Beyond Bank lending policy requires separate decisions about the client’s proposed borrowing and your commission entitlement. For extra funds alongside an existing fixed loan, identify which accounts survive and which balances are new lending before calculating broker pay.
A retained customer relationship does not establish the commission treatment of a replacement account. Build the proposal around the client’s purpose, repayment capacity and security, then reconcile each resulting account against your aggregator agreement.
Upfront and Trail Continuity
Beyond Bank upfront and trail depend on the eligible balance and the account’s payment status. The 2024 Vow commission schedule describes upfront on funded credit after offset and redraw deductions. It describes trail on the month-end loan balance, including redraw, less linked offset funds.
That schedule permits commission withholding at 90 days in arrears. Trail resumes after the cured loan stays in good standing for 90 days.
Apply your own agreement’s rate and broker split to the eligible balance. Keep the original settlement reference beside each retained fixed or variable portion. Match any new account reference to the account it replaces before treating a missing statement row as lost trail.
For example, a retained fixed portion and an added variable portion need separate reconciliation lines. Record the existing balance under its continuing reference and the additional advance under its new or amended reference. This prevents you counting the whole relationship as fresh lending.
Clawbacks and Additional Lending
The 2024 Vow schedule lists Beyond Bank recovery bands of 100% during the first 12 months and 50% from months 13 to 18. It excludes upfront on later increases below $25,000. Its separate 12-month balance review allows an upfront adjustment for an increase of at least $20,000.
The same schedule covers progressively advanced credit for residential construction, renovation or improvement. If it is not fully advanced within 12 months of the loan contract, the aggregator must repay upfront attributable to the undrawn amount. Repayment is due within five business days of demand.
The top-up and balance-review thresholds are distinct tests. A balance-review adjustment does not establish top-up eligibility. Obtain the transaction’s commission classification against your agreement before forecasting payment.
Use the following distinctions when preparing a remuneration query.
| Proposed change | What happens to the debt | Broker-pay question |
|---|---|---|
| External refinance into Beyond Bank | Beyond Bank funds repayment of another lender | Which funded balance qualifies as incoming new business? |
| External refinance away | Another lender repays the Beyond Bank debt | Which original upfront payment falls within the applicable recovery period? |
| Internal refinance | A Beyond Bank facility replaces another Beyond Bank facility | Does the transaction preserve existing entitlement or create a replacement entitlement? |
| Top-up with the fixed portion retained | Extra credit sits beside, or increases, existing debt | Which additional funds qualify, and which existing trail reference continues? |
| Fixed-variable split without extra credit | The rate structure changes while total borrowing stays the same | Which account references change, and does the agreement attach payment to the continuing facility? |
Record the actual repayment event and the original settlement age when assessing recovery exposure. A product change, a full payout and a partial reduction are different events. Use the applicable contract clause for each event instead of applying one recovery percentage to every account change.
Keep the client’s fixed-rate costs separate from broker commission. Beyond Bank’s home-loan FAQs identify break costs for early full repayment, requested rate changes and fixed-rate repayments above its annual allowance.
Employment and Income Rules
Beyond Bank assesses income alongside existing debt and living expenses, so the application must show how the proposed repayments will be met. Its first-home application guide asks for recent payslips and information about existing loans, including study debt.
For salary income, reconcile payslips with salary credits and the employment arrangement. Separate ordinary earnings from overtime or bonuses. A recent pay rise needs evidence of the new ongoing amount if the proposal relies on it.
For irregular earnings, prepare a history that shows the payment pattern and any gaps. Ask credit to identify the assessable amount for the specific income type. Avoid treating one unusually strong pay period as the ongoing income figure.
For business earnings, assemble tax returns, notices of assessment and business financial statements. Reconcile the applicant’s drawings or salary with the business result. Explain one-off items and any proposed adjustment rather than adding them to income without a supporting calculation.
These records support a credit query. The accepted history period and assessable share must match the decision for that applicant’s circumstances. Keep the approved income calculation with the extra-funds request so a later change in loan structure does not obscure its assumptions.
Residency and Joint Ownership
Beyond Bank’s Total Home Loan Package eligibility covers applicants aged at least 18 who are Australian citizens, permanent residents or visa holders. Where a visa holder’s income supports serviceability, the published rule requires the visa term to exceed the loan term.
Record each proposed borrower’s status separately. Include the visa subclass and expiry evidence when relevant, then compare the remaining visa term with the proposed loan term. One applicant’s citizenship does not establish acceptance of the other applicant’s income.
Map the borrowers against the registered owners and any guarantors. If those groups differ, explain who receives the extra funds and why each party takes on the debt or provides security. Submit the proposed ownership shares with the query instead of assuming every joint arrangement receives the same treatment.
A change in ownership also changes the facts of an existing-customer request. Document it even where the property and one borrower remain the same.
Security and Purpose Limits
Beyond Bank’s security assessment must fit the actual property and use of funds, including whether the proposal is a refinance or staged construction. Calculate the loan-to-value ratio (LVR) against the lender’s accepted valuation, using the total proposed secured debt.
For an investment proposal, identify the use of each advance and provide the rental evidence supporting the assessment. Keep proposed improvements separate from debt consolidation or unrestricted additional funds. A property valuation alone does not explain why the client needs the increase.
Beyond Bank’s construction loan guidance describes lending up to 90% of the completed security value, subject to assessment. Lenders’ mortgage insurance (LMI) applies above 80%, with location affecting the position. Owner-occupied and investment construction are available.
Construction funds are released progressively, usually after inspections. The bank specifies completion within 12 months and directs borrowers needing an extension to their lending specialist. Prepare the building contract, plans and progress-payment schedule alongside the valuation instructions.
For prefabricated housing, the bank assesses the home and land together and considers permanent attachment and an approved licensed builder. Mobile homes are unacceptable mortgage security. Describe the actual structure in the valuation request so a transportable design is not mistaken for an ordinary completed dwelling.
Evidence and Escalation
Send Beyond Bank one written credit scenario that connects the extra funds to the proposed repayments and security. Keep the remuneration question identifiable within the file so its answer cannot be confused with credit approval.
- Describe the additional-funds purpose and attach the documents supporting that purpose. Allocate the requested amount to each purpose.
- List every existing and proposed loan portion. Show balances, limits, repayment types and the fixed portion you intend to retain.
- Attach income records and the assessment calculation. Identify the specific irregular or business earnings on which approval depends.
- Reconcile liabilities with statements and declared expenses. Explain which debts will close and how the funds will repay them.
- Provide title and valuation details. Include the proposed owners, borrowers and any guarantors, plus visa evidence where relevant.
- Request a written decision on the identified policy exception and the required conditions. Separately ask the aggregator to map retained and replacement accounts to commission entitlement.
For a hypothetical client retaining a fixed portion while borrowing for renovations, the credit query needs the renovation amount and the resulting repayments. The commission query needs the existing reference, the additional advance and whether any facility closes. A response addressing only the new interest rate leaves those decisions unresolved.
Use the Beyond Bank broker access and credit contacts guide to reach the relevant channel. The lender policy directory helps you compare another lender’s requirements if the proposed structure cannot meet Beyond Bank’s conditions.
Before lodgement, match the written response to the exact applicants, amounts and account structure in the application. After settlement, reconcile the resulting account references and commission entries against that approved proposal.
