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Among the changes are Ubank moving into sole trader lending, Bizcap and ScotPac updating their product line-up and Commonwealth Bank of Australia updating a range of policies.
Ubank expands home loan policy for sole traders
Ubank has updated its income verification policy, allowing eligible sole traders to apply for home loans using one year of individual tax returns and a matching Australian Taxation Office Notice of Assessment.
Applicants must have a continuously active Australian Business Number for at least two years and demonstrate a minimum two-year continuous profitable trading history. Lending is capped at an 80 per cent loan-to-value ratio (LVR), with a maximum loan term of 30 years.
The applicant’s most recent financial year-end must be no older than 21 months. The policy is available through Ubank’s network of more than 17,000 accredited brokers, with approval turnaround times of around two days for eligible applications. Complex trust structures and construction lending are excluded.
Resimac joins 5 per cent Deposit Scheme
Resimac has joined the federal government’s 5 per cent Deposit Scheme lender panel, becoming the second non-bank lender to participate, bringing the panel to 55 lenders.
The Resimac Quickstart – 5 per cent Deposit Scheme loan offers redraw and offset accounts, with no application or ongoing fees, although a settlement fee applies. The scheme loan is available to eligible Australian citizens and permanent residents, with a 3 per cent serviceability buffer applied.
Brokers must submit a completed, signed and witnessed 5 per cent Deposit Scheme Home Buyer Declaration with applications through ApplyOnline.
ScotPac expands business lending limits
ScotPac has increased its Line of Credit lending ratio from 150 per cent to up to 200 per cent of monthly sales in Australia. The maximum Australian lending limit remains $500,000.
Its Boost Business Loan (Term Loan) now offers three funding bands, ranging from $10,000 to $500,000. The lender has also streamlined assessments for its Asset Finance Lite Doc product using bank-statement data analysis, with decisions possible in as little as 48 hours.
Bizcap doubles Fast Business Loan limit
Bizcap has doubled its Fast Business Loan limit from $500,000 to $1 million, allowing eligible Australian small and medium-sized enterprises to access larger unsecured funding without property security.
The expanded limit is aimed at established businesses seeking working capital for expansion, equipment, stock and staffing.
Commonwealth Bank of Australia updates broker policies
Commonwealth Bank of Australia (CBA) has announced several policy and process updates for brokers:
- Rental income verification: from 9 October 2026, CBA accepts the Cotality Estimated Rental Amount Property Report to verify estimated rental income for untenanted properties.
- Verification of identity: from 23 November 2026, CBA will simplify customer identity checks to meet Land Titles Office and Australian Registrars National Electronic Conveyancing Council requirements.
- Joint mortgage advantage packages: from 21 October 2026, CBA will identify and remove customers from joint packages if they no longer hold an eligible linked home loan.
- Income calculator: CBA updated its Home Loan Income Calculator and instructions for calculating income using year-to-date earnings on 19 October 2026.
- 5 per cent Deposit Scheme construction loans: customers who have settled under the scheme must obtain Housing Australia approval for construction loan term extensions or increases to their loan amount.
- Credit card applications: from 20 November 2026, eligible home loan customers may receive an optional credit card offer through a simplified application process for Ultimate, Smart, Low Fee, Low Rate and Neo cards.
Better Mortgage Management updates SMSF rates
Better Mortgage Management has updated its commercial and residential self-managed super fund (SMSF) loan rates to reflect the Reserve Bank of Australia increase.
- Commercial SMSF loans: principal and interest rates start at 7.64 per cent, with interest-only rates from 7.94 per cent. Rates rise to 7.97 per cent (P&I) and 8.27 per cent (I/O) for LVRs below 75 per cent and 80 per cent.
- Residential SMSF loans: P&I rates start at 7.15 per cent and interest-only rates at 7.45 per cent. Rates reach 7.50 per cent (P&I) and 7.80 per cent (I/O) for LVRs below 75 per cent and 80 per cent.
- Features: both products include an offset account at no additional cost. Residential SMSF loans also offer a simplified refinance option with less paperwork, subject to conditions.
- Fees and commissions: commercial loans have no risk fees listed. Residential loans have no risk fees or LMI listed across the stated LVR tiers. Both offer 0.60 per cent upfront and 0.15 per cent trail commission.
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: Four 2026 rate hikes deal $90k blow to borrowing capacity]
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