Boost Your Borrowing Power by 20% Without Increasing Your Income!
Find Out If You Qualify for the New Streamlined Refinance Policy
💡 Breaking News for Homeowners and Mortgage Holders!
Westpac Banking Group, including Westpac Bank and St. George Bank, has launched a game-changing refinancing policy called Streamlined Refinance. This new policy can help you increase your loan eligibility by up to 20% — even if your income remains the same!
What Is the Streamlined Refinance Policy?
Traditionally, banks use a 3% assessment buffer on top of your current interest rate to evaluate your ability to repay a loan. But with the Streamlined Refinance, eligible borrowers can now be assessed using a reduced 1% buffer, making it easier to qualify for a higher loan amount.
🔍 Example:
If your actual home loan rate is 5%, under the traditional method with a 3% buffer, you’d be assessed at 8%. Under the new policy, you’d be assessed at just 6% — increasing your loan capacity by around 20%!
What Is an Assessment Buffer?
An Assessment Buffer is the extra percentage banks add to your current interest rate when evaluating your repayment capability. It’s a safeguard to ensure you can still repay your loan if interest rates rise in the future.
The new reduced buffer of 1% can significantly improve your borrowing power, especially helpful for homeowners looking to refinance in a tough interest rate climate.
Who Is Eligible for Streamlined Refinance?
Before you jump in, make sure you meet these conditions:
- ✅ Your new monthly repayments must be equal to or lower than your current repayments.
- ✅ You must have a credit score of at least 650 and no missed or hardship repayments in the last 12 months.
- ✅ Your credit report must show no overdue payments above $0 in the last year (codes “P” and “R” are acceptable).
- ✅ Your current mortgage must be over 12 months old, with 10–12 on-time repayments.
- ✅ Other loans and credit cards must show 3–12 on-time repayments in the past year.
- ✅ You can cash out up to AUD 50,000 within the new loan.
- ✅ Your new loan must be P&I (Principal & Interest). Interest-only loans are not eligible.
- ✅ You must declare no foreseeable negative changes in financial circumstances.
Who Is Not Eligible?
This offer does NOT apply to:
- ❌ Interest-only (IO) loan holders
- ❌ Loans with guarantors
- ❌ Debt consolidation loans
- ❌ Loan portfolio refinancing
Why Now?
🏡 Refinance today and take advantage of up to AUD 4,000 cashback from Westpac and St. George Bank!
There’s never been a better time to break free from rigid loan limits and experience the financial freedom you deserve.
📞 Talk to our team at OM Lending Pty Ltd today! We’re here to help you understand the rules, check your eligibility, and design a refinancing plan that works for your future.
💬 Reclaim your financial peace of mind — and feel the sunshine of opportunity again!
Visit our website to learn more: openmortgage.au