An in-principle sanction obtained before shortlisting does two things: it fixes your real budget, and it removes the most common reason bookings collapse.
Lenders assess the borrower and the project separately. A project already on a bank's approved list clears faster, so the approval status is worth checking at shortlist stage rather than after the token payment.
Where a project is not approved, expect a full technical and legal appraisal, and build three to four additional weeks into the payment schedule.
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