Unconditional Approval for Homeside Loan

[Cherry Pro]

Has anyone here experienced a slow approval process ?

It's been a week since we put all papers through and have still not heard from Homeside's Credit Team despite best efforts from our mortgage broker.

Thanks.

 

[Rob Williams]

Homeside is my bank of choice right now. They have done really well for me.
I've financed with them twice in the last 6 months and have just done a loan top up with them.
The top up went smooth and quick from application through to docs being issued, however, there were a couple of "fllat spots" along the way while they fluffed around looking at or verifying stuff. Other than that, I've been mightily impressed with them.
Sadly, I've probably reached my exposure limit with them, so doing my current deal with Westpac.

 

[Rolf Latham]

geeze 5 days is slow , many times 5 days is great

Having said that for an 80 % lend at HSL they do promise 72 hrs, just hard to work out if thats 72 business hours

ta
rolf

 

[Spectre]

current hsl levels are

Electronically approved without LMI 2 business days
Credit Referred deals without LMI 5 business days
Electronically approved with LMI 5 business days
Credit Referred deals with LMI 8 business days

Add in to that 1-2 days for time that it took the broker to prepare the support pack and HSL to acknowledge the file/receipt. Dont include weekends

They keep their service level updates here (hope the link works)

https://www.nabbroker.com.au/HSL/PU...Items/news_31_new_homeside_service_update.asp