Bank Products PDF

LENDER ANZ Bankwest Documents - noteworthy - Needs employment contract, not letter. - ANZ offers free translation of documents - Need to provide Australian tax return if you want to use negative gearing BOQ/Virgin - Need to provide Australian tax return if there's existing investment property...

LENDER ANZ Bankwest Documents - noteworthy - Needs employment contract, not letter. - ANZ offers free translation of documents - Need to provide Australian tax return if you want to use negative gearing BOQ/Virgin - Need to provide Australian tax return if there's existing investment property - Wants council rates notice Macquarie NAB Local Credit Report Self employed Acceptable No - Can do cash-out, no doc evidence required up to 80% and $500k. - No ownership % requirement on title - Can consider Trusts under personal trustee. Not corporate - Can accept TR 482 (Med to Long term) if working in Australia, 80% LVR No No - Can accept foreigner co-borrower at 60% LVR, borrowing with PR/AU - Can do 80% for owner occupier - Can do cash-out, no doc evidence required up to 80% and $500k. - No ownership % requirement on title - Doesn't accept TR 309 subclass No No - Cash-out only for new property purchase - Can cas-out only 20% of the total No property value. No No digital signature. > CBA Home loan app form Need Australian mobile Always to tick 2nd option even number if client is from HK - As per BDm - Can do 90% LVR with LMI for Australian expats. - Can do familly guarantor - Can do cash-out, no doc evidence required up to 80% and $200k. - No ownership % requirement on title No - Can consider personal/corporate trustee entity - Only bank can do Norfolk Island Can accept TR 482 (Med to Long term) if working in Australia, 70% LVR No Infotrack for NF2F - To complete the infotrack the applicant must provide Aus passport & Drivers Licence or Birth Certificate - Use 20% of gross rental income, for property investment expense. - 67 retirement age policy - 60% shading for High Density (>6 floors) units rental income - Can use foreign proeprty rental income - Need to comment on partner's income, even if not on the loan application, so Heritage can caluclate HEM. No digital signature. Check version number for forms - always use latest printed from AOL because the one on the portal might not be updated - otherwise they issue MIR No > AOL has been updated Must select Drivers licence otherwise cannot validate AOL - we can add this on FI > As per the latest update now can esign the application forms - Has bank specific questions - Cash-out only for new property purchase No - No ownership % requirement on title - can do dual key apartment No > Aus number and address mandatory, Broker will need to complete POA's VOI as well - Latest year's bonus income for servicing. - Can use negative gearing - CDR is applicable. - RSU income can be considered. Acceptable - Clients to do VOI during loan documents signing. Need to get IDs certified by an eligible witness. They will also need to do an e-verify link sent by the bank. Servicing - $450/m boarding - CDR, can apportion rental expenses 50-50 if both name on the tenancy agreement and only one on application - Needs employment letter, not contract - Wants council rates notice MA Money Prime (Expat) PAYG - 2 payslips or 3 bank statements eSign - Application - Need to do video call selfie if broker not met - For Private, need to do CCID form and posted to Australia - Latest year's bonus income for servicing. - Can use negative gearing - 30% discounting on UAE income / silver currency - Can split rental expense if spousal/de-facto relationship and both name on lease agreement. - RSU income can be considered. No - If property is in ACT, NT, TAs or WA, the mortgage form to be printed, signed and posted back If there is no place for witnessing then confirm with pvt banker - Can docusign if the AU contact details (Need Australian mobile number) have been provided at application submisison and in some state like SA we need to complete overseas identification process - If the loan documents are issued via Docusign, even if the property is in QLD, the client does not need to physically print and sign the mortgage documents. CCID needs to be completed if the broker not met along with a screenshot of the video meeting - Need to be working for ASX200, Government, Large multinational Acceptable Yes - Can use foreign proeprty rental income - RSU income can be considered. - If boarding rent free with spouse, can use $0 rent - MPF / Payslip deductions to be entered under commitment/ liab section not HEM - If the client has a Bonus - Some assessors also add a deduction from the Bonus payslip if there is any. And they add the deduction in commitments - Does not accept SAR unless an exception is provided by the BDM. BDM will ask the client to have a banking relationship (salary credits) for 3 months with them to accept SAR income. - 40% discounting on foreign income. St.George MEZY Plus X (Expat) Misc. - Need to CCID form, but don't need to send to Australia. CBA Heritage eSign - Loan Documents VOI - what / when - Can use foreign proeprty rental income AU tax rate Overseas rental income accepted - No offset account, unless Australian resident - Need POA prior to formal approval. No - Can do cash-out, no doc evidence required up to 80% and $1mil > (pricing) NAB no longer sell the Choice > Can e-sign LDs. Overseas package to new client unless the client Acceptable mobile # is acceptable to already have an existing NAB home loan No e-sign LDs facility with a Choice package. - Pricing as 'Non-package' - No refinance apps Acceptable. - Need 12 months validity on PR Visa > Loan Ref # is 16 digits and - Can do family guarantor (first property only when the assessor picks No only) No up the app, will it be replaced - Cash-out only for new property purchase by the ATOMS Loan Ref # WA - Can accept TR 482 (Med to Long term) XXXXXX if working in Australia, 80% LVR Yes? Acceptable Yes Acceptable No - Can do cash-out, no doc evidence required up to 80% and $500k. > High density unit can only do cashout until 75% LVR No No No No No Yes - 1 year tax return + NOA or accountant prepared financial report > Even if the client is working in UAE (Tax-Free) still the lender requires Tax Returns. Yes but Australian self employed income only LENDER Documents - noteworthy Servicing eSign - Application - CDR applicable if non-party applicant can show income (payslips), and show bank statements to show person actually pays the rent. 3 months Acceptable evidence. - Overseas rental income accepted MEZY Prime/Visa (Expat) MA Money (NR) VOI - what / when PAYG - 2 payslips or 3 bank statements eSign - Loan Documents No Acceptable Yes Acceptable No. >If applicants not living and working in Australia they will require a nominated Australian domiciled Power of Attorney for settlement MEZY Prime (NR) Acceptable No BC Invest Acceptable No Brighten Acceptable No MEZY Plus (NR) AAA? 20% equity in another property, investments or funds in a bank account and evidence is to be provided 2 payslips + 1 bank statement AU tax rate Misc. - Funder is Columbus Local Credit Report Yes Yes - PoA required before settlement - > Foreign Investment Review Board (FIRB) approval to be provided prior to settlement (even if its a refinance deal the No lender requires the FIRB approval that the client may have received when they had purchased the property. Yes Self employed Yes Comany - 2 years financial statements, 2 years tax returns and 2 years NOAs Sole trader - 2 years financial statements for both individuals and business + latest BAS Yes Company registration and latest business tax return + personal tax return + 1 year financial report (2 out of 3) No, PAYG only Yes Non resident accountant letter + BAS + 6 months bank statements