1. Automated Valuation Model (AVM) and Executed Contract of Sale (for purchases only)
2. Max loan amount Increased to 2M
3. Alt doc is available up to 1M
Signed and Date Borrowers Alt Doc Borrower Declaration of Financial Position, and
• Accountant’s Declaration, or
• 6-month BAS Statement
4. Director Wages are accepted as PAYG Income
Financial and Tax returns are not required, if:
a. • Business is trading either via company or trust structure.
b. • Applicant is a director of the company and company has been trading for a minimum of 2 years.
c. • No limitation on applicant’s ownership of the company.
d. • Letter from accountant is provided confirming business is trading profitably and meeting all its current liabilities including wages and is not in default of any financing arrangements.
Applicant/s must supply one of the following to verify employment:
• 3 months of director’s wage salary credits to verify their income; or
• ATO income statement with minimum 3 months history; or
• One current payslip showing more than three months YTD income.
5. Acceptable securities
6. Interest Rate Update
7. New no clawback product
Smart Plus: Establishment Fee 1.1% NO clawback.