Weekly Credit Crunch 22nd June 2026 🌟

🏦 ANZ

ANZ Unpacked: What’s New and Topical Insights

ANZ is hosting a practical broker update covering key topics impacting brokers and their clients.

Webinar details:

• Date: Thursday, 9 July
• Time: 12:00 pm – 1:00 pm

Topics covered:

• First Home Buyers 5% Government Guarantee Scheme
• PAYG & other income refresher
• Bridging finance
• New ANZ Broker Portal

👉 Register here

🏦 AMP Bank

Webinar: Support Business Growth Through Networking

In partnership with the MFAA, AMP Bank’s National Manager, Mortgage Broker Distribution, Travis Hall, will explore how networking can help brokers grow their pipeline and strengthen their personal brand.

Webinar details:

• Date: Tuesday, 7 July 2026
• Time: 1:00 pm – 2:00 pm AEST
• CPD: 1 CPD point available

👉Register here

🏦 Bank Australia

Limited-Time Offset Home Loan Refinance Offer

Bank Australia has announced a limited-time Offset Home Loan Refinance Offer, along with upcoming fixed interest rate changes effective from 18 June 2026.

Offset Refinance Offer Rates

• Offset Home Loan: 6.05% p.a.
• Offset Investment Loan P&I: 6.19% p.a.
• Offset Investment Loan IO: 6.44% p.a.

Eligibility Criteria

To qualify, applicants must meet the following:

• PAYG income applicants only
• Owner occupied loans must be principal and interest repayments
• Maximum 80% LVR
• External refinances only
• Excludes Qudos Bank clients refinancing to Bank Australia Limited
• Must be funded by 30 September 2026

This offer applies to new home loan applications only, including pipeline applications that meet the eligibility criteria.

🏦 Bankwest

Mobile Numbers for Overseas Customers

Bankwest has updated its approach to recording mobile numbers in ApplyOnline.

Customers living overseas can now provide an international mobile number on their application where required.

Pricing Enhancement: Self-Employed Clients Now Access PAYG Discounts

Effective 17 June 2026, the special discounts available through the Bankwest Pricing Tool are now aligned for both PAYG and self-employed applicants.

This is a significant enhancement, meaning eligible self-employed clients may now access the same pricing discounts available to PAYG customers.

Key reminder:

• Maximum LVR for applications involving self-employed income remains 80%

Bankwest has also reminded brokers that its self-employed policy remains one of the strongest in market, and brokers are encouraged to workshop scenarios with their BDM before lodgement.

Expanded LMI Waiver Offering

Bankwest has expanded its LMI waiver offering across several professional categories.

⚖️ Lawyers

In addition to standard eligibility criteria, borrowers must meet the following:

• Full-time and part-time PAYG applicants only
• Must be a Lawyer, Solicitor, Barrister or Partner registered to practise in Australia

Verification required:

• Evidence of current Practising Certificate issued in Australia

📊 Accountants

In addition to standard eligibility criteria, borrowers must meet the following:

• Full-time and part-time PAYG applicants only
• Must be registered to practise in Australia as one of the following:
  • Chartered Accountant
  • Certified Practising Accountant
  • Chartered Financial Analyst
  • Actuary for the Institute of Actuaries of Australia

Verification accepted:

• Current membership of Chartered Accountants Australia & New Zealand
• Current membership of CPA Australia or comparable international accounting body with evidence of mutual recognition
• Current membership of the Chartered Financial Analyst Institute Australia
• Current Fellowship of the Institute of Actuaries of Australia

Important note:

• Student or provisional memberships are not permitted

🏛️ Government Professionals

Eligibility requirements:

• Full-time and part-time PAYG applicants only
• Must be directly employed by the Government Department
• Contractors are not eligible

Eligible employers include:

• Attorney-General’s Department
• Department of Agriculture, Fisheries and Forestry
• Department of Climate Change, Energy, the Environment and Water
• Department of Defence
• Department of Education
• Department of Employment and Workplace Relations
• Department of Finance
• Department of Foreign Affairs and Trade
• Department of Health, Disability and Ageing
• Department of Home Affairs
• Department of Industry, Science and Resources
• Department of Infrastructure, Transport, Regional Development, Communications, Sport, and the Arts
• Department of the Prime Minister and Cabinet
• Department of Social Services
• Department of the Treasury
• Department of Veterans’ Affairs

Excluded employers include:

