Application process

Basic requirements include proof of income (for example, salary statements, rent received, etc.) and evidence of savings. Self-employed and company applicants need to provide copies of recent tax returns and financial statements. Copies of the Contract of Sale or Building Contracts for new homes are required. You can also use our document checklist of what you will need to apply.

If you're self-employed or own your own business, you can apply for a Low Doc Loan or a Low Doc Portfolio Loan with simplified financial documents.

It's easy to apply for a home loan.

You can apply online.Completing the application is quick and simple and should take you less than 15 minutes. Once you submit your application, you will receive an immediate acknowledgement that it has been received, along with an estimated repayment amount and next steps to gaining full approval. To save time and provide even more convenience, one of our Home Loan experts will contact you at a time of your choosing (between 8am & 10pm, 7 days a week, EST) to verify your information, discuss your loan needs and progress your application.

You can enquire online and a BankSA home loan expert will call you at a time you choose to start the process.

You can drop by any BankSA branch or call us on 13 13 76. You can also use our document checklist to find out what you need to apply.

Once you submit your application, you will receive an immediate acknowledgement that it has been received, along with an estimated repayment amount and next steps to gaining full approval. To save time and provide even more convenience, one of our Home Loan experts will contact you at a time of your choosing (between 8am & 10pm, 7 days a week, EST) to verify your information, discuss your loan needs and progress your application.

Once you submit your application, you will receive an immediate acknowledgement that it has been received, along with an estimated repayment amount and next steps to gaining full approval. To save time and provide even more convenience, one of our Home Loan experts will contact you at a time of your choosing (between 8am & 10pm, 7 days a week, EST) to verify your information, discuss your loan needs and progress your application.

You will complete your application and submit it with the necessary documentation. After we confirm your borrowing capacity, we will issue a conditional approval to say we will provide the loan to you subject to certain conditions being fulfilled (such as the receipt of a satisfactory property valuation or some details being confirmed).

After these details are finalised, we can formally approve your loan, and issue you with a Loan Offer and your Mortgage documents. We then liaise with you and your legal representative to make sure all conditions of the loan approval are satisfied.

No. Once you submit your application, you will receive an immediate acknowledgement that it has been received, along with an estimated repayment amount and next steps to gaining full approval. To save time and provide even more convenience, one of our Home Loan experts will contact you at a time of your choosing (between 8am & 10pm, 7 days a week, EST) to verify your information, discuss your loan needs and progress your application.

Yes. Your BankSA home loan expert will advise you what documentation is required and provide you with a fax number, or email address, to send it to. Once they receive all relevant documentation, they will contact you to progress your application.

Yes. You can still apply online even if you have not yet found a property. When completing the online application, you can enter an estimated purchase price, area you are looking to buy and/or estimated rental income if you wish however you may proceed with the application regardless.

Once you have submitted your application you will receive an immediate response, on screen, confirming that your application has been received, your estimated repayment amount and next steps to gaining full approval. Each applicant that has entered an email address will also receive this confirmation via email.

In addition, each applicant that has entered a mobile number and/or an email address when completing the online application, will receive an automatic notification via SMS and/or email when:

• your application is approved
• your loan documentation has been sent to you
• you have returned your loan documentation and it has been received by the lender
• your title has been certified
• your loan has been settled

If you have any queries, or would like to know the status of your application prior to its approval, please call our home loan experts on 13 13 76 - 8:00am to 8:00pm (EST), Monday to Saturday.

Lastly, once your loan has been approved, you can check the status of your application at any time via Internet Banking.

At this stage you can apply for the following loan types:

• Advantage Package
• Standard Variable Loan
• Basic Variable Loan
• Fixed Rate Loan
• Portfolio Loan
• Low Doc Variable Loan
• Low Doc Fixed Loan
• Low Doc Portfolio Loan

This depends on a number of variables and is not required in all cases. If we do need to get one, we will take care of it for you.

We will confirm the information you have provided to us to make sure that we won't over-commit you financially. When everything is approved we will provide you with a Loan Offer that outlines the terms and conditions of your loan. We ask you to sign a copy of the Offer and send it back to us. We will then work with you and your Solicitor to make sure that everything is completed in time for settlement.

There are a number of variables that influence whether you'll need Lender's Mortgage Insurance, or LMI, and it is not necessary in all circumstances. Generally it is required if you are borrowing more than a specific value of the property (normally when you are borrowing more than 80%), however this condition varies depending on property type, location of the property, loan type, etc.

Lender's Mortgage Insurance protects the Bank against loss in the event that you default on the loan. In the case of a mortgage exercising power of sale, if the property is subsequently sold at a price that does not cover the loan in full, this insurance will cover the debt owed to the Bank.

The survey certificate tells us if the place you are buying (or building) is wholly within your property boundaries and if anyone else's house (or fencing, etc.) is encroaching on your property. If there are any encroachment issues, it is best to find out before settlement rather than try to fix them afterwards. If you are building a new home, the survey certificate tells us where on your land the house will be built.

The first progress payment can be released after we receive a signed copy of the Building Contract, copies of the Council-approved Plans and Specifications, a copy of a survey (NSW only) and a signed request from you to release the funds. Learn more about our Construction Loan.
We can also release funds for land settlement if this is required.

If you haven't taken out a Deposit Bond, your Solicitor will usually need your funds to pay the deposit on your new home. This could be at the time of signing the Contract of Sale. The Solicitor may also require your money to pay the Stamp Duty on your new purchase.

This is required a few days before settlement. The difference between the amount you borrow and the purchase price will need to be paid to your Solicitor in time for the funds to clear so that they can have cheques made out in favour of the seller at settlement.

We know this is an important part of the process for you so we try to approve all of our applications as quickly as possible. In some instances, you may get a an approval in principle. We generally take 24 – 48 hours to give you an answer once all required documentation has been provided.

Timing does vary depending on circumstances. If you are refinancing from another lender to St.George, we will have your loan switched over to BankSA as quickly as the other lender can release the security documents.

If you are buying a new home, then once all checks on the security property are completed we can arrange to release the money. On average it takes about 4 – 6 weeks; however for properties in Queensland it can be much faster due to different legal requirements.