What if a single missing paper delays a home or business approval by weeks — could that affect the interest, fees or the deal itself?
This guide explains the essential records a borrower should prepare for Australian lending. It outlines how an agreement sets out amount, interest, repayments and remedies, and why security over property or personal assets matters.
Readers will learn the types of supporting information lenders check during assessment, from income details to property valuations and guarantees. It also covers registration steps that protect priority and enforceability if things go wrong.
The short overview sets expectations on timelines, what credit teams review, and where to find authoritative advice or copies during the life of the loan. Being organised helps borrowers improve approval chances and secure better outcomes.
Understanding what lenders assess and why documents matter
A lender’s assessment focuses on who is borrowing, how repayments will be met and what backs the advance.
Assessors check the agreement’s core elements: parties (with ASIC details for companies), the amount, whether interest is fixed or variable, and the chosen rate structure.
They verify income and living costs to confirm repayments and ongoing payments. Credit teams use these details to test suitability and reduce hardship risk, especially for home and property applications.
Evidence of security matters. Banks and non‑bank lenders may register a mortgage on land titles or record a PPSR interest. That affects priority and enforceability if a borrower defaults.
The agreement also sets out how payments are calculated, timing, fees for missed dates, and remedies or dispute resolution. Providing complete information early helps borrowers speed up assessment and avoid repeat requests.
Key loan documents most borrowers should prepare
Providing clear proof of income, identity and savings makes assessment smoother and faster. Most borrowers should gather primary ID, recent bank statements and payslips or tax returns so the provider can match names, addresses and dates across files.
Home applicants should add the purchase contract, proof of deposit and statements that show genuine savings over several months. If they receive rent from investments, include rental statements and any tenancy details.
Self‑employed borrowers generally supply two years of tax returns and a current ATO notice of assessment. PAYG applicants can use recent payslips and a year‑to‑date summary to show stable income.
Everyday account statements, credit card and personal loan activity help demonstrate on‑time payments and manageable limits. Where relevant, provide BAS summaries, trust deeds or SMSF paperwork so the bank understands the entity structure.
Include the credit contract or draft agreement if available and declare any fixed or variable interest preference with evidence of expenses and liabilities. A simple checklist reduces back‑and‑forth and shortens approval timeframes.
Business lending: documents a bank or provider will expect
When a business seeks finance, lenders expect a clear package that shows trading history and capacity to repay.
For most business lending, an accountant‑prepared set of financial statements is essential. These usually include a balance sheet, profit and loss and cash‑flow figures that prove profitability and liquidity.
Providers will also ask for the latest tax returns, BAS or ATO portal print‑outs and recent bank statements for both personal and business accounts. Covering several months helps show cash flow and existing obligations.
Directors and shareholders should supply individual returns and ATO notices to verify income that supports serviceability. Entity papers such as company registration, trust deeds or partnership agreements confirm who can sign a contract or guarantee.
Start‑ups should add concise cash‑flow projections, a short business plan and any signed contracts of sale or a lease. Lenders often request information on business assets when structuring security or finance options.
Being organised and seeking professional advice from an accountant improves submissions and can speed approval for the loans under consideration.
Security and guarantees: documents tied to the loan’s collateral
Collateral choices shape the paperwork and the lender’s rights on default.
The most common form of security is a registered mortgage over real property. Registration on the state land titles registry gives the lender priority over unsecured creditors and supports enforcement if debt recovery is necessary.
Personal property security under the Personal Property Securities Act is next. A PPSR registration can cover vehicles, machinery, inventory, intellectual property or a general security interest over present and after‑acquired assets.
PPSR timing matters. Failing to register can leave the security unperfected and vulnerable in insolvency or when other credit claims emerge.
Guarantees must be signed and clear. Lenders assess a guarantor’s capacity and exposure before accepting the agreement. The security and facility terms will also set out interest, fees and enforcement steps.
Using an investment property calls for valuation reports and rental evidence. Choosing the right types of security affects cost, paperwork and how quickly the lender can realise assets if enforcement is needed.
Requesting your loan information: statements, contracts and assessments
A clear written request can unlock the information a borrower needs to verify balances, fees and how their repayment capacity was judged.
Under most consumer credit arrangements, borrowers, mortgagors and guarantors may ask their provider for copies of the credit contract, any mortgage or guarantee, recent account statements and a payout figure.
For contracts entered after 1 April 2011, the provider must usually also supply the suitability assessment used to approve the credit. Requests should be made in writing and should list the date range, amount or form of information required.
Providers commonly must respond within 30 days and may charge a reasonable per-page fee if the contract allows. If statements for the last three months were already supplied, the provider may not have to resend them, so ask about costs and timing up front.
If a borrower disputes a specific debit or credit, they can request written details of how it arose by writing within 30 days of the statement date. If information is not provided, the borrower can seek advice and escalate to AFCA or consider court action.
Bringing it together for a smooth application
Simple organisation of agreements, security choices and recent statements speeds approval timelines. Applicants should match account details and income records for the last few months so assessors can verify serviceability quickly.
For a home purchase include a clear deposit trail and valuation-ready property information. Business applicants should add reconciled financials and concise notes on seasonal income to support forecasts and the requested amount.
Provide documents early, allow a few days buffer for lender queries and be ready to confirm payments frequency and any insurance cover. If uncertain, seek advice to resolve fees or wording before signing so settlement time remains predictable.
