The 7 Steps of Lending
1. Meet and Greet
Make a time to meet & chat face to face or over the phone and capture Information about you to understand what we can assist you with. details we will need to know- last 2 years employment history – assets & liabilities -basic living expenses – all this information is a vital and part of Information used to ensure you are Borrowing within your means Objectives & Requirements.
2. How much Can You Borrow
We Look at your current income we consider current/future living and financial commitments to determine what you can borrow. What we need to also consider is length of employment as well as employment type and working history.
3. Plan A Strategy
We Create your loan structure considering your objectives and requirements - we look at what type of type of transaction refinance or purchase, security type and the loan required.
4. Lenders & Products
We source the lenders and product types that fit your needs - What we must consider, does your profile meet the lenders requirements, do you have Genuine savings, How much deposit you have, does your employment history fit.
5. Cost Involved
Lender Interest rates, setup cost and ongoing fees- this will be outlined in our loan comparison report
6. Type Of Loans
This will be determined by the type of property you have, is it an Investment or an owner occupier property? Interest only or principle & Interest.
7. Moving forward
Moving forward - at this stage we have a holistic understanding of your current and future needs, we have identified a loan structure with a lender that meets your needs and requirements. Once the decision is made we collate all the information package it & ready to submit to the lender for consideration.