Processing Time Frames
Service SLA's for new application assessment: as at 25 May 2020
* 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
|Assessment timeframes||Standard SLA||Current SLA|
|MDR - confirmation of mandatory supporting documents||1 working day||within SLA|
|Conditional Approval (following receipt of mandatory supporting documents)||3 working days||within SLA|
|Formal Approval (following receipt of acceptable valuation and any/all additional requirements)||2 working days||Outside SLA by 2 days|
|Post approval timeframes||Standard SLA||Current SLA|
|Preparation of Loan offer documents (mailed directly to the client following Formal Approval)||3 working days||Outside SLA by 1 day|
|Returned documents reviewed, certified and accepted||2 working days||within SLA|
|Settlement scheduled and/or completed (following receipt and acceptance of correctly executed documentation)||2 working days||within SLA|
Quick tips for a streamlined application:
- Ensure all Evidence of Commitments include most recent month's transactions, account ownership details and current balance/limits.
- Certify all ID as True & Correct, ensuring the date and signature is included in certification. Remember to check applicant's names and dates of birth are consistent across all ID provided.
- Check you've completed the second page of the Package Application Form with card limits and personal details.
- Don't forget to sign the broker declaration on the front page of the application form and have the customer/s sign the back page of the form.