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I’ve got Pre-approval. What's next?

Once you’ve found a property, login to the application portal and provide the address details so we can check the property is an acceptable security and matches your loan product. We will also confirm that your current personal / financial circumstances haven’t changed since you commenced your application. 

There are risks associated with relying on a Pre-approval when bidding at auction and/or entering into a contract of sale particularly when it is not a cash unconditional contract. We recommend you seek legal advice and financial advice before entering into any legally binding contracts or agreements. If you are unsure, please call us so we can guide you during this process. 

If you’re successful purchasing the property we'll also need the signed Contract of Sale to complete some final checks and obtain a formal valuation to confirm the property value, you will not receive full approval until this step and application assessment is completed.

Things to keep in mind

If your circumstances change during the application process, or our interest rates increase or the property value is less than anticipated or is an unacceptable security to the bank, we may offer a reduced loan amount or may not be in a position to continue with this loan.

Your Pre-approval is valid for 60 days. We’ll send a reminder before your Pre-approval expires in case you’d like to renew it. 

Please note, we’ll only be able to renew it once for an additional 60 days (i.e. 120 days total) and updated financial information may be required for a Pre-approval extension. If your Pre-approval has expired, you’ll need to start a new application, it's a straightforward process as you’ve already experienced.

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