Curious which steps really speed an application and which ones slow it down?
This short guide shows people what lenders look for and how the process moves from pre-approval to settlement.
It explains why clear information and proof of income matter, lists the first documents to gather and highlights tools like a borrowing power calculator and lending specialists available online, in-branch or by phone.
Readers will learn how deposit size and loan-to-value ratios shape product choices, rates and possible LMI, and why a valuation or credit check can affect timing.
The aim is simple: reduce surprises, improve application quality and help applicants know which stage they are at and what to provide next.
What they look for before you apply
The first things a lender inspects are your income stability and how you manage day-to-day accounts.
Assessors check your capacity to meet repayments on the requested amount after adding interest. They will review regular income, existing commitments and living expenses to see if serviceability is realistic.
Credit and credit history matter. Clear records and timely payments make assessments smoother. Applicants who supply income proofs, statements for current debts and clear expense information speed up processing.
The size of your deposit affects LVR and may change available rates or trigger LMI. Lenders also compare the property type and price against your deposit to confirm the home loan fits your goals.
Practical tips include checking your credit file early, cutting unused credit limits and keeping bills paid. Using pre-approval is one of the best ways to set realistic price brackets and shop with confidence.
Heritage Bank loan requirements explained
Credit assessors focus on whether applicants can meet repayments once interest and buffers are applied.
Serviceability sits at the core: the file must show affordable repayments after adding interest and policy buffers. A clear income record and matching bank account statements speed assessment and reduce follow-up questions.
Security is reviewed too. A valuation may be ordered to confirm the property supports the requested home loan and meets lending standards.
Deposit size and LVR influence the available rate and fees. Higher LVRs can increase costs such as mortgage insurance and affect interest rates or package pricing.
Applicants should supply ID, payslips or financials, statements for existing debts and details of other commitments. The credit team will check credit history and the property’s location, type and condition as part of the risk profile.
A transparent application with verifiable evidence helps the process move smoothly through document checks, valuation (if needed) and credit review.
Documents you’ll need to get started
Before you start an application, assemble key documents so assessment runs smoothly.
Provide current photo ID and proof of address. Include recent payslips, tax summaries or accountant statements to show income for a loan application or home loan application.
Attach statements for any existing loans, credit cards and your main transaction account so assessors can verify liabilities and spending patterns. Add a short list of regular expenses — rent, utilities, insurance and childcare — to support a realistic household budget.
Have a contract of sale ready if purchasing, or a discharge form if refinancing. A valuation may be ordered during the process; provide property access details quickly to avoid delay.
Downloadable checklists are available and reduce back‑and‑forth with the credit team. If unsure about any information, contact a lending specialist online, visit a branch or call 13 14 22 for help with products and next steps.
How the home loan application process works in practice
A simple phone or branch meeting with a lending specialist often makes the whole application process clearer. They discuss products, fees and likely interest rates so applicants understand options before they apply.
Next, the adviser reviews your deposit and the amount you plan to borrow to show how LVR affects pricing and possible mortgage insurance. This step helps set realistic budgets for the property you want to buy or refinance.
Consider seeking pre-approval to shop with confidence within a defined price range. Once a product is chosen, the application is prepared and forms are signed. A valuation is ordered if required and the file goes to credit assessment.
The credit team checks ability to repay and credit history. If extra documents are needed, the bank will ask — fast replies keep the process moving. With complete paperwork, many people get an outcome in about 1–2 weeks.
Your specialist remains available to explain steps and provide help on timing, conditions and next actions so the journey stays on track.
Simplified steps
Apply for your Heritage Bank loan
Follow the detailed step-by-step guide.
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From approval to settlement
Once approval arrives, applicants will see any outstanding conditions that must be satisfied before funds are released.
The credit team prepares the full home loan documents and sends an approval letter outlining conditions, such as a satisfactory valuation. Originals must be signed by all borrowers or guarantors, and some papers need witnessing by a JP.
Return originals before any stated deadline so the credit department can verify signatures and move to booking settlement. The team will liaise with your solicitor or conveyancer to obtain transfer paperwork, payout figures and cheque directions for the property transfer.
Make sure your account holds cleared funds for any additional amounts required at settlement. For purchases, settlement occurs on the contract date; for refinances, timing depends on your outgoing lender’s notice period.
Your specialist remains the main contact for queries, document checks and last‑minute verifications. Accurate signing and prompt communication reduce delays and help the application transition smoothly to funded status and ownership transfer.
Ways to improve your chances of getting loan approved
Simple actions before applying can make a big difference to an approval outcome. Start with pre-approval to set a realistic budget and show sellers and agents you are prepared.
Strengthen credit by paying bills on time, reducing unused limits and checking your credit report with Equifax for errors. A clean credit history reduces follow‑up questions during assessment.
Build a healthy account pattern: have salary paid into your main account, pay fixed expenses from it and save regularly. Avoid overdrawing as fees and bounced items can signal cashflow stress.
Use the borrowing power calculator to estimate what you can comfortably afford. Consolidate current payslips, card statements and expense lists so you can respond fast when the credit team asks for documents.
If unsure, speak with lending specialists online, in branch or on 13 14 22 for personalised help. Leave a buffer in your budget for rate changes so repayments remain manageable.
Next steps to move forward with your application today
Book an appointment with a Heritage lending specialist by phone, video or face-to-face to discuss products, fees and rates. They will review deposit size and LVR and help set a realistic property and price range.
Organise pre-approval so you can shop with confidence. Start your loan application with a complete document pack to speed the application process and reduce follow-up requests.
Expect an outcome around 1–2 weeks after full submission. If approved, sign contract documents promptly and arrange any required witnessing by a JP. Credit will check execution and work with your solicitor or conveyancer to book settlement on the contract date.
Keep cleared money ready for settlement, verify final figures and use a borrowing power calculator if you need to adjust your target list. Stay in regular contact with lending specialists while the file moves through assessment and settlement.
