Gateway Bank is implementing changes to their home loan verification policy to make the process even smoother for you and your clients. These updates took effect for new applications received from 7 August 2024.
What’s new?
Transaction Account Statements
To simplify your workflow, transaction account statements will now only be required in specific situations:
- Net Income Surplus (NIS) is below $200 per month; or
- Living expenses are below Gateway’s HEM benchmark; or
- More than $10,000 of the funds are used for debt consolidation (excluding home loan refinances); or
- They are needed for income or expense verification (e.g. bonus income, commission income, rental costs).
These changes are designed to save you valuable time and benefit both you and your clients.
Great Rates with Gateway’s Home Loans
Gateway offers a range of home loan options with competitive rates. Whether your clients need a comprehensive package with 100% Offset, a basic low rate option with no annual fees, or a discounted rate for energy-efficient properties, Gateway has them covered.
Owner Occupier Rates
| Product | Interest Rate | Comparison Rate |
| Premium Package Home Loan (Up to 75% LVR) | 6.15% | 6.43% |
| Low Rate Essentials Home Loan (Up to 80% LVR) | 6.59% | 6.61% |
| Green Home Loan | 6.15% | 6.43% |
| Green Plus Home Loan | 5.95% | 6.23% |
Investor Rates
| Product | Interest Rate | Comparison Rate |
| Premium Package Home Loan (Up to 80% LVR) | 6.35% | 6.63% |
| Low Rate Essentials Home Loan (Up to 80% LVR) | 6.38% | 6.40% |
| Green Plus Home Loan | 6.09% | 6.37% |
*WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
SLA’s
Gateway Bank’s current SLA’s are very competitive and are as follows:
New applications – 2 days
Rework required – 2 days
Gateway Bank is here to help
If you have any questions or a scenario that you wish to discuss, please feel free to call them directly on 1800 752 575 or email them at gatewaybroker@gatewaybank.com.au.
