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Home  >  The Four Simple Steps to Obtaining a Mortgage

Application


You can apply online, over the phone or make an appointment for your home loan with us. We'll discuss all the options so you can select which home loan is right for you. Once, we've worked out your needs and have your details we can usually provide a decision on your application within 24 hours. According to company policy, we’ll talk you through all the fees and charges involved and set up your home loan repayments. We’ll explain the next steps of the home loan application process and answer any other questions that you may have.

WHAT THINGS YOU’LL REQUIRE

A few things you need for Application process such as:

  • Proof of your identity and photographic identification, such as your driver’s licence or passport
  • Proof of your income such as
    • 2 payslips if you are regularly employed.
    • Current Financial Statements if you are self-employed.
    • a letter from your real estate agent if you are receiving rental income
  • A record of what you owe, like credit cards or personal loans you may have.
  • monthly expenses
CONDITIONAL APPROVAL

An indication of approval is subject to verification of the information you provided on your application. At this stage, we will also tell you which documents we need to complete the formal assessment of your loan application.

UNCONDITIONAL APPROVAL

Once your loan is approved, we will make you an offer by providing you with your loan documents. In some cases you may receive your loan documents on the same day as your interview. You’ll need to read, sign and return these so we can take the next steps towards your settlement.

Subject to verification of your information, property valuation (if required) and final approval of your application, we will send you an official Letter of Offer.

SETTLEMENT

The settlement process is when we meet with the seller's and your legal and banking representatives to finalise the purchase or refinance for you.

Once your loan has settled on that day, at an agreed time and place company:

  • your lender will call you to confirm settlement is complete and confirm your loan details
  • stamp duty and registration costs will be charged
  • we'll send you a home loan statement and letter with information to help you manage your loan
  • Your title deeds and mortgages will be registered at the Land Titles Office
  • You will get the keys to your new home

After settlement we draw down your loan. Loan drawdown is when we debit your loan account with the amount we’ve paid at settlement, plus any additional fees and charges.

IF YOU'RE REFINANCING AN EXISTING LOAN

We'll organise settlement with the other bank (or solicitor if you’re using one) to discharge your mortgage, payout your loan and get the title. Once settlement is complete we’ll draw down your loan and you’re ready to go.

IF YOU'RE BUYING A NEW HOME

Your solicitor or conveyancer will handle settlement for you. They'll let us know the settlement date and location so we can provide the funds and take possession of the title.

On settlement day, your solicitor or conveyancer will let you know if settlement was successful and when you can collect the keys for your new home.

We'll draw down your loan and you’re ready to go.

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