Home loan Pre-approval

Once you begin to think about buying a property, a home loan pre-approval is something that is definitely worth considering regardless of how much you are intending to borrow. A pre-approval is similar to full finance approval except that the property you intend to purchase has not yet been determined. It gives you clear guidelines on how much money you have to work with. Some conditions usually need to be met before full finance approval will be granted.

Pre-approve now for successful price negotiation or to bid at auction

Your Loan Market mortgage broker will organise a pre-approval for you so you can negotiate with confidence a good price on the property you intend to purchase or bid at auction, knowing your buying power. Fill out the form below or call us at any time on 0508 722 205 (+64 9 526 0122).

Advantages of Home Loan Pre-Approval:

  • Home loan pre-approval is free
  • Valid for up to 3 months
  • Enables you to go shopping for your home with confidence
  • Final unconditional finance approval is faster

Find Out About Your Home Loan Options

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Types of home loan pre-approval

There are a number of different types of home loan pre-approval, from a simple phone-based pre-approval through to written pre-approvals. As you can see, many of these are indications only of what the bank is willing to lend you. To be sure of your borrowing capacity you will need to secure a written pre-approval. You may need to pay some application fees, but the security is worth it, and you are then free to negotiate with confidence or bid at auction.

Secure a valuation

Despite its name, a formal unconditional pre-approval still has some conditions that need to be met before it progresses to a full approval. A valuation is the most common requirement, so it makes sense to secure a formal valuation through the lender you intend to borrow through prior to purchasing at auction or signing a contract.

For more information on home loan pre-approval

For more information on how a home loan pre-approval can help, or to apply for a pre-approval, talk to your local mortgage broker by calling us at any time on 0508 722 205 (+64 9 526 0122) or complete the above form and someone will contact you.