 |
 |
 |
 |
 |
 |
 |
|||
|
|
The Application Process Loan Lodgement Once the Application From has been completed with all neccessary documentation, the loan can be lodged with the lender for assessment. Pre Approval The lender will notify us as soon as the loan has been given pre approval together with any conditions of the approval. The valuation will be ordered if the security property is known. Full Approval Once all conditions of the pre approval have been satisfied, the full approval will be issued. The lender’s solicitors will then be instructed to draw up the necessary loan documentation. Loan Documents The loan documents will need to be signed and returned to the solicitors (a return envelope is usually provided) together with a certificate of insurance, sometimes called a certificate of currency. The certificate of insurance company needs to state the lender as the mortgagee and some lenders require your building to be insured for specific amount. Once the solicitor receives this together with your loan documents your loan is now ready for settlement. Loan Settlement The lenders solicitor will then check the loan documents and certify them ready for settlement. They will then contact your conveyancer (sometimes referred to as land broker) and book in settlement. On the day of settlement you now have a new property. If refinancing, you will now have access to the funds. |
Apply
Online