Tips

Loan Application Process

STEP 1
We receive loan application and supporting documentation.
STEP 2
We compile and submit your application to the lender.
STEP 3
Lender performs credit reference check and other basic checks
STEP 4
Conditional Approval
STEP 5
Valuation is received & conditions of approval are met.
STEP 6
Unconditional Approval
STEP 7
The Lender or their solicitors send mortgage documents to you.
STEP 8
You return documents with an insurance certificate of currency.
STEP 9
Settlement is booked between the lenders solicitors and your solicitors.
STEP 10
SETTLEMENT

Base on working days. To be used as a guide only, as an indication of typical lender service standards. Add 1-2 weeks for settlement process if a re-finance. In the event of lenders mortgage insurance (LMI) add one day.

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Pre-Approved loans

A loan pre-approval is written confirmation that a lender has reviewed you and your current financial position and is prepared to lend you money up to the pre-approved loan amount.

First Home Buyers – Family Assistance

The family could provide a gift of money to the purchaser. If it isn’t to be treated as a repayable loan by the bank, then the family member giving the gift will need to provide a statutory declaration signed by a Justice of the Peace.