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There have also been some changes in appetite for business lending as well as some welcome rate cuts despite last week’s rate hike.
Queensland Country Bank joins Help to Buy scheme
Queensland Country Bank has joined the federal government’s Help to Buy scheme, becoming the fourth lender on the panel and expanding access for eligible buyers across regional and rural Queensland.
The bank will offer the scheme through its retail and broker channels from 6 October. Eligible buyers can purchase with a minimum 2 per cent deposit, with the government contributing up to 40 per cent of the purchase price for a new home or 30 per cent for an existing home, with no LMI payable.
Queensland Country Bank joins the Commonwealth Bank of Australia, Bank Australia, and Teachers Mutual Bank on the lender panel.
TMB rolls out Help to Buy through broker channel
Teachers Mutual Bank has begun rolling out the federal government’s Help to Buy scheme through its broker channel, with the first cohort of trained brokers now able to submit applications.
The initial group has completed training to support eligible customers accessing the shared equity scheme, which requires a minimum 2 per cent deposit and provides a government contribution of up to 30 per cent for existing homes or 40 per cent for new homes.
A second cohort of brokers is expected to be onboarded by the end of October, with broader broker access planned throughout 2027.
Suncorp Bank sets final deadline for new lending applications
Suncorp Bank will stop accepting new lending applications from 7 October as it prepares to transition to Australia New Zealand Banking Group (ANZ).
The cut-off applies to new lending as well as certain variations for existing customers that require a new application, account, letter of offer, or credit contract. Applications submitted before 7 October will continue to be assessed under Suncorp’s existing criteria.
Final approval and loan documentation must be issued by 27 October, while the final settlement date for loans or services requiring a new account or letter of offer is 26 December 2026.
Bank of Sydney makes changes to business lending policy
Bank of Sydney has increased the minimum loan size requiring an annual review from $1 million to $3 million while removing the need for a company guarantee on consumer-purpose loans to self-employed borrowers through a corporate entity.
Eligible special purpose vehicles can now also access SME lending, subject to conditions including majority trading-business income, common ownership between the SPV and trading business, and a guarantee linking the trading entity to the facility.
For SME servicing, all depreciation shown in the borrower’s most recent tax return can now be added back, subject to credit assessment.
Rate Money cuts promotional rates following RBA increase
Rate Money has launched promotional pricing on its Evolve Easy Doc product, with rates starting from 6.99 per cent for owner-occupied P&I loans up to 80 per cent LVR.
Available until 1 December, the offer includes no application fee, risk fee, or LMI and represents an effective 0.40 percentage point rate reduction.
The lender also offers dollar-for-dollar refinancing for self-employed borrowers, including both individual and company borrowers, up to 80 per cent LVR and loan amounts of up to $2.5 million.
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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