WELCOME TO PREMIUM BROKER
Thank you for your enquiry and welcome to Premium Broker.
Our objective is to get you the best loan and to make the process as EASY as possible.
This may include sending you documents to sign electronically, video conferences and digital statements.
it is important that all applicants provide their own individual email addresses - joint email accounts cannot be used.
Below is some helpful information our our Credit Guide and our Loan Process to get started.
If you have some questions so please do not hesitate to contact your broker.
OUR 10 STEP LOAN PROCESS
The entire process depends on how quickly we provide the lender with information, and how quickly lenders respond to your application.
Please allow plenty of time for each stage and let your broker know when finance is required.
1. CREDIT GUIDE & PRIVACY FORM (E-sign)
You will be sent a Credit Guide & Privacy Form to sign electronically*
Premium Broker Pty Limited hold an Australian Credit License 392625.
Our Credit Guide will provide you with information regarding the services we provide.
This includes our responsible lending obligations, our relationships including commission and dispute resolution processes.
Our Credit Guide is available in the link below and may receive and electronic version and other copies of it over the next few days.
Once you have signed the privacy form, Premium Broker may access your credit report via Equifax.
This access does not leave an enquiry and does not affect your credit rating.
2. DOCUMENTS REQUIRED & CLIENT PORTAL
We will send you a list of Documents Required.
These are a non exclusive list of documents such as your ID, Payslips, Bank Statements.
We may also send you a link to our Client Portal which will include a URL Link and a PIN sent to you via text.
The client Portal will allow you to fill in some information relating to you objectives and personal situation.
Link: www.premiumbroker.com.au/client portal
3. FACE TO FACE INTERVIEW
Depending on the lenders requirement your Broker will be required to have a phone, video or face to face interview.
You will be required to bring you ID so the broker can ID you according to the lenders requirements.
4. LOAN RECOMMENDATION & STATEMENT OF CREDIT ASSISTANCE (E-sign)
You will be sent a Loan Recommendation document to sign electronically*
This document is called a Statement of Credit Assistance and includes:
a) Fact Find (the information you have provide us)
b) Loan Recommendation & Comparisons
c) Compliance, Disclosures & Authority to Proceed
Your signature/approval is required - allowing us to submit the loan on your behalf.
5. LOAN SUBMITTED & BANK PRIVACY FORMS (E-Sign)
You will be sent the lenders Privacy Form to sign electronically*
Only when you are ready Premium Broker will submit the loan to the lender of your choice.
The lender will complete a Credit Enquiry at this point of time.
You may receive an indicative computer generated approval at this time.
Once submitted, most banks have a pre-credit team to check all the documents provided are legible and meet minimum standards.
A credit manager, who works for the lender, will check the documents and make a decision.
They may issue a Conditional Approval which will include some additional information.
Most often this is an approval subject to valuation or a requirement to present additional documents.
In most cases a valuation needs to be ordered and found acceptable by your lender.
Where possible Premium Broker will order this prior to submitted the loan.
Once this is completed, your lender can finalise the credit assessment process and issue a Formal or Unconditional Approval.
If you are purchasing a property you should also send this to your conveyancer or lawyer
8.DOCUMENTS ISSUED (E-sign)
You will be sent the lenders Loan and Mortgage Documents to sign electronically*
You will be required to sign/certify these documents and mail back to your lender.
9.CERTIFIED & SETTLEMENT BOOKED
A few days after returning the documents, your lender will check the documents and all outstanding requirements.
This is called certification. Once completed your lender will book in settlement via an electronic system called PEXA.
Your solicitor may need to invite the Lender to the PEXA Deal.
On the settlement day, funds and titles exchange hands and loan/offset account details are set up.
*Electronic Signatures are not always acceptable by all lenders in which case you may need to print, sign and return the documents via email or post. Your broker will advise.
It is normal to have a lot of questions - so please just let us know.