The Finance Process

The best option for you and your family

With so much choice, finding the right loan for you can be a complex and sometimes daunting process but you can be assured that Mortgage Solutions Australia has the answer.

We have developed a step by step guide outlining what is involved when applying for finance.

For your peace of mind, the team at Mortgage Solutions will work with you to get you through the entire loan process and find the best option for you and your family.

Step One:

Contact your Mortgage Specialist

The first thing to do is contact a Mortgage Solutions Australia, Mortgage Specialist. Our Mortgage Specialist's won’t lend you the money, but they will help you to choose a bank and loan that’s right for you. They will ask some general questions relating to your personal circumstances and offer some solutions. If you are still keen to proceed they will commence with the application.

Step Two:

Prepare your Application

You can make an appointment with your Mortgage Specialist at a time and place that suits you to commence your application. This service is absolutely free because we are paid by the lender and you can drop into our office or we can come to your home or office.

Step Three:

Lodging the Application

Your Mortgage Specialist will prepare and send an application to the lender on your behalf. Where the lender may have questions, your Mortgage Specialist will contact you, only if they dont have the information required on hand. Your Mortgage Specialist has worked in the industry and with the banks for many years, and will know what information maybe required by which lender in order for your application to meet the lending criteria, as well as discuss personally with the key decision makers in regards to your application when necassary.

Step Four:

A decision is made

Your Mortgage Specialist will follow up the lender regarding the status of your application. This process can take up to 3 weeks, but you generally hear from your lender within 7 (days). The lender will indicate whether the application is approved or deferred. If deferred, you may need to provide additional information. Your Mortgage Specialist will help you with all this.

Step Five:

Formal Approval

The lender has formally approved your loan. This means that there are no conditions other than signing the documents. Your Mortgage Specialist will give you a call and a letter will be sent out.

Step Six:

Loan Documents

The lender or the lender’s solicitor will prepare the contract mortgages for you to sign. Some lenders send them to our office while others send them directly to you. Once you receive your loan documents please give your Mortgage Specialist a call and they will go through them with you.

Step Seven:

Settlement

Once the documents have gone back to the bank, the lender will check them and then they will be ready to settle. Your settlement agent will then book the settlement. Your settlement agent on most occasions liase directly with your Mortgage Specialist to obtain any necassry documentation to ensure a smooth settlement. Once settlement has gone through, your Mortgage Specialist will contact you to advise you and you can commence preparing to move into your new home.

Step Eight:

Follow up

Please do not hesitate to contact us after the settlement of your facility. We are always more than happy to help facilitate any other enquiries you or your family and friends may have.

Note:

Discharges

If you are using an existing property as security with another lender then we will need a Discharge of Mortgage Form completed.

First Home Owners Grant

If you qualify for the First Home Owners Grant your Mobile Lender will take your application at the time of interview. These funds will become part of your settlement proceeds.

Note:

Certificate of Currency

Your Lender will require building insurance over the properties you are using as security. Your insurance certificate will need to note your particular Lender as the mortgagee.