WHEN you apply for a loan, ensure you have the following paperwork:

Photocopies of current bank account statements.

Proof of share holdings and other assets.

Details of any second income, bonuses, allowances or benefits.

Payslips or a letter from the applicant's employer outlining length of employment and salary.

If self-employed, tax agent income statements and income tax returns.

If self-employed, profit and loss statements certified by a registered accountant.

If also selling a home, copies of exchanged contracts or a solicitor's letter confirming a firm buyer.

If paying out an existing mortgage and starting a new home loan, a letter from the present lender stating amount owing and proof of past repayments.

Photocopy of the front page of the contract of sale, if you have already decided on a property

If you need any information about credit, call: Consumer Affairs Victoria on 1300 55 8181 or Credit Helpline on 9602 3800 (country callers 1800 80 3800).

- Consumer Affairs Victoria