🏦 1. LoanMax Now Requires 6 Months ABN for Low-Doc Deals
What’s new:
LoanMax has updated its self-employed criteria — brokers must now show a minimum of 6 months ABN activity (up from 3 months) for all low-doc applications.
Why it matters:
Short-term ABN clients (e.g., new sole traders) are now excluded unless they can prove business continuity through other means.
✅ Broker Tip: Position deals with FlexFinance or NovaLend instead, which still accept 3 months in certain cases.
📈 2. Rate Adjustments on Green Property Loans
What’s new:
EcoBank reduced its Green Home Loan rates by 0.15% for properties with a 7+ star NatHERS rating.
Why it matters:
This creates a talking point for brokers targeting first-home buyers in new estates or sustainable builds.
✅ Broker Tip: Filter leads who qualify for this incentive and consider a targeted EDM campaign with “Save the planet (and your repayments)” angle.
⛔ 3. RapidFund Suspends Asset Refi for Older Trucks
What’s new:
Effective immediately, RapidFund has paused refinancing deals for commercial trucks older than 7 years.
Why it matters:
Transport clients trying to reduce repayments may need alternative solutions.
✅ Broker Tip: Flag this early with clients and look into EquipmentEdge or FinTrucks, who offer flexible refi options for vehicles up to 10 years old.
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