3. Loan Purpose

Refinance

Residential property:

  • 6 months home loan statements

Owner occupied property becoming investment:

  • Tenancy agreement via real estate agent
  • 1st rental credit via bank statement

Debt consolidation:

  • $100,000 max on Prime
  • Funds disbursed to creditors directly at settlement.

Private Loans:

  • Not available on Prime
  • 6 months repayment history on Near Prime

ATO Debt:

  • Not available on Prime
  • Statement & balance owing via ATO Portal

Divorce Settlement:

  • Executed separation agreement
  • Transfer of Land (draft pre-uncon)

Purchase

Owner Occupied or Investment

  • Contract of Sale

Favourable Purchase

Residential property:

  • If Contract of Sale, lower value compared to Valuation Report.
  • Transfer of Land (draft pre-uncon) consideration amount, transferee and transferor detailed

Unacceptable Loan Purposes

Vendor Finance.

Favorable purchases with rent to buy agreements.

Loans to repurchase an asset that was sold to avoid creditors.

Loans to refinance properties in possession or where an eviction notice has been issued.

Loans to complete structural renovations on our security.

Loans that involve cash backs included in the sale by property developers

Loans to Bluestone employees