Step 1: Commencing Your Home Loan Journey

Embarking on the path to homeownership begins with our initial interview and personalized recommendations. To commence the process, choose the option that best suits your preferences:

1. In-person Appointment: We welcome you to a face-to-face meeting lasting approximately 30 minutes. This session delves into the intricacies of the buying and home loan processes, offering insights into various lenders. While optional, we suggest completing some forms beforehand to enable us to prepare a thorough assessment and recommendations for discussion. This option is particularly beneficial for first-time homebuyers.

2. Phone or Video Appointment: Similar to an in-person meeting, this alternative is more convenient for those pressed for time or located outside of Brisbane.

3. Email Correspondence: Tailored for refinances or experienced buyers, this option allows us to gather initial details and deliver loan recommendations directly to your inbox.

Note: This process is also applicable for pre-approvals until the initial approval stage.

Regardless of your chosen method, whether an in-person appointment or email correspondence, we'll request some basic details and documents to initiate the assessment process.

Documents you may need to provide before the initial assessment is complete:

• Fact Find: Offering insights into your basic income and expense details.

• Privacy Disclosure: Signing our privacy disclosure document.

• Driver's licence or other photo ID.

• Your most recent 2 payslips.

• If self-employed: Your latest 2 years' financials.

In return for your cooperation, we commit to providing you with:

• Loan Recommendations in PDF format.

• Affordability overview.

• Notes highlighting any potential application challenges.

Step 2: Selecting Your Lender and Product

After carefully reviewing and discussing your Loan Recommendations, we're ready to guide you on the next steps with your chosen lender. Should you desire additional recommendations or wish to make any adjustments, please don't hesitate to inform us.

To align with your selected lender, there may be a need to gather additional documents. These could encompass liability statements, bank statements, and extra ID, among others. Concurrently, we'll delve into the finer details of other home loan features that may be of interest to you at this juncture, such as split loans, rate-lock options, and offset accounts. Your preferences are paramount, and we're here to tailor the process to your unique needs.

Step 3: Application Submission

Once we've gathered all the necessary information and documents, we'll furnish you with the lender's application documents for your signature, along with our comprehensive Credit Proposal. This detailed document outlines all pertinent information, including fees, interest rates, and repayment details, presented in a formal PDF format.

Upon receipt of your signed application documents, we'll promptly submit the loan on your behalf. To keep you well-informed, we'll also provide you with a timeline outlining the expected processing duration for the lender's approval process. Expect to receive email updates at each stage from this point onward, ensuring you're kept in the loop throughout the entirety of the process. Your peace of mind is our priority.

Step 4: Lender Home Loan Approval Process

Pre-assessment: Most lenders have a dedicated 'pre-assessment' team that diligently reviews the submission, typically within 24 hours. They ensure all necessary documents are provided and provide an estimated timeframe for the final assessment. If you're not seeking a pre-approval, we'll initiate the valuation process at this stage (free upfront valuations are commonly offered by most banks).

Home Loan Approval: Assuming all progresses smoothly, you can anticipate your approval at this stage, which may take different forms:

• Pre-approval:

  • Issued upon request at the outset.

  • Functions similarly to a conditional approval, contingent on finding a property.

  • Valid for 90 days.

• Conditional approval:

  • Granted when the bank is prepared to approve your loan but requires additional documentation.

  • Conditional upon fulfilling specific requirements (XYZ).

  • Documents requested in the conditional approval should be submitted to the bank within 14 days.

  • If not done earlier, the valuation will be ordered during this phase.

• Formal approval:

  • Represents a fully approved loan with no further conditions.

  • Once you secure formal approval, you can confidently proceed with the unconditional aspect of your contract.

  • Loan contracts will be dispatched within approximately 48 hours.

Should you have received a pre-approval or conditional approval, any outstanding requirements must be promptly addressed. The bank will subsequently reevaluate the application (typically within 48 hours for most banks) and, in most cases, issue a formal approval. Your satisfaction and understanding throughout this crucial phase are of utmost importance to us.

Step 5: Home Loan Contract Signing

Following the attainment of formal approval, your home loan contract will be promptly issued. It's essential to thoroughly review the documents and expedite their return to the bank along with a few additional requirements.

Documents to be returned after approval:

1. Sign the Home Loan Agreement:

   • Typically issued for digital signature by most lenders.

2. Mortgage Documents:

   • Print two copies, and ensure they are witnessed by a Justice of the Peace (JP).

   • Mail the witnessed copies back to the bank.

3. Insurance Certificate:

   • Email a copy of your home insurance policy for our records.

Completing these steps at your earliest convenience ensures a smooth progression in the final stages of your home loan journey. Should you have any queries or require assistance during this process, feel free to reach out—we're here to facilitate a seamless experience for you.

Step 6: Settlement Process

Once all the signed loan documents are returned to the bank, a thorough check is conducted to ensure accuracy—usually within 48 hours. Subsequently, the bank issues a 'ready for settlement' notice. Your solicitor will guide you through the settlement process from this point onward. On the day of settlement, ensure that your deposit and associated costs are paid, and upon finalization, collect your keys from the real estate agent.

Post-settlement: Interest Rate Reviews

Upon settlement, we'll schedule a follow-up date for a rate review. This typically occurs in the following manner:

• Variable Portion:

  • Contact will be made 6 months from settlement.

  • We'll negotiate with your existing lender for a potential discount on your current rate.

  • If your current bank isn't competitive, we'll present you with refinancing options.

• Fixed Loan:

  • You can expect to hear from us about 30 days before the expiration of your fixed rate.

  • We can explore options such as re-fixing, obtaining a variable discount, or refinancing to a more cost-effective lender.

If, at any time, you believe your interest rate is not competitive, don't hesitate to reach out to us for an earlier rate review. Your financial satisfaction is paramount, and we're here to ensure your ongoing peace of mind.