After your broker submits your application to us, a few things happen.
When they submit, we:
Instruct a valuation of your property to see if we can lend on it
Run a hard credit check on you and any other applicants
Lock in the mortgage rate your broker has selected for you
Then your application goes to our underwriters.
Our underwriters are a lovely team of people who review each application to make sure that each property and applicant meets our lending requirements.
If they need any more information, they'll reach out to your broker directly. So if your broker asks you for another document or more information, it's important to answer them promptly and accurately to keep the process moving along.
We always review each application as quickly as we can, and our timelines can change. Generally speaking, it can take several days for our underwriters to give an initial assessment of your application.
Once we have everything we need and we're sure everything checks out, we can issue your mortgage offer – exciting!
We'll send it to you and your mortgage broker – and next, you're off to conveyancing.