ANZ Update: submitting your own home or personal loan

May 29th, 2017

ANZ have made some changes to their policy regarding broker self-submitted home loans and personal loans. A broker self-submitted home loan or personal loan is where the broker is a party to an application that they are submitting under their own broker code (e.g. sole applicant, joint applicant or guarantor).

As of June 5, 2017, ANZ will:

1. No longer accept a loan application that the submitting broker is a party to. This includes residential home loans, loan change requests (Streamlined, Credit Critical and Non-Credit Critical), as well as personal loans.

2. A broker’s own home and personal loan applications will need to be submitted via an alternative method (e.g. another broker or directly with ANZ).

3. ANZ will decline any applications received directly from the submitting broker if it falls into these self-submitted categories.

ANZ have made this decision in line with their commitment to responsible lending practices and their obligations under the National Consumer Credit Protection Act (NCCP) 2009. Any applications which were already submitted prior to June 5, 2017 will be assessed under the previous policy. Applications received on or after this date must be submitted under these new policy parameters. If you have any questions, please contact your ANZ Residential BDM.