From referral to settlement

Accountants and advisers often worry that a referred loan will vanish into a black box once the client is handed over. This article walks through what actually happens to a referred mortgage application, where things can go wrong, and what a well designed journey looks like from first click to post settlement review. You will see how a structured process protects your client experience, reduces risk, and supports your broader advice. Finally, we explain how Cromeloan’s model keeps you in the loop at every stage while sharing commission in a way that aligns with your practice values.

Key takeaways

• A referred loan does not need to be a black box if the journey and reporting are clearly defined.

• Structure around qualification, product matching, application, and review protects both your client and your brand.

• The right home loan partner makes it easy to track progress and understand what is happening at every stage.

• Cromeloan is built to support accountants with transparent updates, strong client outcomes, and shared commission.

Why firms hesitate about referred loans

Many firms like the idea of helping with home lending, but hesitate when it comes to sending a client out to someone else. The fear is simple. Once the client is handed over, you lose visibility and you are not sure whether the promised service will actually happen. If that experience goes badly, the client will not blame the broker. They will blame the person who made the introduction. For an accounting or advice practice that lives on trust, that is a big risk.

You may also have had mixed experiences with informal loan referrals in the past. The friendly banker, the ad hoc broker, the untracked introduction. A client was told to “mention my name at the branch” and you never really knew if anything came of it. This makes it easy to see all loan referrals as risky. Especially when you are already managing tax deadlines, advisory projects, and your own compliance workload.

Add in the complexity of modern lending. A client buying a $750,000 home in Brisbane with a 10 percent deposit faces a maze of lender rules, property policies, and document requirements. If you send that client to someone with a loose process and poor communication, your brand can be damaged even if the loan settles. This is why many firms wait on the sidelines, even when clients clearly need help. They do not see a clear, structured home loan referral journey they can trust.

Checklist: signs your firm is nervous about referrals

• You only make introductions for close friends or long standing clients.

• You rely on a single contact at a bank without any written process.

• You do not receive regular updates once a client is introduced.

• You worry how to handle complaints if the loan experience goes badly.

What this means for Buyers

• Buyers can miss out on savings if their accountant never raises the topic of home lending.

• Clients may assume you cannot help with loans at all and look for support elsewhere.

• A poor introduction can damage the trust that underpins your broader advice.

• A clear referral pathway lets buyers lean on you as the “financial GP” who coordinates support.

Quick Q&A

Q: Why are many firms cautious about loan referrals?
A: Because they fear losing control of the client experience once the introduction is made and they are unsure what happens next.

Q: Can those concerns be addressed without building your own lending arm?
A: Yes. Partnering with a structured provider that offers clear processes and transparent reporting can remove much of that risk.

Step by step: what happens to a referred mortgage application

Behind every referred mortgage application there is a journey, even if it is not documented. It often starts with a simple introduction. A quick email from you to a contact. A phone number passed on during a meeting. The client then has an initial discussion with the broker or banker, where basic goals, income, and property plans are explored. At this point the path can fork into a smooth sequence or an unstructured chase for documents.

The next stage is assessment of what the client can safely borrow. Serviceability means the lender checking that the client can afford the repayments based on income, expenses, and buffers for interest rate changes. If this is handled loosely, clients get mixed messages and shifting figures. For example, a client in Melbourne looking at a $900,000 property with a 15 percent deposit might be told that capacity “looks fine” on the phone but later finds the numbers do not stack up once the file reaches credit. That breaks trust quickly.

From there, the application should move to document collection, submission, and credit decision. In a well run process, a referred loan has each of these stages tracked and time stamped. In a looser environment, the status of the mortgage referred to a contact is anyone’s guess. Approval can also be conditional, requiring extra documents or valuation checks. Without clear communication, the client is left relaying partial information back to you and asking for help you cannot easily provide.

Checklist: typical steps in an unseen journey

• Informal introduction and first chat between client and broker or banker.

• Rough “can do” assessment without clear serviceability explanation.

• Document chase with unclear deadlines or expectations.

• Application submitted, but status updates are irregular or reactive.

What this means for Buyers

• Buyers may feel they are in limbo, unsure if they can bid or make an offer.

• Clients might commit to a $700,000 purchase, only to discover late that the lender needs more deposit.

• Stress increases when approval timelines slip and the client has to chase everyone for answers.

• Your role as the trusted adviser becomes harder when you cannot see where the application is up to.

Quick Q&A

Q: What is the main risk with an informal referred mortgage application process?
A: The main risk is that no one clearly owns the stages or communication, so delays and confusion are common and difficult to manage.

Q: How detailed does the tracking need to be?
A: It does not need to be complex, but you should be able to see when the application is at assessment, conditional approval, formal approval, and settlement.

The risks when there is no structured process

When there is no structured framework for a referred loan, problems tend to appear at the worst possible time. Clients get mixed messages about what they can borrow, or how long approval will take. You might have modelled an investment strategy assuming a client can safely buy a $600,000 property in Adelaide with a 20 percent deposit. If the lender later cuts the borrowing capacity due to a missed credit card or updated policy, your advice and their plans need to be reworked under pressure.

