Know your budget before you start looking
Pre-approval gives you a clear borrowing limit, puts you ahead at auction, and lets you move fast when the right property appears. Finance Craft arranges pre-approval across 30+ lenders, typically within 2 business days, at no cost to you.
Pre-Approval: Your Competitive Edge in a Fast Market
In the Eastern Suburbs property market, where most desirable homes sell at auction and competition is fierce, pre-approval isn't optional, it's essential. Walking into a Bondi auction or a Coogee negotiation without pre-approval means you're always one step behind buyers who already know exactly what they can spend.
Pre-approval confirms your borrowing capacity based on your income, expenses, deposit, and credit history. It's a lender's preliminary commitment that you can borrow up to a set amount, giving you the confidence to bid, offer, and negotiate with certainty. Finance Craft arranges pre-approval across 30+ lenders, typically within 2 business days, at no cost to you.
Your pre-approval in four steps
Financial Review
We gather your employment details, income, existing debts, and deposit information in a short initial conversation, typically 15-30 minutes. No paperwork upfront, just a clear picture of your situation.
Lender Selection
We assess your financial profile against 30+ lenders and identify the best fit, factoring in rate, policy, and serviceability. We select lenders likely to approve quickly and at competitive terms.
Pre-Approval Lodged
We submit your application with the required documentation. Most lenders return a decision within 2 business days. You receive a formal pre-approval letter confirming your maximum borrowing limit.
Start Searching
With pre-approval in hand, you search with confidence. We're available throughout your property hunt to answer questions, update your pre-approval if circumstances change, and move to full approval the moment you find your property.
Ready to know your borrowing power? Review your options across 30+ lenders.
Get Pre-ApprovedWhat pre-approval does for you
Bid at Auction with Certainty
The Eastern Suburbs is an auction-heavy market. Pre-approval means you know exactly where to stop bidding. You're not second-guessing in the heat of the moment. Vendors and agents also take pre-approved buyers more seriously.
Move Fast When It Matters
Good properties in Coogee, Bronte, and Clovelly don't last long. Pre-approval means when the right property appears, you can make an offer immediately, rather than waiting days or weeks for a bank to respond.
Stronger Negotiating Position
Vendors prefer pre-approved buyers. It removes financing risk and makes your offer more attractive than a competing offer without approval. In private sales and off-market situations, this advantage is significant.
Understand Your Real Budget
Pre-approval reveals your actual borrowing capacity, not an estimate. It factors in your serviceability, commitments, and deposit, so you can house-hunt in the right price range from day one.
About to start house hunting? Let's get your pre-approval sorted before you go to your first open home.
Book a Free CallDocuments required for pre-approval
We'll guide you through exactly what's needed upfront so there are no back-and-forth delays. For most employed applicants the process is straightforward. For self-employed or complex situations, we know which lenders are most flexible.
Financial Position
We'll conduct a Fact Find to go through your Asset and Liability position, and monthly living expenditure.
Proof of Income
2 recent payslips and ATO Income Statement. If self-employed, at least 1 year full tax return for personal and business. Otherwise, specialist options can accept accountant letters, business bank statements, or BAS.
Liabilities
Latest statement for any liability: credit cards, car loans, personal loans, leases, HECS, or rental ledger.
Identification
Driver's licence and passport. You'll also provide written permission to conduct a credit check. We'll explain exactly what this involves and the impact on your credit file.
Pre-approval FAQs
Pre-approval is a conditional commitment based on your financial position. It confirms you're creditworthy and sets your borrowing limit. Full approval comes after you've found a specific property and requires a valuation and formal lender assessment. Pre-approval significantly reduces your financing risks.
Pre-approval is typically valid for 90 days. If your pre-approval expires before you find a property, we'll refresh it quickly with updated information. Some clients on longer searches prefer to update every 6-8 weeks to ensure their approval reflects their current financial position. If your circumstances improve (promotion, pay rise, reduced debt), updated pre-approval often increases your borrowing capacity.
Yes. A pre-approval triggers a hard credit enquiry, which typically reduces your score by around 5–10 points temporarily. The impact fades over the following months, but the enquiry itself remains on your file for five years. Applying to multiple lenders in a short period can compound this effect and may raise flags with lenders reviewing your credit history, so it's worth being targeted rather than applying broadly. We'll help you identify the right lender upfront so you're not creating unnecessary enquiries.
Not at all. Pre-approval doesn't commit you to any lender. It simply confirms how much you can borrow. Once you've found a property and are ready to move to full approval, we'll review the market and identify the best rate and terms available at that point. Pre-approval is informational; the binding commitment happens only at full approval and loan acceptance.
Pre-approval reflects your financial position at the time of approval. If something significant changes (new debt, job change, reduced income), let us know and we'll reassess. Minor changes typically don't affect approval. If your position improves, we can update your pre-approval to reflect a higher borrowing capacity. We stay in contact throughout your property search so nothing slips through.
Yes. Self-employed borrowers need to provide tax returns and financial statements rather than payslips, but the process is equally achievable. We work with lenders who are experienced with self-employed applicants and know which ones offer the most competitive terms and flexible assessment criteria. We'll advise on exactly what documentation to prepare to make the process as smooth as possible.
Get pre-approved before your next inspection
1-2 business days. 30+ lenders. $0 broker fee. Know your borrowing power before you compete.