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- 1.Introduction
- 2.Borrowers
- 3.Loan Purpose
- 4.Identifying Borrowers
- 5.Loan Amount rules
- 6.Maximum Loan to Value Ratio (LVR)
- 7.Cash out limits
- 8.Documentary Requirements by Purpose/Product
- 9.Credit Impairment
- 10.Credit (CRA Report) Events
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- 11. Employment and Income
- (a)PAYG: Full Time
- (b)PAYG: Part-Time
- (c)PAYG: Contract
- (d)PAYG: Casual
- (e)PAYG: Overtime & Shift Allowance
- (f)PAYG: Bonuses
- (g)PAYG: Commissions
- (h)PAYG: Parental Leave (maternity leave)
- (i)PAYG: Payslip Deductions & Non-shift allowances
- (j)Self-Employed: Fully Verified
- (k)Self-Employed: Alt
- (l)Self-Employed: Alternative Documentation – BAS
- (m)Self-Employed: Alternative Documentation – Business Bank Statements
- (n)Other Income: Rental
- (o)Other Income: Pensions and Government Benefits
- (p)Other Income: Superannuation
- (q)Other Income: Child Maintenance
- (r)Other Income: Income Protection and Workers Compensation
- (s)Other Income: Austudy
- (t)Other Income: Scholarship
- (u)Other Income: Foster Carer
- (v)Other Income: Seasonal
- (w)Income: Add Backs – Depreciation & Interest
- (x)Other Income: Directors Fees
- (y)Other Income: Trust Distributions
- (z)Unacceptable Income
- ()Acceptable Industry
- 12.Serviceability
- 13.Securities and Valuations
- 14.Valuation Criteria
- 15.Approvals, Declines or Withdrawals
- 16.Exit Strategy
- 17.Independent Legal Advice (ILA)
- 18.Variations and Increases
- Contact Your BDM
- Apply Online
4. Identifying Borrowers
Borrowers to be identified as per VOI standards
The Verification of Identity (VOI) is the verification of a Borrowers identity to be completed by the Broker or a third party Bluestone is aligned to (Auspost, ZipID, IDyou & IDme). To verify the Borrower we will generally require a minimum of 1 photo identification as well as 2 other forms of ID as per our guidelines.
Bluestone has an obligation to take reasonable steps to verify the identity of each mortgagor (Person being identified) before the signing of the mortgage.
Acceptable ID
There are strict rules regarding the documents required for the VOI and are listed below.
- Birth Certificate
- Drivers licence
- Australian Passport (no more than 2 years out of date)
- Foreign passport - must be in date
- Medicare card
- Marriage Certificate (from Births death and marriage only)
- Citizenship certificate or descendants certificate
- Change of name
- Government-issued ID
- Citizenship certificate where the applicant is a child and on their parent citizenship certificate
- Pension Card
Unacceptable ID
- Ceremonious Marriage Certificates (Not Births death & marriage version)
- Forklift licences
- Credit cards
- Library cards
- Working with Children card
- Firearms Licence
- Fishing licence
- Boat Licence
- Titre de Voyage passport (refugee)
- RSL member card