Pre-approval in principle
nounpre-ap·prov·al in prin·ci·plepronounced pree-uh-PROO-vul in PRIN-suh-pul
Last reviewed 16 April 2026
What does the noun Pre-approval in principle mean?
An indication from a lender that they would likely lend you a certain amount based on your financial situation. It is not a guarantee and has not been assessed against a specific property. Not sufficient for auction bidding where contracts are unconditional.
How the noun Pre-approval in principle is used
We had pre-approval in principle, but our broker warned us it was not the same as unconditional approval and would not hold up if we bought at auction.
Synonyms
indicative approval, conditional pre-approval
Related words
Cite this entry
MLA citation: "Pre-approval in principle." How to Property, 16 Apr. 2026, https://howtoproperty.com.au/definitions/pre-approval-in-principle. Accessed 30 May 2026.
Chicago citation: How to Property. "Pre-approval in principle." Last modified April 16, 2026. https://howtoproperty.com.au/definitions/pre-approval-in-principle.
APA citation: How to Property. (2026, April 16). Pre-approval in principle. https://howtoproperty.com.au/definitions/pre-approval-in-principle