If you’re planning to buy in 2025, pre-approval should be at the top of your list. In a competitive and fast-changing property market, it gives you clarity, confidence, and a serious advantage.
What Is Pre-Approval?
Pre-approval also known as conditional approval, is when a lender confirms how much they’re likely to lend you based on your income, expenses, and credit history but haven’t yet selected a property you’d like to buy. It’s conditional (usually based on a long list of conditions from your bank) so it’s not the final green light, but it gets you a long way there with an indication of what to expect next.
Why It Matters More in 2025
Lenders have tightened their criteria in recent years, and policies can change quickly. Interest rates are also forecast to drop in 2025 which means you could afford to borrow more. Pre-approval helps you move decisively when you find the right property. It also gives you more peace of mind when negotiating with agents or bidding at auction. Sellers and agents will take you more seriously, and you’ll avoid wasting time looking at homes outside your budget. It also helps you avoid financial stress down the line by setting clear expectations for repayments and borrowing limits as well as your post-settlement spending budget.
What Lenders Are Looking For
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- Demonstrable income and employment history
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- Strong credit score and repayment history
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- Realistic spending habits
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- Genuine savings
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- Loan-to-value ratio (LVR),property types in their preferred locations.
With living expense reviews and digital spending assessments now part of most applications, it pays to be organised upfront. Lenders are more thorough than ever, and small errors or missing details can slow things down or even change how much you’re approved for. We’ll help you prepare everything you need, review your documents before they’re submitted, and make sure your application positions you in the best possible light.
Common Mistakes to Avoid
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- Assuming pre-approval is the same as unconditional approval
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- Applying with the wrong lender for your profile
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- Not allowing enough time for preapproval before attending an auction
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- Making large purchases, applying for Buy Now Pay Later services such as Zip or Afterpay or credit cards during or after the pre-approval period
- Making large purchases, applying for Buy Now Pay Later services such as Zip or Afterpay or credit cards during or after the pre-approval period
How Goodlend Makes It Easy
At Goodlend we simplify pre-approval by partnering with you every step of the way, from recommending lenders that fit your situation to preparing your documents and guiding you through the process. With digital ID checks, instant document signing, and real-time updates, we take the hassle out of the process and help you secure the right loan without unnecessary delays. We’ll highlight what’s realistic, flag anything that might cause delays, and keep the application on track so you can get preapproved sooner and buy with confidence.
We don’t do cookie-cutter advice. Whether you’re employed full-time, self-employed, or navigating a more complex income structure, we help position you for success with the right lender.
And once you’re pre-approved, we stick with you. When the right property comes up, you’ll be ready to make a move with confidence, knowing the finance is sorted. We stay in the loop to make sure nothing slips through the cracks during the process, from contract conditions to updated documentation for settlement.
And here’s something you won’t find with other brokers: when you choose Goodlend, you’re not just securing a home loan—you’re giving back to a cause that matters to you. When your loan settles and you get the keys, we donate a portion of our commission to the charity of your choice. It’s our way of helping you make a difference, right from day one.
Let’s get your pre-approval sorted. Start a conversation with us today.
