Acceptable Loan Purposes: home-loan-1-04

  • Purchase of residential property up to 90% LVR with no LMI.
  • Purchase of brokerage.
  • Establishment of new brokerage.
  • Finance for underwriters (including companies, partnerships or sole traders).

Approval Criteria (Exceptions May Apply):

For Insurance Brokers:

  • Minimum of 5 years industry experience.
  • Minimum of 3 years experience running a successful insurance broking/underwriting business.
  • Strong and stable personal financial position.
  • Evidence of current AFS licence.
  • A minimum of $150,000 per annum annual profit or salary.

For Insurance Underwriters:

  • Copy of all current binder agreements.
  • Minimum total Gross Written Premium (GWP) $1m.
  • Break-up of GWP placed with various Insurance Companies.
  • Minimum number of product lines: 3.
  • No one supplier is to exceed 30% of the Underwriting Agency’s GWP.

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