What you need to apply
To speed up your application, make sure you have the necessary documents on hand when applying for your mortgage or investment loan - you can fax, email or post these documents to us.
Due to the Government's Consumer Credit Code requirements borrowers must supply certain documents when applying for a loan. These are specified below.
I am a…
PAYG Applicant:
Required:
- 2 pay slips required for each PAYG applicant (one no more than 1 month old)
- Latest group certificate OR latest tax return OR latest tax assessment
- 100 point identity check
- Letter from employer confirming superannuation salary sacrifice and/or fully maintained vehicle (if applicable)
Self-Employed/Company/Trusts Applicant:
Required:
- Financials (eg. profit & loss statement and balance sheet)
- Tax returns for the business in last 2 years (the latest cannot be more than 18 months old)
- Personal tax return for the last two years
- 100 point identity check
May be required:
- Interim financials/BAS Statements
- Last 3 months bank statements of business working accounts
Trust applicants:
Company applicants:
- Copy of company constitution
My Loan will be used for…
Refinancing:
Required:
- 6 months bank statements for home loan to be refinanced (to show you have a good repayment history)
- Last three months worth of statements required for each credit card being refinanced.
- Last six months worth of statements for any personal loans and other unsecured loans being refinanced.
- Latest council rates notice
- 100 point identity check
May be required:
- Latest water rates notice and/or body corporate levies
Property purchase:
Required:
- First two pages of the contract of sale
- A Statutory Declaration stating that a gift or any other contribution you have received is not repayable, and evidence that the funds for the gift/contribution exists eg. Statements.
- If the LVR < 80%: Latest bank statements to confirm that you currently hold the funds for the deposit
- If the LVR between 80%-90%: You will need to provide proof that you have genuinely saved a minimum of 5% of the purchase price.
How to provide proof of genuine savings:
At a minimum, 3 months financial records need to be provided evidencing genuine savings.
At least 5% of the purchase price must be shown to be held at the end of a 3 month period. Depending on the records provided and how the 5% balance has been accumulated, some deposit amounts may need to be held for a full 3 month period in order to support the application, and in some situations, for up to 6 months.
Genuine savings can also be formed from equity in a residential property, and shares held for no less than three months.
| Saving for your deposit: |
If you're borrowing up to 90%, you will need at least a 10% deposit. This 10% must include at least 5% genuine savings. The remainder of your deposit can be formed of 'non-genuine savings', which include:
- Gift or inheritance only
- Sale of assets e.g. motor vehicle
- First Home Owners Grant (FHOG)
- Funds held in a company / business account
- Personal loan proceeds
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