VPRS 12201 Loan Application Files [SAMPLE ONLY RETAINED]

The Home Finance Trust was established by s4 of the Home Finance Act 1958 and was empowered to make housing loans on the security of first and second mortgages. This series consists of a file created by the Home Finance Trust, upon the application for a loan. It has been retained to provide an example of the loan application process.The files typically contained routine correspondence and legal documents relating to the loan application process.Applicants applied to the Home Finance Trust for loans to finance the purchase of a dwelling. Various documents were created in the course of the application process, including:Housing Inquiry Form and Application for Loan (forms completed by applicant)Financial statement from applicantSchedule of Loan Conditions (s8(2) of the Home Finance Act sets out conditions for granting loans from the Home Finance Fund; the Trust could also impose other conditions)Declaration by Borrower (required under the Act, in which the applicant declares that the loan would be for a house for him or herself and their family, and that the applicant does not own a house in Victoria).Documents relating to the purchase of a home financed by the Trust were also placed on the Loan Application file, such as:copy of Contract of Salecorrespondence with the vendors and purchasers solicitorsOther documents on the files include survey plans of the property to be purchased, Valuers Reports, and correspondence and forms related to insurance.