How to speed up your home loan approval

Asking how long it takes to get a loan approved is like asking how long a piece of string is. Every application is unique, so the time between your first contact with your bank or broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along.

Although very rare, same-day loan approvals are possible depending on the lender’s criteria, the complexity of the deal and turn around time. “In my experience,this has been possible when the client’s lending position is fairly straightforward in terms of employment, asset and liability position,” says an MFAA accredited finance broker. “Also, if a valuation wasn’t required due to a low LVR and both parties were happy with the contract price.”

If you’re not prepared, it could take up to a month. The most common reason for a delay is a lender’s turn around time to assessment, especially when some lender shave competitive offerings and experience larger application volumes, but a lack of preparation can cause this delay to snowball. “When there are such delays and then a lender must organise a valuation or request further information, this can lead to a lengthy process time,” the broker says.

A good finance broker will help you take all the necessary steps to ensure fast home loan approval, but there are simple ways you can help hurry the process along before your first meeting with your broker.

Disclose all information

To avoid back and forth requests, which can delay your application, ensure your lender has a thorough understanding of you as an applicant including appropriate identification of all borrowers. Provide all the supporting and necessary documents upfront to your broker, and convey as much detail as possible in relation to your requirements and objectives and have good, current information on your financial position. The broker will need to not only have your full financial details but will also need to take reasonable steps to verify it.

Skip the valuation queue

Not all applications require a valuation, depending on the property and lending institution, and forgoing this step can save a considerable amount of time. You can also save time by having a valuation completed prior to your application,as long as it’s accepted by your chosen lender – but check with your broker first.

Should you have any questions or comments, please do not hesitate to contact me.Champion Accountants Group Pty Ltd
ABN : 141194096
Chris Teck Ling
Phone : 0404 622 783
Mobile: 0433 338 819
Email : info@championaccountants.com.au

82 thoughts on “How to speed up your home loan approval

  1. I wanted to put you one little word to give thanks as before for your marvelous information you’ve contributed on this page. It has been quite remarkably generous of people like you to deliver openly what a number of people could have made available for an e-book to generate some bucks for their own end, most importantly now that you could have done it if you ever wanted. Those thoughts as well acted to become a easy way to comprehend other people have the same fervor just as mine to know very much more pertaining to this condition. Certainly there are some more pleasurable opportunities in the future for people who see your blog post.

    https://www.goodreads.com/quotes/9937934-pores-and-skin-treatment-for-males-do-s-and-don-ts-for

  2. I really wanted to compose a small comment so as to say thanks to you for those remarkable techniques you are sharing on this site. My rather long internet look up has at the end of the day been paid with pleasant facts to go over with my family and friends. I ‘d assume that many of us site visitors actually are really endowed to dwell in a superb network with very many special professionals with useful advice. I feel pretty lucky to have encountered your site and look forward to some more excellent moments reading here. Thank you once again for a lot of things.

  3. Thanks for your article. One other thing is always that individual American states have their own personal laws of which affect homeowners, which makes it quite difficult for the the nation’s lawmakers to come up with the latest set of guidelines concerning property foreclosures on people. The problem is that each state features own regulations which may work in an adverse manner with regards to foreclosure guidelines.

  4. Once I originally commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get four emails with the same comment. Is there any approach you may take away me from that service? Thanks!

  5. hey there and thank you to your info ?I have definitely picked up something new from right here. I did alternatively experience a few technical issues using this site, as I skilled to reload the site a lot of times previous to I could get it to load correctly. I had been wondering in case your web hosting is OK? Now not that I’m complaining, however sluggish loading instances times will often affect your placement in google and could harm your high quality rating if advertising and ***********|advertising|advertising|advertising and *********** with Adwords. Well I抦 including this RSS to my email and could glance out for a lot extra of your respective intriguing content. Ensure that you update this again soon..

  6. Though i have learned about it but after read your articles, i just realized the amount of knowledge that i missed. Thank for your shared. Ethel Perren Raynold

  7. Everything is very open with a clear explanation of the issues. It was truly informative. Your website is extremely helpful. Thanks for sharing. Agnes Mord Etom

  8. I and my guys came looking through the best strategies found on the blog while quickly developed a terrible feeling I never expressed respect to the blog owner for those tips. Most of the men became as a result very interested to learn all of them and have now absolutely been having fun with these things. Appreciation for really being very accommodating and then for having such notable ideas most people are really eager to learn about. My very own sincere regret for not saying thanks to earlier. Arlina Ozzy Jacqueline

  9. Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a bit, but instead of that, this is great blog. An excellent read. I will certainly be back. Teresa Martie Lindsay

  10. we like to honor a lot of other web sites on the web, even though they arent linked to us, by linking to them. Under are some webpages worth checking out Charis Mal Cima

  11. I really love your site.. Great colors & theme. Did you develop this amazing site yourself?
    Please reply back as I’m trying to create my
    own personal blog and want to learn where you
    got this from or what the theme is called.

    Thanks!

  12. I think other site proprietors should take this site as an model, very clean and magnificent user friendly style and design, as well as the content. You are an expert in this topic! Annalee Mateo Schafer

  13. I appreciate, cause I found exactly what I was looking for. You have ended my four day long hunt! God Bless you man. Have a nice day. Bye Cosette Fidelio Shieh

  14. Does really weeka for your task to be reviewed. Took multiple courses and was certified but I it always says no task in the queue. Tried segmentation and was ablw to to 20 task but they are still for review. Evangelia Perkin Erastatus

  15. ZFN Liker, Autoliker, Photo Auto Liker, autolike, Photo Liker, auto like, Increase Likes, Auto Like, auto liker, Working Auto Liker, Autoliker, Status Liker, Status Auto Liker, Autolike, Autolike International, Auto Liker, autoliker Kizzee Aldous McCarthy

  16. Thanks a lot for providing individuals with a very pleasant chance to read critical reviews from this web site. It really is so amazing and packed with a great time for me personally and my office fellow workers to search your blog a minimum of 3 times in one week to read the fresh items you have. And definitely, I am also certainly impressed with all the outstanding tricks you serve. Certain 3 facts in this posting are basically the most beneficial we have all ever had. Atalanta Wald Tat

Leave a Reply

Your email address will not be published. Required fields are marked *