If you were injured in a car accident in Victoria, you may be entitled to compensation payments from the Transport Accident Commission (TAC).

Some lenders will consider TAC compensation as a deposit for a home loan. Discover more about TAC compensation home loans.

How much can I borrow?

  • Borrow up to 95% of the property value including the cost of Lenders Mortgage Insurance (LMI)
  • You will need to provide full details of your TAC payments.
  • 100% of income protection payments: Some banks will only accept 50% of income protection payments but some of our lenders will use 100% of your TAC benefits as your deposit (conditions apply).
  • Permanent disability: The lenders will be more likely to accept this type of income.

Please call us on 1300 889 743 or fill in our online enquiry form to discover if you qualify for a TAC compensation home loan.


How much of my road accident compensation with the bank use?

It depends on the lender, the nature of your injuries from the road accident, and what type of payments you’re receiving from the Victorian State Government.

In some cases, we may be able to use up to 100% of your TAC compensation payments if you needed to take time off work for medical reasons.

This can greatly improve your borrowing power for a home loan.

What type of traffic accident payments may I receive from the VIC government?

TAC compensation may cover:

  • Medical and health related expenses.
  • Impairment for a permanent disability/injury.
  • Weekly payments from TAC for loss of earnings benefits.

What evidence will I need to provide to the lender?

TAC is considered as non genuine savings because it isn’t funds that you’ve saved yourself with regular deposits into a savings account.

Because of this, you’ll generally need to provide the following when applying for your home loan:

  • A letter from the TAC confirming the lump sum compensation your received.
  • A employment letter confirming your job status and/or return to work date.
  • A doctor’s certificate and letter detailing your return to work date.
  • Evidence of your income prior to the injury (payslips, group certificates etc).

Please provide our mortgage brokers with as many documents as you can, we can then work out the most suitable lender and only provide the documents that add strength to your application.

Enquire online or contact us on 1300 889 743 to speak to one of our experts in TAC compensation home loans.


Want to make a TAC claim?

Once you’ve reported the accident to the police, we recommend that you firstly get proper legal advice as you may be entitled to further damages not covered by TAC.

Before you call the TAC to make a claim, it’s important to be prepared:

  • Details of the accident, your injuries and the cars involved, including registration numbers.
  • Names and details of any witnesses.
  • Names and contact details of any known witnesses
  • Names of police who attended the scene or took a report, or, if the police didn’t attend the scene, the date of your report and the detals of the officer you spoke to.
  • Your employment and income details to claim loss of earnings benefits.
  • Your bank details.

Once you’re ready, call 1300 654 329 to lodge your TAC compensation claim.

Apply for a TAC home loan

Discover which lenders will accept TAC benefits as a no genuine savings deposit.

Call us on 1300 889 743 or fill in our online enquiry form today.


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