How to speed up your home loan approval

Every application is unique, so the time between your first contact with your broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along.

If you’re prepared, it will definitely assist with the loan application and approval process.

We will assist you take all the necessary steps to ensure fast home loan approval, but there are simple ways you can help hurry the process along before our first meeting

Disclose all information

To avoid back and forth requests for information, (which can delay the application process), provide as much of the necessary supporting documents, at our first meeting. Some basic requirements, (which may vary based on individual circumstances) are as follows: –

 Income verification (for PAYG applicants)

– Most recent 2 payslips
– Most recent 30 June PAYG Group Certificate issued
– Most recent 3 months bank statement showing salary credits

 Income verification (for self-employed applicants)

– 2 most recent financial years full personal tax returns
– 2 most recent financial years ATO notice of tax assessment
– 2 most recent financial years full financial statements and tax returns for all trading entities (companies / partnerships etc.)

 Other Income verification – where applicable

– Up to date Centrelink statement
– 3 months agents’ rental statements / agents rental appraisal

 Most recent statement issued for all loans (home loan, personal loan, car loans etc.), plus up to date transaction listing since the last bank statement issue date. The period covered must be a minimum 6 months

 Most recent 3 months credit card statements

 Rates notice (for existing properties)

 Contract of Sale (for new purchases)

 Identification – applicants current drivers’ licence and Medicare card