The refund of these deposits will be made at the end of the month following the settlement of the loan, although will be only made under the following conditions;
- Engagement Deposit – will be refunded upon settlement of the loan as long as an application is submitted to a lender within 3 months of engaging Peasy and as long as the transaction (refinance, increase, purchase, etc.) proceeds to settlement within the application expiry date.
- Pre-approval Deposit – will be refunded upon settlement of the loan if the loan settles within the pre-approval expiry date (most lenders have 3 month expiry dates although there are a few who have approval expiry dates of 3 months or more). This will also be returned immediately if the pre-approval application is declined or not approved for the amount applied.