Before applying for your loan, you will need certain mortgage documents to support your application, these may include:
- PAYG certificates or tax returns going back two years for everyone applying for the loan.
- Your last two payslips or a letter from your employer setting out your salary details if your employment has recently changed.
- Current savings statements showing you have a deposit plus six months records of your savings history.
- Evidence of the rental income you have received from all investment properties.
- If you’re applying as a company, a copy of the last two years financial statements including balance sheets, profit and loss accounts, memorandum and articles of association and trust deeds.
- Current Loans Statements, or 6 months repayment history if you’re re-financing.
- A copy of the front page of the contract or rate notices of any properties you’re offering as security for your loan.
How much deposit do I have to put down first?
- You will generally need at least a 10% deposit. In certain circumstances you may only have to pay 5%.
- Don’t forget you’ll also need roughly 5% of the purchase price to cover Government charges and legal fees.
- If you’re a first home buyer you will usually need to show at least 5% of your deposit has been saved by you in regular instalments over the last six months.
- The rest of your deposit can be received as a gift from a friend or relative or first home owners grants and government grants.