Mortgage Loan Pre approval

Why get your home loan pre-approved?

Buying a home is much easier when you have your home loan conditionally pre-approved. With a home loan pre-approval in Christchurch you will know the maximum purchase price you can go to, making finding a home easier. It means you can save time and avoid disappointment by looking at homes that are in your price range.

Having your home loan conditionally pre-approved also:

• Shows real estate agents and vendors that you're serious about buying.
• It puts you in a better negotiating position as you already have your mortgage finance conditionally approved.
• This helps speed up the mortgage documentation process once you’ve found a home you wish to purchase.
• It enables you to bid at house auctions – auction bids are unconditional, so you need to have your finance arranged before you bid. Make sure you've done the relevant checks and informed us about the property you are bidding on.

A home loan pre-approval is free and there’s no obligation.

Advantages of home loan pre-approval:

• Home loan pre-approval is free
• Valid for up to 3 - 6 months
• Enables you to go shopping for your home with confidence
• Final unconditional finance approval is faster

Preparing for your loan application

Whether you’re just starting to get a deposit together or you’re negotiating the purchase of your new home, being well prepared can make a big difference. Think about your finances:

• Write down how much money you have coming in and going out - your income versus fixed and changeable expenses. Look for any expenses you could do without.
• Pay off as many debts as you can, including student loans. Existing debt reduces the amount you can borrow.
• Review your savings. Work out how much you already have for a deposit and put a plan together to increase it through regular contributions to your savings and cutting down on expenses.

Help from family members from gifts to using existing equity in a property a family member already owns can help considerably when looking to purchase your own home.

Remember, a bigger deposit means less debt and less interest overall. So you'll be debt-free faster.

How to choose the right home loan

Having the right type of structure with your mortgage can save you thousands of dollars and cut years off the time it takes to pay your mortgage off. We offer help with structuring your loans and offer the following options:

• Constant, reducing or no set payments.
• Variable or fixed interest rates.
• Interest only loans.
• Combinations of the above and more.
• It’s all about providing you with solutions that meet your needs.

What to bring when applying

• Having the right type of structure with your mortgage can save you thousands of dollars and cut years off the time it takes to pay your mortgage off. We offer help with structuring your loans and offer the following options:

  • Constant, reducing or no set payments.
  • Variable or fixed interest rates.
  • Interest only loans.
  • Combinations of the above and more.
  • It’s all about providing you with solutions that meet your needs.

Home loan pre-approval certificate

Before you start house hunting it's a good idea to ask us for a home loan pre-approval in Christchurch certificate, so you can find out how much you can borrow.

It provides conditional approval that you can lend a certain amount, provided the property you purchase meets standard home loan criteria.

It will give you virtually the same bargaining power as a cash buyer and a definite advantage when negotiating your purchase.

Home loan pre-approval certificates are valid between 60 and 180 days (depending on which lender we go with) from the date of issue.