Updating the Loan Purpose

If the loan purpose needs to be updated, the settlements team will reject the application at settlement. 

To Make the Changes: 

1. On the contract settlement tab of the application click “Edit Settlement Details” at the bottom of the page. 

1. Then click “Edit Credit Details” at the bottom of the page. 

1. The system will automatically redirect you back to the application page. 

1. Update the loan purpose. 

1. Click “Submit for Immediate Approval.” 

Important: 

• If the only change made to the application was the loan purpose, the application will re-approve within 10 minutes. 

• If the application does not auto-approve, credit will take up to 2 hours to re-approve the application. For urgent cases, you can call the credit team at 1300 367 716 to expedite the re-approval. 

Next Steps: 

• Regenerate the contracts for resigning. 

• Complete the settlement process.