Policy changes to help more of your customers

We’ve increased maximum LVR to 90% for investment loans! Property investors in Sydney, Melbourne and Brisbane metro can borrow up to 90% of the value of their property, with no LMI (for Prime full doc P&I loans). View eligibility with our Acceptable Security Locations calculator.

These are some more policy changes to help you service more customers:

• We now accept cash out on 90% LVR
• We can now accept rental income as the only source of income (used to be 50%)
• We now lend to WA Non-Metro areas - Bunbury, Busselton and Geraldton (max LVR 85%, max loan amount $1m)
• We've increased max LVR to 85% and max loan amount to $1m in Townsville and Cairns areas

For more info, view our Product Matrix and Online Credit Policy.

Scenario Hotline success story

How we helped a father and son with debt consolidation and cash out

Customer Scenario

These father and son customers were looking to refinance their owner-occupied property to consolidate debt, and seeking $20k cash out to purchase a new car.

Workshopping the solution

While using the son’s PAYG income would be no issue, his father’s aged pension income would be more difficult to service.

The father’s age also made things a little more complicated. At 74, a standard loan term wouldn’t work in this situation - the maximum term could only be 15 years.

Outcome

Taking the complex nature of the scenario into account, the underwriter advised the broker to submit the application under our Near Prime Full Doc product. They were able to confirm that a 15-year term would be possible and that the exit strategy would fall to the son's responsibility.

We were able to workshop a solution on the call with the broker and provide a likely ‘yes’ on the call with the broker, along with documentation to submit with the loan - all of which would likely not have been possible with a mainstream lender.

Call the Scenario Hotline on 13 25 83 for assistance on your loan scenarios.

This publication is intended for Connective and Bluestone accredited introducers and referrers only and is not to be distributed to anyone else, including consumers, under any circumstance. The information provided is general in nature and does not take into account your individual personal needs, requirements and circumstances. It is not a recommendation about any financial product(s) and does not constitute financial or tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. The information in this email is given in good faith, believed to be accurate at the time of posting and is subject to change at any time. Information accurate as of 17 July 2023.

Your Connective Elevate Home Loan is administered by Bluestone Servicing Pty Ltd (Bluestone) ACN 122 698 328 (Australian Credit Licence No. 390183) on behalf of the Credit Provider, Permanent Custodians Limited ACN 001 426 384. Distributed by Connective Credit Services Pty Ltd ACN 143 651 496 (Australian Credit Licence No. 389328) trading as Connective Home Loans. T&Cs apply.