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:
Parking fees
Charitable donations
Additional superannuation contribution
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.
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.
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.
There are no fees from Unloan. However, there are some mandatory Government costs depending on your state when switching your home loan. For convenience, Unloan adds this amount to the loan balance on settlement.
* Other third-party fees may apply. Government charges may apply. Your other lender may charge an exit fee when refinancing.