What to expect from your first meeting with your credit adviser

In the following I have included an article from the MFAA, it provides a good summary of what to expect.

In my business we have an agenda we generally follow when working with clients in assisting them to obtain residential finance, which is::


Just a couple of minutes where we can cover off who we are and answer any questions you might have about Loan Market, Vital Wealth Group etc.


Obtaining residential finance is a significant event. It’s appropriate to take a couple of minutes to make clear what you expect from me and my team, and some things I will ask of you.

Needs Analysis

This is the time when we work together to make sure I understand what you really need, the out comes you are trying to achieve. We also consider your current and future needs. Don’t worry if you are not sure what you need, together we will work through what features will be important in the right lending options for you.

Summarise Needs

Now is the time we recap to make sure we have all your requirements clearly defined.

Fact Find

Next we collect all the data we would need to determine which lenders you qualify for and would be most suitable you. The details will allow us to complete an application once you have chosen the lender and product you wish to proceed with.

Establish a Strategy

Now we have your needs and details sorted we recommend suitable lenders and products for you to choose from.

Prepare Application

Sometimes we may prepare the application immediately but often the team will finalise the paperwork after you leave, you can sign it later before we submit it for approval to the lender.

Further Advise/Recommendations

There may be other professionals that you require or should get involved. We can make recommendations on trusted advisers in Insurance, conveyancing, and other areas as appropriate.

By Alexandra Cain

The first step in buying a property, a business or commercial equipment is often securing the finance, and the ‘make or break’ nature of that can make the first meeting with a credit adviser a daunting prospect.

Your first meeting with a credit adviser is an opportunity to really get cracking on making your dreams a reality. He or she has the expertise to help you do this, but you will need to pitch in as well, of course. It’s important to do your homework before that first meeting.

“Know the questions you want to ask and have a clear picture of what you’re after,” says Mortgage Choice’s, Jessica Darnbrough. “Be that a home loan, refinancing a loan or setting up a self-managed super fund for the purposes of buying a property.”

Your credit adviser will also expect you to have your documentation prepared as well as possible. This includes having two pay slips ready or, if you’re self-employed, having two tax returns at hand.

“You will also need evidence of any other income and assets such as shares, dividend income and other investments,” says Jessica. “If you go into that first meeting with all the information prepared, it makes it much easier for you and your credit adviser.”

You should expect your credit adviser to ask a range of questions about your current and future lifestyle and financial situation, so he or she can take into account factors such as whether you are planning to start a family.

“Your credit adviser is trying to understand who you are and what you are looking to achieve, to help you meet your goals,” Jessica explains.

Working with a credit adviser gives you the expertise you want as well as access to potentially hundreds of different financial products from scores of different financial institutions. This differs from approaching a bank, which will only be able to make recommendations about its own financial products.

“Credit advisers have a huge choice of financial products available to recommend, which means they are able to suggest the right product for a client’s individual needs.

MFAA-accredited credit advisers are the mortgage industry and mortgage product experts, and will work with you to find out which loan and lender will suit your needs.

An MFAA Approved Credit Adviser is much more than your average mortgage broker.

Find out how a credit adviser can help here.