current NAB assessment time?

Does anyone know the approximate time for assessment with NAB at present? I've had some serious chain dragging going on by my professionals and quietly (well not so quietly) freaking out that we won't make settlement.

In the past with hairy timeframes I've had CBA docs emailed to a branch for me to pick up. Does NAB have this facility available also?

 

One day with Nab Broker usually.

Cheers

Jamie

 

Pretty slow according to broker site - up to 4 days for unconditional, and another 4 to issue docs, then another 4 days to certify.

 

They do take their time certifying docs (4 days), but approvals are super quick from NAB. Same day, two day happens quite often with them.

Cheers,
Redom

 

I am doing a restructure for a client atm and they are extremely slow with that.
For purchases they are a ot quicker though.

 

I find them to be one of the most consistent lenders with turnarounds. I usually get same day - or day after for approval. Docs are usually quickly posted out too.

 

NAB and NAB Broker are two different channels.. Same as Jamie if I have all of the documents on hand, We have no issue in getting an approval done within a day or two.

 

Hi jp
how do the other majors, anz, west pac and cba rate these days in approval times, issue of docs and certifying them

thanks

 

Can depend on brokers status with the particular lender - same day or one to two days is common if val has been carried out or isn't required.

 

And the type of application, whether LMI is necessary, what entity the borrower is, complexity, etc.

Plenty of brokers here would have priority access to some lenders that may speed it up a little (depends on the lender).

Cheers,
Redom

 

Hi Kr11,

What i find is if I have all of the documents and have ordered a valuation up front then I tend to find the process quick. In terms of issuing documents, it all depends on what type of loan is being set up "Etc". My favorite saying is this...

it takes two of us to get the deal done: Client prepared what is needed and I prepare the loan structure and submit!!!

 

Ours took ages just now, but maybe they didn't like us.
We had to ask for an extension to the finance date a couple of times.

 

I had heaps of issues too, ended up getting 2 weeks of extensions but hopefully I get the docs in the mail tomorrow!!

 

Not happy to hear about your delays, buy good to hear I'm not the only one.
Congrats!

 

It seems nab have got alot tougher on the 90% lvr front also. Even though my friend could service the proposed loan, with cashout they wanted contract of sale of new ip b4 allowing 90% cashout of ppor. Not simply an accountant letter.

 

What was the purpose of the cash out - accountant letter won't do if your trying to buy a new property, but will likely do (with NAB!)if trying to invest in shares.

Cheers,
Redom

 

It was for new ip. Having said that is there anyone to stop him saying it is 4 shares and then using it for something else

 

Yeah sometimes the Nab assessor will request one....weird I know. Because the accountant will then turn around and say "I didn't advise you to buy an investment property."

Usually for when the cashouts are massive though.

Who knows these days. I had a 90% cashout with Nab formally approved without hassle the other day. Just told them it was being used as the deposit/costs on a property worth $xxx

Cheers

Jamie