Application Process

Application and Settlement Process

The following is an outline of how the loan application process will work and the basic steps involved in purchasing or refinancing a property.

Remember that your accredited mortgage consultant is available at all times to ensure that this process runs smoothly and can answer any questions you may have.

Download the Homeloans Application and Settlement Process in an infographic, click here.



This initial interview is for you to meet with an accredited mortgage consultant, who will ask you a number of questions about you and your financial situation. This will enable them to find the best solution for you from our wide range of loan options.

Loan Application Process

Upon receiving all of the required documentation, your accredited mortgage consultant will lodge your loan application for approval. This includes the First Home Owners Grant (FHOG) application where applicable.

Conditional Approval

Once the loan has been conditionally approved you will receive a letter detailing any outstanding matters requiring attention to unconditional or 'formal' approval.

Property Valuation

A valuation of the property to be financed will be arranged, ensuring there is adequate security over the funds begin lent.

Unconditional (Formal) Approval

Once all of the conditions are met, you will receive notice of the unconditional (formal) approval.

Settlement Documentation

Solicitors will be instructed to prepare your settlement documentation which will then be sent to you. This is to be signed by you and returned to the solicitors as soon as possible.

Discharge Existing Mortgage

If you have an existing mortgage, you must contact us immediately and sign a 'Discharge of Mortgage Authority' form. It is important to do this as soon as possible, as discharging an existing mortgage generally causes the greatest delays in settlement.

Apply for Home Insurance

Unless your loan is for vacant land or construction, you must arrange home insurance and provide the certificate currency. You cannot proceed to settlement without this.

Congratulations! Settlement

Once all the conditions are met, you will receive notice of unconditional (formal) approval including any other requirements in order for the settlement to take place. You will also receive confirmation of how funds were distributed.