• State Departments and Agencies, including examples such as:
  • Department of Education
  • Health Departments
  • Police
  • Corrective Services
  • Services Australia
  • Australian Tax Office

Acceptable employment bands:

• APS6
• EL1
• EL2
• SES

Verification required:

• Evidence of eligible employer and acceptable employment band via:
  • Employment contract
  • Employment letter
  • Current payslip

💻 Technology Sector Professionals

Eligibility requirements:

• Full-time and part-time PAYG applicants only
• Must be directly employed by the eligible company
• Contractors are not eligible
• Minimum six months’ continuous employment with an eligible employer

Eligible employers:

• Adobe Inc
• Alphabet Inc
• Amazon
• Apple
• Atlassian
• Meta
• Microsoft
• Salesforce
• Xero

Verification required:

• Evidence of length of employment via:
  • Employment contract
  • Employment letter on company letterhead
  • Current payslip showing employment commencement date

🏦 Banking Professionals

Eligibility requirements:

• Full-time and part-time PAYG applicants only
• Must be directly hired by the bank
• Contractors are not eligible
• Minimum six months’ continuous employment with an eligible bank

Eligible employers:

• ANZ, including Suncorp
• CBA, including Bankwest, ASB, Aussie HL and Unloan
• NAB, including Citibank, Ubank and BNZ
• Westpac, including Bank of Melbourne, St.George and BankSA
• Macquarie Bank
• ING Bank Australia Limited
• Bank of Queensland Limited, including ME Bank
• Bendigo & Adelaide Bank Limited, including Rural Bank, Up, Delphi Bank and Alliance Bank
• HSBC Bank Australia Limited
• AMP Bank Limited

Verification required:

• Evidence of length of employment via:
  • Employment contract
  • Employment letter on company letterhead
  • Current payslip showing employment commencement date

🩺 Eligible Medical Professionals, Including Registrars

Bankwest has confirmed eligible medical professionals may be included in the LMI waiver offering.

Important exclusion:

• Physiotherapists, psychologists and nurses are excluded from this offering.

Important Notes for LMI Waiver Applications

• Full policy T&Cs will be available on the Broker Portal
• Brokers can use the policy immediately
• Application comments should note that an LMI waiver is being sought
• All applicants seeking an LMI waiver must be PAYG
• Maximum LVR for self-employed applicants remains 80%
• Pricing request must be completed via the Pricing Tool
• Pricing is based on the 80–90% LVR tier, not the ≤80% LVR rates

✅ Income Verification Updates and Broker Portal Refresh

Bankwest has expanded income verification options across several income types.

Updates include:

• Allowance and overtime income: Current financial year YTD ATO income statements can now be used
• Allowance income: Employer letter or employment contract plus a payslip can now verify a fixed allowance amount
• Bonus income: Previous year ATO income statements can now be used
• Commission income: Six months’ YTD commission evidence on a payslip can now be used, removing the need for a previous year ATO income statement

🔄 Negative Gearing / Established Investment Property Changes

Following the recent Federal Budget changes, borrowers purchasing established investment properties after 12 May 2026 are no longer eligible for negative gearing benefits within servicing assessments.

Bankwest may currently assess eligible scenarios using neutral gearing through a temporary process while permanent system enhancements are implemented.

What brokers need to know

If a client is purchasing an established investment property after 12 May and the deal does not service due to the removal of negative gearing, there may still be an opportunity to proceed.

Credit Quality Managers may assess servicing using neutral gearing to determine whether the application remains viable.

Temporary Assessment Process

• Complete a manual servicing calculator as normal
• If the application services, proceed as usual
• If servicing fails and:
  • The property is an established investment property purchased after 12 May; and
  • “Investment – No Negative Gearing” has been selected
    brokers may be able to seek further assessment through the temporary process

🏦 Better Choice

Reminder: Company and Trust Lending Simplified

Better Choice has reminded brokers of its flexible company and trust lending options.

Why brokers choose Better Choice

• Company and trust applicants accepted across all Ultimate Full Doc and Alt Doc products
• Unlimited cash out to 85% LVR
• Business purposes accepted
• Tax debt repayment accepted
• Broader credit impairment policy under Specialist Plus
• No application fee
• No annual fee

🏦 MyState Bank

Policy Reminders

MyState Bank has provided several broker policy reminders.

