Transfer - Purchase (Incoming Mortgagee)
How to initiate a Purchase request
P&N Bank Limited (P&N) request an invitation is sent as soon as possible and at least 10 business days prior to settlement to avoid settlement delays, please ensure all the relevant customer information is provided up front.
When sending an invitation please include;
- P&N application number shown on the approval letter
Transfer of Land (TOL)
- Please ensure the TOL document is prepared as soon as possible, preferably at the time of workspace creation, or at least 10 business days prior to settlement and must be satisfactory to progress to booking stage.
- Please do not sent an email copy of the TOL or settlement statement
Accepting Settlement Date/Time
P&N will accept settlement date and time once all loan documentation has been received, checked and correct.
P&N will require notice of 1 business day prior to settlement to accept a booking and check loan documentation prior to accepting settlement date and time. Any incomplete items could cause settlement delays.
Day of Settlement
Please have your adjustments on the financial settlement schedule finalised and Balanced at least 4 hours prior to the scheduled settlement time;
- Any amendments made to the financial settlement schedule (post P&N sign off or practitioner adjustments being Balanced) will result in P&N needing to re-confirm loan proceeds available which could cause settlement delays.
Late receipt of documents, pre-settlement conditions and member contribution can impact the settlement timeframe.
Failure to meet the above timeframes may impact P&N’s ability to settle on the preferred settlement date and time.
On day of settlement P&N will need to have satisfied all internal approvals prior to workspace sign off.
Conversations
Please use PEXA conversation tools to contact us if there is an issue with a digital settlement.
Please do not respond to a conversation requesting completion of a task if the task is completed and visible in the workspace.
Please do not send a conversation requesting sign off.
