Frequently Asked Questions

Do you fund Commercial properties under an SMSF?

Yes, we fund purchases or refinances of Commercial properties up to 80% LVR. We accept standard commercial properties such as warehouses, factory units, office suites, retail shops, childcare centres, and serviced apartments. We would not accept vacant land, farming, stables, hotels, storage units, or more specialised securities

Can I use an Accountant's Letter to verify for servicing an SMSF?

Yes, but only to aid with/in addition to the historical Mandatory Contributions, which are capped at 10% of a client’s income (for Self-employed: 10% of taxable income; for PAYG: 10% of gross income). This letter is to cover Additional Contributions or future contributions (not in lieu of historical contributions).

How do I calculate a self-employed client's contributions if they are inconsistent?

We accept the LOWER of the last two financial years’ lodged contributions. If the contributions are lumpy, this is still acceptable. Please ensure your client has held an ABN for at least 24 months.

What if my clients receive allowances/ bonuses/ commissions on top of their PAYG Base? Will you accept this income?

Yes, we will. For allowances or overtime payments, please ensure your client has demonstrated this over a minimum of 6 months—we will take this income into account from their PAYG summary. For bonuses or commissions, we require this form of variable income to be demonstrated over two years and will use the lower of the two years.

Do you offer an offset account?

Yes, we do. It is optional, so if you want one, please request it upfront within your LoanApp submission via the TICK box under Product Features. We offer offset accounts on both Residential and Commercial SMSF loans. 

Do you fund SMSF Commercial? If so, what's the max LVR and loan amount?

Yes, up to 80% LVR, depending on security type and postcode location, to a max loan size of $3m. 

How do you calculate service thresholds?

Servicing is done wholly within the SMSF and does not involve external servicing. We calculate servicing based only on confirmed SMSF contributions over the last two years, including the rental income and the SMSF’s outgoings. 

Do you allow commercial refinance under Easy Refi?

Yes, where all SMSF Easy Refinance qualifying criteria are met. Please refer to the SMSF Easy Refi checklist.

Is the offset account compliant?

Yes. It is not in breach of the SIS Act.

My client can’t meet one of the qualifying criteria for Easy Refi. Can I still apply for the Easy Refi?

No. SMSF Easy Refinance applications require all qualifying criteria to be met. Please lodge a Full Refinance application where your client does not meet one or more of the SMSF Easy Refi qualification criteria. Please refer to the SMSF Checklist.

Do you do low-doc commercials?

No, we are a full-doc lender.

Do you have minimum liquidity requirements?

We do not have liquidity or net asset test for properties with 80% LVR. For residential properties with 90% LVR, we require 5% liquidity (and cannot rely on an Accountant’s letter). 

Do you check the guarantors' credit?

Yes. A minimum fully comprehensive credit score of 600 is required.

Do you accept new/off the plan properties?

Yes, we do. Please submit the loan only when close to completion. We accept an Estate Agent’s estimate of the rental income for servicing (and take the lower of this figure or the rental from the valuation report). We do not need to have a tenant already in the property.

Can you accept clients on probation?

We require clients to be off probation for SMSF loans.

Can I submit the loan if the SMSF Trust is not set up?

No, as we need to be able to identify the members and guarantors. When you submit the SMSF Trust Deed, please ensure the deed is certified by an Accountant, Financial Planner, Lawyer, or JP only (cover and signature pages). 

The Bare Trust has yet to be set up.

Can I still submit the loan? Yes, you can—make an exception in LoanApp via the “Create an Exception” tab and note in the comments box that the deed will be provided when your client(s) have confirmed the property they will purchase. 

Do you accept the NDIS income for servicing?

Yes, we do. Our NDIS loans are done with specialist valuers using a commercial valuation. Thus, we can take the higher government-slated NDIS rental income for servicing. (Tip: When inputting it into our Calculator, please click the Specialist Disability Accom dropdown box and input the net rental. This is the gross return per the SDA Provider, less their management fee. Where no management fee is noted, our Credit team will assume 12.5%.

Can you fund a NDIS property within an SMSF?

Yes, up to 80% LVR. No construction is permitted as per the SIS Act within the SMSF. For a NDIS or Co-Living property outside of an SMSF, we can fund up to 90% LVR (construction is available).

What is a Co-Living / Rooming House property?

It is a type of social housing that assists with affordability. In some states, it is called a Rooming House or Shared Room. One dwelling can have up to 6 ensuite rooms, where the tenants have equal rights to a common living room, kitchen, and laundry facility.

What is the max LVR for NDIS/Co-Living investments?

Outside of an SMSF structure, we can fund the purchase or construction of these properties to 90% LVR, provided the postcode location is acceptable.

