Resi Select latest news: HEM & Manual Serviceability Calculator Changes

23rd Nov, 2023 | Broker News, Select Product

Important changes to how we assess serviceability

We’re making some important changes to ensure we continue to lend responsibly and meet our regulatory obligations.

Effective Friday 24 November 2023, we’ll be updating our Household Expenditure Measure (HEM) to reflect the increase in household expenses. We’ll also be updating our Decision Tool, lodgement systems and Serviceability Calculator to reflect these changes.

The new version of the Advantedge Serviceability Calculator (v49), will be available to use from 24 November 2023. We’ll also ensure that it is updated on the Broker Portal prior to this date.

Pipeline treatment

For any new lending requests submitted after 12:00am on Friday 24 November 2023, please use v49 of the Serviceability Calculator. 

For applications submitted prior to 12:00am on Friday the 24 November 2023, please refer to our pipeline treatment information. 

Further support

Contact your case manager for specific application queries or speak to your Resi Business Development Manager. 

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