Apply for a Loan

When you have completed your research, you should feel ready to apply for a loan. You should have a clear idea of what suits you and feel ready to make an appointment with your chosen lender or lenders.

When attending a loan application appointment – as you have already prepared your budget and other information in Step 1 – Home Price, all you need should need to take will be all those documents you have put together.

There are usually two main components to satisfy in relation to a loan application:

1. determination that you fit the lenders funding requirements with respect to income level, deposit available, loan servicing capacity and the like

2. determination by the lender that the property selected offers sufficient security or the loan. This can involve the lender undertaking a valuation or other investigation and the lender will need copies of the property contracts and other documents.

Both of the above involve various considerations but if both you and the property fit the bill, as well as all the lenders other requirements – you can move on to the next step – Property Research.

The information in this section is intended to be only a brief overview of some of the common financial considerations and queries we deal with on a day to day basis.

For more detailed information on how to apply for a loan view the websites of and contact your prospective lenders or ask your financial adviser.