Giving you more negotiating power, vendors love to are you have pre-approved as it shows you are a serious buyer.
Pre-approval also gives you peace of mind that you are considering properties within your budget.
Our team will help you get together everything you need in order to apply for a home loan with confidence.
If you have been looking at buying property you need a pre-approval to make sure you don’t miss out.
A pre-approval gets much of the paperwork out of the way, removes the uncertainty of whether you can afford the property or not, and lets you get on with the important part of finding the right property to buy.
A pre-approval is essentially the lender confirming that you meet the criteria for a home loan with them, subject to contact of sale, acceptable valuation and possibly Lenders Mortgage Insurance approval.
It is recommended that you get pre-approved for the absolute most you would ever consider to borrow. You can always borrow less but if you end up requiring more than the pre-approval, the whole assessment process needs to start again.
A pre-approval is not unconditional approval. To be unconditional the lender generally needs to order a valuation on the property to confirm that it is acceptable security to them. What documents do I need for pre-approval? We will need all the documents that would normally be required for a home loan application.
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