Any restrictions on the level of care/dependency?

No, we permit NDIS (SDA) securities compliant for Robust, Fully Accessible and High Physical Support. 

What is the property valuation process?

We obtain a specialised valuation report from a specific panel of valuers. The valuation is akin to a Commercial valuation to ensure your client gets the NDIS/Co-Living value recognised and not valued as a standard residential property.  

What rental income is accepted?

We accept 80% of the net NDIS/Co-Living rental income.

Do you have a list of government-approved NDIS providers?

No, your client needs to do their research to ensure they are engaging with a bona fide Government-Approved NDIS Provider.

Can my client purchase a standard property and convert it to NDIS?

No, NDIS (SDA) securities must be newly completed construction or established and compliant properties. Conversion of standard residential security is not permitted under our lending guidelines. 

Do you offer low-doc loans?

No, we are a full-doc lender.

Is a cash out refinance accepted on an owner-occupied property, in order to purchase an NDIS investment property?

Yes, you can – and we will accept the higher NDIS income, from the specialist valuation (ordered via our Commercial valuation tab)t.

How do you calculate rental income for new properties?

We will accept the SDA Provider’s estimate of the rental for servicing (and take the lower of this figure or the rental from the valuation report).

The client owns a registered building company. Can they build their own NDIS investment property?

No, we don’t accept owner-builder loans. Another independent NDIS must build its registered, licenced builder.

If the NDIS income services the debt (rent-reliant), and the property is owned in a SPV, or Trust, do the guarantors have to be working/employed?

We require two years’ worth of complete income documentation. However, there are some exceptions to this. We can use rental income only for service for NDIS Construction, as per our policy, if the NDI (net disposable income) is 1.10 a minimum. We also consider NDIS owner occupied (borrower receives the NDIS payment); however, it can only be for an established property. Income used for servicing will be from the NDIS payment and is entered on the servicing calculator as non-taxable income (no rental to be included).

Do you accept overseas qualifications for your Professional 95 Programme?

Yes, we do. If the qualification documentation is in a foreign language, please also provide an English-translated version. (Tip: unlike other lenders, we do not require professional body registrations; we only ask that your client works in the professions we approve.)

My IT Professional only has a Diploma; is this acceptable under the Professional 95 Programme?

Yes, it is. We make exceptions for IT professionals (programmers, designers, analysts, software engineers, etc) who need a degree. We accept a diploma or TAFE certificate equivalent.

Are there any risks or hidden fees?

No. The only fees are a valuation fee (charged at cost), a $275 legal fee, and a $295 annual investment fee (owner-occupied incurs no annual fee).

Can 90% and 95% LVRs be used for investment purchases?

No, these LVR bands are only permitted for established owner-occupied properties.

Do you accept Registered Nurses up to a 95% LVR threshold?

Yes, if they are the primary income earner.

Is the product only available for first-home buyers?

No, the product is available for all qualifying borrowers to purchase their second, third or more homes.

I have joint borrowers, but the applicant with the degree isn't the primary income earner. Can they still apply?

Unfortunately, no. The university degree applicant must be the primary borrower based on income.

What qualifies as a professional?

A degree-qualified client working in their profession in the following broad industries and roles: medical and allied health, legal professionals, accounting, engineering, IT, and senior manager and executives.

Can my client get a lower rate if they pay down the loan?

Yes, your client can get the lower rate as they pay the loan progressively down to the respective LVR band; or, do a new valuation (at the client’s cost) if the property has increased in value /equity. We can reprice to the new LVR band.

Do you offer Interest Only Lender Paid LMI?

Our Lender Paid LMI is only for P&I repayments.

Do you allow construction under Lender Paid LMI?

Lender Paid LMI is only available for established properties. We can consider an off-the-plan property if it is nearly complete.

Do you need me to complete a calculator if you are not doing full servicing?

Please complete our EASY REFI calculator and attach it to your application. It is more like a qualifying calculator, but we require this as part of our Credit process.

What age restrictions at the end of the loan term do you have, if any?

We can consider a maximum of 80 years of age at the end of the loan term. To support the application (especially post-retirement), we need to see a strong exit strategy and a good understanding of where income is coming from.

What exit strategy details do you require in the client's letter?

Do you have a template? We do not have exit strategy letter templates. An acceptable exit strategy would include selling investments, such as property or shares. Downsizing or reliance on superannuation is generally not sufficient. We recommend your client(s) seek financial advice where required.

Do you need a valuation?

Please order the valuation and attach it to your submission so it is one touch to Formal Approval.

Do I need to input the client's other debts?

