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How long does the whole thing take?
The application takes about two minutes. Most lender decisions come back within one working day, and once you accept an offer, settlement (the new lender paying out your old loan) typically happens within a few working days.
By Leverage Finance · Updated 17 July 2026
So the realistic end-to-end picture is: minutes to apply, a day or so to hear back, and under a week from application to your old loan being closed, assuming you respond promptly to any document requests.
Timeframes depend on the lender and on how quickly documents come together, but nothing in the process requires weeks. There's no cost to applying, so there's no reason to wait for a 'good time'.
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