It’s a letter from your lender that states how much they’re likely to let you borrow based on your financial situation. If you receive a conditional approval letter from us, it means we've performed a credit check and assessed and validated your information – so you can put an offer down or bid at auction with confidence.
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).