At Unloan, we strive to have clear and open communication with our customers. That’s why in assessing your Unloan home loan application, we carefully review any deductions shown on your payslips.

It’s important to disclose both pre-tax and post-tax deductions and expenses, as it allows our lending specialists to gain a comprehensive understanding of your financial situation. This can help streamline the loan assessment processes and increase the likelihood of your home loan application being approved.

If you happen to overlook adding details such as your novated lease on the income section, you can include this information in the Debts & Liabilities section. Alternatively, our lending specialists can help you with this after your initial application submission.

When it comes to pre and post-tax deduction expenses, we consider them as part of your monthly living costs, rather than your debts or liabilities. These expenses may include:

If you need help with documenting your deductions, our Customer Success Team is able to help you.

Learn more about deductions and why are they required in a home loan application.

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval, satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000, and total borrowings per customer across all Unloan loans is $10,000,000. (For purchase loans a minimum 10% equity is required - however a Lenders Mortgage Insurance (LMI) premium and higher interest rate apply. In some cases, depending on the property’s location or type, an LMI premium may also be required for LVR between 70.01% to 80%). For loans with Lenders Mortgage Insurance (LMI) the minimum loan amount is $10,000, maximum loan amount is $3,000,000 and total borrowings per customer across all Unloan loans is limited to $3,000,000).

Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

*At Unloan, we do not charge any annual, application, banking, account, transaction, late or exit fees. In certain circumstances you may be required to pay a Lenders Mortgage Insurance (LMI) premium. Learn more about why this is applied and how it works. Government fees may also apply. Learn more about government fees here. Your current lender may charge an exit fee when refinancing.