Product Selector - Connective Lending

Up to date as of 27 July 2022

Residential

Connective Affinity
For clients who want a fast, straightforward, fully featured digital home loan.

Fully integrated assessment engine into Mercury Nexus where your client’s application is assessed in real-time and approval determined within minutes
Complete a full application and receive approval without leaving Mercury Nexus. Fully digital process end-to-end
No fees at any time during the term of the loan
Purchases and refinance available up to 80% LVR
Fully featured: 100% Offset sub-account with no fees, mobile app and instant payments
PAYG clients only, no self-employed
Min household income of $100k
Max Loan amount $2.5m and one loan/property per client
Cash out up to $200k. No debt consolidation
Max $5M total exposure
Loan types available for Owner Occupier and Investor. Principal and Interest and Interest Only available
Up to 4 units on one title

Connective Elevate
For clients who want flexible home loan options, from prime through to specialist.

100% offset account – no fees multiple splits
Do not credit score, no CCR or DTI-Assessment completed
90% LVR, no risk fee or LMI for Prime product only - Metro Brisbane, Sydney and Melbourne (check postcode locator)
Up to 85% LVR no risk fee or LMI for Owner Occupied and Investor Prime product only in remaining areas (check postcode locator)
Will accept 12 months financials for Near Prime product
Prime Alt Doc (24 months ABN 12 months GST) 2 of the 3 forms of verification, Accountants dec, 6 months BAS or 6 months Business Bank statements. Near Prime Alt Doc (12 months ABN 1 day GST) 1 of the 3 forms above for income verification.
Self-employed: if leases are in the company or trust name, you do not have to expense them. Can add back depreciation to 50% of the net profit. All Director fees can be added back to increase net profit
Can refinance business debt at home loan rates, and can refinance tax debt (Near Prime)
HEM is calculated off a lower overall income where rental income is included. Investment property costs are included in HEM
Path to Prime, rate review annually for Prime, Near Prime and Bi-annually for Specialist
Repayments on home loans can be late. If made up within 14 days, we consider on time and can be Prime
Fully assessed Pre-Approvals

Connective Essentials
For clients who want a simple and straightforward home loan.

No minimum employment term for permanent full-time and part-time applicants. Probation accepted. 1 payslip with 2 pay cycles
Cash out unlimited when NO LMI is used. Only requires stated purpose of funds
Self-employed can use directors declared wages for servicing. Evidenced via last 2 years tax returns and latest Assessment notice
1 year financials for self-employed can now be used for servicing. Talk to your Essentials BDM for criteria
The 3 C’s: Casual, Contract and Commissions, min 6 months in role
Property sizes considered to 240 acres up to 80% LVR and 120 acres for LMI up to 90% LVR (Residential use only)
5% Genuine Savings only required when LVR > 90% + LMI
95% LVR on vacant land – when converted to construction loan must be total loan at 90% LVR
Statements not required for debts not being refinanced e.g. Credit Card, and any loan statements
No annual or ongoing fees, free upfront valuations, no construction progress payment fees
Pre-approvals fully assessed when self-employed applicant > 80% PAYG
Digital mortgage documents available (complete end-to-end digital process)

Connective Select
For clients who want a premium home loan with broad features.

1 year’s financials for self-employed applications that do not require LMI. (talk to BDM about supporting docs)
Self-employed - net profits used. No need to expense company liabilities unless adding backs
100% offset available against fixed rates as well as standard variable rates
Fixed rate is locked in once formally approved (with no fee payable)
Use CCR to determine repayment history
Only need 1 months Declared Living Expenses bank statement
Up to 10 units on title for established dwellings. Max 65% LVR for 4+ units or dwellings on 1 title
Up to 90% LVR on construction loans – max 3 units on 1 title
Non-residents accepted when joint applicants with AU residency
Fully assessed pre-approvals and now Digi Docs for settlements
No annual fees, one free valuation up to $300 per application
Joint debt – 100% debt and 100% rental

Connective Solutions
For clients who want a tailored solution as they may not fit typical lending criteria.

