9. Credit Impairment

The following table demonstrates Credit Impairment attributes per product (including both full and alt doc and for personal, not commercial credit):

Prime Near-Prime Specialist Specialist+

Mortgage Conduct

No arrears greater than 14 days, no default fees /overlimit

Less than 1 months arrears evident in last 6 months

Less than 3 months arrears evident in last 6 months

Personal Loans

No arrears greater than 14 days, no default fees /overlimit

Conduct ignored subject to reasonable explanation

Conduct ignored subject to reasonable explanation

Credit Cards

No arrears greater than 14 days, no default fees or overlimit balances

Conduct ignored subject to reasonable explanation

Conduct ignored subject to reasonable explanation

Defaults/Judgements

No unpaid defaults or greater than $500. Ignored if paid up to $500

No defaults greater than $1,000.

Ignored if up to $1000 or greater than 24 months

No defaults greater than $1,000.

Ignored if up to $1000 or greater than 12 months

Max 2 >$1000 within 12 mths (ignore up to $1000 or greater than 12mths)

Discharged Bankruptcy or Part 9/10 agreements

Not accepted

Not accepted

Discharged > 2 years, is acceptable

Bankruptcy: Discharged > 2 years

Part 9/10: Discharged

Repaying Part 9 and Part 10 agreements

Not accepted

Not accepted

Not accepted

Yes - provided the loan is being paid out and 6 months clear conduct is evident

*Mortgages in advance/available redraw:  underwriters should use appropriate discretion.