OUR ENGAGEMENT PROCESS
1. DISCOVERY
It all starts with a discovery as with all great things. Our discovery process is all about discovering you, your personal and financial situation, your aspirations and your goals. This knowledge allows us to objectively go to the bat and match the right solutions to your long-term goals.
2. ANALYSIS & RESEARCH
At this stage, we go to work, take out our tools and assess how much loan you can service given your income. We also work out the level of purchase price that can be supported by your savings level.
3. PRODUCT SELECTION
At this stage, we compared several lenders to select a product that best matches your needs. In selecting a product, we consider cost competitiveness by selecting the most cost-efficient product, both in terms of interest savings and product costs as well as how the features of the products match your needs.
4. SCENARIO PRESENTATION
At this stage, we prepare and present a formal loan proposal along with other compliance documents and present them to you. The scenario will summarise your situation, goal, our proposed solutions, potential interest rates and repayments.
5. LODGE APPLICATIONS
At this stage, we submit your loan application to the bank for assessment.
6. BANK ASSESSMENT & CONDITIONAL APPROVAL
Once the application is lodged, the bank will assess the application for the following; firstly, that the application meets the banks minimum lending criteria in terms of servicing capacity and capital adequacy, that is; you have provided sufficient evidence that you have funds available to pay the required deposit and meet ongoing repayments as they fall due. Secondly, that you have provided all documents required to support the application. If the bank's assessor finds that there are supporting documents that have not been provided, they will inform us. We in turn will let you know and seek to obtain that information from you, if not already provided. Assuming that all documents are provided, the bank will provide you a conditional approval. Sometimes call a pre-approval. That is, the loan is approved subject to you finding a property, if you have not already found one, and that property is valued by the bank at a price you can afford, given your deposits.
7. FORMAL LOAN APPROVAL
At this stage, the bank prepares formal loan documents which we help you to sign. In some instances, you may have to get legal advice on the loan documents before proceeding. Once the documents are signed, they are returned to the bank for verification. Once verified, settlement can be booked.