Subject to Finance Clauses
This Special Condition is known as subject to finance clause.
The purchaser can make an application to a mortgage broker.
An application for finance must be made to one institution which is capable of actually lending money, such as a bank or credit union. Application must then also be made to a lender.
Once an application has been made to a lender, the purchaser must be sure to comply with the remainder of the terms of in the subject to finance clause.
If the loan is not approved within 21 days, this matter will be at an end and all deposit except the 0.25% will be refunded.