Summary of ORDE Policy Changes





1. Self Employed ABN Registration 

Reduced minimum ABN registration period to 6 months on Specialist risk grading. Where an applicant’s ABN registration is less than 12 months the borrower should be able to evidence either two years previous employment within a similar occupation or demonstrate appropriate skills and expertise to operate the business – additional income should be verified via two forms of income documentation. 


ABN  GST  Risk Grade  Income Verification 
> 24 months     > 12 months (where required)    Prime  1 Form 
> 12 months  > 6 months (where required)  Near Prime    1 Form 
> 6 months  > 6 months (where required)  Specialist  2 Forms 



2. Casual Employment 

Reduced minimum casual employment term on Near Prime to 6 months current role or 12 months same industry. 


Risk Grade     Casual Period 
Prime  12 months current role 
Near Prime  6 months current role or 12 months same industry 


3. Self Employed Full Doc Income Verification 

Updated minimum Full Doc requirements to only require one year’s financials for assessment. Where application submitted greater than 6 months from the end of the financial period a recent BAS statement or 3 months trading statements are required. 


Where financials are provided covering a two-year period the higher of the last two years can be used in assessment with a reasonable explanation for the variance and support (via BAS or interims) that current year financials are in line. 


4. Acceptable Income 

Expanded income eligibility and acceptable sources: 


Income Type  Acceptability  Risk Grade 
Second Job  3 months in current employment (6 months if both roles full-time)   Near-Prime 
Contract Income  Minimum of 12 months employment in the same industry and confirmation of contract continuity       Prime 
Board Income  $100 per week per boarder (max of 3) where verified by 3 months bank statements  Near-Prime 
Maternity Leave  100% with confirmation the income period aligns to return to work date  Prime 
Workers Compensation & Income Protection  100% with confirmation income ongoing until retirement age  Near-Prime 
Bonus Income  100% if consistent for 1 year, if paid annually a 2-year average is required  Prime 
Investment Income e.g. interest/dividends  100% where evidenced over 1 year by tax return or portfolio statement  Prime 



5. Business Purpose 

Lending for business purposes including consolidation or cash out now eligible on Prime 


6. Joint Commitments  

For borrowers with non-applicant spouses that can provide evidence of their spouse’s income living expenses can be assessed as a single person assuming income exceeds their living expense contribution. 


For joint owner-occupied commitments 50% of existing commitment can be assessed in servicing with evidence of non-applicants’ income and A&L declaration. 


For joint investment commitments servicing can be assessed based on an assumption of 100% of debt commitment including 100% of rental income and 100% of negative gearing. 


7. Refinance of Non-Prime loans 

Only require 6 months statements on mortgages to be refinanced. 


8. General Security Agreement (GSA) 

No longer a standard requirement for corporate lending above $1m. 


9. Employment Verification 

To assist in streamlining application assessment an employment call is no longer required where two secondary income documents are provided, or employer is an ASX 200 or Government organisation. Secondary documents include: 


  • Most recent Income Statement from MyGov 
  • Letter from Employer 
  • Three months’ salary credits 


10. Expat Borrowers 

New product and pricing for Australian Citizens and Permanent Residents residing or deriving greater than 50% of their income from overseas sources. Both PAYG and Self-Employed income sources are acceptable. 


Please review the updated product guide for a full overview of product features. 


11. Commercial Vacant Land

Acceptable security up to 65% LVR in Category 1 postcodes. Near Prime interest rates and application fee of 1.50% to apply. 


12. SMSF – Individual Trustees 

Added as an acceptable trustee structure for both residential and commercial SMSF loans. 


13. Improved Specialist Lending Assessment  

To help support your customers in need of a solution-based approach to lending we have updated our credit impaired risk grade matrix. 



  • Paid defaults up to $500 


Near Prime 

  • Up to 2 paid defaults where listed over 12 months ago 
  • Unlimited unpaid defaults up to $1,000 
  • Up to 1 month (paid) mortgage arrears 
  • Up to 1 month other arrears 


Near Prime + 

  • Unlimited paid defaults 
  • Unlimited unpaid defaults listed over 12 months ago 
  • Discharged Bankrupt greater than 12 months 
  • Up to 1 month mortgage arrears 
  • Up to 3 months other arrears 


  • Unlimited paid defaults 
  • Unlimited unpaid defaults listed over 6 months ago 
  • Discharged Bankrupt greater than 1 day 
  • Up to 3 months mortgage arrears 
  • Greater than 3 months other arrears 


Specialist + 

  • Unlimited paid defaults 
  • Unlimited unpaid defaults 
  • Discharged Bankrupt greater than 1 day 
  • Greater than 3 months mortgage arrears 
  • Greater than 3 months other arrears