We understand that applying for a loan or embarking on a new financial journey can be daunting. To help you understand the process and know what’s coming next, we’ve developed our SWB Way – a detailed breakdown of the process and of how we structure our ongoing relationship.
Whether it’s buying your first home, starting that renovation you’ve been planning, refinancing to meet your ongoing financial requirements or getting ready to invest in property or shares, the first step is for us to understand your goals and where you’re headed. Because finance is not a “one size fits all” approach. The best strategy for you may be completely different to that of your neighbour or friends – because your values, circumstances and goals are all different.
So we listen! We don’t get you to just fill out a form or tick a box…we really listen – to your dreams, your goals, your circumstances, your limitations, your beliefs, your fears. We want to understand you so we can come up with the best solution for you.
So our “Discovery” step includes:
Once we understand more about you and what you’re hoping to achieve, we go to our network of over 26 lenders to assess the products on offer. It’s not just about low interest rates, but about loan terms, fees and restrictions – a whole range of factors that determine whether a loan is right for you. That’s our job – to understand the hundreds of products on offer and be able to recommend those that are right for your unique circumstances.
This step includes:
• After assessing and determining the most appropriate products, we present you with a selection of lenders / banks and their loan products (including all fees and monthly repayments).
• We break down the costs and repayments and transaction costs of the different loan products.
• We discuss the most appropriate options for you, sharing the pros and cons of each product so that you know exactly what the product entails and how it can benefit you (including customer service, technology, flexibility and more)
• We work through your budgets with you, highlighting how extra repayments per month on the home loan can benefit you in the long term, and looking at the various scenarios available to you.
• We point you in the direction of tools on our website that can help throughout the process.
Once we provide a recommendation and a product has been selected, it’s time to move the process along – often daunting for borrowers who have to jump through hoops, tick a million boxes and pull together the documents needed. But our processes and experience help us to simplify this. We guide you through all that’s needed, and have digital processes to simplify and lessen the burden on you.
• Once the application process begins we use the portal link we sent you in Step 1 to upload the required documents.
• We have access to your bank statements via bankstatements.com, which provides a secure link that allows you to download your transaction history – saving you time in having to access statements from your different accounts.
• We provide you with a “Home Loan Shopping Check List” and all communication is via your portal – one streamlined and easy process.
• We provide ongoing updates from our team each step of the way and we’re available to answer any questions or provide any support.
• Our online system allows us to send documents that you can sign digitally and return via email to speed up the application process.
• The loan application is then lodged with the lender, and we monitor until it has been formally approved. We act as your representative with the bank and liaise with them at every step and keep you informed.
Sometimes you have access to all of the services you need. But at other times, you’re not sure who to turn to and don’t have anyone you can trust. We are here to help – to act as your financial concierge. We can refer you to our trusted partners in a range of services including real estate agents, property valuers, financial planners, accountants, car brokers, Insurance brokers, stock brokers, quantity surveyors and more.
When all the i’s have been dotted and all the t’s crossed, we guide you through the settlement process.
• Once we call to congratulate you on the approval of your home loan (within 24 hours of approval form the bank), our customer service team take over to support you through the settlement process.
• We let you knowhow you will receive your loan document and if a solicitor or outgoing bank is involved, we make contact with them (to take the burden from you and save you time and energy).
• We provide updates every 48 hours where required, and communicate any additional requirements leading up to settlement (such as insurance certificates, direct debit approvals, funds to complete settlement and where the client needs to send those funds).
• We meet with you to sign your documents (or can provide them online and talk it through via phone / Zoom)
• Once documents are returned, we call the banks to ensure all documents are in order. (If anything is missing we get in touch asap to continue the progress of settlement)
• We liaise with the client and bank 72 hours prior to settlement to ensure everything is on track.
• Once the loan is settled, we touch base within 72 hours to make provide the loan number, remind yuou of the monthly repayments and finalise any additional details (such as internet banking / ATM cards if needed)
Our relationship with you doesn’t end once the loan has been settled … ongoing education and support; annual check ins; monitor for opportunities…stay in touch.
• One month after settlement we get in touch to make sure your direct debits are working and everything is ok.
• We then get in touch at least once a year to check the loan is working for you and to make sure your circumstances or needs haven’t changed.
• At any time we’re available to connect you with our financial partners.
• At least annually (if requested by you) we are able to get in touch with your lender to review your loan (at no cost to you). (Last year we saved our clients more than $100,000 combined in interest, just be going to the lenders and asking them to reduce client’s rates.)
• We stay in touch with useful information and education to keep your eyes on your financial goals and the steps that will help you get there.
We’re here to help you make the most of your financial opportunities. As your home equity grows or life circumstances change, we can help with refinancing, investment and other opportunities. Our aim is to be your trusted partner in finance at every stage of your financial growth.
• We provide clients with property reports on request, letting you understand the value of your home and see if you can buy an investment property, renovate or upgrade your house.
• We put you in contact with our trusted partners (including financial planners or stock brokers) to help you take steps towards financial growth and asset protection.
• We can also provide the tools (via our SWB Money Hub) to manage your finances and stay in control, letting you move step-by-step towards your financial goals (and letting you see when you get off track).
• This support and knowledge lets you identify opportunities for financial growth and security.
