Potential bottlenecks with home loan applications can be avoided if buyers are assisted through the approval process, according to leading mortgage broker Loan Market.

Loan Market Sunshine Coast broker Lindy Kelly said banks and other home finance providers had been busier due to the rush of people taking up the boosted First Home Buyers Grant.

But she said the increased workload for lenders had not jeopardised residential real estate transactions.

“Loan Market has been working with individual lenders to ensure that there is a process in place for the escalation and fast-tracking of urgent loan applications,” Ms Kelly said.

“This has helped to ease any potential problems with processing times and allowed brokers to properly service clients who require urgent assistance, such as those intending to bid at an auction.”

Maroochydore-based Ms Kelly said people intending to purchase a home needed the right information and an experienced mortgage broker was best placed to steer them through the home finance hoops.

“We are still having loans approved and settlements met without the need for any extensions,” Ms Kelly said.

“We ensure applications are managed in the correct way with the right home loan solution for our clients.

“If people purchasing are receiving the right information in the first place and have their lending put together properly there should not be any delays.

“An awareness of each lenders products and capabilities is also highly beneficial to ensuring there are no problems with the approvals process.”

Ms Kelly said in response to banks reducing loan to value ratios (LVRS), Loan Market had introduced a home loan deposit savings program.

“We can run either a 12 week or 24 week savings program, depending on your current position and the size of the deposit you want to aim for,” she said.

“We believe if you follow this plan it will enable you to save the money needed to obtain a home loan deposit and break free from the rental cycle.”