Full Doc Home Loans

Income Documentation – PAYG

• 2 consecutive payslips

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
2-Year Financials (Available to loans ≤95%LVR):

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

OR
1-Year Financials (Only available to loans ≤80%LVR):

• The most recent 1 year Financial Statements, including business/trust and personal Income Tax Returns; AND
• Latest available tax assessment

OR
Company Wages: The applicant(s) must demonstrate that they have received a regular salary or director wages consistently for the last 6 months
(Only available to loans ≤80%LVR):

• 2 consecutive payslips no older than: Monthly payslip ≤45 days old; Fortnightly payslip ≤30 days old; or Weekly payslip ≤30 days old
• 6 months bank statements showing payments being made via salary credits to the transaction account or ATO Income Statements noting YTD income declared.
• An Accountant’s Letter confirming that the company has sufficient profits to meet its business commitments and that the business has traded profitably for the last two years.

Cash Out

• Unlimited up to 80% LVR*

*For loans from 80%-90% LVR, cash out is restricted to 20% of the security value.

Credit History

• Paid defaults up to $500 may be considered
• Max 1 month arrears in last 6 months accepted

Income Documentation – PAYG

• 2 consecutive payslips

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
2-Year Financials (Available to loans ≤95%LVR):

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

OR
1-Year Financials (Only available to loans ≤80%LVR):

• The most recent 1 year Financial Statements, including business/trust and personal Income Tax Returns; AND
• Latest available tax assessment

OR
Company Wages: The applicant(s) must demonstrate that they have received a regular salary or director wages consistently for the last 6 months
(Only available to loans ≤80%LVR):

• 2 consecutive payslips no older than: Monthly payslip ≤45 days old; Fortnightly payslip ≤30 days old; or Weekly payslip ≤30 days old
• 6 months bank statements showing payments being made via salary credits to the transaction account or ATO Income Statements noting YTD income declared.
• An Accountant’s Letter confirming that the company has sufficient profits to meet its business commitments and that the business has traded profitably for the last two years.

Debt Consolidation

• Unlimited debt consolidation including payout of ATO debts

Cash Out

• Unlimited
• Business purpose accepted^

^Security must be an investment property and not the only significant asset

Credit History

• Unlimited defaults up to $1,000 accepted (paid or unpaid)
• Unlimited paid defaults > $1,000, registered > 24 months accepted
• Arrears less than 2 months in last 6 months accepted