Loan Process and Fees

1. Talk Through Your Goals

We ask about your plans, financial position and the timing you need. This helps identify the information required to assess your options.

Before applying, use the home loan calculator to estimate repayments and stamp duty, then discuss lender fees and other costs.

2. Review Your Budget and Documents

We consider your income, expenses and commitments and discuss an indicative borrowing amount. We will explain the supporting records needed for your application.

3. Compare Suitable Options

We compare relevant options from our lender panel and explain the features, repayments, fees and conditions that matter to your situation.

4. Prepare and Lodge the Application

Once you choose an option, we help prepare the application, communicate with the lender and follow up requests for further information. The lender decides whether to approve the loan.

5. Arrange Settlement

Following approval and acceptance of the loan documents, we help coordinate the finance steps through to settlement. Your conveyancer or solicitor handles the legal transfer of property where applicable.

6. Support After Settlement

You can return to Lester with questions about your loan or request a review when your plans change. It is useful to review a loan when a fixed term ends or before another major purchase.

How LeMerit Finance Is Paid

Our service is free in most cases because the lender may pay us a commission when a loan settles and an ongoing commission. We explain the applicable commissions in your loan documents. Some applications, including asset finance, personal loans or complex lending, may attract a broker fee. Any fee will be disclosed and agreed before you proceed.

Other Costs to Plan for

Depending on the transaction, costs can include lender fees, valuation charges, legal or conveyancing fees, government charges and mortgage insurance. Refinancing may also involve discharge fees or fixed-rate break costs. Ask for a breakdown relevant to your proposed loan.