Your loan process at a glance

Your loan process at a glance

June 19, 2015
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1. Enquiry And Your Application

A loan application can be lodged with the lender once your lending manager or mortgage broker interviews and understand your needs, then helps you to find a suitable product. They will help to prepare an application for submission to the lender.

2. Approval In Principal

Once the lender has received all the necessary information, you would normally receive an approval in principal within 48 hours.

3. Property Valuation

Your lending manager or your mortgage broker valuation of the security property. You will need to satisfy any conditions that are attached to the loan pre-approval.

4. Formal Approval

Once all conditions are met, the lender will formally approve the loan application. Their solicitor will be instructed to prepare the loan contract documents.

5. Loan Contract Documents

The lender’s solicitors will prepare your mortgage documents and mail them to you. The documents will clearly indicate all the fees and charges, your repayment amount and how the funds will be disbursed on settlement.

6. Settlement Of Your Property

Your loan is drawn down on the day of the settlement and is in place from this time.

7. After Settlement

Depending on the product that you have chosen, you may be provided with an ATM or credit card, your online and phone access code.

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Copyright © 2018 J.A.S.Q Investment Pty Ltd ACN 082 508 049 t/a Mortgage Zone. Australian Credit Licence Number 456786
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