Mortgage and business lending process, Ballarat

At Mulcahy & Co, we have developed a step-by-step guide outlining what is involved when applying for finance in Ballarat.

For your peace of mind, the team Ballarat lending team at Mulcahy & Co will work with you to get you through the entire loan process and find the best option for you and your family.

Step one

Contact your mortgage specialist

The first thing to do is contact Neil McCahon or Matt Egan, our specialists when it comes to mortgages in Ballarat. Our team won’t lend you the money, but they will help you to choose a bank and loan that’s right for you. They will ask general questions relating to your personal circumstances and offer solutions. If you are still keen to proceed they will commence with the application.

Step two

Prepare your application

You can make an appointment with the Ballarat mortgage specialists at Mulcahy & Co at a time and place that suits you, to commence your application. This service is absolutely free because we are paid by the lender, and you can drop into our office or we can come to your home or office. You can also use our online loan application form for mortgage and Ballarat business loan applications.

Step three

Lodging your mortgage or business loan application

Your mortgage specialist will prepare and send an application to the lender on your behalf. Where the lender may have questions, your mortgage specialist will contact you, only if they don’t have the information required on hand. Our Ballarat business lending and mortgage specialists have worked in the industry and with the banks for many years, and will know what information may be required by which lender in order for your application to meet the lending criteria. When necessary we will also personally discuss your application with the key decision makers.

Step four

A decision is made

Our Ballarat lending team will follow up the lender regarding the status of your application. This process can take up to three weeks, but you generally hear from your lender within a week. The lender will indicate whether the application is approved or deferred. If deferred, you may need to provide additional information. Your mortgage specialist will help you.

Step five

Formal approval

The lender has formally approved your loan. This means that there are no conditions other than signing the documents. Your mortgage specialist will contact you and a letter will be sent out.

Step six

Loan documents

The lender or the lender’s solicitor will prepare the contract mortgages for you to sign. Some lenders send them to our office while others send them directly to you. Once you receive your loan documents, contact our mortgage specialists and they will go through them with you.

Step seven


Once the documents have gone back to the bank, the lender will check them and then they will be ready to settle. Your settlement agent will then book the settlement. Your settlement agent on most occasions liaises directly with your mortgage specialist to obtain any necessary documentation to ensure a smooth settlement. Once settlement has gone through, we will contact you to advise you and you can commence preparing to move into your new home.

Step eight

Follow up

Please do not hesitate to contact us after the settlement. We are always more than happy to help facilitate any other enquiries you or your family and friends may have.


  • Discharges – if you are using an existing property as security with another lender then we will need a Discharge of Mortgage Form completed.
  • First Home Owner’s Grant – if you qualify for the First Home Owner’s Grant, your mobile lender will take your application at the time of interview. These funds will become part of your settlement proceeds.
  • Certificate of Currency – your lender will require building insurance over the properties you are using as security. Your insurance certificate will need to note your particular lender as the mortgagee.