| INITIAL ASSESSMENT |
Within 24 hours of receipt of Loan Submission Form |
Borrower completes Loan Submission Form for ADF to review. |
| Indicative TERMS Summary |
Issued within 48 hours of receiving Loan Submission Form |
High level summary of loan terms for Broker to present to client |
| Application Form |
Client to provide an executed Application Form
|
Formal Application - provides key information for ADF to issue indicative Offer Letter |
| Indicative Offer Letter |
Within 48 hours of receiving completed Application Form |
Formal Offer from ADF setting out terms of advance to Borrower and conditions of the proposed facility |
| Valuation & quantity surveyor report |
Instructed immediately when executed Offer Letter is returned and fees are received
Reports take approximately 5-10 working days
|
ADF values security forming collateral for the loan
The Quantity Surveyor Report sets out the costing of the project
|
| Due Diligence |
Commences as soon as Indicative Offer Letter is signed and fees are received
Takes approximately 5-10 working days
|
ADF performs due diligence on Borrower, Builder, Project and Transaction |
| Loan Documents |
Instructed as soon as Valuation, Quantity Surveyor Report and Due Diligence are completed. Generally issued to Borrower within 3-5 working days of instruction |
ADF instructs Solicitors to prepare and issue Loan Documents to the Borrower.
Documents to include a Tri-Partite Deed with the Borrower and the Builder
|
| Settlement |
Within 48 hours of Loan Documents executed, returned and reviewed by ADF Solicitors |
Funds advanced to Borrower and commencement of the loan facility |
