GET A PRE-APPROVAL

So you have a deposit and enough spare change to cover the fees and charges – time to get a pre-approval. It's essentially a loan application pending a security (which will be the house itself) and gives you comfort over what you can offer when you’re out house shopping.

Your bank or broker will do a full financial assessment in order to issue you with a pre-approval so that the process is easier when you have found your house. This includes looking at your income, expenses, assets and liabilities to make sure you can afford the house you are after. Be open and honest when going through your application because banks will know if you have not fully disclosed your financial situation. It will make things faster for you.