In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Submission
A submission is when a broker submits all your personal and financial information to lender with supporting documentation. From this stage they will track it from Conditional to Unconditional to final settlement. It means that a loan processor or your loan officer has collected your signed application and disclosures, made copies and assembled them into a file. Showing a lender you are a responsible borrower and spender, will improve not only your borrowing capacity and your deposit size, but also reassure them that you are capable of budgeting, making repayments and managing those repayments.
The average time for formal approval takes about four to six weeks from submitting the application to your lender, to reaching settlement on the property.
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