Michelle Isemonger

speaker

262 appearances 1 recordings 1 series first heard Jul 2026 last heard 19 Jul

Michelle Isemonger’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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The Prosperity Project · What banks really check before approving your mortgage · 19 Jul 2026 podcast

So there is a bit of a list, but it's a matter of not absolutely bombarding them with information up front and them taking it step by step that they then feel like they're being guided through it rather than it's kind of like, okay, now we need all of this to get you there.

I mean, you do get the odd person that sometimes, you know, you hear stories making unconditional offers once they get pre-approval.

But as you've mentioned, it's the first step in the process.

So it's the bank going, yep, we're happy to lend you X amount based on the application that's been submitted to us.

You might have some conditions.

So pre-approval usually would have conditions.

So for a first-time buyer, that would be a valuation.

Some banks do condition for insurance.

I don't know, deposit confirmation, et cetera.

So you need to tick those off before your approval becomes technically unconditional.

But even then, it's still not unconditional because the bank needs to sign off on the property that you're looking at purchasing.

Because at the end of the day, if it's a leaky building or something, they're probably not going to want to lend on it.

Absolutely.

Yeah, so we're almost mentioning house insurance when we're going through the application prior to submitting it to the bank.

some banks condition for it.

So that's obviously easy.

When they get their pre-approval, they're looking at it and they can see that that's a condition that they need to meet.

But at the end of the day, when you've got the Auckland floods that happened as well, you've got flooding areas where insurance providers are going, absolutely not, we're not insuring that property, or there's exclusions as well.

So we're now bringing that conversation right up essentially to pre-approval as soon as they get their pre-approval.

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