Written by Gavin HarriganHow Long Does Pre-Approval Take?
Pre-approval times can range from a few minutes to over a week—depending on the lender and your documentation. Some digital lenders now offer same-day decisions, while traditional banks may still take several days. Understanding the process and knowing which lenders move fastest can help you plan your property purchase with confidence.
At Quantum Finance, we help first-home buyers, investors, and upgraders secure pre-approval quickly and easily. With over 20 years of mortgage broking experience, we know how to match you with the right lender to speed things up.
Quick Summary
- Fastest lenders: Nano, BEN Express (Bendigo), and Athena offer approvals in minutes.
- Major banks: CBA, NAB, and ANZ average 1–3 days, depending on the application.
- Slower lenders: Westpac, UBank, and others can take 5+ days for complex applications.
- Average timeframe: 1–5 business days.
- Pre-approval validity: Usually 60–90 days, with extensions available.
Fastest Mortgage Lenders in Australia (Ranked)
Below are the fastest mortgage lenders in Australia as of April 30th, 2025:
| Lender | Typical Timeframe | Key Highlights |
|---|---|---|
| Nano | Minutes | Instant unconditional approval, fully digital, no fees. |
| BEN Express (Bendigo) | Minutes | Fast digital pre-approval via Tiimely platform. |
| Tic:Toc (Tiimely) | Same day | AI-powered digital approval, most within a few hours. |
| CBA | 10 minutes (simple cases) to 4–7 days | Australia’s largest bank, with strong first-home support. |
| NAB | 15 minutes to 3 days | Fastest big bank with digital platform “Simple Home Loan.” |
| Macquarie Bank | ~4 hours | Strong broker support and quick online processing. |
| Athena | Seconds to 2–3 days | Fast online pre-qualification and low-fee model. |
| ANZ | 1–3 days | Hybrid process with good tools for buyers. |
| Suncorp (SunLight Loan) | <3 days | Fast-track available for eligible borrowers. |
| ING | ~2 days | Customer-friendly digital process and strong satisfaction ratings. |
| BoQ | ~2 days | Strong personal support with digital tracking. |
| loans.com.au | 2–3 days | Fully online, no branches, quick for simple loans. |
| Pepper Money | ~2 days | Flexible lending for complex or non-standard applications. |
| ME Bank | 3–5 days | Member-focused, slower for complex loans. |
| UBank | Up to 5 days | Fully online process, no branches. |
| Westpac | 1 day to 1–2+ weeks | One of the slowest major banks; improving via priority processing. |
What Affects Pre-Approval Time?
Several factors can influence how long your pre-approval takes:
- Lender platform: Fully digital lenders are usually fastest.
- Application complexity: PAYG income with complete documents = quicker.
- Manual reviews: Required for self-employed, high-LVR, or credit issues.
- Document submission: Missing or incorrect paperwork causes delays.
- Broker support: A mortgage broker can help streamline your process.
Helpful reading: 15 common home loan application mistakes to avoid
How Long Does Pre-Approval Last?
Most lenders offer pre-approval valid for 60 to 90 days. If your circumstances remain the same, this can often be extended—especially if you’re still house hunting. Once it expires, you may need to resubmit updated documents.
If you’re unsure whether to renew or apply again, our team can advise the best approach for your situation.
Tips to Speed Up Your Pre-Approval
- Have all documents ready (ID, payslips, bank statements).
- Use a mortgage broker to manage communications and lender selection.
- Consider digital lenders if your scenario is straightforward.
- Respond quickly to any additional requests from the lender.
How a Mortgage Broker Can Help
At Quantum Finance, we know every buyer’s journey is different. Whether you’re a first-time buyer or upgrading, our team can match you with the right lender for faster, stress-free pre-approval.
- Over 20 years of mortgage broking experience.
- Experts in digital, bank, and private lending solutions.
- We’ll compare lenders and chase approvals—so you don’t have to.
FAQs
What Is Pre-Approval?
Pre-approval (also called conditional approval) is a lender’s indication that you’re eligible to borrow up to a certain amount, subject to final checks. It’s not a guarantee, but it gives you buying confidence and a clear budget when house hunting.
Need help understanding how to get started? Read our guide to home loan pre-approvals.
How long does pre-approval take on average?
For most lenders, pre-approval takes between 1–5 business days, though some digital lenders offer decisions in under an hour.
Can pre-approval be done online?
Yes. Many lenders now offer full online applications, including digital document uploads and instant decisions.
Does pre-approval guarantee I’ll get the loan?
No—but it’s a strong indication. Final approval depends on a property valuation and any updated checks.
How long is pre-approval valid for?
Typically 60–90 days, with extensions available in some cases.
What’s the benefit of using a broker?
A broker helps you choose the right lender, ensures your application is complete, and follows up with the bank on your behalf—saving you time and stress.