Home Loan Pre-Approval

Pre-approval (sometimes called conditional approval or approval in principle) is a lender's written indication that, based on the information you've provided, it is prepared to lend you up to a certain amount. It isn't a guarantee: formal approval still depends on a satisfactory valuation of the specific property, your circumstances remaining unchanged and the lender's final checks. But it does give you a realistic ceiling to shop within, it shows agents and sellers you are a serious buyer, and it removes much of the anxiety from making an offer or bidding at auction.

Not all pre-approvals are equal. Some are generated automatically online without anyone reading your payslips, and those can evaporate when a credit assessor finally looks at the file. A fully assessed pre-approval — where the lender has verified your income, expenses, debts and deposit — is far more reliable. We prepare your application to that standard, presenting your income the way lenders want to see it, explaining anything unusual up front, and choosing a lender whose policy actually suits your situation rather than the one with the flashiest advertised rate.

Pre-approval is typically valid for around 90 days, and most lenders will extend or refresh it with updated documents if your search takes longer. Because each application is recorded on your credit file, we recommend applying with one carefully chosen lender rather than several at once. Timing matters too: pre-approval doesn't lock in an interest rate, and changing jobs, taking on new debt or making large unexplained transactions during the search period can all affect your final approval. We'll tell you what to avoid so your pre-approval holds up when it counts.