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As the self-managed superannuation fund residential borrowing ban looms and lenders jostle for market share, significant policy tweaks have come from the likes of Pepper Money and La Trobe, while AMP and Wave Money have launched new lending products to the broker market.
Pepper Money expands lending capacity
Pepper Money has announced a raft of policy changes to expand its lending capacity across a wider range of scenarios.
The non-bank increased its maximum loan-to-value ratio (LVR) to 98 per cent (including lender protection fee) across all property categories (1–4), including high-density units while also increasing its maximum loan size limits.
The lender has tripled the maximum loan size at 98 per cent LVR to $3 million and doubled the maximum loan size at 80 per cent LVR to $5 million. It has also introduced 95 per cent LVR (including lender protection fee) across its alt-doc solutions and reduced the minimum unit size requirement to 30 square metres.
The changes apply across Pepper Money’s Prime and Near Prime Clear products and will also be rolled out to its white label partners.
AMP launches 40-year investor loan and updates lending policy
AMP Bank has launched Equity Flex, a new investment loan offering terms of up to 40 years with up to 10 years of interest-only repayments without reassessment for eligible borrowers.
The product is available for investment loans of $100,000 or more with LVRs of up to 80 per cent, with serviceability assessed over a maximum 30-year principal and interest term.
The lender has also introduced a range of policy tweaks across its home and investment lending products. AMP now accepts downsizing as an eligible exit strategy (subject to assessment), no longer requires exit strategies for rentvestors, and has removed Net Monthly Surplus as a stand-alone assessment input.
It has also increased the threshold for mandatory quantity surveyor reports from construction contracts over $1 million to over $2 million, with requirements now based on construction contract value rather than total loan amount.
Lastly, AMP Bank will stop accepting new SMSF SuperEdge pre-approvals from 5pm on 3 August ahead of upcoming legislative changes taking effect on 10 August.
To proceed under the current arrangements, borrowers must have a contract of sale signed and exchanged by 9 August 2026. Contracts dated 10 August or later will not be accepted.
La Trobe streamlines SMSF refinance policy
La Trobe Financial has introduced a new SMSF Fast Refi pathway that allows eligible SMSF refinance applications to be assessed using demonstrated repayment history instead of a traditional serviceability assessment.
The policy is available for dollar-for-dollar refinances, plus eligible costs, up to 80 per cent LVR on residential and commercial properties. Borrowers must have held their existing loan with an approved lender for at least 12 months, demonstrate a strong repayment history and refinance to lower monthly repayments. The pathway is available to SMSFs with a corporate trustee only.
La Trobe said the changes are designed to simplify the refinance process, reduce documentation and help brokers deliver faster outcomes for eligible clients.
Bank First expands LMI waiver offering
Bank First has expanded its LMI waiver to eligible borrowers employed in the healthcare and education sectors.
The policy applies to owner-occupied purchases of established or completed properties that will be the borrower's principal place of residence. Eligible borrowers can access lending of up to 90 per cent LVR without paying an LMI premium, with a maximum loan amount of $1.5 million. The policy does not apply to construction, refinance or cash-out loans.
Wave Money launches small-ticket commercial loan
Wave Money has launched a new small-ticket commercial lending product, allowing brokers to write commercial property loans of up to $1.3 million.
The product offers lending of up to 80 per cent LVR, loan terms of up to 30 years, and full doc, alt-doc and lease doc options. It is available for metropolitan commercial properties used for owner-occupied and investment purposes, with lending available to individuals, non-trading companies and trusts.
Teachers Mutual Bank joins Help to Buy panel
Teachers Mutual Bank Limited has joined the federal government’s Help to Buy shared equity scheme, with the program available across its Teachers Mutual Bank, UniBank, Firefighters Mutual Bank and Health Professionals Bank brands.
The scheme is available directly through the lender from 27 July and will open to its accredited mortgage broker network on 6 October following an initial pilot period.
Help to Buy allows eligible owner-occupiers to purchase a home with a minimum 2 per cent deposit, with the government contributing up to 40 per cent of the purchase price for a new home or up to 30 per cent for an existing home in exchange for an equity stake.
TrailBlazer increases Trail Xpress lending limit
TrailBlazer Finance has increased the maximum funding available through its Trail Xpress loan book-backed lending facility from $150,000 to $200,000.
The product allows eligible brokers to borrow against the recurring income and underlying value of their trail book without property security or an upfront valuation fee. It is available to eligible brokers with Australian Finance Group, Connective, Loan Market and PLAN.
Thinktank withdraws residential SMSF approvals in principle
Thinktank will stop accepting new residential self-managed super fund approvals in principle from the close of business on 31 July 2026.
Residential SMSF purchase applications supported by a fully executed contract of sale will continue to be accepted, provided the contract is signed and dated on or before 9 August 2026. Applications can still be lodged after that date, provided they meet the contract date requirement.
Aware of a product or policy update that brokers should know about? Leave it in the comments below.
See last week’s policy changes here.
[Related: Product policy tops broker recommendations]
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