1. No limit cash out up to 80% LVR. For LVR's >80% and ≤90% cash out is limited to 20% of property value; no cash out for LVR's greater than 90%.
2. Up to $250k Cash Out for Purchase, Renovation, Investments ≤80% LVR or >80% LVR and <$100,000. Other purposes up to $100k for all LVR's. Written advice from the customer on the purpose of funds (or written advice from a ME Salesperson or Broker, outlining the conversation with the customer) is required.
3. 100% parental leave for servicing must be Government or Employer paid income before returning to work. Understanding of capacity for loan repayment(s) during any unpaid period of the parental leave must be demonstrated and verified with supporting document. This may include but is not limited to savings or investments held (only applicable for unpaid period). Meeting this requirement, ME will consider return to work income too.
4. Up to $7,500 add-back for novated lease Limited to the lesser of $7,500 or the annual lease repayments.
5. 100% of overtime can be used for Doctors, Nurses & Medical/healthcare professionals and frontline and key workers in healthcare, outpatient, residential care, social assistance and disability support services, Primary and Secondary Teachers, and pre-school/early childhood educators including kindergarten and child care services, Ambulance Officers, Fire Fighters and Police Officers, Australian Defence Force employees, Australian Border Force employees and Corrective Services employees within correctional centres, detention centres and prison services. Otherwise, overtime used at 80%.
6.
Cashback terms and conditions.
A $2,500 cash back offer is available on refinances of an existing home loan from another financial institution with a minimum new lending of $250,000. To be eligible for this offer, applications must be received between Friday, 01 July 2022 and Wednesday, 31 August 2022 (inclusive) and settled by Wednesday, 30 November 2022. Not available for the refinance, restructure, switches or top ups of home loans from ME or from other lenders within the Bank of Queensland (BOQ) Group which includes BOQ, BOQ Specialist and Virgin Money (Australia).
This offer is available to Owner Occupier and Investors on all ME home loan products, except construction loans and owner occupied loans with interest only repayments. A home loan application involving both a purchase and refinance are acceptable, provided all other eligibility criteria is satisfied. Loan to valuation ratio must be 80% or less. Only one $2,500 cash back can be received per qualifying home loan application regardless of the number of borrowers. In the case of multiple qualifying applications, only one $2,500 cash back can be received per separate security property.
Eligible refinance applications received by ME prior to 31 May 2022 will get the previously advertised $3,000 cashback offer.
The cash back amount will be paid within 60 days of loan settlement into the ME Everyday Transaction Account (ETA) held by the borrower first listed on the application. In the event the first listed borrower doesn’t hold an ETA, the cash back will be credited to the home loan it applies to. Terms, conditions, fees and charges apply. Applications are subject to credit approval. The offer can be withdrawn or varied at any time.