Low Rates, Zero Hassle!

Resi Essentials continues to deliver on its promise of Low Prices and Great Turnaround times.

With our Essential Options Prime home loans, we offer a low variable rate and no ongoing account keeping fees, as well as a personalised approach to assessing applications.

Key Features

  • Flexible loan purposes
  • Redraw and offset available
  • No credit scoring - each application is assessed on its own merits
  • Competitive variable rates with no ongoing account keeping fees

Current Promotions

Current SLA's

Initial Review (confirmation of mandatory supporting documents)

1 Day

Initial Credit Assessment

3 Days

Formal Approval (MIR/Conditional request Satisfied and returned to credit)

3 Days

Mortgage Documents Issued

3 Days

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

ANZ Commercial Broker Update

30-year loan terms for lending up to $3m

ANZ can now offer 30-year loan terms for Commercial Lending limits up to $3m.

The advantage of an extended loan term is that it will provide customers with additional cash flow through reduced monthly repayments.

For 30-year loan terms, the total ANZ aggregate commercial lending limit for a customer is to be no more than $3m.

Commercial property is to be taken as security and must be via the ANZ Business Loan (ABL) product. Further eligibility criteria apply so please contact us or your dedicated aligned business banker to discuss further.

No financials required: Client self-declares their financial performance

For commercial lending up to $1m, there is a loan application process called "Secured Lend" whereby the client self-declares the financial performance of their business and does not need to provide financial or tax returns.

The process is simple and quick ensuring that the client meets the criteria of:

  • The client has been trading for a full financial year
  • Provide: last BAS statement & ATO running tax portal
  • There has been no management or significant financial changes in the last FY

This process can be used for both purchase or refinance and LVRs of 80% on commercial security and up to 100% on residential security are available (if the residential property is encumbered, it scales back to an 80% LVR).

For any questions, please reach out to your BDM.

Credit Policy Updates from TMBL

Effective Tuesday, 17 August 2021, TMBL have made a number of credit policy changes which include the following:

  • An increase to the percentage of Commission and Bonus income accepted to 80%.
  • Investment Home Loan LVRs without LMI will align with our Owner-Occupied Home Loan LVRs without LMI.
  • Maximum LVRs for Home Loans with FHLDS will increase to up to 98% (depending on scheme type).
  • The serviceability assessment floor rate will increase to 5.35%.

As a result of these changes, we have updated our Servicing Calculator and Lending Reference Guide, which are attached.

These changes are applicable across all divisions of TMBL being:

  • Firefighters Mutual Bank
  • Health Professionals Bank
  • Teachers Mutual Bank
  • UniBank

TMBL Home Loan Lending Reference Guide

Loan Origination Servicing Calculator

Broker News Issue 219 - Credit Update

Moneytech: Line of credit & SMEG3

Last Wednesday, the Treasurer, Josh Frydenburg, announced that all businesses with a turnover of up to $250m will now be eligible for SMEG3 loans.

This is great news as Moneytech is an approved lender under the SMEG 3 loan program but more importantly, for customers who are after one of their Low Doc Lines of credit, it now means:

  • Facility limits can go as high as $500,000 for eligible customers
  • Pricing is now a flat rate for all customers:
      • 7.50% interest rate
      • 1.95% service fee
      • $50-$150 per month account fee
      • $795 app fee

MoneyTech Spec Sheet August 2021

*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fast Business Assistance

Commonwealth Bank's ABCD Commercial has expanded its lending policy to include unsecured loans of up to $250,000, making it faster and simpler for businesses to get the finance they need.

Support for your customers

Your clients can now get conditional decisioning on unsecured commercial loans from $50,000 to $250,000, within 24 hours of acknowledging the receipt of a complete loan application. The unsecured loan can be a standalone amount, or your eligible customers could apply for a partially secured position provided the unsecured portion of the loan is no more than $250,000 and the customers lending does not exceed $1m. This means your eligible customers can access the money they need to keep their business running smoothly, even in an emergency.

Why ABCD Commercial?

Here's why ABCD Commercial is the smart choice for CommBank-accredited commercial or asset finance brokers:

  • Fast approvals - Get a conditional decision within 24 hours of submitting a complete loan application.
  • Less paperwork - Commbank's application process and broker checklist are clear and straightforward.
  • Help and guidance - Commbank's dedicated broker team in your state can provide any support you need.

How to apply

  1. Complete the application form at commbank.com.au/ABCDcommercial
  2. Email your application and supporting documents to ABCDcommercial@cba.com.au
  3. Commbank's dedicated team will confirm receipt of your application by email.
  4. You will hear back with a decision within 24 hours (on business days).

Reach out to your BDM for any queries.