Current Service Levels

Current Service Levels
Effective 02 April 2024

* REFINANCES - see below

These service levels are for new application assessment.

N.B. Uploaded documents received after 5pm AEST will not be counted as received until the following business day.

# Pre-approvals will no longer be accepted until further notice except for the following conditions:

Existing Heritage Bank customers
Construction portion of a land and build loan
In conjunction with a refinance application (Bridging Loans excluded). N.B. When lodging these applications, they will need to be submitted as 2 separate loans at the same time in AOL with each application referencing each other. The AIP must include any cash out component for the purchase and be cross collateralised with the refinance.
If above conditions are met, the current service level will be 7 business days to commence assessment (once supporting documents uploaded successfully in AOL)

Pre-assessment time frames	Current Service Level
Initial review (confirmation of mandatory supporting documents uploaded successfully in AOL)	2 business days
Returned documents for subsequent review	2 business days
Assessment time frames	Current Service Level
Commence assessment (once supporting documents uploaded successfully in AOL) - PURCHASES	2 business days
Commence assessment (once supporting documents uploaded successfully in AOL) - REFINANCES*	5 business days
Returned documents received to formal approval - PURCHASES	2 business days
Returned documents received to formal approval - REFINANCES*	4 business days
Post approval time frames	Current Service Level
Preparation of Loan offer documents (emailed or mailed directly to the client, as per the application form, following Formal Approval)	4 business days
Returned documents reviewed, certified and accepted (we will prioritise certification based on settlement date for purchases)	2 business days
Settlement scheduled and/or completed (following receipt and acceptance of correctly executed documentation)	2 business days