I have a question for you. When you read 'mortgage application' do you:
(a) break in to a cold sweat
(b) not have a clue where to start
(c) feel like this is the moment you qualify as a fully-fledged, actual adult
(d) all of the above
If you're like me and shouted - "(d), ABSOLUTELY WITHOUT A DOUBT, D" then congratulations, this post may be for you. If you answered (c) then clearly you're a mortgage broker.
Steve and I have become very accustomed to the intricacies of the mortgage application process in the last few weeks. Our journey of mortgage application research begun a year ago when we met with our top-notch, son-of-a-gun mortgage broker (more about using a broker in a future post).
A month ago, we had our meeting to get the wheels in motion for the mortgage application to cover the purchase of our land (and arrange the pre-approval for our build). There was a mountain of paperwork required so I thought I would make a list to make it easier to prepare for others.
Photocopy of 100 points of I.D (passport and drivers licence).
2 payslips (if paid fortnightly), 4 payslips (if paid weekly or have variable salary ie. shift worker).
Most recent savings account statement.
Copy of contract of sale for the land.
Most recent group certificate (PAYG certificate used for tax).
Your conveyancer's details.
Screen shot of home page of internet banking accounts showing balances and bsb/account numbers.
Depending on your bank's internet banking (Westpac is the bomb, NAB needs to move in to the 21st century) you should be able to download your most recent statement. In Westpac's case, they allow you to generate an account summary with all the information you need (hallelujah).
Hope this helps, happy application-ing!