The sooner the better! It’s far better to know what your borrowing power is and anticipated repayment structure for budgeting before ‘going shopping’. Having the security of finance approval also means you will be considered a genuine buyer when it comes time to the seller choosing to accept your offer or someone else who isn’t as advanced in their finance application.

Generally, finance approvals will last three months, and most banks/brokers won’t charge a fee to renew the approval if it expires. However, the bank may require additional credit checks for multiple applications so it’s best to know what that will be prior to undertaking multiple applications.