Without structure, there is also no clear record of who said what. This creates reputational risk. If a client feels they were pushed into a product that did not suit them, or did not understand the rate type they selected, it can spill back into your relationship. Even if the issue had nothing to do with your advice, you were the one who made the introduction. This is especially sensitive for firms with strong professional standards and long standing client relationships.

Operationally, a vague process is also inefficient. Team members are not sure how to initiate loan referrals, where to record them, or how to follow up. You may rely on scattered email trails and ad hoc notes. That makes it hard to understand how many referred loans are in the pipeline, what conversion looks like, or what commission has been paid. A single practice might have dozens of open files at various stages without any central view.

Checklist: risks of an unstructured referral path

• Clients receive inconsistent borrowing capacity numbers over time.

• No shared notes or system to see what has been promised to the client.

• Poor visibility of open files and expected commission flows.

• Confusion about who is responsible for fixing issues when they arise.

What this means for Current borrowers

• Clients with existing loans may miss chances to refinance and save because reviews are not scheduled or tracked.

• Borrowers might be left on higher rates long after fixed terms or discounts expire.

• Your firm could be exposed if a client complains about a loan outcome that feels unfair or poorly explained.

• You have less ability to weave home lending into your broader planning and tax advice.

Quick Q&A

Q: Is it better to avoid referrals completely than to refer without structure?
A: Avoiding referrals removes the risk, but it also leaves clients on their own. A structured model lets you help while protecting the relationship.

Q: Do we need complex software to reduce these risks?
A: No. You need clear steps, agreed communications, and a partner that can support you with simple tools and transparent tracking.

How a structured loan referral journey should look

A well designed journey breaks the referred loan into clear stages with agreed actions and communication. It starts with a consistent way to capture and send the referral. That may be a branded online form or calculator that feeds straight into a lending system. The client knows they are entering details into a secure process connected to your trusted partner. You know the referral is recorded correctly with your firm’s name attached.

Next comes a robust assessment of borrowing capacity. Serviceability should be explained in plain English, using real numbers. For example, a couple in Perth earning a combined $190,000, looking to buy a $800,000 home with a 10 percent deposit, should see how the lender tests their ability to handle repayments at a higher “stress rate”. A structured process will show them the safe borrowing range rather than a single “maximum”. This prevents overcommitment and sets realistic expectations with you and the client.

Product matching follows. Here the broker uses a wide range of lenders and products to find options that fit the client’s goals and risk comfort. Instead of a single bank, the client sees several choices with different rates and features. This is where a strong home loan partner adds value compared to informal arrangements. Careful product matching is at the heart of responsible mortgage partnership finance, because it connects lender policy, client circumstances, and long term goals.

From there, the application, approval, settlement, and post settlement review are each handled as distinct phases. At every step, there is a clear status you and the client can see. Documents are requested once, not piecemeal. Communication is proactive, not reactive. The journey is no longer a mystery.

Checklist: ideal structured journey

• Referral captured via a consistent digital tool tied to your firm.

• Clear borrowing capacity explanation using realistic examples.

• Product options presented with pros and cons in simple language.

• Post settlement review date set at the time of approval.

What this means for Buyers

• Buyers know early what they can safely spend, reducing stress at auction or private sale.

• Clients see that their accountant and lending partner are working together, not in silos.

• The client feels informed, not sold to, which builds long term trust.

• The loan can be reviewed regularly so it continues to match changing goals.

Quick Q&A

Q: Why is product matching its own stage in the journey?
A: Because it turns raw borrowing power into real choices, helping the client pick a loan structure that supports their goals rather than just chasing the lowest rate.

Q: How does a structured journey help our internal team?
A: It gives staff a simple pathway to follow for every referral, which reduces confusion, rework, and the risk of things falling through the cracks.

How Cromeloan handles a referred loan from first click to settlement

Cromeloan is built to make this structured journey real and accessible for accountants. Instead of handing clients to a patchwork of contacts, your practice plugs into a single platform built for professional firms. The experience starts from the first client interaction. A client might use your branded calculators or tools to explore borrowing options and signal that they want help. That creates a clear digital trail that links the client, your firm, and the loan opportunity.

Once a client chooses to proceed, Cromeloan’s process moves from discovery into fact find. The platform gathers income, expense, and goal information using plain language prompts rather than dense forms. Think of a client in Geelong looking at a $650,000 townhouse with a 15 percent deposit. The system can quickly assess how much they can safely borrow, then highlight potential lender matches from a wide panel, not just a single bank. This turns a referred loan into a data backed process rather than a guess.

Cromeloan then handles the application and lender interactions through specialist brokers who work within the platform. You do not need to manage the application yourself, but you can still see where it is up to. Approval, conditions, valuation, and settlement are tracked. The client feels looked after, you feel informed, and the model sits comfortably inside a modern loan partner program designed for accountants. Settlement commission is shared with your firm in a transparent way, aligning commercial benefit with client outcomes.

