8 Simple Steps
Contacting your Credit Adviser with the initial enquiry
This is the first contact with your Credit Adviser. He or she will ask some general questions to establish your suitability, explain the process and provide a listing of information you will need to provide. An appointment will be normally set up at this time.
Appointment occurs and application is taken
The appointment can be in our office or at a place and time that suits you. Lending options are discussed and chosen with paperwork completed.
Lodging the application
Your Credit Adviser will prepare your application for submission to the lender.
Lender comes back with a decision
One of our team members will make contact with you to advise your loan has been conditionally approved. At this stage the lender may defer their decision pending some furthere information. (e.g. valuation, extra bank statements, etc.) This normally takes another week.
We will contact you when the lender has formally approved your loan. This normally takes another week. This means that there are no conditions other than signing the loan contract. A letter will be sent to you to confirm the approval. We can also forward this to your Real Estate Agent and Settlement Agent on your behalf.
The lender or its solicitor will prepare the loan contract and mortgages for you to sign. If you would like assistance to sign these, please contact us.
Once your contract has been returned to the lender, they will be checked to ensure everything is in order prior to settlement. At this stage, your settlement agent will then call the lender to book your settlement. Once your settlement has gone through, we will contact you to confirm settlement.
Please do not hesitate to contact us at any stage after the settlement of your loan. We are always more than happy to help you or your family and friends with any queries you may have.
Note: Certificate of Currency
Prior to settlement, your lender will require building the insurance of the properties that you are using as security – your insurance certificate will need to note your particular Lender as the mortgagee.
Note: First Home Owners Grant
If you qualify for the First Home Owners Grant, your Credit Adviser will take your application at the time of interview. These funds will become part of your settlement proceeds.
If you are using an existing property as a security with another lender then we will need a Discharge of Mortgage Form completed.