Cash Out Guidelines
- For low doc loans with an LVR <= 70% when the equity release or cash out is > $500,000 the stated purpose must have supporting documents.
- In all other cases purpose only is required.
- For low doc loans with an LVR > 70% to max 80% where equity release or cash out is equal to or less than $100,000 only a stated purpose is needed.
|Equity release / Cash Out||LVR||Purpose Confirmation||Minimum Income Verification|
|<=$100,000||<=80%||Stated Purpose Only||Accountant's Declaration for Loan amount <=$1,000,000
BAS for Loan amount or customer total exposure >$1,000,000
|>$100,000||<=70%||Stated Purpose only.
If Equity release > $500,000 Stated Purpose must be supported by evidence.
|Last four BAS required.|
The above guidelines are a guide only and are subject to change at any time. They can and do change regularly.
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