When life demands more room, we’re on your side. Every time. Sphere Home Loans.
Upsizing means more than a bigger mortgage.
The Sphere Home Loans team:
considers the market in light of your changed circumstances
understands it’s unlikely the lender for your first home is the right lender now
looks ahead to your family goals and plans for future intentions to buy multiple properties.
The Home Loan Process
There are 2 phases in our process
Phase 1: Prior to submitting your application
Phase 2: Application submitted
Phase 1: Prior to submitting your application
First Contact - Initial discussion to understand what you’re looking to achieve.
Online Application - Capture personal details, requirements & objectives along with supporting documents.
Options Researched - Review/preparation of lender options based on previous steps.
Present Lender Options - Present and discuss lender options and make a decision on your preferred Lender.
Prepare Application - Preparation of your Application, Lender Pages & Compliance Documents.
Credit Proposal & Lender Forms Signed - Credit Proposal (outlining loan structure) and lender pages will be sent to you for signing.
Application Submitted - Application submitted to the Lender once signed lenders pages are returned.
Phase 2: Application submitted
Conditional Approval: The bank assesses your application and provides you with a Conditional Approval for loans without property. We inform you of your Conditional Approval and advises you of any additional requirements requested by the lender.
Note: your preferred lender may request additional documentation from you at this stage.
Unconditional Approval: Once you have found a property we organise a lenders valuation and inform you when the valuation has been completed. Sphere Home Loans then organises your formal/unconditional approval once all settlement conditions have been met. The lender issues your formal approval and we inform you of your Formal Approval.
Loan Documents: Mortgage documents are issued by the lender and we arrange to have them sent to you electronically or via mail (depending on the lender) or organises to meet with you to offer sign up assistance. Sphere Home Loans works with you to have the signed documents checked and returned to the lender for settlement preparation.
Loan Settlement: We work with your solicitor to ensure that settlement occurs smoothly and without delay.
It's never too early to speak to a broker
Our team of mortgage brokers helps you answer key questions:
How much can I borrow?
How can I use the equity in my current home?
Can I pay the higher mortgage repayments?
Have I factored in all the costs of a larger mortgage? What about Mortgage Lenders Insurance and stamp duty?
How can I factor a renovation or knock-down-rebuild into my mortgage?
How can I structure my loan so it fits in with my long-term property strategy?
How can I compare the potential mortgage of upsizing, to the refinancing required to renovate my existing home?
It’s free to talk to our expert mortgage brokers. Call us now.
The Sphere Home Loans team helps you:
