Processing Times

One of the most common questions asked is 'How long with it take to get an approval?" The answer depends on a number of factors.

A summary of the loan application process is outlined below along with estimated time frames. Processing times can vary at certain times of the year (Christmas etc) and depending on individual file types and loan complexity processing times can be longer. Providing all requested documents at each stage of the process greatly assist faster processing times.

Application Status
Estimated Time Frame
Initial Contact 1 business day after initial discussion for loan proposal and forwarding of pre-assessment forms. Time frames can vary if further information is required (e.g credit report or loan statements etc).
2-3 business days, upon receipt of ALL required documents including completed application form and loan proposal.
Conditional Approval
2-3 business days, after submission
Valuation Report
Usually 2-3 business days depending on ease of access and complexity. (subject to valuation firm service levels)
Formal Approval
2-3 business days after receipt of satisfactory valuation report, provided there are no outstanding loan conditions (as per conditional approval advice)
Loan Documents Issued
2-3 business days, after issue of formal approval (subject to solicitor service levels)
Settlement Title certification and settlement booking can be made usually within 2-3 business days of receipt of correctly completed loan documents. Settlement time frames will vary depending on individual files and discharging mortgagee (if a refinance).