Getting conditional approval to look for a property

Before you start your property search, it’s a great idea to get conditional approval for a home loan, also known as pre-approved finance.

It gives you a clearer idea of what you can afford. And when the right home comes along, it puts you in a prime position to snap it up.

What’s conditional approval?

It’s a letter from your lender that states how much they’re likely to let you borrow based on your financial situation, objectives and needs.

Reasons to get conditional approval

Know how much you could spend
Being confident about how much you could borrow means you can narrow down your property search to homes in your price range.

Act quickly when you find a property
It shows the seller that you’re making a serious offer, and gives them peace of mind that you can afford the property.

It’s especially a good idea to get conditional approval before bidding at auctions in Melbourne and Sydney.

How to apply for conditional approval

It’s a pretty straightforward process. A Home Lending Specialist or Broker can arrange it for you. You’ll need ID, income evidence, and a run down of your expenses, assets (what you own) and liabilities (your personal debt).

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Need help with your application?

Get in touch with a Home Lending Specialist, and they’ll respond within one business day. You can talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.