FAQs
I want to buy

Ready to make a smart money move? Apply now.

At Nano, we can lend up to 80% of the property value, this is called the Loan-to-Value ratio (LVR). You need a minimum deposit of 20%, and don’t forget about other government charges like stamp duty.

Currently, Nano has a minimum loan amount of $100,000 and a maximum loan amount of $2,500,000, as well as a maximum total customer loan limit of $5,000,000. However, the total amount you can borrow will vary depending on your personal financial situation. You can calculate how much you can borrow using our Borrowing Power Calculator.

Stamp duty is a tax that state and territory governments in Australia charge for certain documents and transactions, including for transfers of property. The amount of stamp duty you’ll need to pay depends on the property price, location, if you’re a first home buyer and other factors. In some circumstances, you may be able to get a concession or exemption from paying stamp duty. Each state or territory treats stamp duty differently and the rules will change from time to time, so be sure to check the website for your state or territory rules that apply to your situation. You can also find out the estimated stamp duty costs and other home loan upfront costs by using our Stamp Duty Calculator.

Unfortunately, if you are a first-time home buyer we don’t support you just yet. We will be opening up to first home buyers sometime in the near future.

We currently only lend for existing or newly built residential properties. We do not lend for:

  • Off the plan properties or house and land packages
  • Vacant land
  • Rural Properties greater than 2 hectares (20,000 sq m)
  • Construction and structural property renovations
  • Property development
  • Non-residential, business or commercial use
  • Debt consolidation of short-term credit contracts
  • Funds being used to create any additional financial liabilities (other than when limit increase (equity release) is used to create equity contribution or pay deposit for purchase and settlement of additional property financed by Nano), or
  • Margin lending for shares.

No, not yet. But keep a look out, as this feature will be coming soon.

No, given we do not offer loans over 80% LVR, we do not require Lenders Mortgage Insurance.

Some lenders offer a “pre-approval”, which is essentially an estimate of the amount you could be eligible to borrow without having to complete a full home loan application. Because other lenders often have a cumbersome and lengthy application process, a pre-approval is necessary, as the real process can take weeks. However, the downside of not going through a full assessment of your personal information such as your income, expenses and liabilities, is that the pre-approval will only be an estimate, and you could risk being declined for the loan after you have already agreed to purchase the property.

At Nano, thanks to our seamless digital, data-driven application process, you can be approved in minutes, not weeks! All you need is an idea of the property you are interested in purchasing, a little bit of information about yourself, and Nano may provide a fully approved* loan so you can bid or negotiate prices with confidence.

If you are earlier in the buying journey and are still researching properties, you can use our Borrowing Power Calculator to get an estimate of how much you might be able to borrow with Nano.

* Please note that a loan that is fully approved is not an offer to make a loan and Nano may decline to make a loan in certain circumstances including for example, the information provided is incorrect or we may identify other information in relation to the property or title which makes it ineligible for a home loan. Carefully read the loan contract setting out the terms of the loan.

At Nano, you can be fully approved* in minutes (not weeks!), thanks to our market-leading digital application and decision-making process.

There are some instances, however, where you may be conditionally approved if additional steps are required before progressing to a full approval, such as organising a valuation or finalising the identification check.

* Please note that a loan that is fully approved is not an offer to make a loan and Nano may decline to make a loan in certain circumstances including for example, the information provided is incorrect or we may identify other information in relation to the property or title which makes it ineligible for a home loan. Carefully read the loan contract setting out the terms of the loan.

To best assess you and the property you are interested in, we’ll need to have an address so we can give you a fast decision, allowing you to make an offer or bid at auction with confidence and take the stress out of the buying process.

You can use our Borrowing Power Calculator to get started. And with Nano, our fast approval means you may get fully approved* in minutes not weeks so you can bid, offer and buy with confidence for when you are ready.

* Please note that a loan that is fully approved is not an offer to make a loan and Nano may decline to make a loan in certain circumstances including for example, the information provided is incorrect or we may identify other information in relation to the property or title which makes it ineligible for a home loan. Carefully read the loan contract setting out the terms of the loan.

Buying at auction is very different to buying via private treaty. If you are the successful bidder at the auction you need to exchange contracts “on the fall of the hammer” so therefore you do need to have a good level of confidence that you can complete the transaction. It is best to apply before the auction so you can bid with confidence if fully approved*.

When applying, tell us the maximum price you’re willing to spend at auction. Remember you’ll need 20% deposit (LVR 80%), and don’t forget about other costs like stamp duty. As part of your application, you will need to complete your online identity check, obtain a copy of the contract of sale from the realtor, upload it to Nano, and provide us with your conveyancer details.

When you’re at the auction, remember to bid with your head and not your heart. Allow some buffer in your financial position should the third-party property valuation come in under the purchase price (as we’ll only lend up to 80% of the property value). If you win (and we hope you do!) you will need to provide your deposit and sign the contract of sale at the auction.

After you win at auction, to finalise your Nano loan you’ll need to log back into your application & confirm your sale price with us. Then we can formalise the unconditional approval and issue the loan contract.

Learn more about how we take the stress out of the settlement process.

* Please note that a loan that is fully approved is not an offer to make a loan and Nano may decline to make a loan in certain circumstances including for example, the information provided is incorrect or we may identify other information in relation to the property or title which makes it ineligible for a home loan. Carefully read the loan contract setting out the terms of the loan.

That’s a shame! But the good news is that once you find your next dream property, you can update your property address and we can reassess your application and give you an answer in minutes, not weeks, with minimal fuss or hassle.

To switch your property address, please reach our customer support team, who will be able to help.

Call: 13 NANO (13 6266)
Email: [email protected]

After you have been fully approved* and the loan contract has been signed, it’s time to book settlement. This is when you pay the rest of the sale price and become the legal owner of the property. The process varies from state to state, but a typical property settlement usually takes place around four to six weeks after contracts are exchanged (but can be longer or shorter).

We’ll make sure to stay in touch and clearly communicate with you throughout the process, keeping you updated with progress and next steps, right through to you becoming a Nano customer and official owner of that dream property.

Learn more about how we take the stress out of the settlement process.

* Please note that a loan that is fully approved is not an offer to make a loan and Nano may decline to make a loan in certain circumstances including for example, the information provided is incorrect or we may identify other information in relation to the property or title which makes it ineligible for a home loan. Carefully read the loan contract setting out the terms of the loan.

Besides having at least a 20% deposit required for a home loan to purchase a property with Nano, there are a number of other upfront costs outside of Nano’s control that may be required, including government fees and charges such as stamp duty, legal / conveyancer fees, or costs for organising building and pest inspections. These costs could vary by the price, location and type of the property.

You can see an estimate of these upfront costs by using our Stamp Duty Calculator.

Be sure you request the right loan amount upfront in the application process to make sure you have sufficient funds to complete the property purchase.

Still have questions?

Can’t find the answer you’re looking for? Please chat with our friendly team.