What is Conditional Approval?

Conditional Approval, sometimes called pre-approval, is an indication from a
lender that they are prepared to lend you a certain amount, subject to specific
conditions being met.

It can give you greater confidence when looking for a property, as you have an
idea of your potential borrowing capacity. However, it is important to remember
that conditional approval is not a final loan approval or a guarantee that
your loan will be approved. The lender will still need to assess the property,
verify your circumstances and satisfy any outstanding conditions before
providing formal approval.