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The updates include changes to documentation requirements and the criteria borrowers must meet to access certain products.
ORDE expands 80 per cent LVR commercial lending footprint
ORDE Financial has expanded its 80 per cent loan-to-value ratio (LVR) offering for eligible commercial and SMSF commercial securities across a broader range of locations.
The change applies to full-doc, lease-doc and alt-doc transactions, with expanded postcode coverage in selected markets across Canberra, Adelaide, Perth, Hobart, the Gold Coast, Sunshine Coast, Newcastle, the Central Coast, Wollongong and Geelong.
The expansion follows broker feedback and reflects demand for commercial property finance across regional centres and emerging growth corridors, according to ORDE.
Granite launches 40-year home loan and lifts SMSF limits
Granite has launched a 40-year home loan for owner-occupiers and investors, alongside higher SMSF lending limits and changes to rates.
Available from 6 October, the Extended Home Loan offers terms of up to 40 years, an LVR of up to 95 per cent and serviceability assessed over a maximum 35-year period. Owner-occupiers can access terms up to age 45, while investors can access up to 10 years’ interest-only repayments.
Granite has also lifted its maximum SMSF loan size from $3.5 million to $5 million for commercial lending and residential refinancing. Standard owner-occupied rates up to 80 per cent LVR will rise by 0.15 percentage points, while investment rates in the same band will increase by 0.05 percentage points. Rates above 80 per cent LVR will remain unchanged or fall by up to 0.65 percentage points.
Ubank simplifies income verification and application process
Ubank has introduced a series of changes to its home loan application and credit assessment processes, including allowing eligible applicants to have their income assessed using payslips alone.
Illion bank statements are no longer compulsory for eligible applicants, with brokers able to request a bypass through Loanapp Chat. The changes also include broker-declared living expenses, reducing the need for supporting documentation.
Ubank has also introduced direct phone lines for its Sydney-based credit team and text alerts before assessor calls, giving brokers more direct access to assessors and advance notice of incoming calls.
Firstmac expands use of government benefit and pension income
Firstmac has updated its servicing policy to allow government benefits, pensions and maintenance income to be included in servicing, provided they account for no more than 50 per cent of borrowers’ total assessable income.
The policy, effective immediately, excludes rental and other investment income from the calculation.
Eligible income includes Centrelink benefits and allowances, age, disability and carer pensions, Department of Veterans’ Affairs payments, Defence Force pensions, and child support and maintenance payments.
The income must also meet Firstmac’s standard evidence and ongoing income requirements.
Bankwest tightens self-employed income verification requirements
Bankwest has updated its self-employed income verification policy, requiring a notice of assessment (NOA) for full verification applications from 29 September.
Under the full verification method, the most recent NOA must be provided with the initial submission. Accountant letters confirming tax returns have been lodged will no longer be accepted in place of the document.
For the salary self-employed method, Bankwest will continue to accept an accountant-prepared letter confirming the company or trust has sufficient profits to meet its business commitments and continue paying the applicant’s declared salary.
Applicants using the individual tax return method must provide an individual tax return and NOA, alongside either accountant-prepared financials or a company tax return confirming the company or trust is trading profitably.
Rental appraisals
Bankwest will continue to accept rental appraisals as income evidence where a full valuation is not required. Appraisals must be issued by a licensed real estate agent, provide a reasonable rental assessment based on the property type and location and meet any additional credit review requirements.
Where a full valuation has also been obtained, Bankwest will use the lower of the valuation’s rental assessment or the rental appraisal.
Granite tightens Easy Refinance eligibility for companies, trusts and self-employed borrowers
Granite Home Loans is tightening its Easy Refinance policy from 5 October, removing companies and trusts as eligible borrower types and introducing additional requirements for self-employed applicants.
From 11.59pm on 4 October, new Standard Easy Refinance applications will only be accepted from individuals applying in their personal capacity. Applications from companies, trusts and individuals applying as trustees will no longer be eligible.
Self-employed borrowers can still apply, provided the application is in their personal name. However, they will need to have held the existing loan with their current lender for at least 24 months and have a minimum Equifax Apply One Comprehensive Credit Reporting score of 750. The minimum score of 600 for PAYG borrowers is unchanged.
Company and trust borrowers can still access Granite’s Commercial Easy Refinance and SMSF Easy Refinance products. Standard Residential Full Refinance applications, which involve a full assessment, will also remain available to companies and trusts.
Applications lodged before the 4 October cut-off will be assessed under the existing policy, based on the date and time recorded in Simpology. These applications must settle by 2 January 2027, or they will need to be resubmitted as a Standard Residential Full Refinance.
From 5 October, applications from companies, trusts or self-employed individuals who do not meet the new requirements will need to be submitted as a Standard Residential Full Refinance.
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: Four 2026 rate hikes deal $90k blow to borrowing capacity]
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