The home loan application process – step by step


Your objectives and needs

So that we can find a suitable loan for you, it’s important for us to understand your objectives and needs for getting a home loan.

Please contact us and we’ll send you the Aurora Enquiry Form and the Credit Disclosure Report. Please complete and return these to us. We’ll then be able to calculate your maximum borrowing capacity and prepare a Product Comparison Report for you. We’ll also assess your affordability and prepare and send you a Preliminary Credit Assessment.

Your application

When you’ve decided on the amount you want to borrow and a suitable lender and product, we’ll help prepare your application and submit it to your chosen lender.

Conditional approval

After the lender has made an initial credit assessment of your application you should receive a conditional approval.

We’ll keep you updated each step of the way.

Property valuation

If you’ve purchased a property, the lender will then generally order a valuation.

While the valuation is being completed, you should satisfy any conditions in the conditional approval.

Formal approval

After the valuation has been conducted and the report is received by the lender, the lender will undertake a final assessment of your application and generally issue a formal approval.

If your application needs Mortgage Insurance, your application will also be submitted to the Mortgage Insurer for their approval.

Loan documents

When the formal approval is issued, the lender will instruct their legal team to prepare and send to you the mortgage documents.

You’ll need to arrange building insurance and remember to note the Lender as the interested party. Include a copy of the insurance policy (or Certificate of Currency) with the completed documents you return to the lender.

Settlement of your property

Your signed documents will be verified and settlement will be booked. Your loan is drawn down on the day of settlement and is in place from this time.

After settlement

A few days after settlement, we’ll contact you to ensure that your loan account and other accounts are properly established. We’ll also contract you on a regular basis to check that you’re happy with the lender and that the loan product remians suitable.