No credit scoring, or DTI assessment completed
Unlimited cash out to 80% LVR (Prime) including business purpose (Near Prime)
Prime Full Doc <85% no LMI
6 months good rental conduct accepted for genuine savings (Near Prime)
Alt Doc options available for self-employed, construction loans & credit impaired
Unlimited debt consolidation for Near Prime, Near Prime Clea and Specialist (includes tax and business debt)
40-year loan terms (Near Prime and Specialist)
Can accept applications for clients with late payments and adverse credit
6 months ABN – Specialist Alt Doc
$0 Notional rent if living at home rent-free
Existing mortgages: are assessed at actual monthly repayment + 25% loading
Common debt reducer (spousal only)
ATO debt accepted for Near Prim and Specialist. Needs to be on a payment plan and expensed
Benefit income can be used for sole income for Specialist loans

Connective Advance
For clients who want to purchase or refinance property for personal or business use.

Up to 80% LVR on houses and apartments in major metro areas
Up to $2 million single property in Melbourne, Sydney & Brisbane (full doc and Mid Doc)
No monthly fees, no reoccurring fees or hidden margin adjustments
Owner Occupied and investment up to 30 years, 5 years Interest Only
No Cross Collateralisation, no delays or additional red tape
Self Employed with ATO debt acceptable
No Credit Scoring. Every deal is manually reviewed
Mid Doc accepts self-certified income supported by Accountants letter, last 2 BAS Statements or 6 months bank account statements, with Flat Risk fee of 0.25%
Full Doc accepts 2 payslips, group certificate or notice of assessment for PAYG or last 2 years financial statements for Self Employed
Rates are based on security purpose (Not Loan purpose)
Flexible cash out for business purpose or commercial debts (≤70% LVR up to $250K &>70% LVR up to $100K stated purpose only, proof otherwise)
Paid Defaults <$1000 accepted (Not sub prime lender)

Commercial and SMSF

Connective Advance
For SMSF, individual or business clients who are looking to invest in commercial property.

Dedicated relationship manager who will workshop and package the deal with you for credit submission – You don’t have to be an expert at commercial loans
Max loan amount up to $4m, single security at 70% LVR (Full doc, Mid Doc & Commercial SMSF)
Max loan amount up to $3m, single security at 75% LVR (Full doc, Mid Doc & Commercial SMSF)
Max loan amount up to $2m, single security at 80% LVR (Full doc, Mid Doc & Commercial SMSF)
Term up to 25 years and 30 years on request
No annual review and no revaluations
WALE vs Term: No reliance on WALE
Cash out and tax debt considered
No clawback
Guarantees from directors only
No requirement for transactional banking
Commercial Full Doc: Assessed on most current year financials (2 years required)

Connective Solutions
For clients who want a flexible commercial lending solution.

Commercial Prime and Near Prime Mid Doc and Full Doc
Dedicated commercial BDM who will workshop the deal with you for credit submission
Apply using AOL
Maximum loan amount $3m, single security at 75% LVR (Full doc, Mid doc & commercial SMSF)
Terms available for 1 year through to 30 years
Ten security types accepted
No annual reviews and no revaluations
Cash out and tax debt considered
Guarantees from Directors only
Directors’ defaults allowed
100% offset sub accounts
Refinance tax debts

Up to date as of 27 July 2022

Residential

Commercial and SMSF

Connective Lending Product Selector

Connective Lending Contacts

Kash Asokan

Connective Lending Manager (VIC)

Abbey Dimovski

Connective Lending Manager (VIC/SA)

Jaynesh Nair

Connective Lending Manager (NSW)

Cassandra Puntillo

Connective Lending Manager(NSW)

Chantelle Ball

Connective Lending Manager (WA)

Aaron Salmon

Connective Lending Manager (QLD)

Toula Wilson

Connective Lending Business & Lending Specialist

Zac O'Connell

Connective Lending Sales Support Specialist

Andrew Tran

Connective Lending Sales Support Specialist

Chris Pearce

National Manager, Sales and Support