First Home Buying Simplified

Buying your first home can be a daunting process. Simply Home Loans simplifies this process with the three P’s: 

  1. Planning
  2. Purchasing
  3. Processing settlement


  • Set a savings goal
  • Start a monthly budget
  • Plan for total costs involved in buying a property not just the purchase price
  • Meet with your Simply Home Loans specialist to obtain a pre-approval. This will help you when looking for property and negotiating a price. Knowing how much you can borrow and the deposit required makes the planning phase much more effective
  • Choose a solicitor/conveyancer to handle the contract of sale 


  • Pre-approval, check, found the property, check. Time to make an offer. Once accepted a Contract of Sale will be drafted and you will be required to sign the contract. At this stage, generally, you will be required to pay a holding deposit.
  • Organise a meeting with your Simply Home Loans specialist to complete the home loan application and if you meet the criteria a First Home Owners Grant Application Form.
  • Conditional approval (subject to valuation and any specific conditions in your contract), check.
  • Arrange home insurance, once the contract goes unconditional generally the bank requires that you are required to hold insurance over the property.
  • Arrange for your building and pest inspections, pool safety inspection (if applicable).
  • The valuation is generally conducted by an independent valuer appointed by your lender.
  • Once the inspections pass and the valuation is in and passes contracts will be exchanged.
  • Your solicitor can now advise the vendor’s solicitor that you are proceeding with the purchase and your 10% deposit will be payable. Don’t have the cash up front? No need to worry, your Simply Home Loans specialist can arrange for a Deposit Bond to have the monies taken from the loan amount.

Processing settlement

  • Final contracts are exchanged. Settlement generally takes place between 28 to 90 days from the date of the contract.
  • Loan documents will be sent to your solicitors
  • Sign the documents and return them to the bank.
  • A date for settlement can now be booked.
  • Settlement occurs and keys can be collected from the vendors’ agent.
  • Congratulations! Moving day is here!

Ready to take the plunge into property purchasing? Contact a Simply Home Loans Specialist today.

Terms & Conditions