Custom Wealth Works aims to make the loan process as easy and as straightforward as possible so you know what to expect each step
of the way.
Step 1 Debt Analysis
Have a 'no obligation' meeting with a Custom Wealth Works Consultant to do a cashflow analysis and discuss how to turn your inefficient debt into debt that works for you so you can achieve your goals and dreams. If you decide not to proceed, no problem we're happy to have met with you and possibly to have helped you clarify your financial goals!
Step 2 Loan Appointment
At your loan appointment the Custom Wealth Works Mortgage Broker will help you select a loan that is suitable for you, explain all the details of your chosen loan and help you complete the loan application form.
Step 3 Loan Application
Your Mortgage Broker will professionally package your loan with the supporting evidence and then lodge it with your chosen lender.
The lender will assess your application, let us know if more information is required, perform credit checks and, if necessary, arrange a valuation of your property and organise mortgage insurance.
Step 4 Approval
Your lender should then be in a position to advise us that your loan has been unconditionally approved. We will notify you immediately of formal approval. At this stage you should organise your building insurance, which will be needed for settlement.
Step 5 Loan Offer
You will be sent a “loan offer letter” for you to review, sign and return. The loan offer letter is your loan contract and outlines the terms and conditions of the loan, including the interest rate, term and the range of possible fees.
If you have any questions about any of the documents, please just give us a call and we will help you.
Step 6 Mortgage Documents
Your lender will send you or your solicitor/conveyancer your mortgage documents to be signed and returned. These documents include the lender's standard terms and conditions as well as the legal document giving the lender security over the property.
Step 7 Settlement
Your lender will liaise with your solicitor/conveyancer to arrange for settlement to take place. The loan will be 'drawn down' and the property will transfer into your ownership. Congratulations!
