Current Service Levels

Current Service Levels
Effective 7 January 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.
  • 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 2 business days
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 4 business days 
Returned documents received to formal approval 3 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 2 business days
Settlement scheduled and/or completed (following receipt and acceptance of correctly executed documentation) 2 business days