Home Loans

Who qualifies for Fast Track assessment?

Fast Track means we can assess your home loan application without having to see your business financials. 

You’ll enjoy the same approval time and experience as our salary-earning customers, even if you earn other forms of income, or you're applying with someone else. In fact, the other borrower can be self-employed too.

To qualify for Fast Track, you need to:

• Provide personal ATO Notices of Assessment for the last two years
• Not depend on other income source to afford the home loan repayments, other than income shown in the Notices of Assessment
• Have 20% of the property's value saved as a deposit
• Apply for the residential home loan in your own name, or with a joint-applicant
• Have been self-employed for at least the last two years.

Fast Track document checklist:

• Personal ATO Notices of Assessment for the last two years.

We may need to see a few more documents, but for now just provide your Notices of Assessment.

Apply online

Request a callback

Head to the Australian Taxation Office website for instructions on how to retrieve your Notices of Assessment from your MyGov inbox.

If you don’t qualify for our Fast Track assessment (see FAQ above), we’ll need more documentation that proves you’ve been operating as a viable business for the last two years.

In addition to:

• Your last two years of personal ATO Notices of Assessments;

Sole traders also need the last two years of:

• Personal Income Tax Returns. 

Business partnerships, companies and trusts also need the last two years of:

• Personal Income Tax Returns
• Partnership, Company or Trust Tax Returns 
• Financial statements (e.g. net profit and loss statements, and balance sheets).

It’s worth including proof of your business liabilities too. In some cases, we may be able to use this info as an ‘addback’. What is an addback? An amount we add to your income when we assess how much you could borrow. It can include expenses from your tax returns, like depreciation, interest, rental property expenses, asset or company car deductions, hire purchases, leases and term loans. 

To apply under our Fast Track process, your business must have been trading for a minimum of two full financial years. 

But don’t worry, we may still be able to assess your actual income and employment status using other documentation. Just begin you application online and a lender will call you back.

Apply online

Request a callback

With Fast Track (see FAQ above), we can assess your income off your last two years’ ATO Notices of Assessment.

If you can’t provide these (or provide us with other documents), you’ll go through our standard self-employed assessment process. This means you’ll need to show that your business is feasible and has a steady income.

Your assigned home finance manager will calculate how much you can borrow based on these documents.

If you're self-employed without PAYG personal tax returns, some other lenders might only be able to offer you a ‘low doc loan’ with a higher interest rate or a larger deposit requirement.

But at St.George, we don’t offer low doc loans. For example, if you’re borrowing in your own name and we're able to properly assess your taxable income, you can get the same loans, rates, features and deposit requirement as customers who aren't self-employed. Plus our Fast Track assessment option means we need to see less documentation, and therefore offer a speedy decision.

Buying a business property? Request a callback to chat through our commercial loans.

Applying for a home loan 

These four ways to apply are available: 

• Whether you qualify for Fast Track assessment or go through our standard self-employed assessment home loan process
• Whether you're applying for a new home loan, conditional approval or switching (refinancing) your home loan to St.George.

1) Apply online, and track your progress

Save, submit and track your application online – right up to settling your loan. It should only take about 20 mins to apply. Then a lender will call to answer all your questions, confirm how much we can lend you, run a credit history check and move things forward. They’ll be your one point of contact throughout.

The St.George online application process is available for all loans – except Relocation Loans and increasing your current St.George home loan.

Apply online

Retrieve your application

2) Apply by phone

Call us on 13 33 30, or request a callback, if:

• You'd rather an expert starts your application
• You’re applying for our Relocation Loan
• You want to increase your current St.George home loan.

3) Apply through your broker

They’ll take you through your St.George home loan application and answer your questions.   

4) Apply in a branch

Locate your nearest St.George and book a meeting with their home loan expert.