Know your number before you bid.

A proper pre-approval is a lender's formal, credit-assessed position, which an online borrowing estimate is not. It lets you bid without a finance clause hanging over your head.

Estimate, conditional, formal.

Online estimate

A ballpark figure from a lender's calculator. There's no credit check, no income verification and no commitment from the lender. It's useful as a sanity check, but not as a position to bid from.

Conditional / formal pre-approval

Your application has been submitted, credit has been pulled, income and liabilities have been verified, and a credit assessor has reviewed the file. This is the version you can rely on at auction. It's typically valid for 90 days and can be renewed. This is what Hypercube arranges.

What we'll ask for.

Before submitting a formal pre-approval we'll need:

Recent payslips (two or three, employer-dependent)
Most recent PAYG summary or tax return
Bank statements covering the last 90 days (transaction and savings)
Credit card and loan statements (current balances and limits)
Photo ID: driver's licence and/or passport
First-home-specific evidence if applicable (genuine savings, grant eligibility)

Pre-approval FAQs

Does pre-approval affect my credit score?

Yes. A formal pre-approval involves a hard credit enquiry, so we recommend one formal pre-approval at a time, with the lender whose policy fits your situation. Scattered applications across several banks can damage the score you're trying to protect.

How long does pre-approval last?

Most lenders honour a formal pre-approval for 90 days. Renewal generally needs updated payslips and bank statements. We'll manage the renewal for you before it lapses if you're still shopping.

Can I bid at auction with pre-approval only?

Yes, provided the pre-approval is formal (not just an online estimate) and the property you're bidding on fits the lender's policy. We'll confirm both before you sign anything at the auction.

General advice disclaimer. The information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you before acting on it, and seek professional advice where relevant.

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