Only input the liability linked to the asset your client(s) seeks to refinance. There is no need to input other assets and liabilities (such as the client’s other investment properties). However, you are required to provide the client’s personal and employment details.

Can you help self-employed clients?

Yes, we can. You only need to show us either one year’s profitable financials/ tax returns OR a personal bank statement showing regular wages/ salary/ dividend deposits. Please always refer to our Checklist. We do not use this for servicing.

My client bought the property as an investment and has now moved in as their primary dwelling. Can I get owner-occupied pricing?

Yes, you can get owner-occupied pricing if your client has lived in it as a home (primary dwelling) for more than 12 months.

What is your maximum loan size?

$2.5m for a Cat 1 location property.

Do you fund vacant land property?

No, but we can fund construction loans, so bring the property to use with a construction contract.

What is your minimum unit size?

We can accept a strata unit with an internal living space of 40 square meters, excluding car space, balcony, and storage areas, if it is a proper one-bedroom (with a window in the bedroom).

Do you accept a Company Title property?

No, only freehold, strata and ACT crown leasehold.

What is your maximum accepted land size?

Up to 10 hectares, if it has a liveable dwelling and is not used for farming.

Why are you asking for another Agent Rental quote when one was provided with the initial submission?

We accept AVMs (automated valuation modelling vals) & Desktop valuations ordered from our system. Where it is an investment property, and an AVM is generated on our system, we may require you to give a secondary Agent Rental quote, as AVMs do not note a rental figure to confirm the rental.

Why is Gadens asking for an updated Strata Levy notice at settlement?

As part of the compliance and settlement process, Gadens may ask for an updated paid levy notice to check it is current and paid. The same policy applies to the Council Rates notices.

Do you lend to Temporary Residents?

Yes, up to 80% LVR where they come from an approved country of origin and have at least six months remaining on their visa (please contact your BDM with a visa number).

What is your high-density policy?

The property must first be located under a high-density postcode (per our Postcode Matrix) and be in a complex block of over 30 units. If the property is not located in a high-density postcode, it does not fall within our high-density policy.

Do you lend to regional areas?

Yes. Please refer to our Postcode Matrix. We can lend where the property is located in a town with over 5,000 residents or within a 25km radius of a major town with a 25,000+ population.

Do you offer pre-approvals?

Yes, we thoroughly assess pre-approvals across all products. Our pre-approvals are valid for up to 90 days.

How long are your valuations valid for?

120 days from the date of inspection.

What is the process for residential property?

Please order the valuation upfront from the Broker Portal. Go to Tools => Order a Valuation => Residential => Corelogic (please register). The client bears the cost.


Suppose you are doing an EasyRefi (whilst within LoanApp before pushing the submission button). In that case, you order the val within LoanApp during the application process but before submission. The “order valuation” tab will show as a grey tab on the left margin in LoanApp after you have loaded the application. Page 21 on the guide, as a reference. For all SMSF Resi Refi vals ordered this way, we cover the AVM/ desktop value to $250. Otherwise, for all other scenarios, please go to the Granite Portal as above and order a Residential val at the client’s cost. Thank you.

What is the process for commercial property?

Please go to the Broker Portal, Go to Tools => Order a Valuation => Commercial tab. It will open an online form for you to complete and upload all relevant information – please tick the appropriate scenario. After you click Submit, our Valuations Team will come back to you within 3-5 business days with three quotes where possible (based on valuer, turnaround time and cost). You present this to your client to choose from, then tell our team your choice, and then they will come back to you with a Valuation Invoice to pay upfront before it is ordered. When this returns, attach the val/ invoice/ receipt to your application, then click Submit (aeroplane icon) to send it to us fully packaged.

Do you accept AVM (automated valuation modelling) / desktop valuations?

Yes, we accept AVMs ordered from our system. Where it is an investment property, and an AVM is generated on our system, we may require you to:

1. Get another agent quote as a secondary confirmation of the rental to back up the initial one (as AVMs do not note a rental estimate on them), or

2. Do a paid short-form valuation to confirm the rental figure.

Do you have a Notional Rent figure?

Yes, we do. Our Notional Rent is $650 p/m per individual.

Can I submit to Granite by ApplyonLine or via PDF?

No. Our submission platform is LoanApp (managed by Simpology). Please register for LoanApp access via our Broker Portal home page, after you are accredited. You will also need to register for Simpology, via the ‘No Reply’ email, for all subsequent follow up and back channel messaging.

Can you addback Depreciation?

Yes. You can addback depreciation, capped to 20% of the client’s taxable income.

Do you accept Bonuses and Commission income for servicing?

Yes, must be demonstrated over 2 yrs, then we will take the lower of the 2 year’s income.