At Feel Good, we want you to feel in control, be prepared for the journey ahead and celebrate each small win! That’s why we’ve created this step by step guide, so you’ll know what to expect when you use a Mortgage Broker to find you a great home loan!

A typical application will go through the following 6 stages;

1. Lodgement

Your application has been lodged to the lender by the Mortgage Broker. You will be advised of the estimated turnaround time before your application is due to be assessed by the lender.

2. Conditional

Your application has been assessed by the lender and has been granted Conditional Approval. You will be provided a list of the conditions, if any, and asked to supply further documents or information to assist with the assessment. If it hasn’t already been done, a valuation will typically be ordered to confirm the value of the security property. Your Mortgage Broker will arrange this for you.

3. Unconditional

Your home loan application has been formally approved. Mortgage documents will now be created and emailed or posted to you to sign.

4. Documents Issued

Once you receive the Mortgage documents, read them thoroughly and ensure you understand what you are signing. Ask your Mortgage Broker for help if needed. When you return the signed documents to the lender, they will be checked and ‘certified’ and a settlement date will be booked.

5. Settlement

Purchase; Your Conveyancer will act on your behalf at settlement, exchanging funds with the seller’s Conveyancer. You will receive the keys to your new home and your loan will become active.
Refinance; The lender will act on your behalf at settlement, exchanging funds with your previous lender. Your old loan will be paid out and your new loan will become active. Construction; A letter of commencement will be sent to your builder, allowing them to start build on your new home.

6. Post-Settlement

Follow ups will be scheduled for 1 month, 6 months and then yearly following the settlement of your home loan to ensure the loan is setup correctly and remains to be the most suitable solution for you.

We work together as a team, you are updated at each stage and encouraged to ask questions along the way. If you have any questions or would like further information please get in contact here.