Weekly Kaths Credit Crunch 10th September

Ubank

From 26 September 2024, home loans with a term of >30 years will only be available for owner-occupied P&I ≤80% LVR purchase applications.

AMP General Updates

• Living expense statements are NOT required however the Customer Declared Living Expenses (CDLE) will be reviewed
• Private Health Insurance and Investment Property costs are required to be included as part of HEM
• $7,500 can be added to gross salary for borrows who receive a fully maintained company car as a condition of their employment when HEM has been used for living expenses assessment (to be confirmed by employment contract or employment letter)
• One year’s bonus – AMP will consider what has been paid in the last 12 calendar months 80%
• Common debt reducer – apportioning of debt based ownership for non-spousal investment properties and expenses verified by AMP statutory declaration, available on Broker Hub

Orde Financial

ORDE’s Residential Construction product is available with alt doc income verification, and require only one form of income verification, such as bank statements, business activity statements, or an accountant’s declaration. 

Policy Spotlight:

🏗️Pre-fabricated, Kit and Modular construction loans – The Brokers' Bible has a full module on this particular policy with 6 residential lenders with an acceptable lending policy.

Events this week

📢 Tomorrow Deep Dive into Bridging Finance  - Free webinar. Register for our Coffee and Credit below:

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

🤑 SME Bootcamp Melbourne 11^th

https://www.theadviser.com.au/smebootcamp/?utm_source=The+Adviser&utm_medium=email&utm_content=native&utm_campaign=Set5

Great opportunity for brokers to upskill and learn and understand more about business lending understanding credit and there is also a session on SMSF. Free – this type of education is gold.

🪷 Colour me with Confidence 12^th September – Sold Out event and I have 2 free tickets as a giveaway! For your chance to win, register your details below and comment SAFE HAVEN.

https://www.thebrokersbible.com.au/contact