How long are CBA taking to process loans at the moment?

Hi guys,

Kind of a vague question, but just wondering if anyone has an idea of the processing times with CBA at the moment. Last time I applied for a home loan with them it took 3 weeks to get the unconditional approval (paperwork was submitted in Melbourne).
 
Hi mortza

Lodged 19/02/2010, Conditional Approval 24/02/2010, Ready to Settle now for 26/03/2010

Lodged pre-approval 16/03/2010, conditional Approval 18/03/2010

As always, depends on the deal

Other deals are not so speedy, and once further documents are asked for then much depends on when the applicant provides the extra information

Cheers
Kristine
 
Hi mortza

Conditional Approval means, in effect, that the lender is happy with the customer, their financials, their credit check, and the deal as presented

The Conditional Approval is prior to valuation of the property or the acceptance by the mortgage insurer

Both files were for 97%LVR inc capitalisation of the LMI

Cheers
Kristine
 
On broker deals it does depend a little as to if u are a "diamond"

if yes, then usually 2 days max, if not ..........case by case and i can be q week or so. 3 weeks seems unusual, but then I have a simple build in at wesuck that took 4 weeks instead of 4 days ...........

ta
rolf
 
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