Granite has made some changes to our lending policy covering the way we will handle Verification of Identity (VOI) and our Easy Refinance products. The new policy version, and the below changes, will be effective 18 May 2026.
Digital Verification of Identity (VOI)
From 18 May 2026, all new applications must satisfy identity verification using a Digital VOI service. For pipeline applications submitted prior to this date where manual VOI was completed, a Digital VOI will be required as a condition of settlement and will be managed by our panel solicitors.
Digital Verification of Identity (effective 18th May 2026)
Effective immediately Verification of Identify, for all applicants, must be satisfied by completing a Digital Verification of Identity (VOI) service that uses a combination of:
- biometric facial recognition,
- matching the supplied identity documents against a “selfie”, and
- matching the supplied identity documents against government records via the Document Verification Service (DVS).
Completing VOI digitally and within our origination platform helps reduce the need for additional checks and supports timely progression of applications. The digital VOI may be completed via a third-party service that is not currently available in our origination platform.
Easy Refinance – eligibility and documentation updates
Additional eligibility criteria, documentation requirements and product restrictions apply to Easy Refinance applications submitted from 18 May 2026, including updates affecting visa eligibility, company and trust borrowers, equity release limits and documentation standards.
Easy Refinance Pipeline Treatment
Applications submitted prior to 18 May 2026 will continue to be processed, however may be subject to Requests for More Information where documentation does not meet the revised standards.
Please refer to the below for full detail of the updated policy requirements.
Eligible Mortgages
The existing mortgage being refinanced must be listed on the borrowers Comprehensive Credit Reporting. The following exceptions are allowed.
- La Trobe funded loans*
- SMSF loans**
* La Trobe as of the date of this document is not currently a CCR participants however this may change.
** Please note that SMSF trustees must be a company.
Acceptable Permanent and Temporary Resident Visa List
Australian Permanent Residents with an acceptable visa
100, 103, 111, 114, 115, 116, 119, 120, 121, 124, 132, 134 136, 137, 138, 139, 143, 151, 155, 157, 173, 176, 186, 187, 189, 190, 191, 200, 201, 202, 203, 204, 800, 804, 808, 814, 835, 836, 838, 855, 856, 857, 858, 864, 866, 885, 886, 887, 888, 890, 891, 892, 893.
Temporary Residents acceptable visa list
160, 161, 162, 163, 164, 165, 188, 300, 309, 310, 401, 403, 405, 407, 410, 415, 416, 420, 422, 423, 428, 444, 457, 461, 475, 482, 485, 487, 491, 494, 590, 790, 820, 870, 884.
Note: Expats are accepted (An Australian Citizen that does not reside in Australia or New Zealand, a Permanent or Temporary Resident of Australia with an Acceptable Visa or a New Zealand Citizen that does not reside in Australia or New Zealand.)
Temporary Residents Student visa (subclass 500) no longer accepted
Effective from the 18th May, we will no longer accept Easy Refi home loan applications where one or more applicants holds an Australian Student visa (subclass 500) temporary resident visa.
All applications received prior to 18th May, where one or more applicants hold a subclass 500 temporary visa, and have either been conditionally or formally approved and yet to settle will be reviewed and considered on a case-by-case basis.
Additional Eligibility Criteria
- Company and Trusts must have been established for a minimum of 24 months.
- Written explanation to be provided with the application for any lump sum payments or withdrawals greater than $50,000 identified on the supplied loan statements.
Future additional pricing increase for Standard Easy Refi applications where the applicant type is a Company or Trust
In future, Interest Rate Loading will apply to all Standard Easy Applications where the borrower type is a Company or Trust. The pricing increase will be communicated in due course.
Documentation Requirements for PAYG, Self-Employed
Most recent loan statement AND Transaction / Savings / Offset facility statement
Most recent loan statement: For the mortgage being refinanced is required covering a minimum of 90 days (3 months) and must confirm the account name and account number, credit limit, current balance, current repayment amount and current interest rate.
- Where the loan statement is greater than 60 days old then an account transaction listing must also be provided. The account transaction listing must confirm the account name and account number and must not have a gap between the closing balance of the loan statement and the opening/running balance of the account transaction listing.
Transaction / Savings / Offset facility statement: Covering the same period as the loan statement (and transaction listing if applicable) providing evidence of source of the loan repayments.
Documentation Requirements for SMSF Company and Trust Borrowers
- Loan statement covering a full twelve (12) months for the mortgage being refinanced is required and must confirm the account name and account number, credit limit, current balance, current repayment amount and current interest rate.
- Where the loan statement is greater than 60 days old then an account transaction listing must also be provided. The account transaction listing must confirm the account name and account number and must not have a gap between the closing balance of the loan statement and the opening/running balance of the account transaction listing.
- Business Bank account statements covering the last 90 days (three months)
- Transaction / Savings / Offset facility statement covering the last 90 days (three months where the loan repayments are not being paid from the supplied business bank statements.
Available Redraw and Equity Release
- Available Redraw
The available redraw balance is always linked to your current credit limit.- The borrower may retain access to their available redraw under the existing credit limit, provided that the redraw amount cannot exceed 30% of your current loan balance.
- Equity Release (Cash Out)
Equity release is any additional amount the borrower is requesting above the current credit limit as part of a refinance.
Under the Standard Easy Refinance product policy, equity release is currently limited to 3% of the security property value, capped at $50,000.
