Verification and Assessment of Bonus Income

December 19th, 2017

Effective Monday, 18 December 2017 the conditions relating to bonus income when assessing serviceability were updated. Former policy allowed the lesser of either 80% of the lowest of the most recent two years gross bonus payments, OR 1.5% of the total home loan being applied for. The revised policy has been simplified to 60% of the lowest of the most recent two years’ gross bonus payments.

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