From application to settlement

WHAT HAPPEN WHEN	WHAT THE BANK DOES
Week one Loan approval & documentation Tip # 1 - To process your loan as quickly as possible, bring documents (such as your 2 most recent payslip) to your loan interview. Refer to your appointment card for a complete list of documents you're required to bring to the interview. Week two to week three Signing & returning of documents Tip #2 - To help us ensure your settlement occurs on the required date, please ensure that all documents are signed, witnessed and returned to the bank ASAP.	We assess your application for finance for a Home/investment Home loan. In most cases we will advise you whether or not you are eligible for the loan at the time of application. Otherwise we will endeavour to contact you within 1 business day regarding the status of your application. Your Load offer & Mortgage documents will be mailed to you within approximately 2 business days of approval
Week Three to Week Five Exchange information Tip #3- Your solicitor/conveyancer should advise you of the settlement details a week before the settlement date. Your legal representative confers withthe bank to agree on a time and place for settlement if a new purchase is involved.	The bank exchanges information with your legal representative and/or other financial institution(if refinancing an existing home loan) to ensure all legal requirements are met and payout figures and discharge of title, etc. are provided in a timely manner.
Week five to Week six Settlement takes place Tip #4- The sellers solicitors should advise your real estate agent to hand over the keys to you once settlement has taken place.	Settlement takes place The Bank debits your previously nominated account or related account with stamp duty and registration costs. Title Deeds and Mortgages are registered as the Titles Office to transfer property ownership.
After Settlement	Shortly after settlement, you will receive a letter in the mail confirming your loan has been funded. You will also receive a Welcome Pack, full of information to help you manage your loan effectively.