Getting conditional approval

What conditional approval means

Conditional approval is an indication of how much we may be able to lend you, based on the information you share with us.

You can think of it as us saying "we'll likely lend you this amount under these conditions".

You’ll then know:

• The price range for your property hunt
• Which number is your absolute highest when having conversations
• Any conditions that need to be met for us to lend to you.

When to apply for conditional approval

Applying for conditional approval makes sense when:

• You’ve got your deposit ready
• You’re starting to attend open homes and want to be ready to progress
• You want clarity about borrowing so you know which properties are realistic for you

Knowing how much we could lend you can give you confidence as a serious buyer. This number is for you — you don't have to share this with real estate agents.

If you’re earlier in the journey, we can still help you explore your options and plan your next steps.

How to get conditionally approved

We need to have a conversation with you to understand:

• Who's buying — e.g. you, you and a partner, you and friends or family
• What you earn, what you own and what you owe

Conditional approval usually lasts 90 days, so during this time, you can make a conditional offer on a property up to the amount you've been conditionally approved for.

It can usually be extended for another 90 days if your situation stays the same.

To get started, talk to a home loan specialist.

Getting your loan fully approved

Once you've found a property and you want to progress your loan, apply to move from conditional approval to unconditional approval.

We'll do a quick check of the property and make sure we're happy to lend on it — this may include asking for a property valuation or additional details.

Being conditionally approved means you've already done the groundwork and this part is usually quicker and smoother.

However, if you end up finding a specific property you want to make an offer on before you've got conditional approval, talk to a specialist and we can do this all at the same time for you.

Learn more about how to apply for a home loan.