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please explain the loan settlement process whaich are: Application Pre-approval, conditional approval Formal approval Solicitor or conveyancer engaged Contracts Exchanged Loan agreements and mortgage documentation

please explain the loan settlement process whaich are:

Application
Pre-approval, conditional approval
Formal approval
Solicitor or conveyancer engaged
Contracts Exchanged
Loan agreements and mortgage documentation prepared
settlementtime and date
Final settlement

(please explain each points)

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