General Lending Policy

• 85% broker originated — broker-centric focus
• Owner occupied up to 100%, being 95% including LMI
• Minimum $200 per month surplus required, built into calculator
• Maximum DTI of 5
• Helia is the LMI provider
• Four-hour turnaround once sent to Helia for approval
• Investment lending available to 90% plus LMI
• Body corporate included in HEM for owner occupied lending
• Super accepted for owner occupied loans
• Exit strategy only required for owner occupied applicants over 55
• No exit strategy required for investment loans
• Equifax One 
• No statements required, relying on CCR and Equifax One
• Reach out to BDM for minimum Equifax One score
• Cash out over $100,000 requires an explanation, for example renovations
• Modular policy available
• Interest addbacks are available in the calculator for self-employed applicants
• HECS is outside HEM and the balance must be included in servicing
• No kit homes
• Dependent contractors are classified as self-employed
• Fortnightly repayments are treated as half-monthly, not true fortnightly
• Fully assessed pre-approvals available for non-scheme loans
• One offset available, not multiple offsets

New Updates: Self-Employed

• One year self-employed accepted
• Requires one year of financials and one year of tax returns
• One year individual tax returns required
• If supplying two years of financials, no BAS required
• ABN still required for a minimum of two years
• Business liabilities included

PAYG Income

• Bonus income accepted where received for 12 months and taken at 25%
• Six months accepted for monthly bonus structures, treated as commission

Construction WA

MyState is now offering construction in Western Australia.

Key points:

• Builders must be approved
• There is currently a list of approximately five approved builders
• This list may increase
• Build contracts up to $500,000
• MBA Tasmania extended schedule has been updated

Scheme Loans

MyState has updated its 5% Government Scheme policy.

Key updates:

• Customers can now retain up to $30,000 in savings
• Retained savings threshold increased from $15,000
• Scheme pre-approval increased to 90 days, up from 60 days
• Scheme pre-approvals are not fully assessed
• MyState will review credit score and reserve a place
• Full assessment occurs once the contract of sale is submitted
• Current scheme basic loan rate is 6.09%
• Offset loan not currently available for scheme loans
• Construction is not currently available for scheme loans

🏦 NAB

New Government Requirements for 5% Deposit Scheme Applications

NAB has announced updates following Australian Government changes to the 5% Deposit Scheme savings policy.

The following updated policies apply to applications with Scheme places reserved on or after 1 July 2026.

New Requirements for Retained Savings

For Scheme places reserved on or after 1 July 2026, customers must not have retained savings of more than:

• Six months of living expenses; plus
• Six months of loan repayments; plus
• A 5% buffer for construction applications

If a customer’s retained savings exceeds this amount, commentary will be required.

Commentary requirements

• If retained savings are within $50,000 of the guidance amount, additional savings reasoning must be provided
• If retained savings are more than $50,000 above the guidance amount, additional savings reasoning must be provided and will be assessed by NAB for approval

NAB will add a retained savings tool to the NAB Broker Portal to help brokers understand and apply this policy.

The tool will be available under:

Resources > Australian Government 5% Deposit Scheme > Customer eligibility & supporting documents

Refinance Changes

When refinancing a loan that is, and remains, part of the 5% Deposit Scheme:

• The loan amount must be at least two monthly payments lower than the current loan balance
• The loan term must be at least two months lower than the current loan term

Property Price Eligibility Changes

The Australian Government has updated the property price caps under the 5% Deposit Scheme. In NSW, the capital city and regional centre cap has increased to $1,500,000, with NSW regional centres including Illawarra, Newcastle and Lake Macquarie. Other NSW areas are capped at $800,000.

In the Northern Territory, the current cap is $600,000. From 1 July 2026, Darwin will have a separate increased cap of $750,000, while the rest of the Northern Territory will remain capped at $600,000. Buyers should always check the current Housing Australia postcode tool and confirm the applicable cap with their Participating Lender before proceeding. 

NAB Commercial Broker Regional and Agribusiness Webinar

You're invited to the NAB Commercial Broker Regional and Agribusiness webinar

• The latest economic outlook, and what it means for Regional & Agribusiness customers.
• The customer behaviours NAB is seeing in market and the practical steps businesses are taking in response.
• Opportunities for you as customers focus on resilience, efficiency and selective investment.
• The industries and regions showing momentum across Regional & Agribusiness.
• A practical customer example and live Q&A with NAB Head of Australian Economics, Gareth Spence.

REGISTER HERE

📅 Date: Tuesday, 23 June 2026
⏰ Time: 3:00pm AEST