GET A HOME LOAN FROM A FINANCIAL INSTITUTION
The process of applying for a home loan when purchasing a property is prone to be a very stressful and a rather intimidating task to perform. Involved in the home loan registration process are the following key persons:
- Estate Agent
- Transferring Attorney (appointed by the seller)
- Bond Attorney (appointed by the bank)
- Canceling Attorney (appointed by the bank)
- Bank Credit Manager
CKM Home Loans is not an estate agent or financial institution. Rather, CKM Home Loans is a bond originator who has the objective of making home loan registration and the home loan process in its entirety run as smoothly as possible. CKM Home Loans offers their assistance to all those looking to take out a home loan and is in turn able to make this task seem so much more like a walk in the park.
The Home Loan Process
To make sure that you end up with the best home loan for yourself, follow each and every step of the home loan process. CKM Home Loans suggests avoiding taking shortcuts because by strictly keeping to the home loan process you can ensure that the home loan you apply for is what you are in fact needing.
As such the home loan process includes the following steps:
- The Offer to Purchase
The buyer and seller come to an agreement and both sign the offer to purchase. The buyer then applies for a bond or home loan. Click here to apply online. We offer a free service and professional advise.
- Bond or Home Loan Approval
Your home loan or bond is approved, and the bank instructs the bond attorney to register the home loan ( bond ).
- The Transfer of Property
The seller then advises the transferring attorney to transfer the property, and the title deed and cancellation figures are requested from the bank who currently holds the bond or home loan over the property. Then a statement of rates and taxes ( Rates Clearance Certificate ) is requested from the local authority.
- The Bond Attorney
The bond attorney contacts the transferring attorney, and advises the transferring attorney of the amount available for guarantees. The transferring attorney then requests for the title deed and cancellation figures.
- The Cancellation Attorney
The cancellation attorney is then requested to cancel the sellers home loan ( bond ) on receipt of a guarantee for the outstanding amount owing.
- The Transferring Attorney
The transferring attorney now receives the title deed and cancellation figures and sends off a copy to the bond attorney. The buyer and seller are now contacted to sign the transfer documents. Once this has been completed, the buyer now pays the transfer costs and the transferring attorney then pays the transfer duties, rates and taxes.
- The Bond Attorney
The bond attorney now prepares the home loan ( bond ) documentation with the buyer. The buyer then signs and pays all the costs involved. Next the bond attorney prepares and issues the necessary guarantees, forwards them to the transferring attorney and then gets the documents ready for lodging the Deeds Office.
- Transferring Attorney
Once the transferring attorney receives all the guarantees, they are the forwarded to the canceling attorneys.
- Cancellation Attorney
The cancellation attorney gets consent from the lending bank to cancel the sellers home loan ( bond ).
- The Deeds Office Once all the documents have been signed and all the costs have been paid, all the documents are lodged at the deeds office by all the attorneys concerned. It takes about two to three weeks for the Deeds Office to check the documentation and then all the attorneys are contacted once it is ready for final registration which takes place on the same day.
- Bank Pays the Loan
On the day of registration the bank pays the Loan. Generally it takes at least a month or two for the registration and transfer of a Home Loan ( Bond ).
(Note : One attorney can handle all the above procedures, simplifying the whole process.)
Reliable Assistance in the Home Loan Process
CKM Home Loans will be with you every step of the way in the process of applying for a home loan. They will even fill out the home loan application for you! They will guide you through the entire process, making your property transfer as simple as possible.
CKM Home Loans has the ability to awe with their outstanding home loan assistance service which is combined with expert advice and a desire to get for each client a home loan that will suit their personal finances and particular needs and requests. Why not give them a go and Click Here to fill in an online application form and one of CKM Home Loans' consultants will contact you.
You have nothing to lose. Give yourself the chance to let CKM Home Loans awe YOU!!
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