How long does it take to approve my loan?

The loan application process

To help you easily understand the loan application process, here is a time line which illustrates the basic steps involved in purchasing a home or refinancing an existing loan and the approximate time frames for each step
Please note, time frames are subject to the lender selected, the valuer commissioned and the complexity of the loan application. The period from signing a Contract of Sale to Settlement – when the property becomes legally yours – is usually six weeks (shorter in some states, such as Queensland).

Fact Find

To provide you with a tailored home loan recommendation, we will ask you to provide us with information relating to your personal financial requirements and objectives. We are required by law under the NCCP (National Consumer Protection Act) to complete this process known as the Fact Find, we then use this information to assess your needs and provide you with a preliminary assessment of your loan entitlement.


During the interview we will discuss and help you select the most appropriate loan and lender that suits your needs. We research 100’s of different loan products across more than 20 different lenders. Once the most appropriate loan and lender has been found, and agreed upon, we then commence the loan application process

Loan Application Process

Takes 24 to 48 hours

We will request all the documents that are required to support your application. Once we have received these documents we will then lodge the application with the lender

Conditional Approval

Takes 2 to 3 working days

We will receive a letter or receipt of conditional approval on your behalf from the lender. This will also detail for any outstanding matters that may be requiring attention prior to full approval (unconditional approval) Valuations are also ordered at conditional approval if required

Valuation Report & Insurance Quotes

Takes 3 working days

Valuations are assigned to external professional property valuation companies and take 2 to 3 days to complete subject to the valuer having access to the property. We will then contact you to provide an insurance quote, lenders will require an in force insurance policy before settlement.

Unconditional Approval

Takes 3 working days

Once the valuation report has been returned to the lender and they deem the report to be satisfactory, and there are no outstanding matters, then an unconditional approval can be issued. We can now advise you to proceed with the property purchase, exchange contracts and place your deposit.

Mortgage Documents

Takes 5 to 10 working days

Generally the mortgage documents will be issued within 5 days of unconditional approval, these need to be completed accurately, as any inaccuracies will need to be amended. We can assist with completion of mortgage documents if required

Loan Settlement

Takes 5 to 10 working days

In NSW and other states, for example, settlement is booked after unconditional approval has been granted, and contracts have been exchanged. It would be normal to expect settlement 30 to 35 days from exchange of contracts

Loan application process