FINANCE SERVICES
Purchasing a Home to Live In
At Able Finance Services, we believe it is important that you, the customer, know where your loan is at every step of the way. In order to ensure that you are aware of how long certain processes will take we have provided you with a point to point run down of an average Home Loan Process.
The Able Finance Process
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You study your personal situation to analyse how much you think you can afford. This can be done through Able Finance Services range of Calculators
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You Contact Able Finance Services to Enquire for a Home Loan or Investment Loan
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Able Finance Consultant researches our Lender Panel for the best loan option that caters to your needs. Your consultant will provide you with several options with an outline of each Lenders Products and Features
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Able Finance Consultant advises you of what the Lender will require in order to process the loan. If you are a First Home Owner your consultant will inform you if any extra documentation is needed
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Once you have collected all documents required by the Lender, please ring your Able Finance Consultant to make an appointment to bring in your documents
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Your selected Lender/s Loan Application can then be completed with your professional Loan Consultant
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Once the Lender/s Loan Application is fully completed our Loan Consultant will submit the Loan Application to the Lender/s
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The Lender/s will reply with a Pre-Approval within 2 days, which may be subject to some conditions. The Loan Consultant will advise you of the conditions of the loan
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If a Valuation is applicable then the Lender/s will order the Valuation
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The Valuation will take up to 5 days from when it is ordered
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Once the Valuation is complete and at the required value, the Lender will proceed to Formal Approval which should take no more than 2 days from when the Valuation is returned
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At Formal Approval your Loan Consultant will contact you acknowledging Formal Approval and, if you are Refinancing, advise you to supply a Discharge Authority to your current Lender. Your Able Finance Consultant will assist you in this procedure
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Loan Documents will be sent to Able Finance Services and may take up to 3 days
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Once Able Finance Services receives the Loan Documents, you will be contacted by our Expert Settlements Staff who will arrange a suitable time for you to come in and sign the Loan Documents
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Once the Loan Documents are complete, our Settlements Staff will oversee the settlement’s process, liasing with all parties concerned
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Settlement can take from 7-10 working days
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Overall time from interview to settlement – 15-25 working days