Weekly Credit Crunch 15th August 2025

Bank of Melbourne / Westpac Group

Pre-Approval (AIP) Process Changes.  For most Approval in Principle (AIP) applications, verification will now occur prior to conditional approval for the following:

1. ID Documents & Consent Forms

• Verified at lodgement.
• If documents provided are insufficient, additional items will be requested before conditional approval.

2. PAYG Income

• Verified using documents provided at lodgement.

3. Customer Liabilities

• Verified using Comprehensive Credit Reporting (CCR).

4. What’s Not Verified at AIP Stage

• Expenses will not be verified at AIP stage.
• Assessment will be based solely on what the customer has declared and what has been provided in the submission.
• All other verification will be completed at the unconditional approval stage.

Depreciation as Post-Tax Addback for Sole Traders, Partnerships and Trusts

We are introducing an option to add back a portion of the depreciation expense post-tax if the asset is financed and is not classified as an instant asset write-off.

The Self-employed section of the Broker Serviceability Calculator will be updated accordingly.

Aquamore – New Product with Extended Promotional Discount

Short -term Commercial Private Funding

• Loan Amount: $300K – $7M

• Rate: 7.99% p.a. for approved applications from August 1 – 31, 2025

• LVR: Up to 75%

• Term: Property-secured 1–36 month commercial facilities

• Fees: No line or application fees

• Income Verification: Self-declaration

• Requirement: Must be registered for GST

Aquamore | Solutions through Partnerships, not Products

Webinar

📅 Date: Tue 9 Sep, 10:30am
🔗 Register Here: Click to Register

See how Aquamore partners with brokers to deliver flexible, outcome-driven SME lending strategies.

Brighten – Spotlight Non-Resident Evergreen

💛 I absolutely love Brighten for their flexible expat and non-resident lending — they are certainly my go-to when it comes to helping clients with offshore income or unique residency situations.

• Loan Types: Full Doc or Alt Doc home loans available to borrowers with non-Australian sourced income and non-residents of Australia

• Self-Employed: Alt Doc accepted

• Max Loan Size: $2,500,000

• Max LVR: 80%

• Postcodes: Category 1 and 2 postcodes accepted

Sucasa - Low Deposit Home Loans - Up to 98% LVR

Launched exclusively to Loan Market and soon to be released to the entire LMG Network. Here's a snapshot:

1. Owner Occupied Loan

• LVR: 85%–98%

•  Purpose: Purchase, refinance, or debt consolidation.

•  Repayments: P&I only.

•  Features: Unlimited redraw on Primary Loan, fee-free extra repayments on Accelerator Loan.

•  Genuine Savings: 5% required (exceptions for strong rental history, FHOG, lump sums).

2. Investment Loan

• LVR: 85%–98%

•  Purpose: Purchase only (no refinances).

• Special Rule: Borrower can only own 1 existing mortgaged property, which must be owner-occupied.

• Repayments: P&I only.

• Genuine Savings: Same rules as Owner Occupied.

3. Key Lending Criteria (Applies to Both)

• Borrower: Must be natural persons, aged 18+, in a spousal relationship for joint applications.

• Residency: Primary borrower must be Aus/NZ citizen or PR; secondary borrower must be resident in Australia. Some visa types accepted.

• Property:

  • Residential use only, metro postcodes, up to 15 acres.

  • Minimum 47m² living space.

  • Apartments in ≤6 floors (or older high-rise with conditions).

Interest Rate Updates

Here’s when the banks are passing on the rate cut to customers:

On the Road with the FBAA

It’s been a BIG week on the road — presenting at not one, but two FBAA events, talking all things tech with an incredible panel of industry colleagues.

The conversations have been buzzing with fresh ideas, AI innovations, and practical ways brokers can use technology to save time and work smarter.

And the tour doesn’t stop there! ✈️ Next week, the suitcase is coming out again as I head to Brisbane and Sydney with the FBAA crew.

If you’re attending, please come and say hi — I love meeting brokers face-to-face, swapping stories, and sharing tips that make business life just that little bit easier. 💬

#WinningWithUBank 🙌
💛 A heartfelt thank you to UBank for the gorgeous new NutriBullet 🥤 — which we’re proudly gifting to Impact for Women, a Victorian-based charity doing incredible work to support women and children escaping family violence.

These are the kinds of small, practical items that can bring a touch of normality — and even a smile — to someone rebuilding their life. As for the year’s supply of socks 🧦 … my hubby’s keeping those. He says it’s his version of “impact work” (apparently mismatched socks are a bigger crisis than I realised).

But it’s not just the thoughtful gifts I’m loving — UBank’s lending policies are a broker’s dream:

• 85% No LMI for all OO customers (Purchase & Refinance)
• 35-year loan term on OO purchases 🏡
• 1% buffer for Dollar-for-Dollar refinances — perfect for clients stuck in ‘mortgage prison’
• Fully assessed pre-approvals valid for 90 days ⏳
• Director wages accepted 🙌

NutriBullet + great lending policies = broker happiness and community impact. 💛

That's everything you need to know!! Remember to watch our blog in the video above for the full updates. See you next week, finance friends!