Loan documents and the signing meeting
The bottom line
Sign the loan documents with us at least three working days before settlement so the bank can release funds.
The bank sends the loan agreement, the mortgage and the authority forms to us, usually in the last week or two. We go through them with you: the repayments, the break fees, what happens if you miss a payment, and the mortgage itself. The signed documents go back to the bank, and only then will it release funds on settlement morning.
Leave this to the last day and settlement will be late.
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How I explain loan documents to first home buyers
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Book your signing as soon as we tell you the documents have arrived
Check yourself
Who sends the loan documents to you?
The bank sends them to your lawyer.
What happens if the signed documents reach the bank late?
The bank may not release funds in time and settlement is delayed.
Name two things in the loan agreement worth understanding.
Repayments, break fees, default terms, the fixed-rate period.
Talk it through
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