Greater flexibility with recent product and policy changes

These recent product and policy changes mean brokers can provide better experiences for their clients.

Let’s explore the changes that have taken place across offset accounts, loan amounts, and LVRs.

Introduction of multiple offset accounts

Suitable for both new and existing borrowers who can add one offset account per portion in their loan account.

For new app submissions adding an offset account is an ‘opt-in’ process in ApplyOnline (AOL), as per the below.




Increase to Prime Alt Doc loan limits

An increase in maximum loan amount by $500,000 to $2,500,000 and the introduction of an additional LVR band.

• Prime Alt Doc maximum loan amounts

LVR	New Policy
Up to 65%	$2,500,000
65.01% to 75%	$2,000,000
75.01% to 80%	$1,750,000

Changes to LVRs for units and apartments

Changes have been made across the following:

Specialist Clear (Full Doc and Alt Doc) maximum LVR

• 80% where the security is a unit/apartment
• 75% where security is a new unit/apartment (defined as having been completed for less than 12 months and/or has not been sold since the construction of that property)



Specialist Plus and Assist (Full Doc and Alt Doc) maximum LVR

• 80% where the security is a unit/apartment
• 75% where security is a new unit/apartment (defined as having been completed for less than 12 months and/or has not been sold since the construction of that property)



Prime Uninsured (Full Doc and Alt Doc) maximum LVR*

• 80% where the security is a unit/apartment
• 75% where security is a new unit/apartment (defined as having been completed for less than 12 months and/or has not been sold since the construction of that property)

*If the security is in a high-density location (postcodes: 2017, 2127, 2150, 2155, 2765, 3000, 3003, 3004, 3006, 3008, 3011, 3122, 3128, 3141, 3145, 800 and part of a development comprising more than 10 apartments/units/townhouses), the following restrictions apply:

• Maximum LVR of 75%
• Valuation should include comparable sales outside the development and details of any resales within the development.
• LVR and concentration restrictions may apply to individual developments.
• 90% of gross rental accepted for servicing.
• A minimum floor size of 40 m² in the living area, excluding balconies and car space.