Set your customers up for success by checking these details before you send the finance referral. You're not required to verify eligibility yourself, but confirming these points with the customer protects your time and improves their chance of a successful application.
Eligibility criteria
- The household’s total taxable income does not exceed $210,000 per year.
- The property is located in NSW.
- The customer is an owner-occupier or landlord.
- The property is not social housing or used for short-stay accommodation.
- The customer is an Australian Citizen or Permanent resident.
- The csutomer meets our credit assessment requirements.
- The loan is available across NSW and is subject to Brighte approval.
How income is verified
A Notice of Assessment (NOA) from the ATO is required for every person on the property title - not just the person applying. This is how the $210,000 income threshold is verified.
What to tell your customer:
"Before you start your application, everyone on the property title will need their Notice of Assessment from myGov. It's the document the ATO issues after processing your tax return — you can find it under ATO services in myGov."
The NOA can be from either of the last two financial years. If a co-owner hasn't lodged recently, the prior year's NOA is fine.