Versara’s loan process is simple, flexible and efficient. All aspects are managed in-house so we can move very quickly without compromise we work with you to get the deal done.
A formal application is lodged. Once approved, usually within one hour, we prepare an Indicative Letter of Offer (ILO).
Once we receive a executed ILO, the borrower pays an up front valuation fee - at cost - and Versara will instruct one of our panel valuers to complete a valuation of the security property(s). A residential valuation report is usually available within 48 hours of inspection. The valuation fee can be paid immediately via credit card by calling our office on 1300 228 328.
3. Support Documentation
To assess your loan we require all support documentation prior to settlement. Our checklist is simple, easy to follow and transparent.
4. Prepare & Execute Mortgage Documents
Upon receipt of the valuation report and all support documentation, we will instruct our solicitors to prepare the mortgage documents and send them to the borrower’s nominated solicitor for execution.
Our Legal department sign off on all support documents and the executed mortgage documents. Once all documentation is deemed satisfactory our solicitors will lodge the relevant instrument against title and the loan funds will be transferred electronically. Transfers take 2 to 24 hours depending on the borrowers nominated bank.
At every stage of the loan process Versara will be available and accessible. Together, we will get the deal done. Quickly.
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