Mortgage Flow Chart

Download and complete relevant application form

• The application form needs to be completed in full and signed by all applicants. It is essential that you fill in all your details carefully and correctly.
• Currency of loan must be selected. Montpelier can assist in making this decision as different currencies carry different interest rates.
• Typical acceptable currencies include
  • Australian Dollars (AUD)
  • Singapore Dollars (SGD)
  • New Zealand Dollars (NZD)
  • United States Dollars (USD)
  • Euro (EUR)
  • Great British Pounds (GBP)
  • Hong Kong Dollars (HKD)
  • Japanese Yen (JPY)

Provide proof of identification and address

• Need to provide a certified clear copy of current ID card or passport with photo and signature pages.
• Passport must be valid and show date of birth, place of birth and signature, the same as on application form.
• Remember to enclose copies for any joint applicants.
• Banks will provide details of acceptable certification of passport.
• Confirmation of address includes
  • Gas or electricity bill
  • Telephone bill (not mobile)
  • Local authority rates bill
• For joint accounts need to provide original utility bill addressed to each party, either jointly or individually, or an original mortgage statement, bank or credit card statement from a recognised bank addressed to each party, either jointly or individually.
• All documents must be less than three months old.

Complete checklist – Provide:

• ID/Address verification
• Confirmation of regular income – latest 2 years tax returns/assessments, latest salary advice etc
• Deposit receipts/bank statements etc to support above
• Estate agents/valuers brochure inc pricing list
• Preliminary purchase agreement (if applicable)
• Existing tenancy agreements (if applicable)
• Current building insurance (refinancing only)
• Loan, overdraft and current account statements
• Brief background of employer

Chosen bank carries out credit processes

Bank approves application, issues formal offer letter

Client signs letter, sends back to bank

Bank instructs valuer/solicitor in country of purchase to proceed with mortgage documents

Solicitor asks bank for loan advance

Client makes payments quarterly in arrears