Credit Policy Updates from TMBL

30th Aug, 2021 | Branch News 31st August 2021

In this article:
Effective Tuesday, 17 August 2021, TMBL have made a number of credit policy changes.

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
  • UniBank