Centrelink Home Loans
Home Loans For Centrelink Customers
Most mainstream lenders will require that Centrelink Home Loans applicants are at least 18 years old, is an Australian resident (by birth or registration) and have at least $24-25,000 in income each year.
Taking out these types of loans shouldn’t affect an individual’s ability to remain on welfare, as long as the loan being applied for also meets the government’s predefined criteria. On the other hand, instant cash is an option that is typically only available to Centrelink customers – namely those that receive welfare and other forms of financial support from the government.
Rather than approaching a lender, the Australian Government can help to provide instant cash in the form of an advanced payment that is calculated against the welfare than an individual might receive. As mentioned briefly above, the amount that can be received does have a cap of roughly $1,000, but as the cash is termed as an advanced payment and not a type of loan, it can be received without any interest accruing; allowing the recipient to simply pay off what they have received as their welfare comes in. Knowing how much you can borrow is the key.