Like all home loan lenders in Australia, there are a few criteria we have for our borrowers.

Unloan Lending Team


Your Identity

All applicants must be over the age of 18.
If you’re under 18 and have enough for a house deposit… WOW. Congratulations! Unfortunately, Unloan can’t help you at the moment.

You hold an eligible form of identification.
All applicants must have a valid Australian state/territory Driver Licence or an Australian Passport.

All borrowers live in Australia.
Every applicant must have an Australian residential address.

Your Credit Check

All borrowers on the loan application have a credit history that meets Unloan’s policies.
If there are issues with your credit history it can make the application much easier if any problems are fixed before applying. You can check your credit rating and the accuracy of information held on you by credit reporting bodies through organisations such as Equifax, Dun & Bradstreet (Illion) or Credit Savvy1

Your Income

You receive regular income and are able to provide acceptable documents to verify your income e.g. payslips, banks statements.
Visit our income verification page to find out more. Don’t worry if you don’t have all documentation right now – you can start an application and provide these later.

Your Property

You’re refinancing an existing home loan.
Right now, Unloan can only provide refinances. Loans for home purchases are coming very soon.

Unloan isn’t planning on providing construction loans for the time being.

The loan will be for 80% or less of the value of the property and is between $10,000 and $3,000,000.
For refinances, this means there must be at least 20% equity in the property. If a 20% (or more) deposit was paid a few years ago, there’s a good chance it won’t be a problem, even if it’s been on an interest only loan since then.

Other Considerations

You have enough to cover any upfront costs associated with the loan.

For refinances, these costs are usually quite small, but there can be some surprises. State Governments will charge up to a few hundred dollars as ‘mortgage registration fee’. There can be exit fees on some home loans too, even though Unloan doesn’t have these.

If you are currently on a fixed rate loan you should consider any ‘break fees’ your current lender may charge.

A variable rate, principal & interest loan is suitable for your needs.

Full details of Unloan home loans can be found on the Home Loan details page or through the Target Market Determination.

Important information:

Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking financial advice before making any decision based on this information.

1CreditSavvy is a trademark of CBA New Digital Businesses Pty Ltd ABN 38 633 072 830 and Australian Credit Licence 516487. CBA New Digital Businesses Pty Ltd is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124