To help you understand the "maze" that is the loan process - please find below a basic step by step guide to help you understand the different stages of the loan process.

What we require in order
to process your loan application

The following can be used as a guide for whether you are purchasing a property or refinancing an existing loan.

  • STEP 1

A Finance Consultant will contact you to arrange a meeting and advise you of any necessary documentation required to assess your position and borrowing capacity. 

  • STEP 2

Your Finance Consultant will then assess your individual circumstances and needs through our highly sophisticated technology to help find the right loan for you and your needs.

Your options will be discussed with you in detail and once you are satisfied and happy to proceed – we will organise for you to sign the Lender application form and provide all supporting documents.

  • STEP 3

Once we have received all necessary documentation from you - we will then submit the application to the Lender via an online system or via fax.

  • STEP 4

Once the application has been submitted to the Lender, a Client Relationship Manager from Finance Connect will phone you and introduce themselves.  Your Client Relationship Manager will be your main point of contact during your loan process and will keep you updated during the entire process.

  • STEP 5

The Lender will review your application in detail and if happy to proceed will issue you with a Conditional Approval also known as a Pre Approval.  At this stage your full loan approval will be subject to items such as satisfactory valuation carried out on your chosen property, sale of existing property, further documentation etc.

  • STEP 6

From Step 5 we move next to a Formal Approval or Unconditonal Status which means the loan is signed off and fully approved - we are now ready to work towards a settlement phase.

You will be sent a formal letter of offer and your home loan documents from the Lender.

  • STEP 7
Read through your letter of offer and loan documents - sign where applicable and return to Lender.

NB: You may need to see your solicitor prior to signing loan and mortgage documentation.

  • STEP 8

Upon settlement of your loan you will become a member of our ongoing Customer Service Program and kept up to date with Finance Connect newsletters, mail outs and promotions.

Please note the stage of progressing from Step 5 to Step 6 of your loan process will depend on your purchase property (if applicable) and any outstanding conditions the Lender requires clarification on before signing off on a formal approval loan status. 

Loans requiring a refinance only (so no property exchange involved) will often move from Step 4 to Step 6 similtaneously.