The home loans market is a competitive one. There are a lot of lenders out there offering a lot of different loan types, features and terms and conditions. Even for the financially savvy, finding a home loan that is suitable for you can be a time-consuming and daunting experience.

For example, are you better off with a variable rate, fixed rate or split-interest rate loan? That question alone can confuse and cause stress for most people.

At Marsden Loans, our experienced mortgage brokers can answer all your questions, narrow down your loan options and find a suitable loan for you from our panel of over 40 lenders, which includes the major banks and non-bank lenders.

Our service doesn’t stop there, our team will guide you through the entire loan process, from the loan application to settlement.

So, what information do you need to provide to give yourself the best chance of being approved?

Generally, most lenders will require you to be in your current job role for at least 6 to 12 months. If you’re self-employed or run a business, they may want to see your individual and business finances for the past couple of years.

They will also require:

  • Proof of regular savings history;
  • Proof of salary or wages – pay slips, tax returns, a letter that states your salary;
  • If you’re self-employed you will need to provide your Individual tax return, ATO Notice of Assessment and BAS (Business activity statements);
  • Proof of Identification – driver’s licence, birth certificate, passport or other forms of identification; and
  • Proof of any other income such as shares or rental property.

Lenders may also ask for other documents, including insurance documents, Centrelink statements, bank account statements and more.

Applying for a home loan on your own isn’t always a straightforward task. There is a lot you’ll need to be aware of, and information you’ll need to provide.

Contact us
At Marsden Loans, we make the loan application process easier! If you’re looking to purchase your first home or upgrading from your current home, contact us on 0402 313 164 to speak about your loan options.

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