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Can I bid at auction with Pre-approval?

Whilst Pre-approval provides a level of confidence in your borrowing capacity, there is a risk as sales at auction are typically unconditional and final. As such, it is important that before you bid at auction you log in to the online portal and add the exact property address of the home you intend to bid on. This will allow us to validate everything and run an automated valuation (AVM) during the application to make sure we can lend against the property. 

If we can’t run an automated valuation, we will need to order a full or desktop valuation before your application can be fully approved. This can take some time, and in this instance we recommend waiting to make an offer on the property until the valuation is completed. 

If you have any questions as you prepare to make a bid or offer please call us so we can guide you during this process.

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