The borrowing process, made simple

Whilst borrowing money can seem complex, we have made it simple through our logical and well defined process. Read below to understand what to expect.

Everyone has a busy life. Our first priority is to get you the best outcome that will set you up financially, but that doesn't mean a cumbersome process. We separate the strategy from the execution to ensure we first understand what you're trying to achieve and then we can move rapidly to selecting the right solutions and getting them in place for you.

We can meet face to face for our Sydney clients, but most people opt for conversations over the phone or video conference. A small investment of your time can make a huge impact financially.

Initial consultation

What it is

The intitial consultation is a low stress discussion with two objectives:

Help our brokers understand you - what you're looking to achieve, your current circumstances (mostly financial) and any specific requirements you may have.
Make sure you understand the process and feel empowered - we pride ourselves on building financial confidence and literacy in our clients.

What you will need

There are a few things you can do to prepare for this meeting:

As clear a view as possible of what you're trying to achieve - it's fine if you're still figuring that out, but the clearer you are, the faster we can help you.
Information about your finances - income (salary, rental, investments), expenses, current loans and any significant assets.
Any specific requirements such as timing or specific challenges that you're looking to solve - either for now or into the future (eg how am I going to pay for my kids education).

What you will get

After the meeting, we will send you:

A statement of position in which we will confirm what you have told us about your financial circumstances.
A statement of objectives in which we will confirm the objectives (and any constraints) you have set for us.

Strategy and Planning

What it is

After the initial consultation, our brokers will create a strategy unique to you and your objectives. This meeting will include:

Presentation and discussion of the strategy - outlining how it will meet your objectives and any challenges that need to be overcome.
If there are different options to consider, a discussion of the options and relative merits of each different pathway.
Planning for the chosen strategy and an explanation of the requirements to move on to execution.

What you will need

Very little is required for this stage of the process as this is where our brokers bring their years of experience to help you find the best solution for you. A few things that definitely help:

If you have a number of objectives (eg lower repayments, borrow more), having a view on which are more or less important will help us if we need to make trade off decisions.
If you are borrowing money with someone else (spouse, partner, friend, family) then making sure you are well aligned on how you are thinking about borrowing money helps a lot!

What you will get

After the meeting, we will provide a recommendation for approval and execution, including:

A statement that outlines your objectives, the chosen strategy and initial recommendations for execution.
The execution plan will include product recommendations covering the proposed product structure, the fees and interest rates and other key financial information (such as repayment amounts, loan term and so forth) so that you understand the decision you are taking.

Execution

What it is

After we have presented the strategy and plan, we can move immediately to execution or if you have questions or changes you want to make we work with you to refine the plan ahead of putting it in place.

Presentation and discussion of the strategy - outlining how it will meet your objectives and any challenges that need to be overcome.
If there are different options to consider, a discussion of the options and relative merits of each different pathway.
Planning for the chosen strategy and an explanation of the requirements to move on to execution.

What you will need

This is where the rubber hits the road, and you will need to supply some information. Where possible, we seek this information digitally, but many lenders still require some documents. Typical requirements include:

Proof of income - usually payslips for PAYG employees, BAS statements, Tax returns and accountants letters for self employed clients. If you have rental income, evidence of that income will be requested.
Bank statements - frequently lenders require 6 months of bank statements, however this is one area that is increasingly being sourced digitally through bank scraping and open banking.
Savings and Asset documentation - in particular for first home buyers, most lenders will want evidence of how you saved your deposit (i.e. that it wasn't a gift last week from a relative).
Expenses - we will have covered your expense base earlier, but first home buyers also typically have to show proof of rent being paid as this is seen as an expense that is replaced by mortgage repayments (i.e. if you're already paying rent close to your mortgage repayments, it's a great argument for your ability to meet your repayments!).
Liabilities - if you have credit cards, personal loans, buy-now-pay-later, car loans or any other form of debt we will need information regarding the credit limit and the current balance along with any repayment commitments.
Property information - for a new purchase this will be the contract for sale; for a refinance this is usually a title search (something we can source for you).
Identification - one of the last requirements, but an important one will be verifiable identification to prove you are who you say you are! This is typically covered by Passport, Drivers License, medicare and bank cards.

What you will get

We will lodge your application(s) for finance on your behalf, ensuring that all the lenders requirements are met with a minimum of fuss. The lender will then review your file and if all is in order approve the loan.

Lenders frequently have follow up requirements - these might be extra information or they may approve the finance subject to meeting certain conditions (eg closing a credit card or reducing your credit card limit). We will manage this process for you to get to end of job.