Equity Release Document Checklist
Equity release files need the same documents as a standard refinance plus clear evidence of the purpose for the cash out. Lenders assess the purpose against their policy so getting this right upfront prevents queries at credit.
Documents to collect
Current home loan statement
Extract balance, rate, repayment type, offset, and redraw. Calculate the available equity based on a conservative property value.
Read the full guide →Evidence of purpose for the cash out
Renovation quotes, investment strategy documents, or invoices depending on the stated purpose.
Income documents (payslips, tax returns as applicable)
Verify current income to support the increased loan amount.
Read the full guide →Three months of bank statements
Match salary credits and check for conduct issues.
Read the full guide →Credit report
Review all accounts and check for new liabilities since the original loan.
Read the full guide →Tips
- ✓The purpose of the cash out must be clearly stated and supported by evidence
- ✓Some lenders restrict equity release to specific purposes such as renovations or investment
- ✓Check whether the increased LVR triggers LMI before quoting the available cash out amount
How QualifyMate helps
QualifyMate reads existing home loan statements alongside income and liability documents, giving brokers a clear view of the current position before modelling the equity release scenario.
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