Loan approved, what happens next?

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• Your broker will be notified by email when your home loan is approved

and will let you know.

• Your Loan Contract Pack is being prepared.

When: Approval day

• We will send your Loan Contract Pack by post either to you or your nominated Solicitor or Broker, as requested in your loan application.

When: Day after Approval day

• Carefully read all the documents in your Loan Contract Pack. Accurately complete and sign the relevant documents and return these in the prepaid envelope enclosed.

• Once your documents have been received, they are checked and verified.

• Your broker can track the progress of your loan.

When: Day after signed documents received

• Your settlement date will be confirmed through your Solicitor or Conveyancer.

When: Generally 2 days before Settlement

• Your Broker will receive an e-mail confirming that your loan has settled.

• You will be posted your Settlement Statement and your Broker will be e-mailed a copy.

• Surplus funds (less loan disbursements1) will be made available via: cheque by post; or direct deposit into your bank account; or your loan account to redraw at any time.

When: Settlement day

• You will receive your login details to StarNet and StarCall by post.

When: 5 days after Settlement day

• You will receive a welcome letter detailing your loan account and repayment information along with a brochure detailing easy ways to manage your loan.

When: 10 days after Settlement day

• If you requested a Debit Card when you applied for your loan, you will receive your Debit Card and PIN for this card by post.

• Your PIN and card will come in two separate letters for your security, so check your mail regularly during this time.

When: 10 days after Settlement day

• Your first loan payment will be drawn from your bank account by direct debit one month after your loan Settlement day2.

When: 1 month after Settlement day

1 Options apply to variable rate loans only and are based on borrower instructions in the ‘Direction to pay’ form within loan documents.

2 Ongoing repayments will revert to frequency as nominated by Borrower in the ‘Direct Debit Request’ form within loan documents.