Checklist: Cromeloan’s handling of referrals

• Branded client entry points linked to your firm.

• Digital fact find that feels like a conversation, not a form.

• Wide lender panel to match policy to client scenarios.

• Structured tracking from application through to settlement.

What this means for Buyers

• Buyers receive tailored options quickly, without having to repeat their story multiple times.

• Clients see their accountant and lending specialist as part of one team.

• The process feels modern and digital rather than paper heavy.

• Clients are more likely to return to you when their needs change, because the experience was positive.

Quick Q&A

Q: Do we lose control if Cromeloan’s brokers handle the detailed lending work?
A: No. You stay in control of the client relationship while Cromeloan manages the specialised lending tasks and keeps you updated.

Q: How are commissions handled with Cromeloan?
A: Commissions are paid on settlement and shared with your firm in line with the agreed model, so value flows back into your practice as well as to the client.

H2How you stay in the loop as the referring accountant

Staying informed is critical. Cromeloan is designed so a referred loan never disappears from view. Each file carries your firm’s details and sits inside a transparent workflow. At any time, you can see key milestones such as “fact find complete”, “application submitted”, “conditional approval”, and “settled”. You do not need to chase for updates or rely on second hand information from the client.

This visibility supports your planning work too. Imagine a client in Sydney purchasing a $1,000,000 home with a 20 percent deposit. While Cromeloan manages the loan process, you can factor the expected repayment and timing into tax planning, cash flow advice, or business strategy. If settlement is delayed or approval conditions change, you can adjust your advice early instead of being surprised after the fact. The referred loan becomes an integrated part of the client’s overall financial life, not an isolated event.

Communication is two way. You can share context with Cromeloan that may help, such as upcoming business changes or expected bonuses, while still respecting privacy and consent. In return, you receive focused updates rather than noise. This keeps your time free while maintaining control of the relationship. You can also review referral activity across your client base, making it easier to see how home lending sits within your wider service mix.

Checklist: staying informed with Cromeloan

• Access to clear status updates at key loan stages.

• Ability to align loan progress with your planning and compliance work.

• Quick visibility of referral volume and outcomes over time.

• Simple way to share relevant context that may support credit assessment.

What this means for Current borrowers

• Clients with existing loans can be flagged for review when rates, goals, or circumstances change.

• You can coordinate refinancing with tax events, asset sales, or restructures.

• Borrowers feel that someone is always looking out for better options on their behalf.

• Your firm becomes the natural first call for any big money decision.

Quick Q&A

Q: Will we be overwhelmed with loan updates?
A: No. Cromeloan focuses on key milestones and meaningful changes so you have the context you need without adding noise to your inbox.

Q: Can we see referral activity at a practice level, not just per client?
A: Yes. You can view referred loan activity across your client base to understand volume, conversion, and value to the firm.

See how our mortgage referral process works behind the scenes

Understanding the theory is useful, but most firms want to see how this looks in practice. Cromeloan makes that easy. You can walk through the journey from the client’s first click, through the AI powered discovery tools, into the broker workflow and final settlement. This behind the scenes view helps partners, directors, and client managers build confidence that the process aligns with your standards.

You can also map the journey against your current client processes. For example, consider your tax planning workflow for a client buying a $900,000 investment property with a 20 percent deposit. You can see exactly where Cromeloan’s referral flow plugs into your meetings, checklists, and file notes. This makes it simple to document responsibilities, set expectations, and train your team. The referred loan becomes a repeatable part of your service model, not an exception.

Finally, this insight helps you communicate clearly with clients. When you can explain each step of the mortgage referred process in plain English, clients feel safer. They understand who does what, when they will hear from someone, and how issues will be handled. That clarity is often the difference between a client feeling “sold to” and a client feeling supported. It turns the idea of a home loan partner into something tangible that enhances your existing service.

Checklist: making the process real for your firm

• Schedule a walk through of Cromeloan’s client and broker journey.

• Map referral touchpoints into your existing client workflows.

• Decide how and when to talk about home lending in meetings.

• Capture a simple internal guide so staff feel confident.

What this means for Buyers

• Buyers hear a consistent explanation of the process from both accountant and lending partner.

• Clients know what to expect long before they sign a contract.

• The journey feels like a joined up referred loan experience rather than a handball.

• Confidence rises, which often leads to better decisions and smoother settlements.

Quick Q&A

Q: Why is a behind the scenes view so important for partners and directors?
A: Because it lets them test the process against firm standards, compliance expectations, and client care promises before rolling it out widely.

Q: How quickly can we start referring once we are comfortable with the process?
A: Once your firm is set up and staff are trained on the basics, you can begin referring clients immediately through the agreed pathways.

Disclaimer: The information in this article is general in nature and does not take into account your objectives, financial situation or needs. It is not financial, tax or credit advice. Before acting on any information, consider whether it is appropriate for your circumstances and seek advice from a licensed professional.