When you start an Unloan Home Loan application and consent to a credit check, our system typically pre-populates your liability information using data from your credit report, obtained from Credit Reporting Bodies. Learn more about Comprehensive Credit Reporting (CCR).
In some instances, there may be discrepancies between information in your credit report and information you hold. Some reasons your balance may be different to the detected loan limit includes:
A redraw balance on your account
Additional payments made to your current OFI over time that were not categorised as principal payments
This could lead to a discrepancy between information held by the credit reporting bodies and information you hold which is the loan balance you see on your application.
If there is a mismatch between the information that you have inputted into your application and the information we have obtained from the credit reporting bodies, for the same liability, one of our lending specialists will contact you to verify the liability and obtain the necessary verification information.