Debt Consolidation Home Loans

People involved in the process when obtaining a Debt Consolidation Home loans

The Debt Consolidation Home loan process is quite intensive and each step requires consistant and constant follow up with the service providers. The service providers are:

• Credit staff
• Valuers
• Valuer Administrators
• Settlement staff
• Assessment officer
• Solicitors
• Each of the creditors/ debtors
• Exiting Mortgage lender
• Recovery staff and repossession agents
• Debt collectors
• Client

The Loan Process for Debt Consolidation Home loans

1. Obtain Credit check of client
2. Obtain statements for all debts
3. Obtain 12 months in statements for mortgages
4. Complete application form and other supporting paperwork
5. Loan submission
6. Loan assessment
7. Conditional approval
8. Satisfy any conditions
9. Valuation
10. Formal approval
11. Solicitors instruction to produce documents
12. Documents sent to client
13. Documents completed and returned to lender.
14. Settlement booked with exiting lender and other creditors.
15. Obtain certificate to ensure property insured
16. Settlement of debt.

At any stage in the above process the loan could easily fall over. The services of a qualified experienced broker is paramount to a successful loan settlement.