Off the plan apartments

Congratulations on your off-the-plan apartment purchase! With the build nearing completion, it’s time to prepare for the final steps in the process. As your mortgage broker, The Lending Alliance is here to guide you through these next stages, ensuring a smooth transition to settlement and beyond.


1. Property Valuation & Final Loan Approval

As the property nears completion, your lender will arrange a final valuation to assess the apartment’s current value. This is a crucial step, as it may impact the loan amount available to you. The property’s value could vary from what was agreed upon initially, depending on market conditions.

What to Do:

We will work with the lender to organise the valuation. You don’t need to worry about this step – we’ve got it covered.

Be aware that if the valuation comes in higher or lower, we’ll discuss how this may impact your loan.


2. Finalising Your Loan

With the valuation complete, we’ll move from pre-approval to full loan approval. We’ll make sure your loan is ready for settlement, reviewing your financial situation and ensuring everything is in order for the lender to release funds on the day of settlement.

What to Do:

Keep us informed of any changes in your financial circumstances. If your situation has changed since you obtained pre-approval, we’ll explore any necessary adjustments to your loan options.

We’ll handle the communication with your lender to finalise your loan.


3. Pre-Settlement Inspection

Before settlement, you’ll have the chance to inspect your new apartment.

What to Do:

Attend the pre-settlement inspection and take note of any concerns or issues.

Let us know if any issues could potentially delay settlement, and we’ll coordinate with the relevant parties to minimise disruptions.


4. Settlement Day

On settlement day, the balance of the purchase price is paid, and ownership of the property is officially transferred to you. Your lender will release the funds, and your solicitor or conveyancer will finalise the legalities.

What to Do:

Ensure your solicitor or conveyancer is prepared for settlement.

We’ll confirm with your lender that everything is in place, so you can focus on taking ownership of your new apartment.


5. Preparing to Move In

After settlement, it’s time to prepare for your move or, if this is an investment property, arrange for tenants. We recommend organising utilities and insurance, and if needed, property management services.

What to Do:

Set up utilities like electricity, water, and internet.

Arrange home and contents insurance.

If you’re renting out the property, connect with a property manager to get things started.

How The Lending Alliance Supports You

At The Lending Alliance, our role doesn’t end once the loan is approved. We’re here to help you through every step of the process, from the final valuation to settlement day. We’ll ensure everything is in place with your lender and keep you updated at every stage, so you can feel confident and prepared.

If you have any questions or need assistance as your property nears completion, don’t hesitate to reach out. We’re here to make the process as smooth as possible!