Experienced financial advisers can guide you through the mortgage application process smooth. Our hundreds of five-star Google reviews demonstrate that our clients highly praise and trust us. How do we assist our customers in completing the entire mortgage application process smoothly? I will walk you through the process of obtaining a home loan with us today. Our goal is to better understand what will happen during and after the loan application process for your next property purchase with us.

There are 11 steps in total.

Step 1 Understand your situation and goals.

Once you have made your first contact, you are at the beginning of the process. Our client service representatives will contact you, mainly by phone. However, if it is difficult to schedule a phone call with you, we will also contact you via email. Therefore during this step, the client service specialist will try to understand as much as possible about your current situation and future property purchasing plans.

Step 2 Getting advice from a financial advisor.

Once the information is gathered, it will be passed on to one of our financial advisors. The financial advisor will use this information, internal comparison tools, and past experiences to generate preliminary advice and present it to you.

Step 3 Loan application file preparation

If you think the advice is helpful and wish to proceed with an application, one of our colleagues will email you instructions for preparing the loan application. A total of two emails will be sent to you during stage three. You will find a link to an online application form and disclosure documents from your financial advisors in one email. We will also send you a second email containing a link to our online portal for uploading all required documents. As you prepare your application documents, our client service specialist will assist you with all aspects of the process.

Step 4 Internal file review

We will proceed to step four once all the information documents have been provided. Here we will conduct an internal review of the file by the lender’s requirements at the time of application. So this step will be completed by our application specialist, and once the review is completed, the application specialist will have a quick meeting with our financial advisor.

Step 5 Pre-submission meeting

This step involves a pre-submission meeting with your financial adviser and application specialist. The pre-submission meeting will take approximately 20 to 30 minutes, depending on the complexity of your application. During this meeting, the financial advisor will review the disclosure documents we sent you in step three to ensure you understand them. Our application specialist will then review the list of questions or issues identified during the internal file review process. They will also clarify any issues necessary for the final application. Afterwards, your financial advisor will give you final advice based on the internal file review results.

Step 6 Application submission

Our application specialist will prepare the final application package if the final advice is accepted and you are willing to proceed with the application. At this point, the application form, which will be sent to a lender, will be emailed to you. We will request that you review the application to ensure that everything is correct and confirm it with us. We will apply to the lender once we have received your formal confirmation email.

Step 7 Application assessment support

We will provide ongoing support to the assessment after we submit the application. To ensure satisfactory approval from the lender, we will do our best to answer all questions and mitigate any potential issues that may arise during the assessment process.

Step 8 Assist property check and meeting loan conditions

Once the loan has been approved, we will proceed to step eight. In general, this is the stage of property hunting. During this process, we will assist you with any property check request, and we will also assist you with any conditions associated with your loan approval.

Step 9 Finalize loan structure.

We will proceed to step nine once you have completed your final purchase. Now we will go back to the lender. That is, of course, after you have met all the conditions of your offer. After we have contacted the lender and obtained the best interest rates and cash back, we will meet again with you to finalise the loan terms. As soon as that has been finalised, we will forward it back to the lender. The final loan documents will be generated by the lender and forwarded to your solicitor by the lender.

Step 10 Settlement support

The period between when the loan documents are sent by the lender and the final settlement date constitutes step 10. During this period, we will provide any assistance required to ensure a smooth settlement. In addition, we will refer you to other professionals if you need them, such as insurance advisors.

Step 11 Post-settlement Maintenance

Following the settlement, we move on to the final step. Our services will continue after settlement has been reached. The basic idea is that we will be able to assist you with any future reference request, and we will also be able to conduct any loan reviews you may need, as well as any other on-demand review requests you may have.

Here are the 11 steps you will experience when you come to us for a home loan. We hope that this information will be helpful to you. Have you got questions? We're more than happy to help. Call us at 09 930 8999 to chat with one of our mortgage advisors. At Prosperity Finance, we don't have a one-size-fits-all solution for your home loan. We look at your case, understand your needs and situation then make a tailored solution for you.

Disclaimer: The content in this article are provided for general situation purpose only. To the extent that any such information, opinions, views and recommendations constitute advice, they do not take into account any person’s particular financial situation or goals and, accordingly, do not constitute personalised financial advice. We therefore recommend that you seek advice from your adviser before taking any action.