Setting the scene on settlement 

3 minutes

So, you’ve had an offer or bid accepted. Fantastic! Now your attention needs to turn to the settlement.

If you got a home loan approval with Nano, you can expect to sail through this final phase of the lending process knowing your finance is taken care of. That’s because the groundwork has already been done – back at the time when you initially applied, including all the necessary property valuations, serviceability and ID checks.

With Nano approval, we’ve already:

  • Verified your ID online,
  • Checked your credit score,
  • Done an initial property valuation (we may need to confirm this once more, after your offer or bid is accepted) AND;
  • Reviewed your Incomes and expenses digitally (without paperwork).

So, here’s what to expect with Nano (hint: it’s a lot easier than you may think!)

Once you’ve had an offer accepted – it’s time to make things happen.

The big day has come and gone, and the next steps might seem overwhelming considering there are so many different moving parts, but with Nano, we make it as easy as possible for you.

Make sure you:

  • Pay your deposit
  • Take out insurance – do this as soon as you put down a deposit
  • Carry out your inspections


1. Sign and upload your contract of sale, which includes the final sale price.

Once you lock in this final sale price, if you need a larger loan to complete your purchase than what we originally approved you for, you’ll need to update your loan amount in your application. We’ll then need to do a quick affordability check to assess we can still safely lend to you. Just like when we assessed your original application, we can do this in minutes, not weeks.

2. Check we have the correct contact details of your conveyancer.

We need their details to finalise your settlement date.


3. In some instances, we may need to order a follow up property valuation.

In rare circumstances, we may need to send out a valuer to assess the property. If this is required, one of our Home Loan Specialists will be in contact with you directly within 48hrs to lock in a time that suits. Once the valuation is complete, we can give you an update in 1 business day.

Sign on the dotted line

OK, now it’s time to sign for your loan. Our partner, MSA National, who help us manage the legalities of your loan, will send you an email with your loan documents to sign. This can usually be done digitally, (unless you’re based in Queensland, the Northern Territory, ACT or Western Australia, where unfortunately state legislation dictates you must print out, sign and send back your forms. (This is outside our control, but we’re here to help make it as streamline as possible for you). Otherwise, you can sign them digitally and send them back to us right away.

And… settle!

Owning that prized property is so close now! At this point, we’ll work with your conveyancer to arrange a mutually convenient settlement date. This is when you pay the rest of the sale price and become the legal owner of the property.

The process varies from state to state, but a typical property settlement usually takes place around four to six weeks after contracts are exchanged (but could be longer or shorter). For settlement we make the loan funds available to your solicitor or conveyancer, so they can in turn pay the money to the seller’s representative. In most case, they’ll organise an online meeting, exchange the funds, and the title of the property is transferred into your name. Then, it’s yours! All there is to do now is collect the keys, and you’re in!

We’ll make sure to stay in touch via email or phone and clearly communicate with you throughout the process, keeping you updated with progress and next steps, right through to when you become the official owner of your property.

You’ll receive a final email from us once your settlement is complete which includes your account details, repayment information and how to download the app.

Let’s help make your settlement process a breeze.