ANZ staff lend 90pc no lmi?

Your boss wont know you have even applied for a loan.

Westpac is max 85% for IO and 90% for P&I. Funny thing is that a Westpac employee can get 90% for both IO and P&I with St George.
it would be funny if a relatively low paid employee went for a $1m loan and the boss found out, or if it was IP number 5 or 10
 

Brady

Big 4 Banker
Hi everyone

Does anz offer its staff 90pc lend without lmi?

What's the full policy? Eg How long do you have to work there before you get that, does it apply to ppor only or can you use it for IP too?

Thank you in advance
CBA will offer it to other major bank staff.

2 years employment minimum

Need to speak to bank direct, brokers can't assist

No issue with IO
 
Yep its the same. The benefit is just going to be the LMI waiter which IMO is huge and you should definitely consider taking advantage of it (assuming it fits your longer term strategy).

Their LMI waiver is much better than some of the other lenders' policy like Westpac.
That's a shame. My employer offers 3.85% variable, full offset, no fees, IO loan at 90% LVR with no LMI. Owner Occupied or Investment.
 
CBA will offer it to other major bank staff.

2 years employment minimum

Need to speak to bank direct, brokers can't assist

No issue with IO
Oh damn, I'm only 9 months in. And also a CBA customer, do they do any exception Brady? It will save me a lot of headache with accumulating deposit :p
 

Brady

Big 4 Banker
Oh damn, I'm only 9 months in. And also a CBA customer, do they do any exception Brady? It will save me a lot of headache with accumulating deposit :p
So far I've only been able to get exceptions for CBA Staff members not meeting the exact criteria. Response from Senior Product Manager for an exception to the package for non staff was that "We're very strict on the BPP criteria especially for those that aren't CBA staff..."

What was your role prior?
 
So far I've only been able to get exceptions for CBA Staff members not meeting the exact criteria. Response from Senior Product Manager for an exception to the package for non staff was that "We're very strict on the BPP criteria especially for those that aren't CBA staff..."

What was your role prior?
Digital marketing in an agency. Non bank at all. Now I'm in a bank :)
 

Peter_Tersteeg

Finance broker/strategist
Most banks have codes on their files - so if you look into the file it sent an alert. Mostly common on celebrity accounts.

Other than morally wrong - it would be silly for someone to go into someone else's account.
About 20 years ago I worked for an IT company contracted to write and maintain databases for the white and yellow pages directories. The software around the databases was written with inbuilt auditing systems. If someone accessed anything, it was all logged, even if it was a simple transaction to look up a phone number. The banks ran similar systems at the time and I believe much of those 80s and 90s era software still exists today, no doubt the auditing components are still around.

As a developer there were ways of circumventing these protocols quite easily. If I wanted the Prime Ministers phone number, I could have gotten it and hidden the access as part of my work. We were working with the absolute bottom level of the code however, we had access that Telstra and Sensis didn't have. There was way anyone not working at a code level could have done what we could do without raising questions.
 
I can only speak for one banks systems but it depended on the program used and what was done as to whether it was logged or not.

They tell you everything is logged and audited which it is (mostly) but nothing alerted or actioned upon unless the proverbial hit the fan for whatever reason and access history is looked back upon.
 
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