Estimating the time-frame for a home loan approval in the current lending climate can be more like a guesstimate rather than an accurate calculation. However, there are ways you can speed up the process and reduce the stress.

Posted in: Insights


Be prepared: Disclose all information related to your finances upfront, and provide up to date supporting evidence.

Handy tip: think about easily overlooked things such as:

  • salary sacrifice arrangements
  • items on Afterpay or ZipPay
  • store cards
  • gym memberships
  • streaming subscriptions

If an assessor can find it, they will ask, be prepared in advance.

Quick communication: Credit assessors are under the pump; therefore they delegate a certain time for each application. If they need more information from you, and your broker can’t get in touch with you, back in the queue your file goes. Quick responses to your broker definitely help.

It’s your choice: Brokers provide multiple lending options where they can. They should also let you know who is currently the fastest. The cheapest option may also take the longest, set your expectations in line with the lender you choose.

Plan it out: It’s always the obvious, but if you need a fast approval, consider your scheduling.

  • Don’t go away interstate or overseas where your broker cannot reach you.
  • Close any credit cards or personal loans not continuing, prior to the application.
  • Buying an investment? Get a rental appraisal done upfront.
  • Ensure someone is home for a valuation.

Simply being available is the key to a quick turnaround.

If you’re looking for a fast approval, our experienced Mortgage Brokers can help guide you in the right direction - call us today on 08 8300 8300.

The information provided in this article is general in nature and does not take into account your personal circumstances. Since everyone's personal situation is different, this article should not be taken as advice.