Browse Forums Home Finance Re: Standard loan turn around time? 22May 12, 2009 7:48 pm 1 day for conditional, 1 day for unconditional and only 3 days for valuation. I was rapt with that. Re: Standard loan turn around time? 24May 12, 2009 8:15 pm houseofl 1 day for conditional, 1 day for unconditional and only 3 days for valuation. I was rapt with that. And what year was that in? 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Standard loan turn around time? 25May 12, 2009 8:21 pm Gave the bank the go ahead to submit for approval last Friday (8th) at about 3pm. Got a call Monday (yesterday) at 10.30am - her first words were "all approved". Not bad. Re: Standard loan turn around time? 26May 12, 2009 9:04 pm Approval times would vary depending on the applicants/scenario. Some applicants are currently being approved within 24-48 hours if they fit the lending criteria. Basically, anything that needs to be referred to credit for approval of something outside policy (ie: short-term employmen) are taking up to 4-5 business days as the credit analysts are being bombarded with re-works due to various recent changes to the criteria. Re: Standard loan turn around time? 27May 13, 2009 12:42 pm lisanne houseofl 1 day for conditional, 1 day for unconditional and only 3 days for valuation. I was rapt with that. And what year was that in? It's probably a small lender such as a building society outside major cities. It's to do with volume, if they are quiet 5 business days is normal. in 2008, I have done a NAB loan that went to loan documentation in 4 business days from the start. Re: Standard loan turn around time? 29May 19, 2009 8:33 pm houseofl It is with ANZ. That's good to hear. I wasn't aware of the improvement in their turnaround times. Recently thanks to increase in deposit requirements, lenders have managed to reduce the amount of new loan applications. Re: Standard loan turn around time? 30May 19, 2009 11:23 pm Ours is a construction loan with ANZ and went quite well. It was a little unusual as we are in Singapore for another year and won't be back for another year. We had 14 days from contract signing to finance approval, and got approved on the 24th day after 2 extensions. We would have been approved on the 21st day if I didn't have to get my parents to scan some documents stored at their house. Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Standard loan turn around time? 31May 19, 2009 11:36 pm btherl Ours is a construction loan with ANZ and went quite well. It was a little unusual as we are in Singapore for another year and won't be back for another year. We had 14 days from contract signing to finance approval, and got approved on the 24th day after 2 extensions. We would have been approved on the 21st day if I didn't have to get my parents to scan some documents stored at their house. So you are an expat! Did you apply for the loan while you were overseas? If so,how did you arrange giving original documents to ANZ? Also the application form needs to be signed in the presence of a bank staffer or a nominated rep overseas. Isn't that right? Re: Standard loan turn around time? 32May 20, 2009 7:07 pm thlo So you are an expat! Did you apply for the loan while you were overseas? If so,how did you arrange giving original documents to ANZ? Also the application form needs to be signed in the presence of a bank staffer or a nominated rep overseas. Isn't that right? Yes we did! We got a mortgage agent and a solicitor to help. The documents we scanned and emailed to the agent who sent them on to the bank. I'm pretty sure we didn't need witnessing for the application form. Is it different if we go through an agent? Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Standard loan turn around time? 33May 20, 2009 8:22 pm Anyone waiting on formal approval from Homeside (nab)? We were originally told 6 days from our broker, its now been a month. I feel we're really pushing it now with the land estate, as we've just asked for our 3rd extension. Hopefully they grant us extra time because we really want the land but cant go unconditional until we get the formal approval. We keep harrassing the broker every 2nd day and he's aparantly doing everything he can. Wish there was something we could do to speed the bank up! Guess the land estate agents are getting the same deal with all sales at the moment though? Building Sahara 27 with Aaron J Re: Standard loan turn around time? 34May 20, 2009 10:19 pm We are going through cba and it took 1 day for pre-approval, and 1 week for conditioal approve. I was pleasantly surprised as i've read alot about cba being backlogged with work and things taking months to get aproved. We are waiting until July to sign our buildig contract, once signed i will fax it to our broker and they will past it onto the bank for valuation. Hopefully it wont take long for unconditional approve. Idiots are fun, that's why there is one in every village! - Dr. House - Re: Standard loan turn around time? 35May 21, 2009 12:23 pm Backlogs are mostly finished. Except homeside, as I understand, has become popular with the lower interest rate and 95% LVR. Re: Standard loan turn around time? 36May 21, 2009 12:37 pm thlo Backlogs are mostly finished. It probably helps too that all the first home buyers would now be waiting a few more weeks before submitting any paperwork 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Standard loan turn around time? 37May 21, 2009 12:40 pm lisanne thlo Backlogs are mostly finished. It probably helps too that all the first home buyers would now be waiting a few more weeks before submitting any paperwork hi lisanne, do you mean because of the FHOG Boost extension news? Re: Standard loan turn around time? 38May 21, 2009 12:43 pm thlo Backlogs are mostly finished. Except homeside, as I understand, has become popular with the lower interest rate and 95% LVR. Oh lucky for me then!! Idiots are fun, that's why there is one in every village! - Dr. House - Re: Standard loan turn around time? 39May 21, 2009 12:57 pm yes wonderland, you missed the depressing times (lending delays) by a whisker. Re: Standard loan turn around time? 40May 21, 2009 1:00 pm thlo lisanne thlo Backlogs are mostly finished. It probably helps too that all the first home buyers would now be waiting a few more weeks before submitting any paperwork hi lisanne, do you mean because of the FHOG Boost extension news? Yeah 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19097 What we have done in a few theatres ( including my own) is run 2 layers of 13mm gyprock, but sounds insulation especially for the bass is really tricky as a lot of that… 4 2569 There is evidence of water on the head reveals. That could have happened during the build, or may be happening currently. There are water stains above a couple of windows… 2 3830 |