The Home Loan Process.

Simple Steps To Achieving Your Property Goals.

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Getting A Home Loan.

Applying for a new home loan can be a lengthy and confusing process if you are doing it yourself. So why not let Specialist Mortgage do the hard work for you?

Specialist Mortgage are leaders in Australian residential finance with more than 30 years of experience. We are recognised as Australia’s number one mortgage brokerage to Australian expats and non residents.

If you’re looking for experience, negotiation power and expertise then you don’t need to look any further.

Melbourne apartment purchased with a mortgage

We'll Help You Through The Home Loan Process.​

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Step 1: Initial consultation.

Get in touch with us and you’ll get an advisor who can offer guidance, answer all your home-loan related questions and act on your behalf with the lender. You can then decide if you would like to go ahead with Specialist Mortgage or not, either way you will receive an obligation free strategy and will not be charged.

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Step 2: Preliminary Credit Assessment.

Our specialist team will assess all your finances and discuss a plan forward. We will first conduct a credit assessment to find out your borrowing capacity.

Your personalised mortgage broker can:

  • Discuss your property goals and help you achieve them.
  • Calculate your borrowing power.
  • Negotiate with your lender.
  • Navigate through the financial and policy jargon.
  • Review your current situation and advise best future options.
  • Review loans and alternatives and present best offer.
  • Refinance to improve cash flow and debt consolidation.

Melbourne apartment purchased with a mortgage
Waterfront homes and apartments with yacht in foreground
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Step 3: Loan recommendations.

Once we have assessed your financial capacity and discussed your goals, we will liaise on your behalf with over thirty reputable lenders. Due to our vast experience and knowledge, we can aggressively negotiate at a policy level to get the best products available for your individual circumstances. We will offer free quotations, recommendations on suitable loan options, and explain features, fees, benefits and drawbacks of each mortgage package.

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Step 4: Mortgage application.

Once you are happy will guide you through the mortgage application process. This is when you will need to submit documents and evidence to verify your identity, income, assets, expenses and debts.

Step 5: Pre-approval (conditional approval).

A home loan pre-approval is when a lender agrees – in part – to lend a certain pre-approved amount to you based on the information presented. The benefits of pre-approval:
  • Sellers and agents will take you more seriously.
  • Go shopping knowing your budget.
  • It’s free, so no out of pocket expenses.
  • You can make an offer on a home with confidence.
  • It’s valid for 3-6 months.
  • There is no penalty if you don’t buy
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Step 6: Property selection.

Now for the fun bit – time to search for your home!

It can be easier to get excited and start looking outside your budget, but this will lead to disappointment. Create a checklist of your buying criteria and price range, this will help keep you on track.

It’s a good idea to appoint a solicitor or licensed conveyancer at this point. A Buyer’s Agent or trusted advisor can also be very helpful. By appointing the right team of professionals, you should feel confident to enter into a contract to purchase a home by private treaty or auction.

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Step 7: Property valuation.

You’ve found the property you intend to purchase, what to do now?

Ask for a contract of sale and pass on to your conveyancer & broker to review. You can then submit and offer and negotiate the terms. Your broker can also act on your behalf at this step. Once the offer is accepted, you’ll need to exchange contracts and pay a holding deposit. This is typically 0.25% of the purchase price.
Your broker will then arrange for the property to be inspected and valued by the bank or lending institution.

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Renovated home with outdoor fireplace and large yard
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Step 8: Formal Approval (unconditional).

Once you have entered into a contract you will work closely with your solicitor and mortgage broker to ensure all the necessary steps are undertaken and that any clauses in the contract are satisfied. You will need to pay your deposit during this time. Your lender will receive a copy of the contract and order a property valuation to confirm the property value and determine the loan value ratio.

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Step 9: Settlement.

Settlement is when the ownership of the property is exchanged from seller to buyer. Your conveyancer or solicitor will finalise the transfer of all fund, including stamp duty. Once the property titled is transferred into your name home is officially yours and your mortgage commences.

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Step 10: Congrats, you’re a homeowner!

Pick up the keys and move in!!!!

Experts In Australian Finance, Located Worldwide.

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Get a free mortgage assessment.

Let us know your situation and one of our brokers may be able to provide a better mortgage solution.

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Book a free online consultation.

Book a time to chat through your options with one of our friendly mortgage brokers.

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Find Your Local Office.

Discover which one of our global offices is best to have a chat face to face about your home loan objectives.