To provide you with a basic loan rate we’ll start with gathering an understanding of your goals and

what you’re trying to achieve.

Here’s an overview of some of the questions we’ll ask you:

• Your name and contact details
• Purpose of the loan (eg, investment property, renovating, commercial property, SMSF loan
• Your income (combined or individual)
• Approximate balance owing on existing loans (if applicable)
• Estimate on current property value (if applicable)
• Key features you want from a loan (eg, redraw, multiple offsets, fixed rate)

Next steps

1. From the snapshot of information provided by you, we will provide a basic rate via email.
2. From here, you may choose to accept our offer for a more detailed loan comparison report which gathers and considers more detailed financial information and will provide a much more accurate forecast of the right loan to suit your needs.

Our Loan Comparison Report offers you a detailed overview of 3-5 lenders that more accurately fit your goals and needs.

Before we can create this report for you, we will need you to:

1. Sign a privacy and consent form sent to you via email
   
2. Complete your details via our secure portal to collect your financial data from the relevant
   bank accounts
   

All of the information you provide will be treated as confidential.

Next steps

Within 24 hours of signing the privacy & consent form, and accessing the secure client portal, we will create a detailed comparison report which you will receive via email.

We’ll discuss this over online conference, telephone or in person to answer any questions you may have about the loans recommended to you.

At this stage, the Loan Comparison Report will generate loans that are an approximate 80% match to your lending requirements. We’ll keep all your initial goals and key features top of mind when sourcing the right lenders for you.

Ready to go further?

To proceed further into the loan process and ensure we have the same end goal in mind, we ask that you formally engage SMART Mortgage & Lending to act as your mortgage broker, by;

1. E-Sign the Engagement Letter
2. Then, we’ll continue our intensive loan research once you: Upload more detailed documents and information into the secure client portal (You’ll receive a Loan Document Checklist as a guide on which information is required).

Now we’ve drilled down into the details, we will produce a Formal Loan Recommendation report for you.

Next Steps

If you wish to go ahead with the loan that we’ve recommended for you, we’ll do a few things:

1. A phone call or face to face meeting to answer any questions you may have about the loan recommendation
   
2. Send you a Loan Application Form from the lender.

Loan Application

The Loan Application is a detailed process, and it can vary from lender to lender.

There may be pieces of information that the lender requires to keep the application moving through the pipeline. We will remain in close contact with the lender on your behalf and will call and/or SMS you should there be any further information required from you.

Occasionally the lender may reach out to you directly for information. If you are unsure of progress at any stage please contact us directly for clarification.

We will submit the loan application to the lender on your behalf.
Once the Loan Application is submitted, we await the Conditional Approval stage.

A few points to note

This step involves a lot of admin from our end. The implementation and progress of your Loan Application will vary greatly from person to person, from lender to lender.

Rest assured we aim to maintain consistent contact with you and your providers to expediate the process where possible.

Conditional approval means that the mortgage underwriter is mostly satisfied with your entire loan application, but still sees something that needs to be resolved. These issues are referred to as “conditions”.

The conditional approval signifies that if you meet the remaining conditions, the loan will be approved.

Often referred to as a pre-approval, this step is necessary to confidently go to market with clarity of how much a lender is willing to loan to you.

Here’s what happens:

• Formal Approval sent to our broker from the lender
  
• We’ll contact you with the good news
  
• Lender will send you the formal loan docs (email or posted)
  
• You must sign the docs and send back to the lender promptly

We’re at the pointy end of the transaction now. Here’s an overview of what’s happening in the background:

1. Loans documents verified by;
   - Lenders solicitors, and
   - Your solicitor/conveyancer*
2. Settlement is booked by lender
3. Lender notifies us (your broker) of Settlement Date
4. We’ll notify you of the Settlement Date – via SMS and ph call
   
   

Plan for successful settlement

We’ll be in contact by phone and email prior to settlement to ensure you have the correct funds in the correct accounts.

*If you do not have a solicitor / conveyancer that you have already engaged, we can assist with providing a list of professionals that may be able to assist you.

When the money officially changes hands!

1. We’re notified by the lender that settlement has happened
   
2. We’ll call or SMS you notifying that the loan has settled.