In this article:
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 LVR’s without LMI will align with our Owner-Occupied Home Loan LVR’s without LMI.
- Maximum LVR’s 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