Home loan process

Buying your first home is often an exciting, but also overwhelming experience filled with challenges and decisions that need to be made along the way. Whatever your needs might be we’re here for you every step of your journey to make your big purchase as seamless as possible.

Once your offer on a property is accepted, you can apply for a formal home loan online, over the phone or in-person with help from our Finance Consultants. They will also let you know which documents are required to formalize your loan approval.

1. Let your Finance Consultant know you have found your property.
2. Gather all the necessary documents required by your Finance Consultant.
3. Find a conveyancer or solicitor to review your contract and other legal documents to be sure you understand the conditions of the sale.

To secure your property, both buyer and seller need to sign the Contract of Sale, which confirms selling price, settlement terms and other conditions for the sale.

To secure your property, you’ll likely need to do the following:

1. Consider carrying out a property and pest inspection to avoid bad surprises.
2. Check if there’s a subject to finance clause in the contract (preferred).
3. Sign the Contract of Sale provided to you by the seller or real estate agent.

Once your home loan application and documents have been submitted, we’ll review them and complete any necessary checks. We’ll then let you know if your loan is approved and provide your loan offer documents.

1. Pay the deposit (usually 5 – 10% of the property price).
2. Complete stamp duty forms (if applicable) – your conveyancer or solicitor will organize this.
3. Review, sign and return your home loan documents.
4. Look into home insurance options prior to settlement.

Settlement is the formal completion of the property purchase, involving you, the seller, and your respective representatives. Generally, at settlement, your deposit is released to the seller, and we pay the agreed loan amount on your behalf, including any settlement adjustments. These include taxes, rates and other services that have been paid in advance by the seller. Once settlement has taken place, your conveyancer or solicitor will notify you, and all that’s left to do is for you to pick up the keys!

1. Arrange a final inspection with the seller or their real estate agent prior to settlement day.
2. your final contribution. This may account for taxes and duties, as well as any adjustments paid by the seller. Ensure you have funds to pay any shortfall on settlement day.
3. After settlement, pick up your keys from the seller’s real estate agent.