What is pre-approval?

Pre-approval is the maximum amount a bank will lend you for a home loan, giving you confidence to search for properties within your budget. It's not a guarantee, as your financial situation must remain stable until purchase.

Don't stress about recent spending; banks know your habits will change once you have a mortgage. They are more concerned with poor financial management, like multiple credit cards or insufficient funds fees. A mortgage adviser can help present your case effectively.