The documents that decide how fast this goes

Applications rarely come unstuck on the numbers. They come unstuck waiting — for a statement, an explanation, a document nobody thought to mention. Every gap adds another round trip.

Sorting the following before anything is lodged removes most of that.

Know your own position

Before any paperwork, get clear on the shape of things: what comes in, what goes out, what you owe and what you are trying to do. It does not need to be exact — but a confident answer that turns out to be wrong causes more trouble than an honest "I'll check".

• What you earn, including anything that moves around — bonuses, commission, overtime
• Every debt: mortgages, car loans, personal loans, buy-now-pay-later, HECS
• Credit card limits, not just what is owing on them
• Roughly what you spend in a normal month

The documents that usually get asked for

This shifts depending on the lender and the type of finance, but for home lending it generally starts here.

• Photo ID
• Recent payslips — or financials and tax returns if you work for yourself
• Statements for the accounts you actually use day to day
• Statements for existing loans and credit cards
• Proof of your deposit, or the equity you intend to use
• The contract of sale, if you are buying

Commercial and development finance ask for considerably more — leases, rent rolls, entity financials, an ATO portal report, feasibility studies, building contracts. We will tell you which of those apply to your situation rather than handing over a generic list.

The things that quietly cause trouble

• Cards you never use. An untouched limit can still reduce what you can borrow. Reducing or closing it beforehand may be worth doing
• Shopping around by applying. Several credit enquiries close together are visible to lenders and rarely read well
• Money that appears from nowhere. Large or irregular deposits will be asked about. Have the answer ready
• Buy-now-pay-later. Routinely forgotten when listing commitments, and routinely spotted in the statements
• Tax that is behind. For business and commercial lending, an ATO position that is not current will hold everything up

You do not need any of this yet

It is genuinely better to talk before you start gathering. What you will need depends on which structure suits you, and collecting the wrong paperwork first costs you time rather than saving it.

General information only. This article does not take into account your objectives, financial situation or needs, and it is not personal financial, legal or taxation advice. Lending criteria, fees and conditions apply, and all applications are subject to lender assessment and approval.