Browse Forums Home Finance Re: How long for home loan approval? 24Jan 16, 2009 4:40 pm thlo Home loan approval times fluctuate greatly week by week and also by the lender in question. There is no way of predicting service levels as it depends on what the lender's staffing levels are like and how they view your home loan application. Because volume of home loan applications fluctuate greatly these days and the assessors take longer to examine more carefully, you can only have an estimate of turn around times at the time of submission (so your bank lending manager / mortgage broker should call you after your application is submitted and give you this information) . But there is no excuse for not communicating to the customer what the expected turn around times are. It is the basic requirement of a consulting service, that your home loan broker/ bank lending manager has to inform you at each milestone what has happened and what will happen next and when. Always demand updates from your lending manager, if they don't update you on a regular basis. 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 18894 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35189 1 2884 |