Kath's Credit Crunch Friday 5th September

🏦 ME Bank

Co-owners of investment properties, like siblings, partners or friends can use the full rental income in their application.

If the rental income is paid into a joint account held by both owners, ME allows 100% of that income to be included — even when the property is jointly owned.

What you’ll need:

• A current tenancy agreement showing start and end dates, or

• A rental statement from the managing agent or property manager (dated within the last 90 days).

🏦 Credit Union SA

40 Year Loan Term available now to all eligible South Aussies purchasing, refinancing, or building a home in South Australia.

Key Features:

• Available for the purchase of new or existing residential property for owner occupied purposes, up to 97% inclusive LMI

• Available for refinance of Owner occupied property up to 80% LVR

• Available for purchase or refinance of Owner occupied vacant land where part of a construction loan

• Available for Construction loan

• Available for top ups to 80% LVR

• Open to all SA borrowers with 1 applicant under 40 years old (not restricted to FHB)

• Property located in South Australia

🏦 AMP

Family guarantee, Fast-Refi & Foreign Income

AMP have decided not to include Family Guarantee, Fast Refi and Foreign Income in Loanapp.

📌 Orde Financial SMSF

The bORDEroom Session – Melbourne

📅 Tuesday 16th September. Please register  The bORDEroom Session
📍 Location: ORDE Financial Office Boardroom - Level 15, 31 Queen Street, Melbourne VIC 3000
🕒 Time: 11:00AM - 1:00PM
🥗 Catering: Light lunch and refreshments provided

Highlights included:
✅ SME opportunities in today’s market
✅ Deep dive into our flexible product range with Senior BDM Brett Winzer
✅ Live scenario workshop with brokers & BDMs
✅ Q&A with our COO, Chief Lending Officer & credit team

Plenty of insights, practical takeaways, and a great lunch to top it off 🥗👏

Considerations for Brokers - Understanding loan terms up to 40 years:

1. Age Restrictions – Most lenders cap borrower entry age at 40 years old or under. Bluestone allows older borrowers but requires an exit strategy if 45+. Brokers must check client ages carefully.

2. First Home Buyer Requirement – Some lenders (Great Southern Bank, MA Money, MyState) only allow extended terms for FHBs, while others (Liberty, Bluestone, Pepper, CU SA) are more open.

3. Servicing Assessment – Watch whether serviceability is calculated on 30 years vs actual 40 years. This can swing borrowing capacity significantly.

4. Loan Purpose Limits – Some lenders restrict 40-year terms to owner-occupied only , while others allow investment (Liberty, Pepper, Go Flexi).

5. LVR Differences – Range is 80% to 97% depending on lender and product.

6. Repayment Types – Some lenders require P&I only (CU SA, Great Southern, Go Flexi, Mortgage Ezy), while Liberty and allow IO.

7. Extra Conditions – Exit strategies, postcode/security checks, renovation caps, clawback removal, or pricing loadings can all apply.