There are a number of things you can do to avoid delays in your home loan process:
Legible copies of documents
Do not send blurred or unproperly scanned copies of your documents. Those will be considered illegible by the bank and will not be considered. Avoid, waste of time in going back and forth on illegible documents.
Complete the Fact Find form in full
The banks need all the information requested on this form to understand your circumstances and full financial situation. Any incomplete copies will be returned and will further delay the loan process.
Bank statements
Please note that the bank statements are reviewed by the bank for different purposes. For E.G. to confirm salary credits, to find out any undisclosed debts, to see your account conduct with your current financier and to work out your monthly living expenses. In current lending environment they are must, hence please follow our checklist carefully. The statements sent should be in PDF formats and should clearly show Lender’s logo, your name and account numbers.
Make no mistakes
If you make a mistake with any of your documents the lender will send your entire loan application back to be redone. This will cause huge delays if you’re overseas.
Use black or blue pen only
Make sure the witness clearly writes their full name
This includes middle names and their full address. If an initial is used or their writing can’t be read then this won’t be accepted.
Witnesses must be over the age of 18
They must also be present when you sign the forms and must not be a part of the loan transaction (i.e. two borrowers cannot witness each other’s signatures).
All signatures are provided and dated
Double check that all required signatures, including authorised witness signatures, have been included on all the relevant documents and dated.
Fill in all forms correctly
Call our friendly team if you’re unsure of how to fill in a form.
Check everything twice
Do this before you send it back to the bank.
Include a copy of your building insurance
You may need this when you send the loan documents back with the lender noted as the interested party, but it depends on the lender.
