Weekly Kath's Credit Crunch 17th February 2025 🌟

Westpac

✅ Multiple Offset Accounts for Your Clients!
Starting today 17 February 2025, Westpac customers can link up to 10 eligible offset accounts (e.g., Westpac Choice) to each eligible loan account (e.g., Rocket Loan).

🔹 Application Process: Only one offset account can be opened and linked to a home loan via ApplyOnline (AOL).
🔹 Post-Settlement: Additional offset accounts can be opened and linked after settlement.
🔹 More Info: Full details and a step-by-step guide are available in The Brokers' Bible and the Westpac Brokerhub 

WLTH | NDIS Product Policy Updates

📌 Borrower/Investor Requirements:

• Must be a non-trading Company or Trust.

📌 NDIS Property Limits per Investor Household:

• Each household may have only one property under construction at a time.
• The first property must have at least one tenant before starting a second.
• A maximum of two completed NDIS properties is allowed per household.

📌 5% Liquidity Requirement:

• The 5% liquidity requirement must now be post-settlement liquidity.
• Borrowers must declare that this 5% will be used for NDIS property expenses or interest prior to tenancy.

📌 Sophisticated Investor Requirement:
NDIS investors must be classified as sophisticated investors and provide:
1️⃣ A Proposed Security Due Diligence Report.
2️⃣ An Accountant’s Certificate confirming sophisticated investor status.

📌 Loan-to-Value Cap:

• Max LVR for NDIS loans: 70%.
• NDIS Construction Loan Cap: 70% of Discounted Cash Flow (DCF) Value OR 100% of Alternative Use Value, as determined by the valuer.

📌 Interest-Only Period Extension:

• Now available for up to 24 months (previously 12 months) to accommodate longer build and tenancy timeframes.

Think Tank

💼 Commercial Lease Doc Loans now available up to $2M at 70% LVR.

Education & Training Opportunities

🎓 Bank of Melbourne: Learning Bite – Niche & Policy Updates
📅 Thursday, 20 Feb 2025 | 🕑 2:00 PM – 2:30 PM
📍 Microsoft Teams (Meeting ID: 448 541 302 309 | Passcode: G8yW7PJ3)
💡 Interactive session covering Bank of Melbourne’s niche offerings and new policy updates. Don’t miss it!

🎓 SMSF Deep Dive with Aquamore
📅 Thursday, 13 Mar 2025 | 🕚 11:00 AM
📍 Register Here
🔍 Expert insights into establishing, investing, and borrowing in an SMSF – plus how to avoid common pitfalls!

NEW: Multi-Lingual Social Media Marketing Subscription! 🌎📢

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Our brand-new monthly subscription is here! Now available in English, Simplified Chinese, Hindi, Sinhala, and Nepali! 🎉

Struggling with social media content? We’ve got you covered! As industry experts, we create high-quality, ready-to-post content designed specifically for mortgage brokers.

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✅ Now in 5 Languages! – English, Simplified Chinese, Hindi, Sinhala & Nepali
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✅ Over 200 Social Media Tiles Each Month – Across multiple languages

👉 Ready to elevate your broker game? Let's go!

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EVENTS

Tomorrow! ☕ Coffee & Credit with Kath - Talking all things foreign investor - 📢 Hot topic alert – If you’ve seen today’s headlines, you know the Albanese Government is proposing a 2-year ban on foreign investors purchasing established properties. 🫣

Webinars Are Back: Starting TOMORROW!!. Join via THIS LINK

  IWD Events. Last Tickets remaining!

As always, Members, I’m here to help you. If you’re stuck on a scenario or need a sanity check, drop me an email anytime (exclusively for members only).

Have an amazing week ahead!

Kath👋