DIP – A decision in principle in in progress on the online portal.
DIP issued – The decision in principle has been issued and presented to the borrower.
New – An application form is in progress on the online portal.
Submitted – The application form has been submitted to the borrower to confirm and sign.
Application form signed – The application form has been signed by the borrower and the case has been assigned to a case manager and underwriter. The broker will now receive a task to pay the valuation fee.
Fee paid – The broker has paid the valuation fee.
Packing – The assigned case manager is carrying out initial due diligence checks on the borrower, property and portfolio.
Reviewing – The assigned underwriter is assessing the case.
Valuation – The valuation has been instructed.
Underwriting valuation – We have received the valuation report and the case is being underwritten.
Preparing offer – The assigned underwriter is ready to proceed to a formal offer.
Offer – The offer has been issued to the borrower to e-sign via DocuSign.
Offer signed – The borrower has signed the offer.
Legals instructed – We have sent formal instructions to our solicitors.
ROT received – Solicitors will send the report on title and request funds for completion.
ROT reviewed – The assigned underwriter will review the report on title to ensure conditions are met as per the mortgage offer.
Funds released – The case has been signed off for completion and the funds have been sent to the designated solicitor for completion.
Completed – Solicitors will confirm completion and the status will be updated.