The following are typical requirements however lenders can vary. If you are unable to provide what is required advise your broker ASAP as there may be acceptable alternatives or we may have to use a different lender.
- Identification – state lands title offices have imposed new strict verification of identity (VoI) requirements. Each lender has slightly different interpretation so don’t act until instructed – ultimately we will require a copy of your passport duly certified by an Australian consular official and a VoI certificate completed at that time.
- Income – three most recent consecutive payslips showing employer, employee and year to date income. Some lenders may accept or may require and additional:
- aletter from your employer stating position, term and salary ( usually only acceptable for government or multi-national company, and
- 3 months bank statements showing regular and consistent income deposits,
- if you own existing Australian property we need rental statements and council rates notice
- if you own foreign income producing property also include lease agreement
- if you receive a bonus this will only be included if evidenced for two years
- Savings / Equity – 6 months bank statements showing funds for deposit, or
- if you have existing Australian property a recent council rates notice, and
- 6 months mortgage bank statements showing timely regular repayments
- Other Liabilities – 6 months statements for any credit commitments includes credit cards
- Contract of Sale – if you have a property in mind or have made an offer provide the main page/s showing details of the property ie: lot number etc and the purchase price – please DO NOT send the full contract until instructed.
Depending on your circumstances there may be other documents required. Please ensure that you scan documents as pdf – you can get a free app for your mobile eg: Genius Scan that allows multiple pages to be scanned and combined into one pdf document. This is much better for us to handle and avoids issues with ISP’s such as Telstra filtering other file formats.