Why do I need to give Car/Personal/Other loan or  credit card statements if the payments are shown in my bank statements?

This is a common question that we are asked. In short it’s because lenders want to see our account conduct.

If they are looking to give us a loan, they want to know in detail, how we handle the loans we already have, as this will give them a good idea of how we might handle our home loans with them.

Generally, they are looking for these things

• Repayments are made on time, no late fees etc
• What the limit is on the facility
• We stay within our lending limits. EG: On credit card with a $5,000 limit, lenders will want to make sure we are not going over this amount.
• What the remaining loan term is
• what the interest rate is
• If we have access to more credit as part of the lending facility

If you do not have access to your statements through an online portal, we recommend calling or emailing your provider and asking for the last 3 months statements.