Application Process

Submit an Enquiry

When you submit an enquiry via our Compare Home Loans website, a representative will call to understand your key requirements before connecting you with a mortgage broker who will help you get your loan.

Initial Consultation and Loan Application

During your initial consultation, your mortgage broker will ask a little more about your financial situation for them to find the most appropriate loan for you.

After the appointment, you will be asked to provide all the necessary supporting documents such as identification, payslips, bank statements, etc. in order to complete your loan application. Rest assured, your mortgage broker will be there to guide you through the entire process, helping you complete the necessary paperwork in order to apply for a loan.

Conditional Approval

Once the application has been lodged, the lender will either approve or deny your loan. If you receive approval, this will only be a conditional approval and an order for a valuation report may be required.

Unconditional Approval (Formal Approval)

Once the requirements of the conditional approval have been met, it usually takes 2-5 days for the lender to contact you to confirm unconditional approval.

Signing your Loan Documents

Under normal circumstances, it will usually take 5 days until the lender sends a copy of the mortgage documents to either yourself or your conveyancer. Please ensure that you review all documents and seek appropriate advice as needed. You are required to sign and return these documents to the lender within 5 working days.