Weekly Kath's Credit Crunch 30th June 2025 🌟

Thank You from Kath🙏 (but first sorry for the bad video with poor lighting recorded in a hotel room on school holidays!!!🙈🙈)

I just want to take a moment to say a massive THANK YOU to every one of you — for your support, encouragement, and friendships throughout the 2025 financial year.

It’s been a huge year for me, both professionally and personally, and truly, I couldn’t have done it without your backing (and that of your amazing teams). Every decision I’ve made for The Brokers’ Bible has kept you — our brokers — front and centre. I’m constantly asking myself: Does this add value to your business? How can I support you better?

As we launch into the 2026 financial year, you will remain the focus of everything I do. I’m looking forward to another year of driving development, adding value, and being your loudest cheerleader (even if slightly off-key) in 2026.

👉 Quick updates

✅ No major policy updates to report today.here

✅ New Product Alert — Household Capital have launched their Retirement Refi product — the only home loan solution designed specifically for clients over 60. It’s a great way to help your retiring clients free up cash flow and give them more choice (and peace of mind) in retirement. Keen to see if they qualify? Check out the pre-approval calculator [here].

✅ Heads up — Bank Australia are pulling their investor rate special today, so if you’ve got deals in the pipeline, make sure you check the fine print before it closes. It’s been a cracker of an offer.

✅ Macquarie Bank – Offset Account Alert
An experienced LMG broker recently raised an important issue: when discharging a client’s loan, Macquarie de-linked the offset account four days before settlement, resulting in more than $5,000 in additional interest charged to the client.

To avoid this, ensure your customers are aware of the impact on their offset account when discharging their home loan. You can learn more about this process [HERE].

👉 Reminders

Bankwest - Buy Now Pay Later Updates
Due to recent regulatory changes, some BNPL facilities that were previously classed as credit cards now need to be listed as personal loans for servicing. Make sure you check out the BNPL guide on the Broker Portal so you can enter them correctly in your applications.

MYSTATE - Home Guarantee Scheme (HGS) Application Requirements
If a scheme place isn’t reserved by COB Monday 30 June:

• A new 2025/2026 HGS application form will be needed to secure a place

• A 2023/2024 Notice of Assessment (NOA) must be provided by 31 August 2025 (applications can still progress to pre-approval while this is pending)

• From 1 September 2025, a 2024/2025 NOA will be required upfront to secure a spot

This applies even to pipeline applications where an MIR has been issued but a spot hasn’t been reserved yet.

Please check each lender for any of their requirements.

CBA - HGS Process

What’s happening?

• The First Home Guarantee (FHBG) and Regional First Home Buyer Guarantee (RFHBG) allocations are now exhausted.
• These schemes have reached their full allocation for the current financial year, meaning no new applications can be accepted or progressed at this time.
• Withdrawn places may still become available before 1 July, and these are released to all participating lenders on a first-come, first-served basis.
• New places will become available from 1 July 2025, as part of the FY25–26 allocation.

• Advise clients to keep this in mind if they are signing contracts with short finance clauses over the weekend, as scheme availability may impact their eligibility or approval timelines.
• Ensure clients are aware that from 1 July, their FY25 NOA must meet the income eligibility criteria.
• From Tuesday 1 July to Sunday 31 August, if your customer is eligible to complete a tax return (year ending 30 June 2025) but unable to finalise it before the issuance of a Scheme place, you can proceed in issuing documents, however, the Notice of Assessment (year ending 30 June 2025) must be provided in order to issue a Guarantee Certificate.
• To proceed with the pre-approval application, you must check the income provided for the home loan application is within the Scheme caps.

See you next Monday, finance friends! 👋