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Bankwest: Changes to Credit Policy, Process & Valuations

Bankwest have introduced new assessment and underwriting guidelines effective 20 April 2020. These changes include: COVID-19 additional Responsible Lending Questionnaire Overtime, bonus and commission income capped at 80% Casual income based on lowest payment annualised Additional criteria for self-empoyed applicants Digital valuations being used instead of physical where appropriate

ING: Temporary Credit Policy Changes

ING Bank have made some temporary changes to their credit policy in response to COVID-19 and the impact it is having on business and employment. The changes come into effect from the 15 April 2020 and continue until further notice.

COVID-19 Lender Updates

A wrap up of what the lenders have put in place for customers during COVID-19 disruptions. ANZ Deferring home loan repayments for up to 6 months Reducing home loan interest rates CBA Defer home loan repayments for up to 6 months Reducing home loan repayments to the minimum from 1 May 2020 Dropping interest ratesContinue reading “COVID-19 Lender Updates”