Read through our FAQs to find out more about Aussie Edge
Applying for a loan
What is Aussie Online?
Aussie Online is our easy, convenient way to get your home loan approval online in as little as 30 minutes. To do so, you will need to meet the eligibility criteria and have all your information handy.
Aussie Edge is our home loan product, funded by Bendigo and Adelaide Bank, and is exclusively available through Aussie Online. Check if you’re eligible for an Aussie Edge home loan.
Discover more about Aussie Online, including information about who we are, how we provide credit assistance and how you can get in touch if you experience any issues.
What does the application process look like?
Our Aussie Online application is completed in a few steps:
Your property details – what’s the address and how much are you looking to borrow?
Your loan – what kind of loan might work for you, based on your needs.
Your details – we’ll check your ID and make sure you’re a resident or citizen.
Your financials – we'll check your current financial situation, to make sure we meet responsible lending requirements.
Decision time! You may get a decision on the spot, or if we need to check your application, one of our credit assessors will be in touch.
Verifying your financials
To help us verify this, you’ll need to provide us with access to your financial statements, which you can do quickly by linking your bank accounts, or by manually uploading documents yourself.
If your application is successful, we’ll send you your loan documentation to complete and send back. Once that’s done, we can get you settled into your new home loan.
If you find you’re unable to proceed during the application process - perhaps Aussie Edge isn’t the right product for you or you decide you’d like someone to talk you through more options - we’ll help you to get in touch with an Aussie Broker.
An Aussie Broker will speak to you about your financial circumstances and work to find a solution that fits your needs from our panel of more than 20 lenders^.
The best part is an Aussie Broker will have access to most of the information you’ve already submitted, so you won’t need to start from scratch.
What home loan options can I get with Aussie Edge?
You can access:
Fixed or variable rates
Owner occupier or investment loans
Principal and interest or interest only repayments
Borrow between $10,000 to $2,000,000
You can access a linked offset account for both variable and fixed rate loans for $10 a month.
Can I get a pre-approval?
Unlike other lenders, we ask for the details of the property you are wanting to purchase in order to offer full approval.
As you enter the property details, this triggers the automated property valuation (AVM) and, if it is accepted, we can proceed to approve the loan.
In cases where the property valuation cannot be done via an AVM, we require a signed purchase contract to complete the valuation. This means we can get your application as far as possible but would need to wait for the signed contract before providing you with formal approval.
If you’re planning to bid for a property at auction and don’t have a purchase contract, that’s ok - just use the address of the property you’re planning to bid for.
I’m self-employed, can I apply for an Aussie Edge home loan?
If you’ve been self-employed for at least two years and have a good credit history, you’re eligible to apply for an Aussie Edge home loan.
You’ll need to be able to demonstrate your income through tax returns or financial statements.
What fees are associated with an Aussie Edge home loan?
We don’t charge you to apply for an Aussie Edge home loan.
Once you’re approved, a $330 documentation fee will apply to prepare and process all the requirements for settlement.
An offset account is like a savings account that’s linked to your home loan which offsets the balance of your home loan, so you only pay interest on the home loan balance minus the amount in your offset account.
If you have a decent balance in your offset account, you could save thousands of dollars in interest over the life of your loan.
We offer 100% offset accounts for $10 per month with all our Aussie Edge home loans, including our fixed rate loans.
An offset account has most of the features of a normal transactional savings account. You can deposit money into it and withdraw from it any time to pay bills or for day-to-day expenses using your Aussie-branded Visa Debit card.
How and when will my credit history be affected when I submit the application?
Having multiple credit enquiries on your file can impact your score negatively, because it can look suss if you're shopping around for lots of different loans. However, if your approvals have been given the green light and are recorded on your file, lenders are typically satisfied with your credit standing.
If you're interested in learning more about how credit reporting works or to check your credit score, you can visit the Equifax Australia website www.mycreditfile.com.au
How does Aussie Online work out my household expenditure?
First, we’ll ask you some questions about how much you think your monthly expenses are.
Then, when you link your accounts or upload your financial statements, we'll validate your stated expenses by comparing them to what's coming in and out of your accounts.
