Your Credit Adviser will guide your through the process stage by stage as follows;
Stage 1– Appointment with your Credit Adviser. You will be prompted on the documents you need to have on hand at the appointment. You will be provided with a Credit Guide and our Privacy Statement. Usually this appointment will take around one hour.
Stage 2– Where all documents required have been provided to your Credit Adviser a Preliminary Assessment will be conducted on the spot and your Credit Adviser will present you with the results inclusive of loan comparisons and recommendations as well as a Product Disclosure Statement and Our Quote (if any fees are going to apply for our services). You will be required to sign the Preliminary Assessment and Quote if you are happy with the recommendations made by your Credit Advisor.
Stage 3 –Your Credit Adviser will finalise the lender’s application form and email to you to check if all information is correct. You will need to sign in appropriate places and email back to Credit Adviser or arrange pick up or postage with Credit Adviser.
Stage 4– Credit Adviser will lodge application online and upload required supporting documents. Once application accepted by the lender, you will receive call or SMS or email.Upfront property valuation is optional. Valuation usually takes 2-3 days.
Stage 5– Credit assessment by the lender. If Credit Assessor is satisfied with information and documents you have provided, and you met their criteria, then you can be granted Formal Approval (if valuation report received and is satisfactory to the lender). If more information required by the loan assessor, then Conditional Approval may be issued. In both outcomes, you will receive phone call and email from Credit Adviser explaining the current status of your application and conditions to be met prior to Formal Approval. Once Credit assessor receives all previously requested information and the lender is satisfied with everything, then Formal Approval is issued.
Stage 6– When Formal approval issued by the lender;
- Lender’s legal team get instructed.
- Mortgage Documents produced and posted to you. It takes 2-4 business days.
- Some Lenders will email documents to us. We’ll arrange appointment with you to explain terms and conditions in the documents and help you to execute them.
- Executed documents are posted to the lender.
Stage7– Lender receives executed documents and checks them. If they are satisfied with all documents, they commence the settlement booking process.
Stage 8– Settlement booked. You will receive call and email from your Credit Adviser.
Stage 9– Settlement. Once settlement is confirmed to have taken place, your Credit Adviser will email and call you to congratulate on the settlement and thank you for your business.
Stage 10 – Post Settlement. Any refunds due in respect to any brokerage fee paid in advance will be made to you.