Your home loan application will move through a number of different stages before you get the green light to buy.

At an early stage, you may receive ‘conditional approval’, which means the lender has approved your loan if you meet certain additional requirements.  The additional requirements may include paying off an existing debt or selling another home.

Once the lender has what they need, the next step is called ‘unconditional approval’, which is the lender’s final decision to approve you for the loan. It means they have taken all of your details into account and are happy to lend you a set amount of money to buy a specific property.