If you're a low spender, it’s an industry standard practice to use an Australian average expenditure benchmark called the Household Expenditure Measure (HEM) as a baseline for what your household would typically spend.
Do my co-borrower and I both need to be listed on the purchase contract and certificate of title?
Yes, all borrowers listed on the loan must receive a substantial benefit from the loan for home loan approval according to the Banking Code of Practice.
A substantial benefit means receiving a reasonably proportionate legal or equitable interest in any assets purchased with the loaned funds or using a reasonable portion of the loaned funds to repay debts or other obligations owed by you.
I’ve completed the application process. What happens next?
If you've completed the application process, you will either be:
Instantly approved (yay!)
Referred to an assessor for further information
Referred to an Aussie Broker for further home loan help.
If you’re approved to buy a property, you’ll typically be fully approved to purchase the named property up to a certain amount.
Once you have the purchase contract (what you sign to buy the house), we'll need a copy to confirm the property purchase and price.
There are some instances where we may not be able to give you full approval before we receive the purchase contract, but we'll let you know what’s required to keep you moving.
Once you receive approval (for refinance or purchase), you'll receive an email from us with next steps along with your home loan documents. You will need to carefully review and complete as detailed in your pack.
Still have questions about what happens after approval? Check out our settlement FAQs.
If an assessor needs to get in touch with you once you’ve submitted your application, it may mean we need some extra detail or to clarify something in your application before we can make a final decision on your home loan.
If you’re referred to an Aussie Broker for further home loan help, it means that we’re unable to provide you with a home loan through Aussie Edge.
This could be to do with your property, credit history or financial information not meeting our lending requirements.
If this is the case, your application details will be automatically sent through to an Aussie Broker who can pick up your application information and help to find you a loan that’s right for you.
Aussie Brokers are experts in finding home loan solutions and have access to over 3,000 home loan products from our panel of more than 20 lenders^.
How is my data kept secure?
Is entering my online banking details safe?
Your banking login details are requested so we can view read-only copies of your transaction history, direct from your banking sites.
It’s impossible for us to transfer, move or do anything else with your bank accounts aside from receiving a copy of your transactions and loan statuses. We only see the information we need to approve your loan application – the same information you would supply us if you were submitting the documents manually (once you find them, print them, scan them, email them). It’s just much faster this way.
We think our way of digitally validating your financials is far safer than sending financial statements via email.
When you enter your online banking details, no human will ever see your credentials. Your password isn’t retained. It’s encrypted and hashed all the way back through the hardware.
Your data is secured by our world-leading encrypted technology partner, Envestnet Yodlee (Yodlee). We chose them because they’re the best in the business, and they’ve been at the forefront of financial technology security for over 20 years.
We know it sounds odd asking for your banking login details, but rest assured that nobody (not even Yodlee) sees them. As soon as your details have been entered and validated in the approval stage of your home loan application, they are encrypted, separated, and securely stored. After 50 days they are deleted, never to be seen again.
Don't want to enter your bank details? That's okay too. You can simply upload copies of your transaction statements and any other documents we may need to verify your financial position (check our manual validation checklist). Just be aware that this will mean an assessor will be required to review them, so the application process will take a little longer.
Existing Aussie Edge customers
How do I access online banking?
Once your home loan is finalised, you’ll receive a welcome call within 48 hours to check that everything is set up correctly and to ensure you can access online banking to manage your home loan.
You can use online banking to:
Manage your accounts and check your transaction history
Make payments and transfer funds via AnyPay or BPAY®
Transfer funds to bank accounts within Australia and overseas
Schedule future or recurring payments
Access to the Secure Mail service allowing you to send and receive secure emails to and from the bank
View interest and tax information - handy at tax time
Report a lost or damaged debit card.
Who can I contact for assistance with my existing Aussie Edge home loan?
If you need help or would like to make a change to your loan, you can get in touch with us by phone or email.
Call 1300 372 265 Monday to Friday between 8:00am – 8:00pm CST, Saturday, Sunday and public holidays between 9:00am – 4:00pm CST. Excludes Christmas Day, Good Friday and Easter Sunday.