Connective Essentials recently updated its credit policy to remove the requirement to confirm if there has been a capital reduction in an applicant’s superannuation balance, when using superannuation income for assessment.
To use superannuation income, you now only need to provide evidence of the two most recent payments.
This change, along with our existing retirement strategy policy, makes Connective Essentials a great option for customers nearing retirement.
Whether it’s relocating, downsizing or borrowing to renovate their existing home, our clear retirement strategy policy makes the application process simple for you and your customers.
For these applicants we provide two retirement strategies:
Applying these exit strategies is simple, all you need to do is follow the online prompts when completing the loan submission.
For full policy details, including how to apply each of these tests, acceptable financial assets and documentation required, please refer to our Lending Guidelines Manual available on your aggregator systems.
Our standard loan terms are 25 or 30 years. So, we won’t ask any of your customers to select a short loan term because of their age – assisting with serviceability and lower monthly repayments.
If you have any questions or would like to discuss a customer’s scenario, don’t hesitate to contact your Connective Essentials Business Development Manager.
