Home Loan Application Document Checklist - NAB … · Page 2 of 4 Overtime and commission income One payslip showing Year to Date (YTD) overtime income over a minimum of 6 months;

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Fax to Fax Number Date Faxed

Fax from (Broker’s Name)

Broker’s Business Name and SPID

Broker’s Phone No. Broker’s Mobile No. Broker’s Fax No. Total Number of Pages

Name of Applicant/s

Please ensure that the following forms are completed and signed by the applicant and submitted along with any of the relevant supporting documents.

Home Loan Application; and

Authority to Disclose Information to NAB; and

Acknowledgement and Consent by loan applicants (for each borrower)

Acknowledgement and Consent by prospective guarantor (if applicable)

Declaration of Purposes for which Credit is Provided (if applicable)

Customer Identity Check (if applicable)

FATCA Self Certification Declaration form (for companies/trusts) (if applicable)

Discharge Authority: (existing NAB loan) (if applicable)

Guarantor Particulars (if applicable)

Other Lenders Refinance Authority (if applicable)

Please tick ( ✓ ) the boxes below to indicate which supporting documents are being provided to NAB. Bear in mind that some of the supporting documents may not apply to your applicant.

1. Identification for NEW to NAB customers (100 point identification check)

“NAB – Identity Record for a Signatory to Account – Customer Identity Check” form

Photocopies of relevant documents used to perform Customer Identity Check

2. Identification for Beneficial Owners

A certified copy of a primary photographic identification document or a certified copy of a primary non-photographic identification document and a certified

copy of a secondary identification document for all Beneficial Owners included as part of the application

3. Verification of income

PAYG

Permanent employment

Employment income deposits to a NAB transaction account covering two pay cycles, not more than 60 days old. This is to be verified by supplying NAB’s

account number; or

Bank statement, no older than 60 days, showing the last two salary deposits. Where the salary credits are inconsistent and the variance is >20%, a payslip to

support the statement is required; or

One payslip, not more than 60 days old, with minimum of 2 pay cycles evident in YTD (showing both the employer and employee name); or

Two of the last three payslips, the latest one no more than two month’s old (showing both the employer and employee name)

Casual or PAYG Contract employment

One of the above that covers at least six months payments. Where a payslip is used as evidence but reports a YTD figure less than 6 months than PAYG Payment

Summary or Personal Tax Return for the last financial year must be provided.

To help make the application process as quick and easy as possible, please complete the checklist below indicating which documents you will be providing to support the applicant’s Home Loan request. A NAB representative may contact the applicant should there be a need to request additional information.

Important:

• Separate checklists are required for Joint Applicants and/or Guarantors.

• Tax File numbers must be removed from all supporting documentation in line with the Privacy Act provision.

• Original documents must be copied and held on the applicant’s file.

Home Loan Application Document Checklist

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Overtime and commission income

One payslip showing Year to Date (YTD) overtime income over a minimum of 6 months;

Where YTD is not evident on payslips, or is less than 6 months, provide the most recent:

• 6 months payslips; or

• PAYG Payment Summary; or

• Personal Tax Return; or

• a signed contract of employment or letter of offer that specifies regular overtime as a condition of employment

Bonus income:

Payslips, payment summaries or personal tax returns to evidence the bonus payments for last two financial years; or

Bank statement(s) and transaction listings to evidence receipt of bonus payments for last two financial years; or

A signed employment letter detailing the bonuses paid in the most recent two financial years.

Note: Any combination of the above to evidence receipt of bonus payments for last two financial years is acceptable

Self-employed borrowers

Last two years (Personal and Business) tax returns where the most recent year is not to be older than 18 months; and ATO notice of assessment (for most recent

year only) or ATO lodgment notification (where notice is yet to be obtained); or

Last two years financial statements corresponding to the above where the most recent year is not be older than 18 months (NB: can be less than 24 months

for non-trading entities)

Shares & managed investments

A shareholding certificate or current dividend statement/notice; or

A letter from the applicant’s NAB Group Financial Planner confirming their income (if applicable)

Government allowances (e.g. Centrelink and/or Veterans’ Affairs)

A current Centrelink statement showing name of customer, frequency and amount; or

A current bank statement showing direct credits identifiable as the government allowance

Superannuation – If applicant receives Income from their superannuation fund

A current superannuation fund statement; or

A current bank statement showing the regular income from the superannuation investment; or

A letter from the applicant’s NAB Group financial planner confirming their income (if applicable)

4. Verification of assets

Assets which form part of a customer’s contribution to a purchase

Deposit paid for a new property; or

Sales of asset proceeds; or

Cash or funds held in a bank account (that are NOT with NAB)

5. Verification of liabilities

Refinancing of any Debts that are NOT with NAB

Last six months loan statements and/or transaction listings no older than 60 days at the time of application for loan(s) being refinanced, and

Last three months credit card(s) statements for cards being refinanced (showing name, card limit, and balance)

6. Purchases

First Home Owner Grant (FHOG)

Completed First Home Owner Grant (FHOG) application together with supporting documents as specified in the FHOG application

7. Existing External Mortgage Repayments

Loan statement, Internet account summary or Internet transaction listing (no older than 6 months) that evidences the

• loan limit*; and

• interest rate; and

• expiry date of the loan term (excluding line of credit facilities)

* current balance plus any available redraw

Note: Where the above documents do not capture the necessary information another document type (e.g. loan contract) can be used to verify requirements

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Purchasing a property?

