HOME LOAN PROCESS

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Are you unsure about the Home Loan Process?

The home loan process can be a daunting task for many but having an experienced mortgage broker to complete everything for you makes it much more enjoyable.  Talk to us, if you’re looking for a home loan from an award winning credit professional, ask us to call you or phone 1300 99 22 60. It costs nothing to speak to our credit advisor, who can quickly help find out how much you can borrow and which loan may best suit your needs, plus answer any questions about the process. Unlike a bank, we can offer you a range of home loans from over 30 lenders and advise you on the best lending structure to match your goals.

Get your free pre-approval today

If you have started your property search, a pre-approved loan can be very useful. A home loan pre-approval gives you a clear picture of what you're spending limits are and gives you peace of mind that if you find a property that you are really interested in, you can move quickly to make an offer. And it may just put you in a stronger negotiating position than other potential buyers who don’t have pre-approval. Our brokers can take care of the paperwork to help you get home loan pre-approval today.

Making offers and signing a contract of sale

Whether you buy a property at auction or make an offer on a listing, your agreement with the vendor only becomes a legal commitment when a Contract of Sale (Offer of Acceptance in WA) has been signed by both parties. This contract will confirm the selling price as well as any terms and conditions. Your commitment will usually be subject to lender approval, and you may also choose a building inspection report and/or pest inspection.

The period from signing a Contract of Sale to Settlement – when the property becomes legally yours – is usually four to six weeks (shorter in some states, such as Queensland).Note: even if you have a pre-approved loan, your lender may still need to complete a valuation of the property you have chosen before issuing formal approval.

Paying your deposit

Whether you buy property at auction or make an offer on a listing, your agreement with the vendor only becomes a legal commitment when a Contract of Sale (Offer of Acceptance in WA) has been signed by both parties. This contract will confirm the selling price as well as any terms and conditions. Your commitment will usually be subject to lender approval, and you may also choose a building inspection report and/or pest inspection.

The period from signing a Contract of Sale to Settlement – when the property becomes legally yours – is usually four to six weeks (shorter in some states, such as Queensland).Note: even if you have a pre-approved loan, your lender may still need to complete a valuation of the property you have chosen before issuing full approval.

Choosing a conveyancer

You will need a solicitor or conveyancer to check the legalities of the Contract of Sale. Your conveyancer will also check all rates and taxes have been paid, check land use or building approvals for the property and order any relevant searches. They may also help sort out any inspections. On settlement day, the conveyancer will check the correct amount of money has been transferred from your lender to the seller and all fees - such as Stamp Duty – are paid, so you can take legal ownership of the property. Find A Better Rate Home Loans have been using Lydia from Home Conveyancing in Reservoir for over 10 years and can vouch that the prices are very competitive and the service is second to none. You can contact Lydia on 9460-9400.

Cooling Off Period

If you didn’t buy your property at auction, you may have a cooling off period where you can cancel the contract, although there may be a small penalty. Cooling off periods vary from state to state. A local solicitor or conveyancing firm can advise you on terms of what your rights may be.

Address

Melbourne, VIC 3000

Phone

1300 992 260

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Christopher Berry -  Find A Better Rate is a credit representative (389328) of Find A Better Rate Home Loans ABN 32 170 846 529 (Australian Credit Licence 389328)

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