At Savvy Finance we can equip clients with pre-approval services to empower their property and vehicle searches with clear budget parameters.

Obtaining a pre-approval is one of the most important steps you will take when applying for finance. Assistance from an experienced broker is crucial to helping you obtain a pre-approval for a home loan, business finance or personal loan.

A loan pre-approval means that a lender has agreed, in principle, to lend you an amount of money towards your purchase but hasn’t proceeded to a full or final approval. It allows you to know your maximum available funds so you can narrow your search, negotiate with more certainty, and bid with more confidence if you’re going to a property auction.

A pre-approval is not a requirement in the home buying process, but it can make it much easier and reduce the stress involved.

Pre-approval can also make you a more attractive buyer to a potential property seller, as it indicates that you’re serious about purchasing the property and that your offer is less likely to be withdrawn due to a lack of financing.

Factors which can negate a pre-approval include changes to your personal circumstances, changes to government regulations, a negative valuation of the property or a change in the property’s condition.