1 Initial Assessment
The first step in buying a new house is to assess what your requirements and preferences are i.e. size of land and unit, area and affordability level.
To perform this assessment, the following is required:
personal information,
payslip,
identity document,
details of employer housing benefits (if applicable),
if applicable, the same documentation will be required from your co-applicant.
A complete assessment will be performed once the required information is furnished to TpD
2 Consultation
Our consultant will set up an appointment to discuss your credit profile and your level of affordability.
Various options in terms of size and price of houses and stands will be discussed.
A detailed breakdown of monthly repayments and obligations regarding this home-loan will be illustrated.
This consultation is structured to assess your specific needs and requirements.
Once agreement is reached re contract price, house-plans, etc, we may proceed to the next step.
3 Physical Selection of Property
Once you and your consultant have chosen the package best suited to you, he/she will physically escort you to the development area of preference where the stands will be shown to you.
You will select a stand on which your application at the bank will be based.
Your consultant will also show you a house similar to the one you have chosen as example.
As all our houses are built according to your needs, the layout might be different, but the finishes will be the same.
4 Interview and Bank Application
The next step is the signing of the bank application forms which includes the following:
Building contract,
Deed of Sale
House plan, schedule of finishes, NHBRC Enrollment certificate, etc.
We will ensure that all your documentation (payslips, bank statements, etc.) is included. Our consultant will explain the process in more detail concerning the bank application, attorney procedure, lodgment at the deeds office and registration, plan approval, NHBRC enrollment and connection fees, construction and occupation.
5 Bank Submission and Approval
Your complete application is submitted to the bank.
This is the crucial step – the bank will assess your application and will do a credit check, qualification calculation and affordability assessment.
If your application is complete and backed up by solid facts, you stand a good chance of obtaining a loan.
Once your application is approved, the bank issues an approval letter and instructions to the attorneys to draw up the necessary legal documentation for your building loan to be registered.
6 Instruction and Registration
After approval and instructions, the attorneys will proceed to prepare the necessary documentation.
These legal documents consist of two parts:
The first part is the transfer of the specific property into your name, and the second is to register a bond in favour of the bank over the property.
You will be required to sign these documents with the attorneys, who will then proceed to lodge this at the deeds office for registration.
7 Construction
On registration, TpD will commence with the construction process.
Our team of professional project managers will supervise the whole process on your behalf.
The process includes the following:
On approval of you plan, we commence with the construction of your home.
Numerous quality checks are performed during the construction process, including those by the structural engineer, Council inspector, the NHBRC, our own project managers and evaluators employed by the relevant bank.
8 Occupation
On completion, our project manager will contact you in order to do the handover. and perform a final inspection with you as the owner. Defects, if any, will be attended to before occupation.
A three-month retention period is applicable, after which time all latent defects will be rectified to your satisfaction.