When buying property in the currently soaring South African property market, a pre-approval certificate can be just the thing you need to close the deal. It removes the uncertainty, knowing up front how much you qualify for.

When you are searching for your ideal property, having this certificate will also allow you to negotiate a better price. It shows the seller that you are serious, smart and prepared.

The seller will know that you will not have any trouble getting your home loan because you are already pre-approved for a certain amount. The whole process of getting pre-approved takes about three to four working days.

One common misconception is that getting your pre-approval certificate is as easy as answering a couple of questions. In reality, you have to go through the same process as when applying for a home loan. This is the only way to know for certain how much you will qualify for.

There is also a difference between pre-qualification and pre-approval certificates. Pre-qualification usually means that according to the information you supplied, you would qualify for a home loan. Pre-approval on the other hand means that a bank has already approved your application in principle.

You should not have any trouble getting you loan registered. This certificate does not guarantee your home loan in all cases however. There might be other unforeseen reasons such as when the property is valued for a much lower price than you were applying for. Just make sure you know what the value of the property is and also what similar neighbouring properties are selling for.

To apply for a pre-approval certificate, complete our online home loan application, and when a consultants phones you, tell him/her that you want a pre-approval certificate. They will assist you with any questions you might have regarding the whole process.