It’s important to understand the process of applying for your loan before doing so, as this will help you pre-empt any twists and turns along the way. Your application process will likely follow these steps:
Ensure you’re eligible
Before everything else, you should make sure that you meet Newcastle Permanent’s eligibility criteria. These are broad at the enquiry stage, with the following being the key points to bear in mind when applying:
- You must be 18 years of age or older
- You must be an Australian citizen, permanent resident or a New Zealand citizen living here
- You mustn’t use your loan for business purposes
- You must be earning a stable income which is enough to support your repayments.
Have your documents ready
Additionally, you should ensure you have all the required documentation at the ready when applying. You can get in touch with the lender to confirm what you might need, but this will most often pertain to your identity (driver’s licence or passport), income and employment (payslips and/or bank statements) and information on your assets (property, vehicles), liabilities (outstanding loan and credit card debts) and regular expenses.
Submit an online enquiry
First and foremost, fill out their online form via their website. This will only take you a matter of minutes to complete and tells the lender a bit about you, your profile and the type of loan you’re after. While this isn’t a proper application in that it won’t directly lead to loan approval or pre-approval, this helps get the wheels in motion.
Speak with a representative about your options
You’ll receive contact in the coming days regarding your enquiry, where you’ll be advised as to whether you can qualify and be approved for the loan you’re after. If yes, you’ll proceed with your application as directed by your consultant.