The Turnaround Time Crisis: An Interactive Guide

The Turnaround Time Crisis

Loan turnaround time is a foundational element of client satisfaction and directly correlates with repeat business. The data shows that the **broker channel lags behind the proprietary bank channel** in delivery speed satisfaction. This intelligence hub transforms the challenge into an opportunity, giving you actionable data and strategies to guarantee faster unconditional approvals for your Australian clients.

Data Snapshot: The Client Satisfaction Gap

The satisfaction gap—a difference of **8 percentage points** historically—proves that speed is a competitive differentiator. Brokers who master submission quality close this gap, securing faster outcomes and higher client retention.

Interactive Diagnostic: What's the Real Bottleneck?

The bottleneck is often not the lender's system capacity, but the **variable quality and completeness of broker-lodged applications**. Use this diagnostic tool to compare the channels and focus your strategy where it matters most: your submissions.

Why Direct Banks Are Faster

They benefit from a **simplified, internal product set** and often face lower volume per specific channel, allowing them to better manage their assessment queues. The primary challenge is internal policy variations.

Your Takeaway

The lesson here is **simplicity**. Simplify your document gathering and submission process to mimic the clean flow of an internal channel.

The Broker Bottleneck

The root cause is **Variable Submission Completeness**. An incomplete file forces the application out of the automated, 4-hour "fast track" criteria and into a manual queue, often leading to a 3-10 day delay.

The Broker Solution (Actionable Tip)

**Mandate Pre-Submission Checks:** Integrate and enforce the use of digital tools (like NextGen or ApplyOnline validation) to error-proof every file before the 'Submit' button is hit.

The Strategic Broker's Turnaround Playbook

Strategic brokers treat lender turnaround capacity as a **fluctuating variable**, just as important as the interest rate. These are the three pillars of a speed-focused business strategy.

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Master the Fast Track

Your job is to ensure every submission consistently meets the lender's "fast track" criteria. This means leveraging **integrated digital tools** (NextGen, ApplyOnline) for mandatory pre-submission error checking.

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Prioritize Time Over Basis Points

For time-sensitive settlements, time often trumps rate. Utilize real-time data from your aggregator to strategically place the loan with the lender currently demonstrating the **fastest service levels**.

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Build Assessor Trust

Lender staff recognize quality brokers. Consistently sending clean files builds an unspoken reputation that may translate into **faster assessment turnaround** for your tricky files.

The Unconditional Approval Process: Slow vs. Fast

Your submission strategy determines which lane your application enters. Avoid the Rework Loop and aim for the seamless, direct path.

The SLOW LANE: Rework-Prone Process

📝 Initial Lodgement (Missing Docs)

❌ Falls to Manual Queue

🔁 Assessor Issues Rework Request

⏳ 2-10 Day Approval Time

The FAST TRACK: Optimized Process

✅ Pre-Submission Check (100% Complete)

🤖 Automated Validation Pass

🎯 Straight to Assessor Queue

🏆 <24 Hour Unconditional Approval