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The Home Loan Process

The Home Loan Process

Next Steps – what happens after I apply?

Once you’ve completed your home loan application there are still a few things that need to happen before you receive a formal loan agreement and the money to buy your property.

1. Property valuation

The lender will undertake a valuation of the property you’re buying to ensure it’s acceptable as the security for your home loan.

2. Complete the processing of your loan application

Now that we have your property valuation we can complete the processing of your loan. This usually takes 7-10 business days.

3. Loan approval

If your loan application meets our normal lending criteria it will be formally approved.

4. Send the approval to both Real Estate agent and Settlement agent

Once approved the Settlement agent will then start their process of getting the paperwork drafted to change the title into your name for settlement. They will liaise with the broker and bank to ensure that they meet on the day to change the funds over for the new property. This all happens with very little involvement and stress to the buyer.

5. You’ll receive your loan contract and other documents

Your loan documentation is issued to your home address in most cases. It’s a great idea to get into a local branch with your ID and arrange internet banking and setup an account usually for an offset.The loan documentation that you receive will set out the terms and conditions of your loan and are the formal legal agreement between you and the lender.

6. Signing of the loan documents

Once you’re happy with the loan documents you’ll need to sign and your broker can return them to the lender directly. If you have any questions at this point, don’t hesitate to contact us.

7. Settlement

Settlement is when ownership of the property passes from the current owner to you.  Once that’s done you collect the keys.  The exact process and timing of settlement varies so we recommend the help of a solicitor, conveyancer or settlement agent.

8. Move in!


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