• Standard Variable Rate (SVR) Home / Investment Hone Loan;
• 1 to 5, 7, 10 & 15 Year Fixed Rate Home / Investment Home Loan;
• Variable and Fixed options;
• Rate Saver Home / Investment Home Loan (excluded 3 Year Special Rate Saver);
• Line of Credit (excluding Companies); and
• MAV (except where the amount of the loan exceeds 60% of the value of the property, as determined by us).

Low Doc loans at origination are not available on:

• No Fee Variable Rate
• 1 Year Guaranteed
• 12 Month Discounted
• 3 year Special Rate Saver
• Equity Unlock for Seniors
• MAV where the amount of the loan exceeds 60% of the value of the property, as determined by us.

• Customers must have 20% equity in all cases. This equity cannot be provided as an unsecured facility (e.g. personal loan).
• There should only be one declaration provided per self-employed customer and if there is a need for more than one declaration per application for the same time period a suitable explanation is required as to the variance on the declared income.

In addition to the standard eligibility requirements for the Bank's home loans, customers must also meet the following:

• At least one customer must be self-employed in the same industry (within Australia) for at least 1 year).
• Where customers have not been self-employed for one year, the application generally will not be suited to a Low Doc option.
• An ABN search will need to be completed for all self-employed customers to confirm the following:
  • The business has an active ABN for a minimum of 1 year.
  • The business is registered for GST for a minimum of 1 year.

Notes:

• Where an acceptable mitigant has been provided, the Bank can consider application where a customer has been self-employed for less than 1 year within Australia. In these cases;
• At least 1 customer will be currently self-employed for a minimum of 6 months and will have previously been employed in the same industry for at least 1 year.
• Customers who cannot provide Business Activity Statements (BAS) and/or are not GST registered may be considered under a Full Document Self Employed (excludes Low Documentation Loans) application.

In addition to the standard excluded borrowers for the Bank's home loans, refer to Customer Eligibility, the following exclusions apply:

• Customers who cannot prove Business Activity Statements (BAS) and/or are not GST registered
• Loans where a guarantor / third party is providing security support with the following exceptions of:
  • Security Support - 
    • where the guarantor is a spouse/partner/de-facto, or
    • where the borrower is a company and the guarantors are directors, or 
    • the borrowers are directors of a company and the company is the guarantor
  • Servicing support
    • where the borrower is a company and the guarantors are directors

Note: 

Servicing support guarantors and joint servicing and security support guarantors are only accepted for non-personal borrowers (i.e where at least one borrower is a company or a company acting as a trustee for the trust)

• When Loan to Valuation Ratio (LVR) is less than 60%, the minimum loan amount is $20,000.
• When LVR is greater than or equal to 60%, there is no minimum loan amount

• When the Loan to Valuation Ratio (LVR) is less than or equal to 60%, there is no maximum loan amount
• When LVR is greater than 60% but less than or equal to 80%, the maximum loan amount is $2.5 million (subject to Genworth approval)
• Where the LVR is greater than 80% a Low Documentation Loan cannot be approved

In addition to the Home Loan / Investment Home Loan excluded purposes, the following exclusions apply:

• Refinancing of any existing loans where the original funds were acquired for business purposes
• Loans for working capital
• Loans for payment of personal or business tax liabilities