Loan Market

5 The loan process step-by-step. You’ve done this before, but things can be a little different when it comes to an investment loan. A chat with your broker. Here you’ll nut out your goals, your current financial position, and your borrowing power – to narrow down the kind of loans they’ll look out for. An existing property can be used as equity, so you may not need as much deposit as you first thought. Understand what’s possible. You’ll hear back from us as soon as possible. Your broker will have a range of investment loan options for you. You choose one, then they get to work – preparing and submitting your loan application to your chosen lender. Getting the go-ahead (pre-approval). If all goes well, you’ll get the green light to borrow a set amount for a set time (usually valid for three months). This gives you a clear idea of what you can spend - and everything you need to make an offer on a property. Let’s make if official (formal approval). You’ve found the place. And you got it! Now all that’s left is the paperwork – and we sort all that out. During this part of the process, your property will be accepted by the bank, the details of your valuation and insurance will be provided, and a settlement day will be scheduled. Settlement - the big day. The property is almost yours! In this final stage, your broker will coordinate the lead-up to settlement with your solicitor/ conveyancer and the lender, as per the date on the contract of sale. Get ready to pop the champagne because once settlement has taken place, you get the keys. You have officially grown your property portfolio. It’s time to celebrate. 1 2 3 4 5 Here’s what to expect: