Unfortunately the answer to this is YES.
Often the banks will do a pre-approval either over the phone or online and in these cases they rely on the information that you provide them. It seems like they have approved you for a mortgage but there is a lot of fine print and it’s not until they receive the supporting information and assess your loan application correctly that some things become obvious and at that time they may deny or cancel any pre-approval.
Most mortgage advisers do not have the ability to pre-approve mortgages without getting the supporting information, which means getting a pre-approval with a broker takes longer but because they have the information the pre-approvals that mortgage advisers source are typically more robust and less likely to be denied later.
Even if you have a mortgage pre-approval from a bank it would be well worth getting a second opinion from a mortgage adviser. This is something that most brokers should be happy to do for you at no charge and it will highlight any areas of concern or gives you confidence that you can rely on the pre-approval.
Of course sometimes things happen to significantly change a persons situation and that could void any pre-approval.
