Broker quick reference guide    

• Sole traders – two years’ personal tax returns
• All self-employed applicants, including partnerships, companies and trusts – two years’ NOA for each individual involved in the application, and most recent accountant prepared financial statements showing the last two consecutive years’ profit and loss statements.
   

Applicants must be employed for a minimum of six months with their current employer.

Probationary period accepted up to 80% (no LMI).

• Applicants from the health care and emergency services industry – 100% usage
• All other industries – 80% usage.

• Overtime income – 80% usage
• Bonus income – 80% usage (lower of the last two years)
• Commission income – 80% usage.

• 5% genuine savings required to be held over three months where LVR is >90%
• Max LVR 90% where no genuine savings held.

• Owner occupied purchases to 95% LVR + LMI capitalised, max 98%
  
• Investors - max 90% LVR incl. LMI.
   

• Owner occupiers with interest only repayments – max 80% LVR incl. LMI capitalised
• Investors with interest only repayments – max 90% LVR incl. LMI capitalised.

80% LVR or below and amount $1m or below, only commentary required.

• Owner occupier refinances – max 90% LVR + LMI
• Investor refinances – max 90% LVR incl. LMI.

Residential units are units or flats in a development that has ≤5 floors, or ≤50 accommodation units.

• Units must have an area ≥40sqm (based solely on the living area) and at least one separate bedroom
• Owner occupiers with P&I repayments - 80% LVR, or up to 95% LVR with LMI approval (98% max)
• Investors – 80% LVR, or up to 90% LVR incl. LMI
• Excludes units within high density developments or off the plan – different max LVRs will apply. Please refer to your BDM
• OFF THE PLAN - applications within six months of settlement can be assessed and progress to unconditional approval.
  

High density units are units or flats in a development that has ≥6 floors, or >50 accommodation units.

• Units must have an area ≥40sqm (based solely on the living area) and at least one separate bedroom
• Differing max LVRs apply - high density units will be considered up to a max LVR of 80% in metropolitan locations. With LMI approval, P&I OO applications up to 90% LVR (93% with LMI capped) and 90% LVR incl. LMI for investment.

• Units must have an area of ≥40sqm (based solely on the living area) and at least one separate bedroom
• Differing max LVRs apply. Max LVR 70% for Sydney and Perth metropolitan locations. Max LVR 60% for other metropolitan locations.

High density units are units or flats in a development that has ≥6 floors, or >50 accommodation units.

• Units must have an area ≥40sqm (based solely on the living area) and at least one separate bedroom
• Max LVR 70% in selected Sydney and Perth locations. Max LVR 60% for other selected locations. Please contact your BDM for further information
• Applications within six months of settlement can be assessed and progress to unconditional approval.

• No loading on construction rates
• Min level of fit out required for owner occupied and residential dwellings is completion of the driveway to the council crossover and boundary fencing. We’ll accept and rely on quotes.
• Construction of multiple (up to four) residential dwellings on one title. Max LVR 80% subject to a copy of the council approved plan of subdivision, which must be submitted with the application.