These are just some of the documents required in order for your mortgage application to be processed.
Find out what other statements and evidence you’ll need with our application documents checklist.
Basic application information
Here is a list of documents you’ll need to provide for all types of loans:
- Short application form (provided by your broker).
- Three forms of identification such as a driver’s license, passport, and Medicare card.
You’ll then need to provide different documents depending on your personal situation and the type of loan that you are applying for.
For example if you have a job and are purchasing a home, then refer to the below purchase and PAYG applicants sections.
Purchases
Unless you have already been approved, applicants must provide a copy of the contract of sale. What you need to provide varies between states:
- NSW: front page
- QLD: first two pages
- VIC: particulars page
- SA: first two pages
- WA: Offer & Acceptance (both pages)
- ACT: front page
- NT: all pages
- TAZ: front page
As a general rule, best practice is to always provide a copy of the full sales contract because home loan approval can sometimes depend on ‘special conditions to the contract’.
For example, there may be a caveat registered on the property, an easement or the property may be under a fixed term tenancy.
This information is typically not detailed on the front page alone.
Refinances
While the exact requirements vary significantly between different banks, you’ll typically need to provide evidence of all of your current debts:
- Most recent statement and transaction history for the last six months for your home loan that is being refinanced.
- Most recent statement for any home loans not being refinanced (if applicable).
- Most recent credit card statement (if applicable).
- Most recent personal loan statement (if applicable). This includes car loans.
Self-employed applicants
Your broker will require:
- Two years personal tax returns.
- Two years personal tax assessment notices.
- Two years company/partnership/trust tax returns.
- Two years financial statements (if available).
SMSF documents
Purchasing property for your self-managed superannuation fund (SMSF) will require you to provide various tax documents:
- A certified copy of the SMSF trust deed.
- A certified copy of the custodian trust deed.
- The last 2 years financial reports and income tax returns on all related entities supported by the Australian Taxation Office (ATO) Tax Agent Portal.
- Fund income tax and regulatory return.
- For newly established super funds, evidence of ability to meet stated super contributions e.g. personal tax returns and/or payslips.
- The latest super fund statement for any fund/s you were a member of prior to the establishment of your SMSF.
- The last 2 years audited SMSF annual returns.
- A letter from accountant confirming the company trustee is not trading. You can find a template for this letter on our ‘Accountant’s Letter For A Bank’ page.
Construction Loans
Owner Builder
Owner builder construction loans are available from a few select lenders if you have equity in your land, savings, or a guarantor that is willing to provide additional security for your mortgage.
Here are the documents that the lender will require:
- Full copies of the council approved plans/specifications.
- Detailed budget. Our brokers will provide a spreadsheet for you to input your data.
- Copies of all quotes/estimates.
- Copy of soil test and quantity surveyor comments (required by some lenders).
- Detailed schedule of the build (required by some lenders).
- Copy of insurance policies including builder’s insurance of the works and public liability.
Vacant land construction
When purchasing a block of land that is registered, the contract of sale is usually sufficient enough evidence to provide your broker with.
If the land is unregistered then the contract will include a plan of the subdivision of the block as well as the estimated date the land will be registered.
However, because the contract only shows a potential lot number, the lender can provide an approval subject to the title details being provided prior to settlement.
Above all, it’s important to provide as many details and documents of the building plans as possible. This includes:
- Building contract or a formal written tender.
- Full copies of the council approved plans.
- Builder’s schedule of finishes/specifications.
- Additional documents such as the builder’s insurance will be needed prior to construction commencing.
While these are the basic documents required to apply for a home loan application, some lenders might require additional documents as well. To better understand where you stand, you can simply give us a call at 0423 459 480.