If the applicant has already purchased/found the property and has the following:

Real estate/solicitor’s/conveyancer’s details (name, address and phone number); and

Copy of the full Contract of Sale for the property including purchaser’s name, purchase price and property address – signed and dated by all parties

Copy of Transfer of Land

Building a property?

By owner builders:

Copies of council certified approved plans/specifications/permits/licences

for owner builder construction works:

Copy of Quantity Surveyor (QS) report detailing anticipated construction

costs; and

Detailed outline of full construction costs that includes Progressive Payment

Schedule and contingency/overrun – must be presented in a format

acceptable to NAB; and

Copies of all quotations/invoices/estimates; and

Copy of soil test and quantity surveyor’s comments; and

Detailed timing schedule

Copies of insurance policies (required prior to first progress payment):

• Builders All Risk/Public Liability Insurance; and

• Public Liability Insurance;

• For Northern Territory: Home Building Certification Fund (HBCF)

Owner Builders Policy

By registered builders:

Copies of plans/specifications/permits:

• Full copy of building plans; and

• Building permits (or stamped plans)

Fully executed copy of building contract; and

Copies of insurance policies (required prior to first progress payment):

• Builders All Risk/Public Liability Insurance; and

• Domestic/Home Warranty Insurance; and

• Public Liability Insurance

Rental incomeNew rental (one of the following):

Current executed lease agreement; or

A market appraisal from a registered real estate agent, no older than 60 days

Existing rental (one of the following)

Current executed lease agreement (including a Contract of Sale – Rental Schedule); or

Rental statement(s) on a real estate agent’s letterhead dated within 60 days of application submission showing minimum 4 weeks of rental payments and details

the property owner and address; or

Rental property schedule contained in a current tax return no older than 2 years, either prepared by a tax agent or containing evidence of lodgement to the

ATO; or

Bank statement(s) or transaction listings no older than 60 days showing at least two direct credits identifiable as rental income

Note 1: where it is a private rental agreement, rental income must be demonstrated over a minimum of 2 months

Note 2: For properties generating holiday or short-term rental income, gross rental income must be calculated for a minimum period of 12 months based on the above

information

8. Insurance

If your client has indicated in their NAB Home Loan Application that they would like an obligation free quote for:

• NAB General Insurance/Home & Contents;

would you like your NAB Lending Specialist to contact them to provide more information?

Signature and declaration

Note: All matters declared should have, where relevant, considered NAB’s policies and requirements including our ‘Responsible Lending Guide’

(refer to nabbroker.com.au for further information).

By signing this form

1. I declare that I have provided copies of the above selected documents to NAB for verification purposes.

2. I confirm that I have sighted originals of the documents and that:

• they are true and correct copies;

• they were provided to me by the home loan applicant(s) and/or guarantor(s); and

• there were no obvious signs of tampering or amendments to the documents which I sighted

3. I have made reasonable inquiries and can state that the product meets the applicant(s) requirements and objectives

4. I confirm that the applicant’s stated requirements and objectives as outlined in the Application Form are consistent with those identified during my preliminary

assessment or I have informed NAB of any additional requirements and objectives of which I have been informed or have identified.

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5. For loan applications which refinance a loan or consolidate debts, I considered the costs, risks and benefits for the applicant(s) of the refinancing/debt

consolidation, including

• fees payable as a result of the refinancing/debt consolidation (both in ending the old loan and in establishing the new loan);

• a comparison of the interest rate of the current loan and the proposed new loan;

• a comparison of the loan term and repayment amount of the current loan and the proposed new loan and whether the applicant(s) would get improved cash flow

as a result of the refinancing;

• whether any debt consolidation involved would achieve administrative convenience for the applicant(s); and

• whether the applicant can afford to make the change to the product and meet the new payments without substantial hardship

I am satisfied that the refinancing/debt consolidation meets the applicant(s) requirements and objectives.

6. I have provided NAB with the update to date and entire Income and Expenses obtained from the applicant(s) in the preliminary assessment.

7. I verify that I have provided details of any conflicts of interest relating to this application.

8. In relation to the applicant(s) current employment and income is/are the applicant(s) aware of anything which may adversely affect this and their ability to meet their

future financial obligations? Yes No If Yes, provide details below:

What is the significant change?

When will this likely occur and for how long?

What is the applicant(s) plan to manage the

significant change in order to continue to

meet their financial obligations?

9. I have made reasonable inquiries and a preliminary assessment that the proposed Redstar credit contract is not unsuitable.

CONFIDENTIAL COMMUNICATION

The information contained in this facsimile is confidential. If you are not the intended recipient of this facsimile, you must not copy, use or disclose any of the information it contains. If you have received this facsimile in error please notify the sender immediately.

©2017 National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 75044A0217

Broker’s signature

Date

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