Home Loans
Pre-Approval
Get Ready to Make Your Move
A pre-approval is your green light to shop for a property with confidence. It’s a lender’s way of saying, “We’re comfortable lending you up to this amount.” While not a guarantee, it positions you as a serious buyer and helps refine your search. At Podium Money, we’ll guide you through the pre-approval process to get you one step closer to your property goals.
6 Things to Know About Pre-Approvals
What is pre-approval?
It's a conditional indication of a lender's willingness to lend to you.
How long does it last?
Generally 2-3 months, but we can help you extend or reapply.
Are there limitations?
Some lenders restrict property types or require a valuation.
What if rates rise?
Small increases won't impact approvals, but significant changes could. We're here to advise you.
I found a property. What's next?
Make an offer, but check with us first and get a free property report.
My bid was accepted. Now what?
Congrats! Pay your deposit and we'll work with your lender to finalise your loan.
Over 60 Lenders, All Under One Roof
Our Pre-Approval Process
Connect
Answer a few questions here.
We'll discuss your goals and finances.
Assess
We'll determine your borrowing power and compare 60+ lenders to find your best options.
Apply
We handle the paperwork
and liaise with lenders to
secure your pre-approval.
Property Search
Armed with your pre-approval, you can bid and negotiate with confidence.
Formal Approval
Once your offer is accepted,
we'll work with your lender to get your loan finalised.
Your Pre-Approval Experts
Frequently Asked Questions
Can I apply for interest only on a commercial loan?
Yes, interest only (IO) repayment structures are widely available for both commercial investment loans and owner-occupied commercial loans. In fact, IO terms are more common in commercial lending than residential.
Commercial lenders typically offer:
- Initial IO periods of 1-5 years
- Potential for extended IO periods with strong applications
- Renewal options at the end of the IO term (subject to reassessment)
Benefits of IO structures for commercial borrowers include:
- Improved initial cash flow
- Maximised tax deductions for investment properties
- Alignment with development or refurbishment strategies
- Flexibility during business establishment or expansion phases
Lenders assess IO applications based on:
- The property's income-generating capacity
- Loan-to-Value Ratio (typically stricter for IO loans)
- Your exit strategy at the end of the IO period
- Overall business or investment strategy
- The strength of the lease covenant(s)
We can help you determine whether an IO structure aligns with your commercial property strategy and identify lenders offering optimal IO terms for your situation.
Take Your Pre-Approval to the Next Level. Contact Us Today for a Free Consultation.
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