Pre-Approval vs Final Approval: What NZ First Home Buyers Need to Know | Podcast 8 | #ASKGC

👉 Let's Chat on Whatsapp: wa.link/4wrwux Pre-Approval vs Final Approval: What NZ First Home Buyers Need to Know | Podcast 8 | #ASKGC You finally get pre-approved, start house hunting, find the property you love… and then the bank says no. So what happened? In this episode of Mortgage Special Podcast, Gaurav breaks down the difference between mortgage pre-approval and a live property deal, and explains what can still affect your finance after you've been pre-approved. If you're a first-home buyer or planning your next property purchase, this episode will help you understand what happens between getting pre-approved and actually buying a home. In this podcast, we covered: 00:00 – am i actually approved to buy an $800k house? 03:23 – what if the house costs less than my pre-approval? 04:11 – can i increase my pre-approval? 05:15 – should you get the maximum pre-approval? 06:29 – 10% deposit: what’s the catch? 07:36 – what do green, amber & red traffic lights mean? 09:03 – what if the bank valuation is lower than the purchase price? 11:21 – can the bank approve me but reject my house? 12:06 – what if my financial situation changes? 13:18 – when should you apply for pre-approval? 15:57 – what can still go wrong at an auction? 17:32 – what happens if the bank rejects the property after the auction? 19:41 – same income, same deposit: why different borrowing capacity? 22:08 – what should you do after getting pre-approved? 24:16 – rapid fire: pre-approval, lvr, valuations & borrowing power 26:29 – maximum approval or comfortable budget? 📍 Based in Auckland, New Zealand 📲 Need personalised mortgage advice? Get in touch via the WhatsApp link: wa.link/4wrwux 👍 Like, Subscribe, and turn on notifications for weekly Mortgage Special Podcasts covering first-home buying, investment properties, refinancing, and more. 👉Subscribe on Youtube:    / @askgc09   👉 Let's Chat on Whatsapp: wa.link/4wrwux 👉 Follow me on Instagram:   / askgc09   👉 Let's Connect on LinkedIn:   / gauravchutani   👉 Follow me on TikTok: www.tiktok.com/@askgc09 👉 Facebook Friends? https://www.facebook.com/profile.php?... The contents of this video are general in nature and not intended as personalized financial advice. We urge you to seek personalised financial advice tailored to your needs, goals, and circumstances before making any financial decisions. Results or benefits may vary depending on individual circumstances. NZMMI, Gaurav and its employees cannot be held liable by any person who relies directly or indirectly on the information contained in this video. #preapproval #firsthomebuyer #realestatenz #mortgage