Timing does vary depending on circumstances. If you are refinancing it will happen as quickly as the other lender can release the security documents. Alternatively, your credit adviser may be able to offer you a lender that uses title insurance to facilitate a fast refinance. If speed is of the essence, ask your credit adviser to discuss a title insured (fast refi) with you.
If you are buying a new home, then once all checks on the security property are completed the lender can arrange to release the money. On average it takes about 4 – 6 weeks; however for properties in Queensland it can be much faster due to different legal requirements.