Application Process

The application process varies according to the type of finance you are seeking and even from lender to lender.

Outlined below are the steps common to most lenders when processing home loan applications.

  Application Process
After the initial interview our consultant will complete a Preliminary Assessment to determine which loan would be suitable for your needs.
  Application Process
A Credit Guide providing general information about the lender's and My Choice's services is provided directly to you. In addition we will provide a quote disclosing any fees that may be payable by you to My Choice.
  Application Process
Information is collated and submitted to lender.
  Application Process
Lender conducts credit checks and assesses application based on the information and documents provided.
  Application Process
Lender advises if loan is conditionally approved (or declined). There may be a request for more information or clarification at this point.
  Application Process
Lender’s valuer conducts a valuation of the property and submits report to lender.
  Application Process
If valuation is acceptable lender either issues unconditional approval. If mortgage insurance approval is required lender obtains this prior to issuing unconditional approval.
  Application Process
Lender prepares mortgage and loan documents and sends them to you or your solicitor.
  Application Process
You sign documents and return to lender together with any requested documents.
  Application Process
    Congratulations – your loan has settled.
Importantly we will keep you informed every step of the way.
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