Approval starts the legal stage
Loan approval and bond registration are different stages. After you accept the bank's offer, it appoints a bond attorney and issues the instruction. Ask your bank whether WDS can be appointed and use the loan reference when contacting the appointed team.
Know the amount and the costs
Confirm the bond amount to be registered. A lender may offer arrangements that register more than the initial loan, so do not assume that the purchase price, loan balance and registered bond amount are identical. Ask for the bank's charges and the attorney's costs separately.
Signing and registration
The appointed attorney requests documents, arranges signatures and prepares the registration paperwork. Read the loan documents and ask about any term you do not understand. Where the bond accompanies a purchase, the transfer attorney and bond attorney coordinate the transaction.
Ask the appointed team which requirements remain outstanding and how registration will be confirmed. Confirm the first repayment date and ongoing payment arrangements directly with the bank.
General information. Contact WDS for advice about your circumstances.
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