How Long Does Finance Approval Take?
The timeframe can vary depending on the lender, the complexity of your application and how quickly all required documents and information are provided.
As a general guide:
-
Conditional approval: May be available within a few business days once your application and supporting documents have been submitted.
- Formal approval: Once a property has been found, the lender will
generally need to assess the property and complete any remaining
checks before issuing formal approval. Due to the current SMSF climate
- turnaround times are currently 10-12 Business Days - Settlement: Once finance is formally approved and all other
requirements are satisfied, your loan can proceed towards settlement.
circa 10 Business Days
Some applications can be approved quickly, while others may take longer if
additional information, valuations or further assessment is required.
Our role is to help make the process as smooth as possible, keep you
informed along the way and work with the lender to help move your application
forward as efficiently as possible.
Please note: Finance timeframes, lending criteria and requirements vary
between lenders and individual circumstances. This information is general in
nature and should not be taken as financial advice