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Lots of the changes this week have revolved around LMI waivers for key professions, as well as valuation changes, but we’ve also seen some hiking of fixed rates prior to the next cash rate decision.
Bankwest expands LMI waiver eligibility
Bankwest has expanded its LMI waiver offering to several new groups of PAYG employees while also broadening the lending purposes available under the waiver.
The expansion adds lawyers, accountants, selected professional, and managerial federal government employees at APS6, EL1, EL2, and SES levels, as well as employees of selected large and second-tier banks and their subsidiaries and selected large technology companies. The existing medical professional eligibility remains unchanged. Employees of the banking and technology groups must have been in their role for at least six months.
Eligible borrowers can use the LMI waiver for owner-occupied and investment P&I lending, including purchases, refinances, construction, and cashout.
The waiver does not apply to interest-only lending, self-employed income, foreign income, family support guarantees, higher duties, or certain high-density, restricted-postcode, regional, and Category B properties.
RedZed cuts commercial lending rates
RedZed has reduced its commercial lending rates, with pricing now starting from 8.18 per cent p.a. for commercial loans.
The lender said the changes apply across lending for self-employed borrowers looking to purchase, refinance or unlock equity in commercial property. Its offering includes self-certified income declarations supported by accountant declarations, Business Activity Statements or business trading statements for borrowers with more complex financial circumstances.
ANZ increases selected fixed home loan rates
ANZ has increased selected fixed rates across its owner-occupied and residential investment loans, with changes taking effect 17 September 2026.
Rates have increased by 10–20 basis points across one- to five-year fixed terms, covering both principal-and-interest and interest-only lending, at LVRs both above and below 80 per cent.
For owner-occupiers, new P&I rates range from 6.49 per cent to 6.69 per cent at 80 per cent LVR or below, while investment P&I rates range from 6.59 per cent to 6.79 per cent. Higher-LVR rates are also available, with pricing varying by term and repayment type.
Bank of Sydney offers LMI-free lending to select professionals
Bank of Sydney is offering eligible professionals lending up to 90 per cent LVR without LMI for owner-occupied principal-and-interest and owner-occupied construction loans.
Eligible professions span education, healthcare, emergency services, finance, property, construction, engineering,and science. They include registered teachers; a range of medical professionals; firefighters and police officers affiliated with relevant state associations; CA, CPA, and IPA accountants; FIAA actuaries; CFA financial analysts; architects, project managers, quantity surveyors, planners, and surveyors; and eligible engineers, geologists, geophysicists, and hydrogeologists.
ME Bank expands upfront valuation limit
ME Bank has increased the maximum property value eligible for an upfront PropertyHub valuation from $2 million to $3 million, effective 14 September 2026. Eligible property types and locations remain subject to PropertyHub guidelines.
ME has also added a question asking whether the property has been recently renovated to support valuation accuracy and potentially reduce follow-up queries.
Applications submitted before 14 September will continue to be assessed under the existing valuation process.
Better Mortgage Management cuts Lease Doc rates
Better Mortgage Management has reduced rates on its Lease Doc commercial lending product, with pricing starting at 7.54 per cent for loans below 65 per cent LVR.
The product offers P&I and interest-only rates of 7.54 per cent below 65 per cent LVR and 7.99 per cent below 70 per cent LVR, with a 0.50 per cent risk fee and commission of 0.60 per cent upfront plus 0.15 per cent trail.
Loans are available up to $3 million with terms of up to 30 years and no reviews. Servicing is based on lease income versus loan interest, with rental income from a current lease accepted where more than 12 months remain. The lender also said there is no clawback.
The lender has also moved Loanapp V2 live across all integrated aggregator platforms, meaning applications lodged through integrated aggregator CRMs will now flow through the updated system. Better Mortgage Management said the new version includes a number of enhancements to the lodgement process, particularly for SMSF loans.
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: Non-bank turnaround times stretch beyond a week]
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