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What is indicative home loan pre-approval?
Indicative home loan pre-approval is an estimate of how much you might be able to borrow to buy property.
It can be provided by a lender before you submit a formal home loan application, giving you an idea of your borrowing power based on your current circumstances.
While indicative home loan pre-approval doesn’t guarantee full approval of a home loan application, it could outline what you might be able to afford so you can narrow down your property search.
How does home loan pre-approval work?
Getting home loan pre-approval typically starts with providing details about your income, expenses, assets and liabilities. Based on this information, the lender assesses your financial position and provides an indicative borrowing amount.
You can start by trying our online indicative home loan pre-approval tool. Fill out your details above for an instant borrowing power estimate and personalised interest rate.
If you’d like to move forward with your pre-approval, reach out to a Liberty Adviser who can guide you through the next steps. You’ll need to complete a formal application which requires final unconditional lender approval before you can proceed with purchasing the property.
Benefits of home loan pre-approval
Knowing your borrowing power can help set a realistic budget.
It could strengthen your buyer position, giving you more leverage to negotiate.
When the time comes, you can move faster with a serious offer.
Enjoy peace of mind and move ahead with confidence.
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Your local Liberty Adviser will be able to look at your lending options and help you decide the best way forward.
Home loan pre-approval FAQs
Seeking an indicative home loan pre-approval before you start browsing for properties is a smart first step. When you are ready to move ahead, you can begin the home loan application process to seek conditional approval with a realistic idea of what you might be able to borrow.
No, our indicative home loan pre-approval tool does not guarantee you will be approved for a home loan or pre-approval. This process can help give you an idea of what you might be able to afford. However, the amount is only an estimate and may differ from a home loan pre-approval application. Once you've found a property, you will still need to complete a full home loan application which requires final unconditional lender approval before you can move ahead with the purchase.
There are a few factors considered when determining your home loan pre-approval amount. These may include your income, expenses, debts, and deposit size. Our indicative pre-approval tool uses these factors as well as others such as the property details and your credit background to give you an idea of how much you may be able to borrow.
Indicative pre-approval is based on your individual circumstances at the time of application, but the amount is not guaranteed when you apply for a home loan or pre-approval. Think of our indicative pre-approval tool as a helpful guide to assist you in your property search and to get a better understanding of how much you might be able to afford.
Yes - you can get an indicative home loan pre-approval online using Liberty’s online tool at the top of this page. However, this does not guarantee home loan pre-approval. Our fast and simple tool will provide you with a personalised interest rate in just a few minutes. It’s important to note that the indicative pre-approved loan amount and personalised rate calculated may vary to your home loan pre-approval.