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Buying a property with a mortgage — complete process

The end-to-end buyer process for a financed purchase, from pre-approval to mortgage registration and first repayment.

Who this is for: Buyers who have decided to use finance and want to know the order of events.

Quick answer

Here is the usual order of events for a financed purchase of a ready property, plus what changes off-plan. Individual banks run their own process and document list, so treat this as the shape of the transaction rather than a fixed rulebook.

The guidance below is general. Sign in and verify ownership to see this tool alongside your own unit's recorded details.

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Step by step

  1. 1

    Get pre-approval and understand your borrowing position

    Before you shortlist, ask a lender or broker what you can borrow and on what conditions. Pre-approval is an indication from that bank, not a commitment from any other.

  2. 2

    Identify the property and check it is mortgageable

    Ask the lender whether it finances this project and unit at its current stage. Whether the unit is ready or off-plan changes the answer more than anything else.

  3. 3

    Make the offer and agree terms

    Agree price, timeline and who carries which cost. Say up front that the purchase is financed, so the sequence can be planned around the bank.

  4. 4

    Sign Form B / the transaction agreement as applicable

    Buyer representation and the agreement between the parties are documented in the standard forms used for the transaction.

  5. 5

    Pay the buyer deposit within the transaction structure used

    The deposit is held according to the structure agreed for the transaction. Confirm who holds it and on what terms before you pay anything.

  6. 6

    Bank valuation — access to the property is normally required

    The bank instructs its own valuer and lends against that figure rather than the agreed price. The valuer generally needs physical access, so viewing access has to be arranged.

  7. 7

    The bank reviews the valuation and the property documents

    Typical completion documents can include the BCC / Certificate of Completion and the handover notice. The exact list varies by lender, and no two banks ask for identical items.

  8. 8

    Final mortgage offer / FOL where applicable

    Where the bank issues a final offer letter, it usually carries conditions. Read what those conditions require of you and by when.

  9. 9

    Developer NOC and transfer preparation as applicable

    The developer's clearance and the transaction paperwork are prepared in parallel with the bank's file so both are ready for the same transfer slot.

  10. 10

    Fund your own contribution, fees and any bank-required amounts

    The buyer funds the required down payment, transaction costs and anything else the bank asks to be held or paid at transfer, from their own funds.

  11. 11

    The bank issues its cheque or transfers funds to the approved structure

    The lender releases according to the structure it has approved for the transaction, not simply on request.

  12. 12

    Transfer at the trustee office / DLD process

    Ownership transfers through the official process. The bank is a party to that appointment where the purchase is financed.

  13. 13

    Mortgage registration

    The lender's interest is registered against the property as part of, or immediately following, the transfer.

  14. 14

    Keys and handover according to the status of the property

    When you take physical possession depends on the property and the transaction — for a ready home it usually follows the transfer, but see the pre-handover section below.

  15. 15

    Repayments begin once the loan has been drawn or released

    Mortgage repayments start once the bank has drawn or released the loan in line with the transaction, which is not necessarily the day you physically move in.

Which are you buying?

  1. 1

    Some banks can proceed on valuation plus BCC

    Where a lender holds the valuation and the BCC, it may be able to complete a transfer even though physical handover has not happened, and some lenders do not require the handover notice at all.

  2. 2

    Repayments can start before the home is ready to occupy

    If the bank releases funds and the transfer completes ahead of physical handover, you may begin paying the mortgage before you can move in. Budget for that possibility.

  3. 3

    Confirm it before you rely on it

    Availability varies by bank, project status and the documents in existence, and it changes over time. Get your lender or broker to confirm it in writing for your specific case.

Before you commit

  • Do I have written pre-approval, and what conditions sit on it?
  • Has the lender confirmed it finances this specific project and unit at this stage?
  • What is this bank's exact document list — valuation, BCC, handover notice, anything else?
  • Who arranges valuer access to the property, and when?
  • Could the transfer complete before physical handover, and would repayments start then?
  • How much am I funding myself at each point in the sequence?
  • If the seller has finance outstanding, how does their settlement affect the transfer date?

What TVD can help with

  • Explaining the usual shape and order of a financed purchase
  • Showing the recorded status and handover value we hold for a verified unit
  • Connecting you to a mortgage specialist through the referral flow, with your consent

What must be completed elsewhere

  • Pre-approval, valuation, the final offer and every bank document
  • Any decision on whether you or the property qualify for finance
  • Loan-to-value, rates, fees and conditions — these come from the bank

This is educational guidance, not financial advice and not a lending decision. Lending criteria, sequencing and required documents vary between banks and change over time. Confirm the process for your own case with your lender or broker before committing.