Conditional Approval

A conditional approval, sometimes referred to in Approval in Principle or Pre-Approval, is a term that the bank that it is willing to lend to you, subject to the fulfilment of a specific condition/s. These  may include providing additional documents or satisfying any case-specific requirements set by the underwriter or credit committee. The conditional approval may outline the loan amount, rate or tenor, depending on the application.  All conditions are required to be met prior to the FOL being initiated.