Documents Required for a Home Loan Application - Part 2

Deposits, assets, debts and living expenses

Alongside your identity and income, the lender needs to understand your overall financial position.

This includes where your deposit is coming from, what you own, your existing debts and your household expenses.

As with Part 1, the supporting documents depend on your circumstances and the lender. I’ll provide a checklist tailored to your application.

1. Your deposit and savings

The lender needs to understand how much you have available and where those funds have come from.

Supporting information may include statements for savings accounts, term deposits or investments, together with evidence of funds coming from another source.

Some applications also require evidence of genuine savings. I’ll explain whether this applies and what evidence the lender accepts. Requirements can differ between lenders and loan options. Westpac’s policy information illustrates how savings evidence can vary.

If family members are helping with your deposit, let me know whether the money is a gift or needs to be repaid. The lender may request signed confirmation of the amount and any repayment conditions.

I’ll confirm the documentation required for your arrangement. NAB’s application guide includes examples of deposit and gift evidence.

2. Your assets and existing property

We’ll put together details of what you own, which may include:

• Savings and investments
• Existing property
• Superannuation
• Vehicles and other significant assets

Supporting evidence may be requested to confirm ownership or value.

If you plan to use equity in an existing property, we’ll review the current loan and the lender’s valuation requirements. I’ll explain what information is needed and how it fits into the proposed application. ANZ’s document guide outlines examples of assets lenders consider.

3. Existing debts and financial commitments

Let me know about your existing commitments, including:

• Home loans, personal loans and vehicle finance
• Credit cards, store cards and overdrafts
• Buy now, pay later facilities
• HELP or other study loans
• Tax debts and repayment arrangements
• Child support and other ongoing payment obligations

The lender may request statements or other documents showing balances, limits, repayments and repayment history.

Credit limits matter even when a credit card has a zero balance, so include those details too. Westpac explains how credit limits can affect borrowing power.

I’ll confirm which accounts need supporting evidence and the periods the documents must cover.

4. Your living expenses

We’ll work through what your household actually spends, including regular bills and expenses that arise less frequently.

This may include groceries, utilities, transport, insurance, healthcare, education, childcare, subscriptions and recreation.

Remember quarterly and annual costs, such as vehicle registration and insurance renewals. We’ll also discuss rent or board, expenses you share with others, and changes you expect after purchasing the property.

Transaction and credit card statements can help build this picture and support the information provided to the lender. Westpac’s living-expenses guide explains the role of spending information in an application.

5. Bringing the information together

I’ll help you understand each document request, the information it needs to show and how to provide it securely.

If something needs explaining—such as a large transfer, an unusual expense or a change in your commitments—we can discuss it before submitting the application.

Keep me informed if your financial position changes while the application is progressing, so we can check whether updated information is needed.

Let’s work through your checklist

You don’t need to have everything organised before getting in touch.

Book a 15-minute phone call, and we’ll discuss your plans and the next steps. Whether you’re local or interstate, we can work through your application over Zoom.