TRANSACTION ACCOUNT STATEMENTS (All applicants)
Three months of transactional banking account statements (irrespective of purpose of borrowing) to:
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Confirm details of where their pay has been deposited.
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Provide evidence of additional income, regular deductions and commitments.
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Assist to identify client’s monthly living expenses.
LENDERS APPLICATION
It is best practice to keep all documentation relating to a lender application in Mercury. Submission Checklist; Broker & Client consent/declaration forms, Servicing Calculator and any other documents associated with the loan transaction to be saved in Mercury.
PAYG APPLICANTS:
Latest payslips (at least one).
What if your client does not receive payslips?
PAYG summary, ATO notice of assessment, or full tax return.
A letter from the employer noting the following must be supplied: (A) employment status (full time, part time), (B) gross annual income, (C) year to date gross and net amount, (D) payment frequency i.e. fortnightly; and (E) gross and net amounts per payment frequency. This letter must be on company letterhead.
CLIENTS WHO ARE PURCHASING A PROPERTY
Three months dedicated savings history via bank statements; and/or
Statutory declaration if funds are being gifted and/or
Evidence of equity
NOTE: Evidence of funds to complete must be saved in Mercury. Purchase contract should be collected to verify purchase price.
CLIENTS WHO ARE REFINANCING
3 Months statements for all loans being refinance (minimum).
CLIENTS WHO ARE CONSTRUCTING A PROPERTY
Three months dedicated savings history via bank statements; and/or
Statutory declaration if funds are being gifted and/or
Evidence of equity
NOTE: Evidence of funds to complete must be saved in Mercury. Purchase contract should be collected to verify purchase price of land and Building Contract to verify cost of construction
ADDITIONAL DOCUMENTS
You should obtain any additional documents:
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To support and verify the individual clients financial situation and
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Those required by the lenders