Loan Processes


With a countless amount of lenders there is now more choice available to you than ever before. So how do you select which loan is the best for you? 


As mortgage brokers, we are constantly up to date with what each lender is offering.  After an initial consultation we can determine what your specific requirements are and make educated investment recommendations that will benefit you.

We will explain which costs and charges are tied to each loan option you have, including any government fees or taxes. We will also look at other options that may make one loan more attractive than another, such as bank fees, minimum repayment terms, or bank bonuses. With all of this information explained by an expert you will be in a perfect position to make the right choice.

All lenders require some or all of the following financial information to ensure you are able to service the loan. Getting all of this information ready as soon as possible will help speed up the loan approval process. The exact documents required varies from loan to loan, but some of them are listed below.

• Payslips
• Letters of employment
• Tax returns
• Evidence of government benefits i.e. Centrelink
• Statements of existing home loans/personal loans/car loans
• Credit card statements
• Identification
We will help you fill out your application forms ensuring they are exactly what your lender requires.

We will submit your application to your selected lender for assessment. The bank will verify the information provided and can perform a valuation on the intended property. The whole approval process can be completed in a couple of days, but generally takes about a week.

Once your application is approved the lender will send out a letter of offer to PMG. We will go through the offer to ensure all information in them is accurate and then arrange a time to sit down with you to explain these documents before you sign them.

If you are refinancing a loan we will also prepare the discharge for you to sign to release your previous mortgage.

Once your bank has received the returned letter of offer and verified its contents your solicitor will be instructed to make arrangements for settlement with the Vendor’s solicitor. Your solicitor will carry out the settlement and inform you when it is complete. Once it is completed you can take possession of the property.

If you are refinancing we will assist in the transition of paying out the existing lender and moving over to the new lender.

Once your property has settled, we will notify you of when your first payment is due. We will also confirm that your direct debit, offset accounts, and any additional lender offers are set up correctly.

We will periodically follow up with you to ensure the loan is still serving your needs. Changes in personal situations, employment, and outside factors like interest rates may affect the serviceability of a loan and we are always happy to find a loan that may better suit you at that time.

Here to help you

Your Loan Expert

David Playfair
Mortgage Broker

David Playfair has a wealth of experience in lending. David has worked for both lenders and brokers and is an expert mortgage broker. Through...

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