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If you are trying to get a mortgage, you can speed up the process by organising every document before you apply.
Any lender you will consult will have identification requirements. This means you must provide ID in the form of either one primary or one and more secondary identification documents or two primary identification documents.
Primary Identification Documents: Birth certificate, name change certificate, current passport, expired passport (that was not cancelled and was present within the preceding two years), citizenship certificates, official documents issued to refugees.
Secondary Documents: Driver’s licence, State issued photo ID card, Photo ID issued by state education institute, mortgage documents, Medicare card, utility bill with signature & current address.
You can declare your income in different ways based on your employment conditions. If you are a self-employed or casual worker, you need a different set of documents than a PAYG employee.
As a PAYG employee, you’ll have to present a recent payslip (no older than two months) asserting your year-to-date (YTD) income. Some banks might ask for multiple payslips, so review each lender’s terms.
If you are a casual worker, you need to present ATO’s notice of assessment from the last financial year.
If you have multiple sources of income, you must present documentation for each source. The required documentation type depends upon the income, such as rental income, shares, Centrelink income.
A lender will be interested in seeing your income, assets, and liabilities to evaluate your overall financial position.
Assets: Assets could be other properties, term deposits, vehicles, or high-interest savings accounts. You will need to provide documentation for each asset you list on your loan application.
Liabilities: Liabilities are ongoing payments or outstanding debts for products such as store cards or credit cards, vehicle loans, or personal loans. You will need to present the statements to show the current due balance for each liability.
If you buy an investment property or a home, your lender requires the property address to process the loan application. You will also need:
A certificate of currency. It is a document that confirms you have the required home insurance covering the property.
A contract of sale. It is the agreement between the vendor selling the property and you as the buyer.
You always have an option to connect with home loan specialists in Adelaide for a no-obligation consultation. We can help you decide the best available loan products based on your situation and related documentation.
Jammaya purchased an investment property in Queensland. She’s taking advantage of our HiLo investor loan product which enables clients to get a 0.75% interest rate on their owner occupier home loan! Many clients are saving thousands per year with this amazing investor-only deal!
Leoni completed a purchase agreement for her first rental property. She secured a fantastic interest rate and her new property is optimised for maximum tax deductions.
“I was offered the rate, checked it with my bank, went into another branch and no one could match it!”
Jammaya purchased an investment property in Queensland. She’s taking advantage of our HiLo investor loan product which enables clients to get a 0.75% interest rate on their owner occupier home loan! Many clients are saving thousands per year with this amazing investor-only deal!
Leoni completed a purchase agreement for her first rental property. She secured a fantastic interest rate and her new property is optimised for maximum tax deductions.
“I was offered the rate, checked it with my bank, went into another branch and no one could match it!”
Jammaya purchased an investment property in Queensland. She’s taking advantage of our HiLo investor loan product which enables clients to get a 0.75% interest rate on their owner occupier home loan! Many clients are saving thousands per year with this amazing investor-only deal!
Leoni completed a purchase agreement for her first rental property. She secured a fantastic interest rate and her new property is optimised for maximum tax deductions.
“I was offered the rate, checked it with my bank, went into another branch and no one could match it!”