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- 1.Introduction
- 2.Borrowers
- 3.Loan Purpose
- 4.Identifying Borrowers
- 5.Loan Amount rules
- 6.Maximum Loan to Value Ratio (LVR)
- 7.Cash out limits
- 8.Documentary Requirements by Purpose/Product
- 9.Credit Impairment
- 10.Credit (CRA Report) Events
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- 11. Employment and Income
- (a)PAYG: Full Time
- (b)PAYG: Part-Time
- (c)PAYG: Contract
- (d)PAYG: Casual
- (e)PAYG: Overtime & Shift Allowance
- (f)PAYG: Bonuses/Commissions
- (g)PAYG: Parental Leave (maternity leave)
- (h)PAYG: Payslip Deductions & Non-shift allowances
- (i)Self-Employed: Fully Verified
- (j)Self-Employed: Alt
- (k)Self-Employed: Alternative Documentation – BAS
- (l)Self-Employed: Alternative Documentation – Business Bank Statements
- (m)Other Income: Rental
- (n)Other Income: Pensions and Government Benefits
- (o)Other Income: Superannuation
- (p)Other Income: Child Maintenance
- (q)Other Income: Income Protection and Workers Compensation
- (r)Other Income: Austudy
- (s)Other Income: Scholarship
- (t)Other Income: Foster Carer
- (u)Other Income: Seasonal
- (v)Income: Add Backs – Depreciation & Interest
- (w)Other Income: Directors Fees
- (x)Other Income: Trust Distributions
- (y)Unacceptable Income
- 12.Serviceability
- 13.Securities and Valuations
- 14.Valuation Criteria
- 15.Approvals, Declines or Withdrawals
- 16.Exit Strategy
- 17.Independent Legal Advice (ILA)
- 18.Variations and Increases
- Contact Your BDM
- Apply Online
1. Introduction
Purpose
This document outlines the acceptable parameters by which Bluestone assesses residential lending applications.
Application/Usage
This policy applies to all Bluestone employees in the assessment of home loans sourced via both the Broker and Direct channels.
Confidentiality
This document is confidential and should not be shared. Only the Bluestone Head of Lending can approve the release of this document to third parties.