Weekly Credit Crunch 16th February 2026 🌟

🏦 Bank of Melbourne / Westpac Group

👩‍💼 Casual Income Annualisation & Employment Rule

✨ Annualisation period increased from 48 to 52 weeks
📊 Minimum YTD evidence extended from 3 to 6 months
👷‍♂️ Contractors need 6 months in the same industry (not same employer), with up to a 2-month gap allowed

🚀 Self-Employed Fast Track Enhancements

📅 Time in employment changes — only one of the ABNs needs to be operating for two full financial years
🔄 Changes in business structure now considered where evidenced over 2 full financial years

📈 Self-Employed 1-Year Policy Changes

❌ Total Aggregate Exposure (TAE) limit of $3m removed
💳 Debt consolidation now allowed
📉 Restriction on entities making losses removed

💍 100% Spousal Guarantee Clarification

🏡 Only one loan facility can use 100% guarantee collateral per submission
📑 Multiple loans require separate submissions

Scheme Reservations

📌 Reservations for the Australian Government 5% Deposit Scheme will no longer take place at pre-approval stage
✅ Scheme reservation will now take place only when the application progresses to full / formal approval

💰 Genuine Savings – Pre-Approval Applications

🚫 No Genuine Savings verification required at pre-approval stage
📄 The pre-approval letter will advise customers that Genuine Savings evidence will be required later in the process
📝 The Genuine Savings task becomes mandatory only at full submission in AOL (when pre-approval is unticked)
⚠️ Please ensure customers are clearly informed that Genuine Savings evidence will be required at full submission

💼 Bizcap

🔔 New Product Alert! ⚡ Line of Credit ULTRA

💸 Designed for cash flow–heavy businesses that draw and repay quickly
📆 Best suited to 30–60 day trading cycles
🔄 Flexible competitive alternative to invoice and debtor finance

📌 Loan Details

💰 Loan Amount: Up to $500K UNSECURED
⏱ Receiving Funds: As little as 3 hours to set up, then ongoing immediate access to funds
📅 Term: Up to 8 months

✅ Eligibility

🏠 No property required

Minimum Eligibility Criteria:
✔ Active ABN/ACN
✔ At least 9 months of trading
✔ $75K minimum monthly revenue
✔ Credit Score > 400

🎉 Interest-free period schedule
Enjoy 0% interest for the first four weeks, with discounted rates applying during the first half of the drawdown term.

🌟 Policy Pick of the Week

🏗 Credit Union SA – Construction Loans

💡 Now offering up to 2 years Interest-Only repayments on all construction loans
🧘‍♂️ Greater flexibility and peace of mind for builds expected to take longer than 12 months
📉 No interest rate loading
🏡 Owner-occupied construction loans can be paired with the XL 40-year home loan product

🔥 Lending up to 97% LVR including LMI for both owner-occupied and investment construction loans

📌 Quick Reminders

🧮 Use servicing calculators for all construction loans, and it must reflect the remaining P&I term only
📍 Construction loans are available only within SA
🚫 Not eligible for any cashback offers

💙 Bankwest Reminder!

🙏 (Thank you Kathy P!!)
✨ Why we love Bankwest!

🌿 Upcoming VIC/TAS Events

Prospa: Grow Your Business with SME Clients:

Tue 17 Feb, 10am - Register here

Wed 18 Feb, 11am - Register here

Love Your Lender: Tue 10 Mar, 11am-12pm - Register here

Leading Ladies IWD Breakfast: Wed 18 March, 9.30am - Register here

Great Southern Bank

Mastereclass on policy updates
https://events.teams.microsoft.com/event/1476705b-9a0a-4dc0-b3ef-8e86ffb94b09@e3202e4f-132d-4d52-9c9d-2fbd69af06db