So your loan has been submitted - what happens next?

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We have a specialised team who step up and take care of the process from here.

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While you're always welcome to contact the broker - and they're always in the loop, but sometimes in meetings and hard to catch - we're right on top of this and always available.

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For updates - contact us:

 

• by email

• phone (02) 9002 0380

• or on the mobile number provided on your first email from us.

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Basically, all of the documents are sent to the lender and we join a queue to be assessed. We are given estimates of the length of time that we will share with you - but keep in mind this can change based on the complexity of the files that are in the queue before us; if they take longer than expected to get through then unfortunately this pushes us out a little. And when we quote "days" we are always talking business days.

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Most lenders work on the following basic formula:

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• Preliminary check - are all the documents there? Around 24 hours - 1 business day

• Preapproval or conditional approval - around 3 days

• Valuation ordered - valuations usually take around 3 days depending on when the valuer can get access

• Full approval - around another 2 days after the valuation is returned

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Remember these are very rough, we have some lenders who order valuations on the first day and some who are taking 13 days to assessment - this is all part of the decision process of choosing the lender, and we are always working towards your important deadlines.

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Here are a couple of handy diagrams that give you a little more about the process and each of the steps - including what you need to do, and a few additional handy tips:

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• Refinance  

• Purchase new home to live in

• Purchase new investment property 

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And you're always welcome to check in with us at any time

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Bec, Kylie, Francis, Tennille, Annaleise