Pre Approved Finance


Competition for property can be fierce. Get ahead of the pack with a pre-approved loan.

What’s a pre approval?

Pre approval is a general indication of how much you’re able to borrow based on the information you have provided to your lender.

Pre approval are subject to terms and general credit terms and conditions, a pre approval basically gives you the green light on your home loan even if you haven’t decided on a property. The amount of the pre approval is usually determined by your ability to meet the loan repayments. Most pre approvals are valid up to three months and so long as your situation has not changed in that time.

There are many types of pre approvals but if you are going into negotiations with the vendor the best pre approval is the unconditional pre approval. It will generally cost a little more in processing and assessment fees, but an unconditional pre approval will place you in a stronger negotiating position with most sellers in the market.

Be careful with the term unconditional it means that all of the lender requirements to assess the application have been satisfied ( including valuations, if applicable). However there may still be some lender conditions that apply.

How do you get Pre Approval?

To kick start we will get some basic documents from you. These would include proof of income, such as a letter from your employer or copies of your payslips, proof of your identity (drivers license), details of your assets you own and your current liabilities. Once your financial status has been given the tick of approval by the lender, you’ll receive a pre approval notification that will assist you in your negotiations.

Why obtain a Pre approval?

Peace Of Mind

A pre approval gives you the confidence of knowing how much you can borrow when buying a property.

Jump The Queue

Having your home loan pre approved enables you to size the opportunity and act quickly when you find the property you want.

Stronger Bargaining Power

A Pre approval can sometimes help you negotiate a better price with the seller, especially if there are fewer stringent conditions upon the sale.

Ability to Bid at Auctions

Under the conditions of a cash contract, a pre approval allows you to bid at auction for the property of your choice.

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