This loan is designed for those clients who do not meet traditional LMI requirements.
Generally a reasonable credit history is required and can assist borrowers with unusual
deposit sources, unusual income, instability or employment or residence.
Applicant type
Individuals, Companies, Trusts.
Employment requirements
If Self-employed, no minimum period Judged case
by case. P.A.Y.G is also o.k.
Income: required proofs
If self-employed less than 12 months, then case by case.
Loan amounts minimum & maximum
$30k to $2 mil
Purpose
Owner-Occupied, or Investment
LVR
95% If P.A.Y.G for min 3 months then 100% LVR
Coded, non-coded, or either
Either
Credit related issues
Mortgage arrears, if current, can be one month. If
past, can be 2 months. Any paid default must be older than 3 months
Variable, fixed or both
Variable only
P&I, I/O, or both
Both
Residency Status
Citizens and permanent residents
Comments, special conditions
Can be for: Self-employed, No financials, No age
limits, Non-genuine savings
