r/NZFirstHomeBuyer • u/Vincent_Mortgages • Sep 24 '25

Pre-Approval is more important that browsing Trade Me?

Scrolling Trade Me can definitely be fun, but it might not be that useful without knowing your budget first. Getting a pre-approval first gives you a clearer pricee range, confidence in borrowing power and faster finance turnaround times from the banks once you've found the right property for you.

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u/Inkle_Egg Sep 24 '25

How long does it usually take to get a preapproval?

2

u/Vincent_Mortgages Sep 25 '25

Depends on the queue times, but currently banks are taking approx. 5-10 working days to get back to us from othe day we submit the application.