What it is, why it matters, and how to get it fast.
Pre-approval helps you shop within budget and gives confidence when making offers. It can also reduce the risk of falling in love with a property that sits outside your borrowing range.
Most lenders will ask for identification, recent payslips, bank statements, evidence of savings, liabilities, and details of your living expenses.
If you are self-employed, expect to provide business financials, tax returns, and accountant-prepared documents.
Avoid changing jobs, taking new debt, missing repayments, or making large unexplained purchases during the pre-approval period.
Pre-approval is usually time-limited, so stay organised and be ready to move once you find the right property.