Hi, I am trying to apply new home loan. Which bank is the fastest to get full approval? And how long does it take?
Home Loan Quick Approval
Luna2022 on 19/05/2025 - 21:48
Last edited 19/05/2025 - 21:48
Last edited 19/05/2025 - 21:48
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I go live next week with a 10min pre approval*!
- provided credit checks and serviceability is ok.
Macquarie is very fast from experience, particularly though the broker channel
Do you know how fast is macqurie? Westpac promised me for 3-5 days but now screw me up. And i need to find new one
Mine was within 24 hours after being screwed for weeks by HSBC
Talk to a home loan broker. It will costs you nothing.
Usually, the fastest is the bank you are already dealing with.
Combank was quick for me, St George/BOM were extremely slow.
How quick is combank? Do you go throught broker or direct to the bank? Thanks
Going directly to the bank was loads faster than going through a broker.
Took around a week, maybe less, this was a few years ago and LVR was extremely low. The smaller banks are more risk adverse and often scrutinise your application more closely, questioning your spending habbits etc, which can lead to delays.
Just slip the bank manager a folded up pineapple from your palm when you shake his hands.
You don’t need to seek approval you are strong and independent, you can do this 💪
Do not rush, wait for the end of this crook.
"he’s ‘finished, done, gone’"
https://au.news.yahoo.com/trump-wiped-elon-musk-name-1508482…
Fast, quality, cost.
Pick 2 out of 3.
Don't go ANZ. Their approval team is overseas based and it takes a month.
That wasn't my experience. Broker issued the paperwork Tuesday afternoon and received full approval Friday just after midday.
They were also the cheapest overall rate & monthly repayment, only $10/month offset account, paid $3,000 cashback within few weeks and their app is handy to monitor mortgage. No issues.
I went with Tiimely, it was very fast for approval as it's all algorithmic. If you can get your docs in right I got pre-approval in a day and the full approval in another day.
That being said, it's all dependent on how easy you are to lend to and what you're buying. Something simple like a house or apartment in the suburbs, a salaried job and money in the bank, it's fast. Self-employed, some weird property and a bunch of harder to verify assets and they're not going to be as fast or keen.
Go have a chat with a broker. They'll be able to see SLA times (and their own experiences).
Realistically, most of the majors should turn around anything quite quickly at the moment if you aren't particularly complex.
For data point, ANZ got a fully assessed pre-approval (which is usually lower priority than a new purchase with contract) done in under 48h recently for me.
Edit: definitely have a chat with a broker - the bottleneck will be getting the valuation done, and they'll be able to see what each bank requires (desktop, drive-by, full valuation, etc.) and choose from one that will do a quick desktop val.
Honestly, most of them will be able to get you through. They want you business and assuming you can pass their checks, they will make it happen.
That depends on you, your personal details (history, married status, kids), your specific variables (debts, income and expenses), and your peceived risk profile to them.
Should be within a day or two for a pre-approval and around 3-5 working days for full approval via a good broker.