1. Flimsy overall policy
2. Black and white credit policy - very similar to AMP
3. Terrible borrowing capacity
4. Only allow for 2 offsets per client/couple
5. Terrible cash out / equity release policy
BUT they are great for funding an over 55's development and for vanilla commercial securities.
From a borrowers perspective these may seem draconian, but from a lender's business robustness perspective they could be considered, dare I say, downright prudent if GFC MkII ever rears its ugly head.