housing.vic.gov.au Apply for Bond Loan Scheme Australia : Department of Health & Human Services

Name of the Organization : Department of Health & Human Services – State Government of Victoria
Type of Facility : Apply for Bond Loan Scheme
State : Victoria
Country : Australia

Website : http://www.housing.vic.gov.au/bond-loan-scheme
Application Form : https://www.statusin.org/uploads/25008-Application.pdf

Bond Loan Scheme :

** If you want to rent privately, most landlords will ask you to pay a bond before you move in.
** A bond is a security deposit in case you damage the property. The bond money is held by the Residential Tenancies Bond Authority (link is external).

Related : Get a Certificate of Roadworthiness Victoria : www.statusin.org/7208.html

** It is returned in full at the end of your lease, unless the landlord is eligible to claim for damages or unpaid rent.
** The full bond loan amount must be paid back at the end of your tenancy.
** Even if your landlord keeps some of the bond because of damages, you must still repay the full amount of the loan.
** The loans are for bonds only and cannot be used for rent in advance or moving costs.
** If you need help with these costs, see if you are eligible for help from the Housing Establishment Fund.

You are eligible for a bond loan if :
** You meet the bond loan income and asset eligibility limits
** You are a permanent Australian resident
** Your share of the rent is less than 55 per cent of your gross (before tax) weekly income
** You do not own or part-own a house, flat or unit
** You have repaid any previous bond loans
** You do not owe any money on previous or current public housing tenancies.
** There are exemptions to some of these rules.
** Contact your local office (link is external) for more information.
** To find out what housing options and help you may be eligible for, use our housing options finder.

How much can I borrow on a bond loan?
** It depends on the number of bedrooms in the property and the number of people who will live there.
** In some cases, a study or separate dining room can count as a bedroom.
** We work out your share by dividing the bond amount by the number of people living in the house that pay rent.
** For example, if four people are renting a four-bedroom house with a $1,000 bond, your share of the bond loan would be $250.

When should I apply?
** Apply after your landlord or estate agent has approved your application to rent a particular property.
** You cannot apply before.

How do I apply?
** Apply at your local Department of Health and Human Services office.
** You can apply by yourself, as a couple or as part of a shared household.
** Only one bond loan application form is needed for a property.
** Each member of your household applying for the bond loan must agree to repay the loan and take part in any legal proceedings about returning the bond money.

1. Fill in a bond loan application form :
** Bond loan application
** Accessible version of the bond loan application
2. Take your Bond loan application to your landlord or agent
** They must fill in the section in the application about the property you will rent
** If your landlord does not use a real estate agent, they must also confirm they own the property or give us permission to check this with the local council

3. If more than three household members are applying, fill in an Additional Bond Loan Applicants form (.doc) as well
4. Put together the documents we have asked for on the form
5. Send or give the forms to your local office (link is external).

Income and assets :
** Each applicant’s income and assets must be within the income and assets limits to be eligible for a bond loan.
** If you or an applicant receive any income from Centrelink, you can give us permission to check your information using Centrelink Confirmation eServices (link is external).
** The permission form for this is in the bond loan form.
** If you use this service, you will only need to give us documents about any property assets that you own or part-own.

If you don’t use the Centrelink service, we need one of these documents as proof of each applicant’s income:
** A letter (that is less than two weeks old) from Centrelink or the Department of Veterans’ Affairs
** A wage statement from your employer
** A 13-week profit and loss statement (if you are self-employed).
** You must also give us documents about assets that each applicant owns.

Proof of identity and residency :
** You must give us documents that prove each applicant’s identity.

This can be either :
** One form of photo identification that has a signature (like a passport or driver’s licence) (or)
** Two other identity documents (like a Medicare card, health care card or birth certificate).
** You must also give us proof of residency status for each household member not born in Australia.

This can be :
** A Certificate of Australian citizenship
** Visa
** Passport (or)
** A letter from the Department of Immigration and Border Protection.

How do I repay the loan?
** At the end of your tenancy, your landlord or agent will apply to the Residential Tenancies Bond Authority for the bond money to be repaid to us.
** If the bond is returned in full, you won’t have anything else to pay.
** If your landlord keeps some of the bond, you will need to repay your remaining share of the loan.
** Contact your local office (link is external) (the office you received the bond loan from).
** They can confirm the amount you owe and give you a bond loan voucher that you will need to repay the loan.