Ready to Apply

We have outlined 5 steps in our application process and you can also watch this video on How to Apply.

  1. Initial Assessment and Eligibility

The first step is to have an initial interview by phone or in person at our Melbourne office. We will try and understand what you need.

Do you want to buy a residential owner occupied house or investment property; or do you want to change your current home loan to us?

We’ll also ask for some personal information like this:

  • Your family size.
  • Assets and liabilities
  • We’ll also ask about income/ employment . Whether you work full time, part time or casual.
  • If you’re self-employed we will ask you about how much income you get from your business you.
  • We’ll also establish how much deposit and total contributions towards stamp duties and other costs you will need to make.
  1. Submission of Application and other supporting documentation

The second step of the application process involves submission of application forms for finance alongside supporting documents.

Supporting documents will vary depending on everyone’s personal circumstances and includes documents to support income, deposit or equity, assets, liabilities such as current mortgages, car loans, credit cards etc.

Once you apply for finance and submit your application, you will need to pay an application fee to start the processing of the application. Generally, after the application fee is paid, our financiers will take 3-5 business days for assessment and to revert with a response on the application.

  1. Outcome of Application

If an application is successful and you have provided all necessary documents and information, a Conditional Approval is provided which will outline how much we are willing to finance.

The Conditional Approval is subject to valuation of the property which you are wanting to buy or refinance.

Remember, the conditional approval is valid for 90 days after which if you still haven’t found a property, you will need to provide updated documents to obtain an extension on the approval. The approval can only be extended once for another 90 days after which a new application must be submitted with updated information and documentation.

  1. Property valuation and Final Approval

If you are refinancing, the valuation on the property is ordered immediately after you are granted a conditional approval.

If you are buying a new property, you will need to find a property within the budgetary requirements, provide a signed Contract of Sale to us and then a valuation will be ordered for the property. Once you have received a conditional approval from us, you are free to attend auctions, private sale arrangements or any other sales platforms, as long as you are making an offer for the property within the limits set out in the conditional approval letter.

The final approval is provided within 3 business days of a successful valuation. Further documentation may be requested from you if required.

  1. Settlement

The 5th and the last stage of the application process is settlement.

After the final approval is granted, our solicitors will prepare and mail out mortgage documents by post to you. If you are purchasing a property, it is at this stage that you will need to obtain independent legal advice by appointing your own conveyancer or lawyer who will assist you in interpreting the mortgage documents, preparing for settlement and ultimately, to settle.

If you are refinancing, you will need to apply for discharge with your current mortgage providers once you receive the mortgage documents by post.