An Approval in Principle (AIP) — also called pre-approval or pre-qualification — is a written confirmation from a bank that they are willing to lend you a specific amount, subject to a formal property valuation and full credit assessment. An AIP is not a final loan offer but demonstrates your buying power to sellers.

Most South African banks process pre-approval applications within 24–72 business hours. Using a bond originator (who submits to multiple banks at once) can speed up the process. Once approved, an AIP certificate is typically valid for 90 days.

Yes, a formal pre-approval application triggers a hard credit enquiry which temporarily affects your credit score. However, the impact is minor (typically 5–10 points) and recovers within a few months. Multiple enquiries within a short window may have a larger impact, so use a bond originator to submit to all banks at once rather than applying separately to each.

Yes. Some South African banks offer 100% bonds (no deposit required) for qualifying first-time buyers with strong credit profiles. Most standard applications, however, require a 10%–20% deposit. A larger deposit improves your chances of approval and can result in a lower interest rate.

For salaried employees: copy of ID, last 3 payslips, last 3 months' bank statements, proof of residence. For self-employed: copy of ID, last 2 years' financial statements, last 6 months' bank statements, proof of residence. Additional documents (e.g. divorce order, estate documents) may be required depending on your circumstances.