Home Loan Process

Follow our 7 easy steps to home loan application success.  The home loan process doesn’t have to be daunting.  Depending on the complexity of your situation, the application process may take anything from a few days to a couple of weeks, however as a guide allow up to 14 days for full approval and a further 2-3 weeks for property settlement.

Stanley Finance are with you every step of the way.  We will take out the hassles with arranging finance and stay in contact with you throughout the process.

Step 1:     Initial Appointment

During your initial appointment, Stanley Finance will discuss your current situation as well as your future plans and financial goals. We will gather all the necessary information to be able to provide you with the best possible advice. To make the application process as quick and simple as possible, we ask our clients to complete the Fact Find and provide us with supporting documentation prior to the initial appointment.

Step 2:     Preliminary Assessment

Following your appointment and once we have received the completed Fact Find and all supporting documentation, Stanley Finance will complete a preliminary assessment of your application and select the most appropriate lenders, loan features and interest rate that best suits your needs. We will discuss the options with you and assist you in making a final selection. 

Step 3:     Loan Application

Stanley Finance will professionally prepare your home loan application, together with your supporting documents, and submit it with your chosen lender. 

Step 4:     Conditional Approval

Your lender will assess your application to determine whether you meet their requirements. This includes confirmation of your income and employment, assets and liabilities and a check of your credit history. Stanley Finance will receive conditional approval on your behalf, outlining any additional information that may be required. Your lender will then conduct a property valuation (if required).

Step 5:     Unconditional Approval

Following satisfactory property valuation and receipt of additional information (if required) your lender will grant unconditional (full) approval.

Step 6:     Home Loan Offer & Mortgage Documents

Your chosen lender will send out your Loan Contract(s) and Mortgage Documents for you to sign and return. These documents outline all terms and conditions of your loan, including rates and fees. Stanley Finance will check the documents, answer any questions you have and ensure all signatures and information is correctly completed to avoid any delays in the process.

Step 7:     Loan Settlement

Your solicitor/conveyancer will liaise with your lender to schedule a settlement date. The home loan will commence upon settlement and the property will be yours. The first repayment on your loan is usually required one month after the settlement date.

Congratulations, welcome to your new home!

If you have any questions or would like to make an appointment contact Stanley Finance, your local home loan specialist.