Flexi Options Policy Improvements

Changes to treatment of income

Commission & Bonus income

Supportive information has changed. It is no longer required to be a condition of employment or permanent. Instead, the payment must be regularly received and evidenced over 24 months.

Overtime income

Supportive information has changed. It is no longer required to be a condition of employment or permanent. Instead, the payment must be regularly received and evidenced over 12 months.

Applicants employed by family members

No longer require any additional supporting documentation above what is required with their employment type

Voluntary superannuation payments

must be confirmed in broker notes that applicant that they are aware that the payment may have to cease

Other policy changes

No limit credit cards

The Bank considers 'no limit' credit cards as those that must be paid in full each month such as AMEX or Diners. For assessment purposes, these need to be included under the applicant's living expenses. Ensure the applicant's total purchase amount and cash advances are disclosed.

Bank statements

Internet transaction listings without a running balance are now sufficient to cover bank statement requirements, provided they contain the applicant name, the full account number and the logo and name of the FI is displayed

Transaction Account statements

Transaction account statements are required for the applicant's main transaction account along with any accounts that PAYG income is paid into.

YBR Flexi options rate highlights

  • O/O P&I up to 90% LVR Variable 3.14%
  • O/O P&I up to 90% LVR Fixed for 2 or 3 years 2.99%
  • Investment Variable up to 90% LVR 3.44%
  • Investment I/O up to 80% LVR 3.74%

Product Highlights:

  • NRAS properties up 80% Refinance
  • Construction up to 95% For O/O
  • Construction of up to 4 units on one title
  • O/O lending starting at 3.14% P & I Variable
  • Bridging Finance Servicing on end debt only
  • No Credit Scoring below 80% LVR
  • Investment lending. Starting at 3.44% P & I variable
  • Investment lending up to 90%
  • Offset account available on all loans including fixed

For all supporting document checklists, service calculators and rate cards please go to:

https://www.vow.com.au/resi-home-loans

Or contact our sales team who will be more than happy to assist with any scenario or question:

For general enquiries, please call 1800 737 448

Please select any of the below options:

Option 1 for theSales team or brokersupport@resi.com.au

Tony Wakim: NSW BDM on 0416 409 100 or tony.wakim@resi.com.au

Jason Hulbert: VIC BDM on 0468 755 419 or jason.hulbert@resi.com.au

Option 2 for Credit team or credit@resi.com.au

Matthew Cragg: National Credit Manager

Option 3 for Service team or service@resi.com.au

Celina Tramontini: National Service Manager