Conditional Approval
Once we have received notification from the bank/lender that your loan application has been approved (turnaround time periods for the approval differs from lender to lender) we will send you a conditional approval letter. This approval is usually conditional upon, but not limited to, the following:
- A credit check
- Valuation of the security property
- If you had applied for a pre approval/approval in principle, this is usually valid for a period of between 3 and 6 months. Should you locate a property within this time, we look forward to hearing from you again at that stage.
- If you have already purchased/exchanged on a property, we would need to get a copy of the signed front page of the contract of sale in order that the bank/lender can arrange for a valuation.