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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
- (g)PAYG: Commissions
- (h)PAYG: Parental Leave (maternity leave)
- (i)PAYG: Payslip Deductions & Non-shift allowances
- (j)Self-Employed: Fully Verified
- (k)Self-Employed: Alt
- (l)Self-Employed: Alternative Documentation – BAS
- (m)Self-Employed: Alternative Documentation – Business Bank Statements
- (n)Other Income: Rental
- (o)Other Income: Pensions and Government Benefits
- (p)Other Income: Superannuation
- (q)Other Income: Child Maintenance
- (r)Other Income: Income Protection and Workers Compensation
- (s)Other Income: Austudy
- (t)Other Income: Scholarship
- (u)Other Income: Foster Carer
- (v)Other Income: Seasonal
- (w)Income: Add Backs – Depreciation & Interest
- (x)Other Income: Directors Fees
- (y)Other Income: Trust Distributions
- (z)Unacceptable Income
- ()Acceptable Industry
- 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
6. Maximum Loan to Value Ratio (LVR)
The Loan to Value ratio (LVR) refers to the calculation of the loan amount as a percentage of the security value. Security value initially can be an estimate for refinances, until which point we receive a suitable valuation from an accredited panel valuer. Likewise, for a purchase, this will be the lower of the contracted purchase price or valuation.
- Max LVRs per product:
- Prime Full Syd/Melb/Brisb metro only 90% (Subject to ASL)
- Prime & Near Prime:
- 85% Metro/Metro Other
- Prime full doc only - 85% Non Metro (Subject to ASL)
- Specialist
- Max of 80% for Owner Occ (Metro) or 80% (Non Metro subject to ASL)
- Specialist+
- Max of 75% or 70% (Non Metro)
- Max LVRs per loan purpose:
- Owner occupied:
- 90% inclusive of fees (and subject to acceptable security location criteria)
- Investment:
- 80% Interest only, Prime & Near Prime
- 75% for interest only, Specialist & Specialist+(subject to Owner Occ arrears)
- 80% for P&I
- Owner occupied:
- Max LVRs as per security features:
- Residential tower blocks:
- Units in blocks of 4-10 storeys that are new developments (built within 5 years) are limited to 70% including fees.
- Residential tower blocks: