Saturday, 02 December 2017 06:00
Here’s a checklist of required documents
Most lenders follow a similar process when it comes to approving loans, so they generally need the same documentation.
To keep the process moving forward, it helps to have the documents listed below. This can help fast-track your loan application.
NOTE: This is a general checklist and you may not need some of them. We can help show you which ones are required.
Personal identification
- A current Passport or Birth Certificate
- Driver’s Licence. (Please note if these documents are in your maiden name, you will also need to provide a copy of your Marriage Certificate.)
- Other documents that could be useful: a Medicare card, Credit card, ATM/Debit card, Council Rates Notice, Pensioner Concession card, Health Care card, Tertiary Student ID card.
Income details
- The two most recent payslips from your employer. (Ideally these will show the company name, ABN, number of payslip and year-to-date income figure).
- The most recent Group Certificate from your employer.
- Rental income statements or bank accounts showing rental income for any investment properties
- Proof of share dividends or interest earned
- Centrelink letter confirming family tax benefits
- Centrelink letter confirming permanent government pensions
- Private pension group certificate or statement
- Proof of any other regular, ongoing income.
If self employed
- The last two year’s personal and business tax returns along with ATO assessments.
- BAS statements
Additional documents that may be required depending on your situation
- Statements for the last six months for any existing home loans and personal loans
- The most recent Council Rates Notice and building insurance policy on the property or properties being offered as security.
- If you have credit card debt, statements for the last 3 months.
- If other funds are being used for a purchase, evidence showing where the funds are held.
- If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money.
- First Home Buyers - Statements for the last three months to show your savings/investment history. This could include share certificates, term deposit statements, etc
- Copy of the Contract of Sale if a property being purchased.
Additional documents for investors
- Evidence of income such as rental statements.
- A copy of the tenancy lease.
- A Council Rates Notice.
- A letter from a property manager indicating likely rent for a new property (if purchasing).
Additional documents for borrowers seeking a construction loan
- A copy of a valid builder’s fixed price tender, including all specifications.
- A copy of Council approved plans.
As always, we're here to help so if you have any questions please don't hesitate to get in touch - Cristian 0421 156 102 - Maria 0403675460
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