When Can I Get the Money?
With any home loan lender there are many people involved
in the process of approving and settling your loan (eg.
valuers, insurers, solicitors). Because everyone's circumstances
are different each loan application requires care that
everything is properly organised. To achieve a quick settlement
of your loan Onyx maintains strong control of the application
process and a good communication with you.
Same Day Approval-in-principle
Within 24 hours we can provide an approval-in-principle.
Formal Approval
Formal approval is provided after:
- You provide verification documentation
- Your credit history has been checked
- Property valuations are completed
- Mortgage Insurance approval is obtained.
Formal approval will normally take around
five working days from receipt of the loan applications
and all verification documentation.
Conditional Approval
Approval can be provided subject to a particular condition.
For example, provision of a contract of sale and valuation
where you are looking to buy a property at auction.
Settlement
Once you receive formal approval our solicitors will issue
you with loan documents generally within two days. Settlement
will occur after you return the documentation. Our solicitors
will arrange to pay all parties involved (eg. loans being
refinanced, vendors) and timing of the settlement will
depend upon the availability of all parties. Settlement
will be a minimum of two days after receipt of your fully
completed loan documents.
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