What Happens After Your Home Loan Is Approved?

Congratulations — your home loan is officially approved. This is a major milestone, and we’re genuinely excited to be part of your journey.

Understanding what happens after your home loan is approved is essential so you can prepare for settlement, avoid delays and move forward with confidence.

From loan documents through to settlement, here’s exactly what to expect next.

Loan Documents Are Issued

Your lender will issue your loan contract documents, usually electronically. You’ll receive:

Loan offer and terms
Mortgage agreement
Direct debit request forms
Guarantor paperwork (if applicable)

Feeling unsure? We’ll walk you through it.

We’ve estimated your contribution — the amount needed to cover the loan shortfall, legal fees and property adjustments. Your conveyancer will confirm the final figure.

What Are Property Adjustments?

These are shared expenses such as council rates, water bills, or strata fees that the seller has paid in advance. You’ll simply pay your share at settlement from the day you take ownership.

Signing Your Documents, Insurance & Account Setup

Once your loan documents arrive, it’s action time!

Signing Your Documents

Review and sign them as soon as possible
Return them quickly to avoid any delays with settlement

(Don’t worry — we will guide you through every step)

Insurance Requirements:

You’ll need to organise building insurance and provide a Certificate of Currency showing your lender as an interested party
If it’s a strata property, a strata insurance certificate may also be needed

Account Setup: 

Your lender may open a new account for loan repayments and any offset facilities.
You’ll receive internet banking access and possibly a debit card.
We are here to help you get everything set up smoothly.

Need a hand with any of this? Just reach out — we are here to help

Booking Settlement

After document verification, your broker (that’s us!), lender and conveyancer will coordinate with the seller to lock in your settlement date.

Your Pre-Settlement Checklist

You are nearly there! Here’s a quick checklist to keep things on track before settlement day:

Arrange Your Insurance

Make sure your building insurance is in place and the lender is listed as an interested party.

Complete Your Final Inspection

This is your chance to make sure the property is in the same condition as when you signed the contract.

Transfer Your Contribution

Move your funds to either:

Your new loan account, or
Your conveyancer’s trust account
We recommend using your new savings/offset account for a smoother process.

Stay in Touch

We’re here if you have any questions — no question is too hard

Settlement Day & Repayments

On settlement day

The big day is here!

Your lender releases the funds
The property is officially yours
Time to grab the keys and celebrate your new chapter!

Repayments:

Your first repayment depends on your chosen frequency:

Monthly: Starts 1 month after settlement
Fortnightly: Starts 14 days after settlement
Weekly: Starts 7 days after settlement

If your repayment falls on a weekend or public holiday, it will be processed on the next business day.

Example:

If settlement is on 1 July and you choose monthly repayments, your first repayment will be 1 August — or 2 August if the 1st is a Sunday.

We will remind you of everything along the way, but if you’re unsure, just give us a call.

After Settlement — We're Still With You

Just because settlement’s done doesn’t mean we disappear. We’re still here for the long haul.

You can count on us for:

Help accessing your accounts – Need a hand with internet banking or setting up repayments? We’ve got you.

Ongoing rate reviews – We’ll keep an eye on your loan and let you know if it’s time to renegotiate for a better deal.

Future guidance – Thinking about refinancing, upsizing, or investing? We’re ready when you are.

Whatever your next step, we’re just a call away.

We’re With You Every Step of the Way

We are all about keeping things simple, fast, and stress-free — no fluff, no nonsense, just real results.

Have a question? Need support? Or want to talk through your next move?

Spiro and the team are here whenever you need us.

We are not just your mortgage broker for today — we are here for the long haul. Before settlement, during the process, and long after the keys are in your hand, we are by your side