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Buying a home

How long does the pre-approval process take and what should I expect?


If you’re shopping around for a house, obtaining pre-approval for a home loan is an important step. It allows you to narrow your search, and bid with confidence if you wind up at an auction.

How long does the process take?

Once you’ve completed your application for a Suncorp Bank Home Loan, you should receive a pre-approval outcome—whether the application is successful or not—within a couple of business days. In some cases, customers receive their answer on the same day.

To guarantee the fastest possible turnaround time, you should ensure that all information provided is as accurate as possible. You should take note of the required documentation and make sure that it’s all provided. This could include things like:

  • proof of identification,
  • recent payslips,
  • account statements, and
  • credit card statements.

What form will pre-approval take?

If you are successful in obtaining pre-approval for a Suncorp Bank Home Loan, you’ll receive a letter to that effect. The letter will specify the amount for which you’ve been pre-approved, as well as any special conditions. Our pre-approval puts you in a good position to make an offer, as long as any loan conditions (and your own personal requirements) are met. These could include things like building inspections, obtaining a vendor’s statement, and so on.

If you’d like more information about the application and pre-approval process, feel free to send us an enquiry. You can also book an appointment with a Suncorp Bank Mobile Lender, if you’d prefer discuss the process in person at a time and place that suits you.

For how long is pre-approval valid?

If you’re successful in obtaining pre-approval (congrats!), it will be valid for 90 days. After this period, any loan request will be treated as a brand-new application. Up-to-date documentation will be required, and your Suncorp Bank Home Loan Specialist will check whether your circumstances have changed.

What’s next?

If you’ve been successful in obtaining pre-approval for a loan, you should have a clearer idea of whether you can afford that house you’ve been dreaming of.

Any advice contained in this document has been prepared without taking into account your particular objectives, financial situation or needs. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs. Where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should consider the Product Disclosure Statement (PDS) making any decision regarding the product. Contact us for a copy.

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