Key takeaways
- A straightforward refinance typically takes about two to four weeks.
- The discharge from your old lender is often the slowest single step.
- Incomplete documents and valuation delays are the most common hold-ups.
- Preparing paperwork up front and lodging the discharge early keeps it fast.
“How long will this take?” is the first question most people ask about refinancing, and the honest answer is: usually a few weeks, but it depends almost entirely on preparation. The lender’s processing time is fairly fixed; the parts you control — documents and the discharge — are where refinances speed up or drag.
The typical timeline
- Days 1–2 — Application. Compare the market, choose the lender, and submit with your documents ready.
- Days 3–7 — Assessment & valuation. The lender assesses serviceability and orders a valuation of your property.
- Days 7–14 — Approval & documents. Formal approval issues; you sign the new loan documents.
- Days 14–28 — Discharge & settlement. Your old lender releases the mortgage and the new loan settles.
The discharge — your outgoing lender releasing its mortgage — is the step people underestimate. It can take a week or more on its own, and you don’t control the queue. Lodging the discharge authority as early as possible, rather than at the end, is the single best way to avoid a stall.
What stretches it out
Missing documents, a slow or low valuation, complex income (see our self-employed and low doc guides), and discharge delays. Most are avoidable with preparation. And before you start, it’s worth confirming the switch is actually worthwhile — our when not to refinance and break costs guides cover that.
Keeping yours fast
Have everything ready before you apply, reply to questions the same day, pick a lender whose turnaround suits you, and get the discharge moving early. Running these in parallel — rather than one after another — is where a broker routinely shaves days or weeks off the process.
Broker Insight. The step clients underestimate most is the discharge from their old lender. Lodging it early, and running everything in parallel, is how we keep refinances on the fast end.
Refinance without the drag
We line up the documents, valuation and discharge in parallel and chase every step — so your refinance settles as fast as it can. Free, no obligation.
Book your free game plan callFrequently asked questions
How long does it take to refinance a home loan?
For a straightforward refinance with documents ready, expect roughly two to four weeks from application to settlement, though it can be faster or slower. The main variables are how quickly you supply documents, how busy the new lender is, valuation timing, and how promptly your old lender processes the discharge — which is often the slowest single step.
What slows refinancing down?
The usual culprits are incomplete documents, valuation delays, complex income (such as self-employed applicants), and the discharge process with your outgoing lender — which you don’t fully control and which frequently takes longer than people expect. Getting your paperwork ready up front and lodging the discharge request early are the two biggest levers on speed.
Can I speed up my refinance?
Yes. Have all documents ready before you apply, respond to lender questions quickly, choose a lender whose turnaround and policy suit you, and submit the discharge authority to your current lender as early as possible. A broker manages these moving parts in parallel rather than in sequence, which is often where the biggest time savings come from.
This guide is general information only and does not take your personal circumstances into account. It is not financial or credit advice. Government schemes, lender policies, rates and tax rules change over time and eligibility criteria apply. Speak with us for advice tailored to your situation.