Once you have agreed to take out a home loan through Neesh Property, there is a flow of activity with each and every home loan process.

Depending on your situation, the time from the initial meeting to a final approval will take anything from a few days to a few weeks. Larger home loans and more complex situations will typically take longer. Simpler scenarios can be much faster.

Below is a step-by-step timeline of what you can expect.

Step 1

Neesh Broker receives all necessary information, documents and a signed application.

Step 2

Home loan application is prepared and submitted to lender by Neesh Broker. Neesh Broker informs you that your home loan application has been submitted to lender.

Step 3

Lender assesses application which will include credit checks and verification of information provided.

Step 4

Assuming that all credit checks and verifications meet the lender’s guidelines, a conditional approval is issued. If there are any lender concerns at this stage, your Neesh Broker will address these with you.

Step 5

Your Neesh Broker advises you of conditional approval (or otherwise) of your home loan application. If the lender requires any further information, your Neesh Broker will let you know and you may then return to a previous step in the process.

Step 6

The lender will order a formal valuation of your property. The valuer will then inspect and submit a written report back to the lender.

Step 7

The valuation is assessed by the lender and if it meets their guidelines, they will commence the process for issuance of an unconditional approval. If there are any lender concerns with the valuation, your Neesh Broker will let you know and these can then be addressed.

Step 8

An unconditional approval is issued by the lender. At the same time, they will commence preparation of the loan documents. If your loan requires LMI (lender’s mortgage insurance), approval is sought from the LMI provider. Once the LMI provider approves, then the lender will issue the unconditional
approval and the preparation of loan documents will commence.

Step 9

You will receive loan documents from the lender. Your Neesh Broker will guide you through the process to execute these correctly. Once the documents are executed and signed, they are returned to the lender.

Step 10

Upon receipt of the signed loan documents, the lender will verify that everything has been signed correctly. Assuming all is correct, the lender will then commence the process of booking in settlement.