Pre-approval (also called conditional approval) is an indication from a lender that they're willing to lend you a certain amount, subject to verification of your details and property valuation.
What You'll Need
Proof of identity, recent payslips or tax returns, bank statements, details of existing debts, and information about your assets and savings. Self-employed applicants may need additional documentation.
How Long Does It Last?
Pre-approval typically lasts 3–6 months depending on the lender. If you haven't found a property within that timeframe, you may need to reapply or update your application.
This article is for general information only and does not constitute personal financial advice. Please speak with a qualified finance professional before making decisions based on this content.