Weekly Kath's Credit Crunch 2nd December 2024

ANZ

• Effective Monday 9 December 2024, ANZ will be making changes to the Low Risk LMI Waiver Policy locations, expanding to include an additional 15 postcodes.
• Loanapp will no longer be available for ANZ Home applications effective Friday 20 December 2024

Bankwest

Medical Professionals Package’s can now be lodged directly through AOL and then advise your BDM of the application reference number to ensure the LMI waiver is applied.

Apollo by LMG powered by Athena

Now accepting non trading companies and non-trading trusts as applicants UPTO 85% NO LMI!!Some other  highlights we love:

• 2% max buffer. Also Offer 1% like for Like buffer.
• Private School Fees, Private Health Cover, OO Strata Fees, Childcare all ‘inside of HEM’

• 95% of Rental Income utilized metro and surrounding, with 90% in regional areas.
• 80- 85% no LMI  including  IO on INV and OO Loan for LVR =>85% with no LMI

• Brokers can write their own loans (with lite doc option!!)

CBA

1. Friday 6 December 2024, CBA are uplifting our Alternate Servicing policy and process by: 

• Enabling the apportionment of Monthly Living Expenses (MLE) only, without the requirement for the borrower and their spouse to hold shared commitments.  

2. Updates to IO Periods for CBA Loans:

• The maximum IO period for an investment loan is now 15 years, customers can request up to 5 years of IO period at a time.  
• Investment loans with IO period nearing the 10-year mark can request an additional 5-year extension subject to eligibility. 

AMP

Changes to be aware of for self-employed customers:  

• Borrowers must not exceed 8 investment properties (whether financed with AMP Bank or not) plus 1 owner occupied property.
• Borrowers, including companies and trusts, must have no more than 3 trading entities and / or no more than 5 current directorships.

Tomorrow – Coffee and Credit with ME, the last one for 2024!!!– talking all things multiple dwellings on one site!  Free to join – you must register here:

https://www.thebrokersbible.com.au/offers/bcpFGzha

New Product Launch

I’m so happy to finally share the Lunch and Learn Downloadable Pack with you. What started as a simple template pack turned into something much bigger—over 100 templates/ designs for you to choose  from, ready to rebrand your own.  This template pack focuses on helping your clients invest in property and  includes  a number of  LMI waiver programs, to deliver into the workplace and educate your target market.  

I know this took a little longer than expected (sorry to those who’ve been waiting since September!). I just kept coming up with new ideas to make it better, and after spending over 100 hours on it, I’m really proud of the final product.

The best part? It’s super affordable at just $97 + GST. You can download it instantly, rebrand it, and start using it straight away. Everything is done for you!

Running events like this was something I did when I was broking with Property Before Prada. It helped me:

• Build real connections with other businesses.
• Be seen as the expert mortgage broker in my community.
• Meet potential clients by speaking to groups instead of one-on-one.

Focusing on a specific niche or industry made a huge difference for me, and I’ve built that same strategy into this pack. It’s a great way to grow your reputation and generate leads, and it’s something you can easily add to your plan for 2025.

I know this works and I know this will help elevate your 2025 business year and help you achieve your goals!

Download HERE

 See you next week my finance friends!!!

Kath!