Alt Doc Construction

Loan purpose:

Owner occupied or investment property:

House and Land construction loans with progress payments.

Acceptable security:

Note: The dwelling(s) to be constructed is limited to a maximum of two residential dwellings on one title. Any development component, by either industry or property use (e.g. best use/project funding) is not acceptable.

Category 1 and Category 2 Postcodes

Suitable borrowers:

Prime only:

Salaried employees

Self-employed

Repayment types

During Construction: Interest Only

After Construction: Principal and Interest or Interest Only(up to 5 years)

Interest rate types

Variable rate

Loan size

Min $200,000

Max $1,500,000

Maximum LVR

80%

Maximum loan term

Up to 30 years

Repayment method

Monthly repayments by direct debit.

Online access

Through the Brighten Home Loans portal

How does it work?

1

Submit Your Application

We process your application and supporting documents, and issue you with a complimentary conditional written approval within 48 hours.

2

Valuation & Income Verification

We will begin our valuation and income verification process after Valuation Fee is settled.

3

Documents Signing

We will issue you the formal loan approval, then we will forward you all the necessary documents you need to sign.

4

Settlement

We finalise your settlement, and your loan is released to you. Congratulations!

Complimentary Assessment

Loan Application Documents Checklist

Brighten Easy Builder®

Full Doc Construction Loan
Brighten Easy Builder®

Alt Doc Construction Loan

Brighten Easy Builder®
Full Doc Construction Loan

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

Identification documents

Form of identification
Proof of Address (if Driver Licence is not provided)

Evidence of Funds

Showing funds to complete the land purchase and construction contract

Evidence of security

Copy of Contract of Sale for purchase of land and Fixed Price Building Contract; AND
Copy of the stamped Council Approved Plans and Builders All Risk Insurance Policy

Credit History

Paid defaults up to $500 may be considered

Brighten Easy Builder®
Alt Doc Construction Loan

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.

Identification documents

Form of identification
Proof of Address (if Driver Licence is not provided)

Evidence of Funds

Showing funds to complete the land purchase and construction contract

Evidence of security

Copy of Contract of Sale for purchase of land and Fixed Price Building Contract; AND
Copy of the stamped Council Approved Plans and Builders All Risk Insurance Policy

Credit History