How long does it take to refinance a home loan?

It depends. Typically, refinancing is completed in 45-60 days however it can be much quicker with FASTRefi. This process allows lenders and customers to refinance their home loan in days instead of weeks. If your current lender is a participant, using FASTRefi means you can enjoy the benefits of your new loan sooner.

The 5 main steps in refinancing are: application, approval, contract, settlement, payment.

Our online application process will take you about 15 minutes to complete. After which, we’ll be able to let you know whether your refinancing application has been approved — or declined.
Our process is fast, however it depends on the complexity of your application (and whether we need any additional information, such as updated payslips or a bank statement) and the number of applications we're processing at the time.

Our fastest fully-approved applicant - from the time their application was submitted (including assessment, verification, and running all our digital checks) was 58 minutes. However, actual approval times depend on individual circumstances. Once you’re approved, we’ll send you a contract to sign.

Next is the final settlement and payment process.
This is where the money is transferred.

When refinancing, the money is transferred on the settlement date between loan providers (your current lender and Tiimely Home). The settlement date is when both banks have everything they need to transfer the loan. This can take up to 3 weeks and is generally arranged between our solicitor/conveyancer and your current bank’s settlement department.