Home Loan Process
Getting a home loan can be hard work and stressful.
We've simplified the process to make it as fast, easy and stress-free as possible.
Preliminary enquiry
Would you just like to get an idea if you are in the position to get a home loan and/or what you need to do to get in the right position to get a home loan?
With a preliminary enquiry we will do some preliminary research to let you know if there is a chance you could get a loan or not - the '2. Go, No Go' stage below.
Full Assessment
If you decide that you would like to proceed to a full assessment, we will start the full assessment process by gathering further information and documents that we need.
Once full assessment has been carried out, you'll be provided with lender and product options to select the option that most suits your needs.
We will only submit a loan application for you when we believe you have a strong chance of success.
Stages of the Home Loan Process
1. Discovery Conversation
This is our first conversation. It can be over the phone or via video link and we will get to know each other and understand your current situation and goals. If you'd like to move on to preliminary research, we will send you our credit guide and ask for you to provide your drivers licence and sign our Privacy Consent.
2. Go No Go Converation
After we've carried out our preliminary research we will let you know if there is a chance you could get a loan or not. We will give you a rough lending range to give you a sense of whether you would like to continue with the process or work on ways to improve your lending potential first.
If you would like us to proceed to the next step - finding specific lenders and product options - you'll be asked to send us documents such as payslips, bank statements, IDs and tax returns.
3. Lending Options Meeting
Once we have your documents such as payslips etc, we'll carry out detailed research to match you up with the most competitive loans for which you fit their policy. We'll then present and explain how the difference options would affect you now and into your future, so you'll be able to make a confident decision.
4. application Submitted
Once you have decided on a lender and product, we'll complete your application, ensuring we have everything together that your lender will need. You'll receive a copy of your Credit Proposal and Loan Application for review and signing, and then we will submit your application to the lender for you.
5. Assessment
We follow your application through with the lender, giving your regular updates about when we expect them to pick up your file. You'll always be kept in the loop. The lender may come back to us requiring further information or documentation. We will keep you posted and keep your application moving.
6. Unconditional Approval
Mini-celebration! Your loan has been formally approved! You'll get a formal letter of approval and you can notify your Conveyancer that you are now ready to go unconditional on your contract. The lender will get your loan documents ready and send them out to you.
7. Complete Loan Documents
This is the legal side of the process where you will sign your loan contract, get your Mortgage Documents witnessed by a JP and complete the other documents the lender requires.
8. Settlement
We will liaise with your conveyancer and the lender to help settlement go off as smoothly as possible. Once it has settled, you can celebrate! Time to pick up the keys if you have purchased a property, or sit back and count your savings if you've just refinanced!
9. Post Settlement
Once your loan has settled we will keep in contact with you to ensure that as the dust settles, everything is in order with your new lender. You'll also get a welcome phone call from the lender.
10. Annual Review
Getting the best deal on your loan/s is not just about the one time process. Each year we will do a 'health check' on your loans to make sure you are still getting a competitive rate and that it is still best suited for you. Sometimes this is simply requesting a better interest rate from your lender.