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AMP Bank enhances rental shading policy
AMP Bank has updated its rental shading policy, increasing the amount of rental income recognised for servicing on eligible investment and SMSF lending.
- LVR of 70 per cent or less: Rental shading increased from 80 per cent to 90 per cent for standard investment lending and 95 per cent for SMSF investment lending.
- LVR of 70.01 per cent to 80 per cent: Rental shading increased from 80 per cent to 85 per cent for both standard and SMSF lending.
- The changes could improve borrowing capacity for eligible borrowers and allow brokers to revisit investment and SMSF scenarios that previously fell short on servicing.
ME Bank launches $2k cashback for LMI customers
ME Bank has introduced a $2,000 cashback offer for eligible customers taking out home loans where lenders mortgage insurance (LMI) is payable.
The offer applies to applications submitted from 18 August 2026, with customers required to settle within 120 days of application.
- Eligibility: Personal customers who are Australian residents taking out an eligible EconoME or CompleteME home loan for an owner-occupied or investment property.
- LVR: Between 80.01 per cent and 95 per cent, where LMI is payable.
- Loan size: At least $400,000 in total new lending. Multiple or split applications submitted at the same time can be aggregated to meet the threshold.
- Transaction account: At least one borrower must hold an eligible SpendME transaction account within 60 days of settlement for the cashback to be paid.
Connective Complete launches SMSF EasyRefi
Connective Complete, powered by RedZed, has launched SMSF EasyRefi, a streamlined refinance option for eligible SMSF borrowers.
The product offers rates from 6.94 per cent p.a. and allows eligible scenarios to progress without income documents, subject to eligibility and credit criteria. It also uses a streamlined documentation pack specifically for SMSF refinances.
MA Money expands lending limits across residential and specialist products
Following last week’s changes, MA Money has outlined further credit policy changes. The non-bank has expanded loan sizes and LVRs across its residential, bridging, expat, vacant land, and SMSF offerings, alongside several income verification and credit policy changes.
- Residential: Prime Full & Alt Doc loans up to $5 million at 80 per cent LVR, up from $2 million. Near Prime Full & Alt Doc loans increase to $3 million at 80 per cent LVR, up from $1.75 million, with loans between $2 million and $3 million now eligible to 80 per cent LVR, up from 75 per cent. Category 2 and 3 postcode limits increase to $2.5 million and $1 million, respectively.
- Vacant land: Maximum LVR rises from 75 per cent to 80 per cent, while maximum loan sizes increase to $2 million for base rate and Category 2 loans.
- Bridging and expat: Near Prime Full & Alt Doc bridging loans and Near Prime Full Doc expat loans can now reach $5 million at 80 per cent LVR, up from $2 million. Expat Category 2 and 3 limits increase to $2.5 million and $1 million.
- SMSF: Commercial Prime Full Doc increases to $8 million at 65 per cent LVR, up from $2 million, while Residential Prime Full Doc increases to $5 million at 65 per cent LVR, up from $2 million.
- Income verification: Near Prime Plus and Specialist loans now accept one-day GST registration with a minimum six-month ABN. Simplified Self-Employed Full Doc can use three months of salary credits plus the previous financial year’s ATO income statement instead of payslips.
- Credit policy: Part 9/10 agreements are now accepted for Near Prime Plus and Specialist loans where being paid out. New Zealand citizens residing in Australia can apply under the standard Residential Loan, while non-resident co-applicants are accepted in certain scenarios where most assessable income comes from eligible Australian or NZ-resident borrowers.
Aware of a product or policy update that brokers should know about? Leave it in the comments below.
See last week’s policy changes here.
[Related: Product policy tops broker recommendations]
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