Good Ideas Man - Home Loans that Work

Steps in the Loan Process

This outline is intended to briefly explain the process involved in applying for and obtaining mortgage finance. Should you require more information please do not hesitate in contacting your consultant.
Peter Mullane
on 0405 153 090

Initial Appointment
Needs analysis and loan type determined.
Borrowing capacity and loan amount calculated.

Comparison Letter
Estimate costs and comparison of products (incl. real interest calc.) sent/faxed/e-mailed to client

Client Decision
Client questions answered. Client selects loan facility. Advised of documentation required.

2nd Appointment
Lender application completed and signed by all applicants. Documentation collected..

Application Lodged
Application immediately faxed to lender. Receipt confirmed with lender.

Approval or Request for Further Info
lender approves loan verbally or requests additioal information if required.

Approval in Principle
Written approval in principle received including conditions of approval.

Valuation Completed
Lenders valuer completes valuation of security.
Report compiled & returned to lender.

Unconditional Approval
When all conditions of loan, including valuation, completed an unconditional approval is sent.

Terms & Conditions
Lenders solicitor prepares 'terms & conditions' letter and sends to client. Includes loan details.

Sign & Return Documents
Client signs & returns terms & conditions (the mortgage). Legal advice recommended.

Settlement
Security title exchanged for loan funds. All bank & Govt. fees need to be paid prior to settlement

Contact Peter on 0405 153 090 or 9943 5533
or Email me on Peter@GIM.com.au