What you do:

• Arrange for any conditions you may have specified to be met – e.g. confirming finance, arranging valuations, etc.
• Contact us as soon as possible to let us know and formalise your home loan (even if you have a home loan pre-approval)
• Contact your lawyer
• Arrange insurance for your new home.

What we do:
When you contact us we will confirm the settlement day with you and help you work through:

• Your home loan structure – the type of loan and interest rate options that best suit you
• How you want your payments set up
• What bank accounts you’ll need
• What insurance we can help you with (including home, contents and life insurance)
• How you’ll be paying the purchase price e.g. do you have term deposits or other investments that you’ll be cashing up (either for the deposit or for some of the purchase price)?  If so, you’ll need to make arrangements to make sure it’s available when you need it.

What your lawyer does:
After your offer is accepted, your lawyer will:

• Carry out a title search to ensure there are no issues with the title e.g. other claims recorded on the property, or other restrictions you may not know about such as access rights to the property (this should be a condition of your offer.  If you’re buying either by auction or tender you may want to have a title search done before you make a bid or submit a tender)
• Prepare the Memorandum of Transfer which transfers the property title into your name
• If you’re buying the property with someone else, your lawyer will help you decide the most appropriate form of ownership.

If you don’t have a lawyer, see Finding a lawyer in our 'Making an offer' section.

Next page | Step 2: When your offer goes ‘unconditional’ >>

The content on our site is for information only. You should obtain professional advice relevant to your circumstances. Our lending criteria, terms, conditions and fees apply to all loans. Contact us for more details.