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Six easy steps to settlement

Smartline aims to make the loan process as easy and straightforward as possible so you know what to expect each step of the way.

1. Loan appointment
2. Loan application
3. Approval
4. Loan offer
5. Mortgage documents
6. Settlement

Step 1: Loan appointment

At your home loan appointment your Smartline Mortgage Broker will help you select a home loan that is right for you, explain all the details of your chosen loan and help you complete the loan application form.

Step 2: Loan application

Your adviser will professionally package your home loan application with the supporting evidence and then lodge it with your chosen lender – often electronically.

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 3: Approval

Your lender should then be in a position to advise your adviser that your loan has been unconditionally approved. Your adviser will let you know immediately. At this stage you should to organise your building insurance, which will be needed for settlement.

Step 4: Loan offer

Your lender will send you a loan offer for you to sign and return. The home loan offer is your loan contract and outlines the terms and conditions of the home 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 5: Mortgage documents

Your lender will send you or your 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 6: Settlement

Your lender will liaise with your conveyancer to arrange for settlement to take place. The home loan will be ‘drawn down’ and the property will transfer into your ownership. Congratulations! 

More in this section: How Smartline works Our lending panel What you’ll need to show the lender