Loan application process - steps

  • We discuss your needs
  • We compare & analyse
  • We prepare & submit your loan
  • You get conditional loan approval
  • LMI & Valuations if required
  • You then get unconditional approval
  • Settlement is arranged
  • We’ll manage every step for you

First of all, contact us to discuss your loan needs; you can then expect the following general process:

Step 1 - We make the time to discuss your loan needs

We understand your requirements

Usually at your home or a place convenient to you (or by phone if you prefer), we will listen to and understand your financial requirements.

We compare and analyse suitable loans for you

Once we've done this, using our most advanced loan technology, we can instantly give you an idea about the most suitable loan offers available and the benefits of each, selected from hundreds of different loan products from different lenders in the market. You'll also know right from the beginning the actual costs involved (such as stamp duties, legal charges and bank fees) so there won't be any surprises later on.

We'll make sure you have a clear picture of the most suitable loan choices available so that you can make an informed choice.

We prepare and submit your loan

With the most suitable loan and lender selected, the loan application process will begin. We will discuss with you what information is required for your loan, and once we have all of this from you (see loan preparation checklist), we will coordinate and lodge your loan application to the lender.

We hold your hand all the way

We make sure you know what's happening with your application at every stage of the process from the application through to the settlement stage, but you never have to concern yourself with the details - that's our job. We handle all the paperwork, calculations and communications with the lender right through until the loan has settled.

Step 2 - Getting your loan approved

Conditional Loan Approval

The lender assesses your application and does relevant checks. Usually within a week of lodging your loan application (and often within 24-48 hours), conditional approval of your loan is given (or declined) by the lender, listing any conditions or outstanding matters requiring attention prior to unconditional (full) approval by the lender. We will let you know if the lender requires anything more from you.

Once conditional approval has been given, a property valuation(s) will be ordered by the lender if required, and obtained within 2-3 days, subject to gaining immediate access to the property to be valued. This is paid by the lender.

Unconditional Loan Approval

This usually takes up to 2-3 days once the valuation report(s) have been received and assessed by the lender. This process also includes getting mortgage insurance sign-off by the lender (if required).

We will contact you as soon as the lender advises us that they have given unconditional (full) approval of your loan.

Step 3 - Settling your loan

After unconditional loan approval, the lender will send you (or your nominated party) the mortgage documents to sign and return. Where we can, we will assist you in completing these documents and getting them back to the lender promptly.

If you are purchasing a property...

Once the signed documents are received by the lender, your solicitor/conveyancer will coordinate settlement with the legal representatives of the lender and seller.

If you are refinancing a loan...

Once the signed documents are received by the lender, the new lender will liaise directly with your existing lender (if different) to arrange your property refinance. The existing lender can take 5-7 days to prepare the discharge and settlement of the existing loan.

Depending on which lender, the settlement process usually takes 3-7 working days from the date the lender receives your signed documents.

Step 4 - Time to celebrate!

Congratulations - your loan has been settled and is now in effect. You can now gain access to your property or start to rent it out.

See How Long Does Approval Take?

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Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).


Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases


Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.


Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article


It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.


This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.


The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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Distance tests a horse's strength. Time reveals a person's character

Chinese Proverb