Debt Consolidation loans can assist with cash flow, by having one regular consolidated repayment, at a lower interest rate than most credit cards/personal loans/car loans.
THE LOAN PROCESS
Contact us via phone or email or book a 1-on-1 meeting at our offices to understand your financial & lifestyle goals. We will then send you an introductory email outlining our team and loan process which will also contain a Client Information Form and checklist for you to complete
COMPLETE CLIENT INFORMATION FORM AND SEND THROUGH CHECKLIST DOCS
Complete the electronic Client Information Form and email through applicable checklist documentation to us. From this information, we can assess your borrowing capacity, deposit required, maximum purchase price and which lenders/banks you can proceed with.
COMPLIANCE & LODGEMENT OF APPLICATION
Once we have reviewed your information provided, we will be able to assessed your equity position & ability to refinance. We will then choose the lender to best suit your scenario and proceed with the compliance documentation required sign and return, we then lodge your application.
If you have met all the lenders requirements and there are no further conditions to be met (conditional approval) you will receive formal approval. This means your refinance request has been accepted by the new lender.
DISCHARGE SENT TO CURRENT LENDER
Now your loan is approved we have to request authority from your existing lender to close your current loan account and release the security that is attached to the loan. We will arrange this on your behalf.
LOAN DOCUMENTATION ISSUED
Once the loan has been formally approved, the lender will send the loan contract for you to sign to accept their loan offer. Once you’ve signed the contract it is sent back to the lender and the bank will certify the documentation ensuring they are signed and completed correctly. Once certified they can book in settlement.
Settlement is the final stage of the loan application transaction. When settlement occurs this means the loan/s with your original lender have now been paid out/closed, and the loan with your new lender has been opened. You will now see all your new loan and transaction accounts appear on your net banking.
At settlement we will advise when your first repayment will occur.Your loan repayments will come out automatically as requested on your loan documents from your nominated account.
ANNUAL HOMELOAN REVIEWS
Once your loan settles that isn’t it for us, we live by our motto, “Service for Life.” Each year after you have settled on your loan we will do a comprehensive review to ensure you are still on the best product to suit you.