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.
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. If you currently have an Unloan home loan with an active Lender’s Mortgage Insurance (LMI) policy the maximum amount you can borrow across all Unloan loans is $3,000,000. Please note Unloan currently doesn’t offer loans with an LMI premium. In some cases, depending on the property’s location or type, we may only be able to lend you up to 70% of the property’s value.
Unloan offers a 0.01% per annum loyalty 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 loyalty 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. Government fees may apply. Learn more about government fees here. Your current lender may charge an exit fee when refinancing.