All Topics / Help Needed! / How long after finance approval can you settle?

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of howardcmhowardcm
    Member
    @howardcm
    Join Date: 2008
    Post Count: 65
    January 5, 2009 - 5:11 am

    Hey everyone,

    Just wandering how soon after you receive finance approval from your lender can you settle?

    Can you do it straight away or do you have to wait for your lender to give you the go-ahead?

    How long does this normaly take

    Thanks!

    Profile photo of Skip101Skip101
    Member
    @skip101
    Join Date: 2005
    Post Count: 33
    January 5, 2009 - 8:18 am

    It varies from lender to lender, but 14 days is a good rule of thumb guide if everything goes to plan.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 5, 2009 - 8:23 am

    First they have to prepare the mortgage documents and post them to you, you then have to sign them and send them back. They then have to process them and then book in settlement with the other party. This whole process can take weeks, but it can be done in a matter of days if necessary. You might even be able to pick up documents and sign them on the spot in some instances.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.