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  • Jason Hayden

Dreaded Documentation

Refinancing will save you many thousands of dollars. In fact, Blue Zinc will never refinance any client unless the savings are substantial.

However the process of collating the documentation or supporting paperwork is often thought of as a little painful. To help you through this process we have provided a little guide below. But first to help with your motivation please read - I am Just Going To Come Right Out and Say It.

Usually we will need to provide two consecutive payslips; last years PAYG Statement; three months bank statements for all accounts; three months statements for all loans and credit cards; two forms of ID; and a rates notice for your property.


With a concerted effort this paper work will take you just an hour or two of concerted time locked away with your laptop and phone.

Here are a few tips to help with document collection:

Payslips: if you have deleted them from your inbox send an email to HR or for larger

companies you will be able to login to your HR system. Just remember the payslips need to be consecutive.

PAYG Statement: from this year onward this is available on your MyGov account or email your employer.

Banks Statements: If you have online banking Blue Zinc provides you with our Wealth Desk service. If you don't have online banking the best option is to ring your bank and ask specifically for the most recent three months statements and a transaction history to today.

ID: Dig out your passport - good opportunity to check the expiry date, and grab your drivers license. Take separate photos of each. Note for the drivers license we need a front and back photo and the address must match. For both documents your name must match the loan

Rates Notice: Council or water rates are fine. Again if you don't have one handy they can be ordered online or phone your local council. Tip - make sure there is no arrears on them.

When the reward is saving thousands of dollars these few hours effort will be the best spent time of your week (Ok, there maybe one or two things better to do with your time).


Timeliness

The documentation you supply is time sensitive. For example, we require the two most recent payslips, so if you are paid fortnightly the payslip can not be older than two weeks. This means if it then takes two weeks to send us the bank statements, the payslip will now be out of date and we will need a new payslip.


Try and collate the documents quickly and send them to us in one or maybe two bundles.


As always if you have problems with any document please let us know and we will provide an alternative.


Investment properties


Rental Statement: If property is leased through an agent, they will usually email you a statement each month or simply email them and CC us, so they will send it back to both of us.


Lease & Bank Statements: If you manage the property yourself we will need a lease and three months bank statements (as above). You can download a blank lease here if needed.


Self employed


Tax Returns: Two years tax returns are required for self employed applicants. Sometimes clients confuse the full tax return for the notice of assessment. We require the completed tax return that is submitted to the tax office. Sometimes it is easier to email your accountant, CC and introduce Blue Zinc.


Notice of Assessment: After your tax return is submitted the tax office will send you a Notice of Assessment. This is usually a one page document on the ATO letterhead.


Financial Statements: Sometimes your accountant will prepare financial statements for your business. These include a profit and loss and a balance sheet. The information in these documents can be different to your tax return. If available these financial statements will assist your mortgage application.


As previously mentioned, if you have trouble obtaining any document please let us know and we will work with you to resolve the issue.

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