Credit Crunch Friday 24th Oct

 🚀 Apollo by LMG

HECS / HELP Debt Policy Update
If a client’s HECS / HELP debt will be fully repaid within 12 months under their existing ATO repayment plan, it does not need to be included for servicing.
To apply this, brokers must:

• Confirm the repayment arrangement meets ATO minimums, and

• Hold evidence of the current balance and repayment plan.

Self-Employed Income Verification
You can now verify self-employed income with:
✅ 1 year of financials, plus
✅ 2 recent BAS quarters.

⚡ Highlight – New Zeus Streamlined Refinance

Whether offered by Zeus or other lenders in the market, most streamlined refinance policies share several baseline conditions:
✅ Lower interest rate than the existing loan.
✅ Lower repayments (new P&I must be less than current P&I, or lower equivalent if IO).
✅ No loan structure change – like-for-like refinance only.
✅ Maximum LVR 80%.
✅ Limited cash-out – Zeus allows up to 3% of the security value, capped at $50,000.
✅ Clear repayment conduct – minimum 12 months of perfect repayments (no arrears >15 days).

⚡ How Is Zeus Bolt Different?

The Zeus BOLT Streamlined Refinance is eligibility-tested, not serviceability-tested, a major difference from other “streamlined” refinance products on the market. While most lenders use a reduced serviceability buffer of 1% to qualify borrowers, Zeus assesses loans using four key criteria:

1. Lower interest rate than the existing loan.

2. Lower repayments than the existing loan.

3. Maximum LVR of 80%.

4. Clear repayment conduct – a minimum of 12 months perfect repayment history 

I liken this approach to the classic Four C’s of Lending : Character, Capital, Capacity, and Collateral ,  pure common-sense lending.

What makes it even more powerful is the low documentation requirement and the broad borrower and security eligibility, creating huge opportunities for brokers to re-engage existing clients and help them access sharper rates.

💡 The Big Opportunities for Brokers

1. Self-Employed Clients – refinance alt-doc and low-doc loans sitting on higher rates.

2. Company and Trust Borrowers – often paying more because professional package discounts don’t apply.

3. Expats and Self-Employed Expats – a segment that’s become increasingly restricted by mainstream lenders.

4. Specialised Securities – such as NRAS properties or small apartments (from 30m²) that may currently sit on commercial-rate facilities.

Most of these clients are already sitting around 80% LVR or below — an ideal target market to reach out to, reconnect, and deliver a meaningful rate improvement.

And don’t forget the mortgage prisoners: borrowers who aren’t in any of those categories but are stuck on higher rates elsewhere. Zeus BOLT offers owner-occupier at 5.33%, fully featured with 10 offset accounts, unlimited free redraw, salary crediting visa debit access and SO much more!

To learn more, head to the BROKER WEBSITE 

🎥 Watch the video webinar:
Zeus Masterclass – Bolt in 30 Minutes Flat 

🏫 Teachers Mutual Bank

Approval in Principle (AIP) Applications – Temporarily Suspended
Effective Monday 20 October 2025, Teachers Mutual has suspended all new AIP (Pre-Approval) applications to improve workflow and processing times.

• Applies to new submissions only from the effective date.

• Pipeline applications will continue to be processed.

• Notification will be issued when AIPs resume.

💰 VMG

No clawbacks on new loans - Enjoy peace of mind knowing new loans written through VMG have no clawback policy, giving you greater certainty and income stability.

💡 Did You Know?

Wave Money  & Common Debt Reducer Policy
Wave Money’s Common Debt Reducer isn’t just for spouses — it can be used for anyone sharing ownership and debt responsibility.

🎓 Education & Training

Macquarie – Self-Employed Refresher Webinar
Join this short, practical session to discover why Macquarie remains a leader in self-employed lending.

📅 Date: Friday, 24 October 2025
🕚 Time: 11:00 AM (30 minutes)
📍 Location: Zoom
🔗 Join via Zoom 

Agenda:

• Overview of Macquarie’s self-employed policies

• Key benefits for brokers and clients

• Q&A session – bring your scenarios!

 🤖 BrokerVersity Training – AI Made Simple

AI doesn’t have to feel “out there.” This November, we’re bringing it back to earth with practical, face-to-face training to help you use tools like Gemini in ways that actually make your day easier.

No jargon. No fluff. Just real use cases to help you:
✅ Turn transcription and Gems into efficiency superpowers
✅ Review documents smarter, not harder
✅ Nail your tone of voice across socials and emails
✅ Use AI safely – and stay compliant

Walk away with confidence, fresh ideas, and time back in your day. REGISTER HERE

📅 Session Times
Monday 10 November – 10:00 am – 12:30 pm | 2:00 pm – 4:30 pm
Thursday 13 November – 10:00 am – 12:30 pm | 2:00 pm – 4:30 pm

📍 Location: Level 28, 35 Collins Street, Melbourne VIC 3000

🎓 Education Focus: First Home Buyer Finance (FHB) — Let’s Upskill

This month we’re doubling down on First Home Buyer Finance with three power-packed webinars featuring Brokerversity, Mr Mentor, and Bank of Melbourne. 🚀

• FHB Portal Update: Our First Home Buyer Portal is now refreshed with the new 5% Deposit Scheme (replacing the old HGS/HOS).

• FHB Hub Upgrade: The FHB Hub has also been updated with the new 5% Deposit Scheme so you can guide clients with confidence.

• Deep Dives x2: We’re running two deep-dive webinars on the 5% Deposit Scheme with Brokerversity and Mr Mentor — links to register below. 🔗

Why this matters: faster conversations, cleaner scenarios, and more first-time buyers saying yes. ✅🧠💛