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Conditionally Pre-Approved Home Seeker Loan

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A Home Seeker Loan provides customers with confirmation that they are conditionally eligible for a loan of a certain amount prior to a specific property being found. The Home Seeker letter sets up the pre-approval conditions and includes a snapshot of the loan details. Once a property is located, additional loan types or multiple facilities may be chosen and the Pre-Offer letter will reflect these changes.



  • The Home Seeker Loan allows customers to look for a suitable property with more confidence.
  • The loan is 'conditionally pre-approved' and is valid for up to 6 months* from the 'conditionally pre-approval' date. 'Conditionally pre-approved' refers to a loan amount being conditionally approved prior to the borrower having an actual property in mind.
  • You will need to supply full financial verification documents at the initial submission of the Home Seeker application however, you will need to re-supply verification documents at conversion if the customer has not located a property within 90 days.



  • The Bank's usual terms and conditions will apply to the loan including the property meeting the Bank's usual security requirements.
  • Where loan approval is subject to Lenders' Mortgage Insurance (LMI) normal procedure is to be followed.
  • Interest rates are not guaranteed under the 'conditional pre-approval', i.e. Rate Lock is not available until formal approval.
  • Approval will lapse unless a formal application is completed within 6 months.


Note: The Bank may need to review the loan approval if:

  • The financial information provided by the customer has changed.
  • The actual purchase price of the property or the building costs on the property differ from the estimated purchase price or building costs provided by the customer.
  • Interest rates have increased since the 'conditional pre-approval' date.


Where property has not been located or applicant is making a general enquiry

Once the applicant's credit worthiness and eligibility have been established, the Bank will establish a Home Seeker loan. The Bank will prepare a Home Seeker loan letter which is to be given to the applicant.



  • Once the property is located, confirmation is required from the client that the details in the application have not changed. If details have changed the application needs to be reassessed by the Bank.
  • Where the formal loan offer expires after 90 days of the conditional pre-approval date, you will need to obtain from the customer updated financials and confirm that the loan still meets their requirements and supply evidence of this to the Bank. This will include all new proof of income and liabilities (with the exception of annually/one off produced documentation where there has been no change-e.g. self-employed income, court orders-including child maintenance, ATO invoice, HECs, etc).