How long does pre-approval last?

Most lenders hold a conditional pre-approval for about 90 days, though this varies by lender. If you haven't found a property by then, your broker can usually get it renewed.

Does pre-approval guarantee my loan will be approved?

No. It's conditional on the property itself passing the lender's valuation and on your financial situation not changing. Final approval still needs to happen once you have a specific property under contract.

Do I need pre-approval before making an offer on a house?

It's not legally required but most agents and vendors on the Gold Coast take offers more seriously from buyers who already have pre-approval in hand.

Home loan pre-approval before you start house hunting

the team-approval tells you what a lender is likely to lend before you've found a property, which matters on the Gold Coast market where good listings move fast and agents want proof of finance before taking an offer seriously. A broker collects your payslips, bank statements and liabilities once, then submits to a lender for a conditional approval that's usually valid for around 90 days.

This differs from just talking to a bank about borrowing power. The team-approval is a formal credit assessment, so it carries more weight with agents and vendors than a rough borrowing capacity estimate.

Sorts out serviceability using real payslips and bank statements rather than a rough calculator estimate
Flags any credit file issues or debt-to-income problems before you're under contract
the team be reissued or extended if your house hunt runs longer than the initial approval window

What it costs

Pre-approval itself is generally free through a broker because they're paid by the lender on settlement, not for the approval step. The main cost consideration is timing: getting pre-approved too early means it may expire before you find a property, so brokers usually recommend starting the process once you're seriously looking, not months in advance.

Top 3 by our score

Ranked from our published scoring of public Google reviews for mortgage lender.

1. Premium Portfolio Finance - Mortgage Broker Fremantle
5.0★ · 140 reviews

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2. Aussie Home Loans Joondalup
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3. Central Lending Solutions
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FAQ

How long does pre-approval last?: Most lenders hold a conditional pre-approval for about 90 days, though this varies by lender. If you haven't found a property by then, your broker can usually get it renewed.
Does pre-approval guarantee my loan will be approved?: No. It's conditional on the property itself passing the lender's valuation and on your financial situation not changing. Final approval still needs to happen once you have a specific property under contract.
Do I need pre-approval before making an offer on a house?: It's not legally required but most agents and vendors on the Gold Coast take offers more seriously from buyers who already have pre-approval in hand.

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