Home loan application with less paperwork, here's how!
The amount of documents a broker will ask for when applying for a home loan can seem huge - but we have some time saving ideas that can make it pretty easy, or so our clients tell us 😊
When enlisting the services of a broker, you will require the following documentation:
Identification, including photo ID such as driver’s licence
Income verification documentation such as recent payslips or tax returns
Statements such as savings accounts and from any current credit facilities (think home loans, investment loans, credit cards, car loans, etc)
Purchase contracts for a home loan, including building contracts, or plans if building
Normally you have to fumble through old filing cabinets to find the documents, and then get them to the lender/broker via post, in person, or by email.
We have instituted technology that makes the whole process a lot quicker and easier! Our document portal technology sends you an email with a link to our portal on our secured server. There is a list of every document you will need to provide, and handy instructions describing the specifics about the documents.
Our document portal operates on both your phone and computer. If you are using your phone, for example, you can take photos of documents, like passports, and upload the photo to the portal immediately, easily ticking that one off your list.
Statements are a bugbear for a lot of clients so we have taken up a service that is integrated with our document portal. When you open the statements section, you click on a link that takes you to CashDeck . From there you choose your bank, enter your internet banking details (we don’t see that), and CashDeck sends all your statements in perfect order to us. It’s that simple!
Once you have uploaded all of the required documents to our portal, you click “I’m Done” and it advises us to get in to gear and get you an approval!
Instead of squeaking the draws of the old filing cabinet open and sending documents the old fashioned way – by snail mail – we have initiated a procedure that cuts out a lot of time and a fair bit of effort too. Our customers are loving the ease of both accessing and providing documents for their loan application, and the quicker time it’s taking for them to get approval.
