LOAN PROCESS

There are several steps and processes when applying for a loan and its always nice to know
what is happening with your application. We will keep you informed as to the progress of your
loan when milestones are reached.

Step 1		Make an appointment to meet and discuss your loan requirements

Step 2		Recommendations will be provided for your consideration

Step 3		Once an option has been chosen an application will be taken along with the appropriate 
			supporting documents

Step 4		Loan application is submitted to your chosen lender.

Step 5		Lender will confirm receipt of application and can take anywhere from 24hr To 72hrs to 
			assess your application. In some cases it can take longer depending higher than expected 
			volumes or if Lenders mortgage Insurance is required.

Step 6		Conditional approval is provided and valuation ordered. Valuations usually  Takes 3 business days
			to be completed but sometimes there are delays obtaining quick access to a property.

Step 7		Once valuation is returned to the lender they will confirm whether or not it is acceptable and if so will issue the
			unconditional approval.

Step 8		Loan documents including Letter of Offer and Mortgage documents will be issued and mailed directly to the borrower

Step 9		Documents are to be signed in accordance with the banks instructions and Returned as quickly as possible. 
			It is always recommended that you seek Independent legal advice when signing legal documents.

Step 10		Documents are checked and confirmed when loan is ready for settlement

Step 11		Your solicitor can then book the settlement with the bank and other Interested parties

Step 12		Settlement occurs and your loan commences.