Current Service Levels

Current Service Levels
Effective 23 June 2022

NOTE: You will not be able to escalate an application within the advertised Service Levels.

These service levels are for new application assessment.

* 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) 1 business day
Returned documents for subsequent review 1 business day
Assessment time frames Current Service Level
Commence assessment (once supporting documents uploaded successfully in AOL) - PURCHASES 4 business days
Commence assessment (once supporting documents uploaded successfully in AOL) - REFINANCES* 6 business days 
Returned documents received to formal approval - PURCHASES 4 business days 

Returned documents received to formal approval - REFINANCES*

 19 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) 3 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