Construction Loans

Income Documentation – PAYG

• 2 consecutive payslips; AND
• 3 month bank statement showing salary paid by employer

Note: where serviceability is reliant on additional income from employment such as overtime, allowances, bonuses, the most recent PAYG summary / Single Touch Payroll (STP) summary must be provided.

Income Documentation – Self-employed

• The last 2 years Financial Statements, including business/trust and personal Income Tax Returns; AND
• Latest available tax assessment

OR
Only available to loans ≤80%LVR:

• The most recent 1 year Financial Statements, including business/trust and personal Income Tax Returns; AND
• Most recent 6 months BAS to be provided if the financials are more than 6 months old; AND
• Latest available tax assessment

Other Documentation

• A full and complete Fixed Price Building Contract dated within 12 months. Copies of all contract variations, quotes, and council plans should also be held. These documents are not required for pre-approvals.
• Further documentation is required prior to advance of first progress payment. See Brighten Construction Guidelines.

Credit History

• Paid defaults up to $500 may be considered

ABN & GST

• Active ABN for at least 2 years; AND
• GST registration for at least 12 months (if Turnover >$75,000)

Income Documentation

• Borrower Income Declaration; AND

One of the following:

• Brighten Template accountant’s letter; OR
• 6 months BAS; OR
• 3 months business bank statements.

Other Documentation

• A full and complete Fixed Price Building Contract dated within 12 months. Copies of all contract variations, quotes, and council plans should also be held. These documents are not required for pre-approvals.
• Further documentation is required prior to advance of first progress payment. See Brighten Construction Guidelines.

Credit History

• Paid defaults up to $500 may be considered

Income Documentation – PAYG

• 2 consecutive payslips; AND
• 3 month bank statement showing salary paid by employer

Note: where serviceability is reliant on additional income from employment such as overtime, allowances, bonuses, the most recent PAYG summary / Single Touch Payroll (STP) summary must be provided.

Income Documentation – Self-employed

• The last 2 years Financial Statements, including business/trust and personal Income Tax Returns; AND
• Latest 2 years ATO Notice of Assessments

OR

• The most recent 1 year Financial Statements, including business/trust and personal Income Tax Returns; AND
• Most recent 6 months BAS to be provided if the financials are more than 6 months old; AND
• Latest available tax assessment

Note：Australia, New Zealand, China, Hong Kong SAR, Singapore, United Kingdom and USA income accepted. (Equivalent foreign documents are required when foreign income is used.)

Other Documentation

• Proof of address if it’s not confirmed by Driver Licence
• Brighten Supplementary Residency Form

Credit History

• Paid defaults up to $500 may be considered

Identification Documents

• Certified copy of Passport; AND
• Certified copy of ID card

Credit Report

• Personal Credit Report from the country of residence

Income Documentation – PAYG

• Brighten template Employment Income Verification Form (signed by employer); AND
• 3 months bank statements (within 45 days of assessment); OR
• 2 consecutive payslips no older than: Monthly payslip ≤45 days old; Fortnightly payslip ≤30 days old; or Weekly payslip ≤30 days old

Income Documentation – Self-employed

• 6 months personal bank statements and 1 month business bank statements (within 45 days of assessment); AND
• 2 years business financials; OR
• Brighten template Self Employed Income Verification Form (signed by practicing accountant)

Other Documentation

• A full and complete Fixed Price Building Contract dated within 12 months. Copies of all contract variations, quotes, and council plans should also be held. These documents are not required for pre-approvals.
• Further documentation is required prior to advance of first progress payment. See Brighten Construction Guidelines.

Additional Income Supporting Documents (if applicable)

• Rental income: lease agreement or recent rental statement or 3 months bank statements with rental crediting dated within 45 days. (Accepting rental income outside Australia)
• Investment income: 12 months investment fund or share portfolio statements and dividends received. (Accepting investment income outside Australia)