Centrelink payments play a critical role in supporting many Australians, providing financial assistance to families, carers, individuals with disabilities, and those temporarily unable to work. When received under a PAYG structure, these government-issued payments can form part of a borrower’s income assessment for home loan eligibility.
Benefits to Borrowers
Creates access to homeownership for those relying on stable, ongoing government support
Enables inclusion of Family Tax Benefit, Parenting Payment, or Disability Support Pension in serviceability assessments
Supports borrowers in unique life circumstances, such as single parents or carers
Benefits to Mortgage Brokers
Expands the broker’s client base by assisting underserved or overlooked segments
Provides opportunities to match clients with flexible non-bank lending solutions
Enhances broker value by offering tailored solutions where traditional banks may fall short
Features
- Centrelink PAYG income accepted under Mortgage Street’s Premium, Optimax, Tolerant, Progressive, Receptive, and Liberal products
- Requires documentation such as Centrelink income statements and proof of regularity
- Can be combined with employment, superannuation, or other income types for stronger loan applications
Who Can Benefit
- Borrowers receiving consistent Family Tax Benefit A & B
- Applicants supported by Carer Payments, Parenting Payments, or Disability Support Pension
- Clients with a history of reliable Centrelink income who meet verification requirements
Mortgage brokers should partner with Mortgage Street to access a suite of flexible, client-focused lending solutions specifically designed to accommodate PAYG income from Centrelink payments. With a product range that recognises the stability of government support, brokers can confidently assist clients who may not meet traditional lending criteria.
As Australia’s premier alternative lending solution, our mission is to empower our brokers to achieve their goals
Our goal at Mortgage Street is to provide you your customers with first-class service and innovative products to help you deliver solutions to your clients who don’t fit traditional lending criteria. But if your clients don’t qualify for a bank loan, Mortgage Street can always find alternatives. With 24 mortgage options available, we can help your customers find the right fit for their unique situation.
7 reasons why you should work with Mortgage Street
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
A Mortgage Street accredited mortgage broker can help you to maximise your borrowing capacity by advising on the best loan structure and providing guidance on how to strengthen your application. This can be helpful if you have a complex financial situation or are self-employed.
If you are planning to purchase an investment property, a Mortgage Street accredited mortgage broker can help you understand the tax implications of negative gearing and advise on the best home loan options to suit your goals.
A Mortgage Street accredited Mortgage brokers have access to a wide range of lenders, including those that may consider larger loan amounts. This can be especially useful if you are looking to purchase a more expensive property or undertake extensive renovations.
Many lenders require mortgage insurance for home loans with a loan-to-value ratio (LVR) of over 80%. By working with a Mortgage Street accredited mortgage broker, you may access lenders that do not require mortgage insurance up to an LVR of 85%, saving you money on your loan.
To help you find what you’re looking for, we’ve grouped our lending criteria into key categories.
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Mortgage Street focuses on what you and your customer needs.Submit a scenario now and we’ll help you every step of the way
Helpful guides & forms
- MSt 001 Customer Information Collection
- MSt 002 Payroll Authority form
- MSt 003 Loan Scenario form
- MSt 007 Applicant details verification
- MSt 011 Lo-Doc Declaration Accountants Verification
- MSt 012 Full Partial Discharge Authority
- MSt 013 Rate Review Form
- MSt 014 Gift Declaration Form
- MSt 015 Direct Debit Request
- MSt 028 Buying Your First House
- MSt 063 Bespoke broker premium
- MSt 067 Everyday transaction account
- Loan Application Documentation Checklist
- MSt 134 Request for Hardship Assistance
Don’t let your unique situation hold you back, explore the all mortgage options offered by Mortgage Street.
Good Borrowers
Specialist loan
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FAQ
Can Centrelink payments be used as income for a home loan application?
Yes, some lenders in Australia like Mortgage Street accept certain Centrelink payments as part of the borrower’s income when assessing a home loan application. However, the extent to which these payments are considered varies among lenders. While some may accept Centrelink payments as a primary income source, others may only consider them supplementary to employment income.
Which Centrelink payments are commonly accepted by Mortgage Street?
Mortgage Street typically accept the following Centrelink payments:
- Family Tax Benefit Parts A and B
- Parenting Payment (Partnered)
- Disability Support Pension
- Carer Payment
- Age Pension
Are there Centrelink payments that Mortgage Street generally do not accept?
Yes, certain Centrelink payments are typically not accepted by Mortgage Street as income for home loan applications. These include:
- JobSeeker Payment
- Youth Allowance
- Austudy
- Abstudy
- Carer Allowance (as opposed to Carer Payment)
These payments are often considered temporary or supplementary and may not demonstrate long-term financial stability to Mortgage Street.
What strategies can improve the chances of loan approval for Centrelink recipients?
To enhance loan approval prospects:
- Maintain a good credit history: Ensure timely payments on existing debts and avoid defaults.
- Save for a larger deposit: A higher deposit can reduce the loan-to-value ratio (LVR), making the application more attractive to lenders.
- Reduce existing debts: Lowering outstanding debts can improve the borrowers debt-to-income ratio.
- Provide comprehensive documentation: Accurate and complete information can expedite the assessment process.
How does receiving FTB impact the borrowing capacity of an applicant?
Mortgage brokers play a vital role in helping clients access flexible lending options through Mortgage Street by:
- Matching clients with suitable Mortgage Street products: Brokers can guide clients to product ranges such as Premium, Optimax, Tolerant, Progressive, Receptive, and Liberal which accommodate PAYG Centrelink income.
- Interpreting Mortgage Street’s lending criteria: With a clear understanding of Mortgage Street's requirements, brokers can help clients prepare strong applications that meet policy guidelines.
- Preparing documentation: Brokers assist in gathering and organising required documents to support the application.
- Providing personalised advice:They offer tailored guidance based on individual financial situations.
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Frequently Asked Mortgage Product Questions
Key points
+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.
*Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Loan applications, refinances and balloon amounts are subject to credit assessment.
Conditions, credit criteria, fees and charges apply. Based on Mortgage Street’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.