If you have recently started your property search, a pre-approval is essential to have in place prior to making any serious offers on a property.
It gives you a clear picture of what your spending limits are and gives you peace of mind that if you find a property that you are really interested in, you can move quickly to make an offer. It may even put you in a stronger negotiating position than other potential buyers who don’t have a pre-approval or are still waiting for confirmation from a bank.