Checklist, do you have everything you need for your future home loan?

Checklist

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CHECKLIST

Not sure what you need for your next loan or purchase? Let HOLO help you out – here is a guide of information that you may need to provide when purchasing or refinancing.

If you’re purchasing a property

  • Signed Contract of Sale
  • Receipt for the deposit paid
  • Three months dedicated savings history


If you’re building or making significant renovations

  • Signed Fixed Price Builders Contract and Specifications
  • Council Approval Plans and/or Builders Permit (depending on state)
  • Plumbing & electrical permits (WA only)
  • Builders Indemnity Insurance Policy, Home Owners Warranty
  • Three months of savings history or evidence of equity
  • Rates notice if you own the land, or ‘Purchasing a Property’ requirements (above) if purchasing land.


If you’re refinancing and changing lenders

  • 3 - 6 months of your current home loan statements
  • 3 -6 months of any other debts being consolidated (personal loans; credit cards)
  • Rates notice for the security property.


To confirm your identification

1 document with photo

  • Driver Licence
  • Australian Passport
  • Proof of Age Card issued by an Australian State/Territory (including 18+ Cards)
OR

1 document without photo

  • Drivers Licence (without photograph)
  • Australian birth certificate/extract
  • Citizenship certificate
  • Centrelink Pension Card
PLUS

1 secondary document

  • Medicare Card
  • Credit/Debit ATM Card (Australian issued)
  • Bank Statement, Passbook or Term Deposit Certificate issued within the last 3 months
  • Tertiary Education Student Card
  • Government-issued Identity Card with a Photo
  • Utilities Statement - Rates, Electricity, Wates, Telephone issued within the last 3 months


To confirm your current loans

  • 6 months Loan Statements - Home, Investment Property
  • 3 months Loan Statements - Personal Loans, Car Finance
  • 3 months Credit Card Statements

To confirm your Income

PAYG Income
  • Latest 2 consecutive Payslips; and
  • PAYG Summary; or ATO Notice of Assessment; or Full Tax Return
  • 3 months of transactional banking account statements

If you don’t receive payslips, a letter from your employer on company letterhead, with the following information, will be needed:

  • employment status (full time, part time)
  • gross annual income,
  • year to date gross and net amount,
  • payment frequency i.e. fortnightly; and
  • gross and net amounts per payment frequency.
Self-Employed
  • 2 year’s personal tax returns and ATO notice of assessment;
  • 2 year’s tax returns for business entity (company, trust etc.)
  • 2 year’s profit and loss statements (if applicable).
  • 3 months of transactional banking account statements
Self Employed - Alternative ‘Low Doc’
  • 6 months of BAS statements
  • 6 months of Business account statements
  • 6 months of personal bank account statements
  • Confirmation of ABN
  • Confirmation of GST registration
  • A letter from your Accountant on company letterhead, with the following information, will be needed:
    • Client's full legal name
    • Trading name.
    • How long the accountant has been serving this customer?
    • Gross taxable income for the last 3 years.
    • Any relevant deductions (interest, depreciation etc.)
Other items that may be needed
  • Latest 2 years Taxation Returns if a Company, Trust, SMSF involved
  • Latest Centrelink Benefits Statement
  • Latest Child Support Agency - Income Confirmation Letter plus 12 months’ bank statements confirming regular receipt of payments
  • Latest 3 months Rental Property Income Statements


To confirm your assets

  • Council Rates Notice for existing properties
  • 3 months Transactional / Savings Account Statements where your Income & Salary is credited
  • Term Deposit or Investment Account Certificate
  • Share Portfolio documentation
  • Superannuation statement (from fund showing balances)

Please note the above list is only a guide and you are unlikely to need to provide all of the information. Each lender’s requirements may have different and will be based upon your individual circumstances.

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