Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Suncorp changes product policy

Staff Reporter 1 minute read

Suncorp has issued changes to its loan criteria and borrower assessments.

The lender has made several credit policy chnages to help it comply with the upcoming National Consumer Credit Protection Act, which come into effect from 1 January.

The credit policy changes include asking for extra detail on a customer’s monthly living expenses and extending the serviceability buffer from 0.65 per cent to 1.25 per cent.

The lender’s executive manager of personal lending Tony Meredith said the changes were not big and should only mean each broker has to spend approximately 10 extra minutes with each potential borrower.

Suncorp changes product policy
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...