Introduction of a 95% Option for Prime Full Doc Investment and Interest Only
We are now offering a 95% LVR option for Prime Full Doc investment and interest-only loans. Paired with Monthly LMI, this is a compelling option for those looking to enter the market through an investment purchase.
Introduction of an 85% LVR Option for Prime Alt Doc
A new 85% LVR option is now available for Prime Alt Doc loans.
Enhanced Near Prime Full Doc Options
Near Prime Full Doc loans are now available up to 85% LVR with both P&I and Interest Only options in all acceptable locations for RWF. For LVRs between 85% and 90%, P&I repayments are required and are available in metro locations only.
New Rate Card Issued
A new rate card has been released, covering all the new price points and including some minor rate adjustments across the range.
Unlimited Debt Consolidation under Prime Product Ranges
We can now consolidate an unlimited number of debts under our Prime product ranges, provided accounts have been satisfactorily conducted as evidenced by CCR or statements.
Adjustments to Adverse Credit History Thresholds Prime:
Prime:
Up to 2 paid defaults with an aggregate value of less than $1,000 are now permitted as long as they are paid (previously required a minimum of 6 months paid).
Near Prime:
The default size threshold has been increased from $2,000 per default to $3,000. For full details, please refer to the Quick Reference Guide.
Non-Permanent-Resident Co-Borrowers Now Accepted
Non-permanent-resident co-borrowers are now accepted across the entire product range, subject to a maximum LVR of 80%. Please refer to the Quick Reference Guide for acceptable visa types.
Updated Employment Criteria for Prime PAYG
For Prime, PAYG employment can now be as little as 3 months with the current employer, or 12 months continuous in the same industry. Probation is accepted subject to 12 months in the same industry. There are no minimums for other product options, subject to verification of stable and ongoing employment.
