAA Learning Hub in the Compliance Resources tile at https://learn.mfaa.com.au/. Your MFAA member number will be required.
Any questions regarding these guidelines can be emailed to ua.moc.aafm@ecnailpmoc.
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