Browse Forums Home Finance 1 Jun 23, 2009 10:08 pm Hi, Does anybody know how long you should expect to wait to recieve notification of unconditional approval from Westpac. They told us it should be 14 days but many people I have talked to say to expect longer.
Anybody here have any experience with Westpac or even other lenders? Cheers Re: Loan approval times 2Jun 23, 2009 10:23 pm We just sold our house and it took the buyers 3 weeks to get finance. Not sure of which bank sorry, but I believe 3 weeks is the minimum. Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Loan approval times 3Jun 23, 2009 10:30 pm Tornado_ALIVE Anybody here have any experience with Westpac or even other lenders? Cheers There is a new member who is a Westpac employee. He should be able to give current and up to date information. Re: Loan approval times (Westpac) 4Jun 23, 2009 11:07 pm Hi I have refinanced recently with westpac and i had my unconditional approval within the 14 day period advised to you. Good Luck ! I had no problems and everything went smoothly for me unfortunately whoever you go with it's a waiting game. I think all up it took roughly a couple of months or may have been a bit less but not much. Re: Loan approval times (Westpac) 5Jun 24, 2009 10:42 am jbaby Hi I have refinanced recently with westpac and i had my unconditional approval within the 14 day period advised to you. Good Luck ! I had no problems and everything went smoothly for me unfortunately whoever you go with it's a waiting game. I think all up it took roughly a couple of months or may have been a bit less but not much. Lucky you... I'm still sitting there waiting for my Homestar/CBA.... sigh... Almost 4 weeks... Re: Loan approval times (Westpac) 6Jun 24, 2009 10:53 am Mine took about 6-7 weeks to be approved by Westpac '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: Loan approval times (Westpac) 7Jun 24, 2009 1:09 pm We have just received unconditional approval from Westpac after 8 business days. We were originally going to go through homeside but after 6 weeks we still didn't have conditional approval so we went to Westpac. We are already customers so this may have made things a little quicker. Good Luck! Re: Loan approval times (Westpac) 8Jun 24, 2009 2:51 pm from conditional to unconditional it took about 4 weeks for us ! Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Loan approval times (Westpac) 9Jun 24, 2009 10:06 pm Hang in there ! It's a pain waiting though. I must admit I did do a bit of pushing so they wouldn't forget me. Yiima jbaby Hi I have refinanced recently with westpac and i had my unconditional approval within the 14 day period advised to you. Good Luck ! I had no problems and everything went smoothly for me unfortunately whoever you go with it's a waiting game. I think all up it took roughly a couple of months or may have been a bit less but not much. Lucky you... I'm still sitting there waiting for my Homestar/CBA.... sigh... Almost 4 weeks... Re: Loan approval times (Westpac) 10Jun 25, 2009 6:34 pm Hi there, Our credit team are currently running within expected timeframes. It would depend on the workload of your home finance manager but generally 14 days will be plenty at the moment. Cheers, Bill Re: Loan approval times (Westpac) 11Jun 25, 2009 6:45 pm Thanks Bill, Great to know. Paperwork went in today so the ball is now rolling. Fingers crossed. Re: Loan approval times (Westpac) 13Jun 26, 2009 2:38 am ANZ, 21 days (plus a weekend because I didn't have some documentation ready on a Friday). 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: Loan approval times (Westpac) 14Jul 02, 2009 12:23 am Hi Tornado How is everything going? Any news yet? J Baby Tornado_ALIVE Hi, Does anybody know how long you should expect to wait to recieve notification of unconditional approval from Westpac. They told us it should be 14 days but many people I have talked to say to expect longer. Anybody here have any experience with Westpac or even other lenders? Cheers Re: Loan approval times (Westpac) 15Jul 02, 2009 1:13 pm Hi, question for everyone buying and wiating for final approval. Do you go ahead with the contract anyway i.e. when the 5 day cooling off period is up and you;re still waiting on final approval and maybe bank valuation, do you ask for an extension to the cooling off period or just go ahead and hope like hell you get the final approval as this is what my conveyancer has advised. Worrying stuff.... Re: Loan approval times (Westpac) 16Jul 02, 2009 9:09 pm [quote="jbaby"]Hi Tornado How is everything going? Any news yet? J Baby [quote] Was told yesterday that they should have word from the Valuation on Friday. Everything still on track as far as they are aware. Re: Loan approval times (Westpac) 17Jul 07, 2009 4:05 pm jen666 Hi, question for everyone buying and wiating for final approval. Do you go ahead with the contract anyway i.e. when the 5 day cooling off period is up and you;re still waiting on final approval and maybe bank valuation, do you ask for an extension to the cooling off period or just go ahead and hope like hell you get the final approval as this is what my conveyancer has advised. Worrying stuff.... I signed and then waited for final approval from westpac. Very worrying stuff. Many sleepless nights hoping that they approved. Thank goodness they did. Apparently its common to do this. Many contracts do state that you have to show an ability to pay the contract ( eg savings shown or bank approval) or the contract can be voided. If you havent shown them any preapproval papers this could work in your favour if the bank were to reject. Are you super confident they will aprove??? Its a silly move to sign first but I did it and Im glad i did. Just check your building contract to see what the outcome would be if they decline finance Living in Caloundra Thread****** Lovin my house all finished!!! Now tackling the HUGE task of the Garden- viewtopic.php?f=31&t=14782 Re: Loan approval times (Westpac) 18Jul 07, 2009 4:45 pm Took us about 6-7 weeks for unconditional approval with westpac for our land- ie, after valuations and everything - but that was earlier this year when things were a bit crazier I believe... I'll be putting my construction part of the application in for final approval in the next week or so and am hoping will be unconditionally approved in a few days since as we already have preapproval done - fingers crossed ! Good Luck! 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