What are the documents required for refinancing.

There is a list of documents required in order to process and approve your home loan. Make sure you bring the documents below to your meeting with your mortgage consultant to help fast-track your loan application. This is a general checklist, so some of the documents may not apply to you.  Our Mortgage consultant will confirm which documents you need based on your home loan type. All documents can be copies unless stated otherwise.

Identification

100 points ID is required for all types of home loans.

Identity Documetation	Points
Current Passport	70
Birth Certificate	70
Citizenship Certificate	70
Drivers Licence	40
Rates Notice	35
Medicare Card	25
Rates Notice	35

Other documents that help build up 100 points include: Credit cards, ATM/Debit cards, Pensioner Concession card, Health Care card, Electricity/Gas/Telephone/Water Bills, Tertiary Student ID card, Letter from Employer etc. Consult with your mortgage consultant to see the points for each identity document.

Additional Documents For Refinancing

• Documentation on your existing loan including the date the loan commenced, loan period and any financial penalty payable if you exit the loan early.
• 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.
• Credit cards:
• If you have credit card debt, statements for the last six months.

If you don’t owe anything on your credit card, the most recent statement.

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.

Additional Documents If You Already Own A Home

• Statements for the last six months for any existing home loans or personal loans.
• Your most recent credit card statement.
• Copy of the Contract of Sale for the property you’re buying.
• Statements for the last six months to show your savings/investment history.  (This could include share certificates, savings account statements, term deposit statements, etc.).
• If other funds are being used for the 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.

Income Details

These documentation is based on your income status.

If you earn a wage or salary

• The two most recent payslips from your employer (less than 60 days old)  (Ideally these will show the employer’s and employee’s name, year-to-date income figure and other income details

OR any of the following

• The most recent Group Certificate from your employer (PAYG payment summary or Tax Return)
• Current employment contract detailing income and salary
• A letter from your employer outlining how long you have been employed and your income details.

If you are self employed

• 2 most recent years Personal/Business Income Tax Returns and Notice of Assessment, no more than 24 months ld.

If your Tax Returns and Notice of Assessments are greater than 24 months old, you must still provide them along with either one of the following

• Internal management accounts supported by Business Activity Statements (BAS) for the past 12 consecutive months verified by the Australian Tax office; or
• Draft or final financial statements prepared by an accountant.

If you are applying for a Low Documentation Loan you will need:

• To have been registered for GST and working in the same industry for a minimum or 12 months; and
• Your ABN and/or Certificate of Incorporation and your BAS for the past 12 consecutive months verified by the Australian Taxation Office; and
• To sign a Low Doc Declaration which the Bank will provide you with.

If you earn Rental Income

One of the following

• A letter from the Managing/Real Estate Agent which confirms expected rental income
• The Lease Agreement
• Proof of rental income from your bank records or from Financial Statements (for self-employed applicants or companies)

If you receive Government Income (eg: Centerlink and/or Veteran Affairs)

Your latest government advise letter which shows your income/benefit (less than 90 days old)

Documents For Investors

• If you already have investment property:
• Evidence of income such as rental statements.
• A copy of the tenancy lease.
• A Council Rates Notice.
• Copy of the Contract of Sale for the property being purchased.
• A letter from a property manager indicating likely rent for the new property.