Just submitted my application - What sort of timelines are you currently seeing for Pre-Approvals?

Just got my application in. I was wondering, what sort of timelines have people who are further in the process than me seen, to from application to Pre-Approval?

Cheers

1 Like

Here is a recent post in another thread. Seems like 8-10 weeks has been most common for the pre-approval to come through.

Kevin33Kevin

Aug 27

I just spoke with my lawyer today and she received a preliminary approval for another client yesterday and that one took 8 weeks from submission. She said in June/July they were running about 10 weeks which was in improvement from as high as ~18 weeks last year. The “normal” processing time is ~6 weeks so it seems like things are getting better (…at least until the flood of applications rolls in at the end of the year).

I just got my application in as well. What’s the consensus, its the pre-approval prior to EOY or the submission of the initial application before EOY that allows us to meet the lower ( 350k ) investment threshold before rule changes come in ? I posed the same question to my lawyers but I haven’t heard back from them yet.

I have been told 10 weeks - 3 months by my law firm

Submission date based on what my lawyer told me, plus almost all the sources I have looked at, so you should be good.

My husband and I applied in late December 2021 and we still haven’t been pre-approved, as of May 19th, 2022.

My wife and I submitted our application about the same time you and your husband filed yours. Based on other commenters on this and other boards, people who applied in early November 2021 have just received preapprovals.
I expect it will take more than another six weeks for us to receive ours because there was undoubtedly a spike in applications before the change in regulations on 1/1/22. I set a tickler in my calendar to ping my lawyer in early July.
Good luck!