CBA lending policy separates the commission earned on new borrowing from the credit assessment of the client’s whole loan. For a switch with extra funds, record the retained debt separately from the additional advance. Then match the income evidence and security conditions to the proposed facility.
Commonwealth Bank, CommBank and CBA are the same lender. The lender policy directory covers other banks. For lodgement and platform support, use the CommBroker guide.
Origination Commission and Trail Calculation
The published Vow commission schedule calculates CBA home-loan upfront 14 days after settlement. It deducts existing CBA debt repaid, linked offset credits and special repayments available for redraw. Top-ups exclude pre-existing offset and redraw funds from those deductions. Construction uses the approved amount. Trail uses month-end net loan balance less linked offset credits.
Keep the commissionable balance beside the settlement amount in your file. Record the applicable lender rate, your aggregator’s deductions and the tax basis separately. A larger approved limit does not establish that the whole limit earns upfront.
For monthly reconciliation, match each CBA account’s reported balance and trail to its previous report. When an account changes, retain the old reference alongside the replacement. That lets you investigate a missing payment without counting the same debt twice.
Clawback Triggers and Repayment Events
Vow’s CBA schedule recovers 100% of upfront for repayment or external refinance within 12 months. Recovery declines after that and ends after 24 months. A property-sale repayment within 12 months can cause proportional recovery. Offset deposits do not trigger that clawback. Trail stops at 60 days’ arrears and on repayment or external refinance.
Record the event as well as the balance movement. A discharge, a sale-funded partial repayment and money parked in offset have different remuneration consequences. Link the recovery entry to the upfront payment that CBA originally made.
Track My Trail’s Clawback Risk shows exposure loan by loan under each lender’s rules. Use it to identify accounts needing attention alongside the actual repayment event and commission statement.
Internal Refinance, Top-Ups and Splits
A product switch changes the product. A replacement facility repays existing debt. A top-up adds borrowing. Record which event CBA processes before calculating expected remuneration.
Vow’s schedule deducts repaid CBA debt from upfront calculations. Customer-initiated transfers between CBA business units can affect clawback and trail. Another aggregator’s product switch or top-up can end the original broker’s trail.
In a hypothetical file, the client retains $500,000 and borrows another $40,000. Record both amounts separately, then apply the remuneration deductions to the relevant advance. Labelling the replacement account $540,000 of new lending would obscure the retained debt.
If CBA divides the balance into fixed and variable splits, map every old account to its new account. Record the offset linked to each split. Reconcile the combined debt before comparing account-level trail. A change in account numbers alone does not prove additional funds were advanced.
Salary and Variable Earnings
CBA’s application document list includes salary credits, a recent payslip or employment evidence with a payment summary or tax return. It specifies three months of bank statements for wages and six months for casual employment when salary is paid elsewhere.
Separate ordinary base wages from overtime, commission and bonuses in the submission. Show the amount received and the period each document covers. A payslip containing variable pay does not by itself establish the amount CBA accepts for servicing.
When employment changes, record the new employer, commencement and contract terms. Match the salary used in the assessment to evidence for that job. Keep a one-off payment separate from recurring earnings. Where the decision conditions acceptance on further evidence, leave that income out of the final verified total until the condition is met.
Business Income and Rental Evidence
CBA’s business-owner verification route can apply to a self-employed borrower who pays themselves a regular salary. It requests six months of salary credits and financial records showing a profit in each of the last two years.
The bank lists alternatives to salary credits, including a personal tax return with a Notice of Assessment. Payslip options depend on the year-to-date period and supporting tax evidence. An accountant’s letter can replace profit records when it confirms profitable trading and capacity to meet business commitments.
A company director’s salary therefore needs the matching business evidence. Identify whether CBA assesses the file through simplified salary verification or the full business-income route. Avoid adding the same earnings again as company profit available to the borrower.
For full verification, CBA lists personal and business tax documents with financial statements. Keep the entity and accounting periods attached to each figure so the credit assessor can follow income paid to the applicant.
For rent, CBA accepts a managing agent’s statement, a current lease or tax returns showing ownership. It also asks for rental expenses. Tie the evidence to the property and the applicant’s ownership share, then separate verified rent from the amount accepted in servicing.
Residency and Borrower Structure
The CommBroker Standard Variable Rate page lists Australian citizens, permanent residents and specified temporary residents among its target borrowers. It also lists certain Australian companies and trusts. Temporary residency alone does not identify an eligible visa.
For each applicant, record citizenship, residence status and the visa details relevant to the proposed loan. Show who owns the property and who borrows. A joint application needs evidence for each person’s eligibility and income, with the proposed ownership structure beside it.
Government schemes have separate conditions. CBA’s 5% Deposit Scheme guide requires both joint applicants to be citizens or permanent residents. A temporary-resident partner does not meet that scheme test. Ordinary product eligibility and scheme eligibility must remain separate decisions.
Security and Loan Purpose
CommBroker’s Standard Variable Rate product covers residential purchase, refinance and renovation for owner-occupied or investment use. It requires acceptable residential security. Describe the actual property and purpose before applying the loan-to-value ratio (LVR), which compares debt with the bank’s accepted security value.
For purchase, CBA requests the sale contract and conveyancer details. For existing security, it lists a rates notice or valuation notice. Investment files also need the rental evidence and expenses used in assessment. Retain the bank’s accepted valuation beside the proposed borrowing, including any security conditions still outstanding.
Construction adds a separate sequence. CBA’s construction process includes an as-if-complete valuation and requires the client’s equity contribution before loan progress payments. Send contract variations through the assessment process before treating revised costs as funded.
CBA’s construction loan terms require commencement within 12 months of the contract’s disclosure date. Completion must occur within 24 months of the first progress payment. The bank conducts a final inspection before paying the final claim. Keep these construction conditions separate from the initial loan approval.
Documents and Outstanding Conditions
Build the checklist around the CBA transaction being submitted. Separate evidence already supplied from conditions that remain open.
| File purpose | Evidence to match to the application | Condition to record separately |
|---|---|---|
| Purchase | Sale contract, applicant income and deposit evidence | Accepted valuation and any outstanding offer conditions |
| External refinance | Existing loan details, repayment evidence and proposed payout | Payout and discharge requirements in the offer |
| Switch with extra funds | Retained debt, additional advance and use of funds | Approval of the increase and final account structure |
| Investment | Property ownership and rental evidence | Rental amount accepted in the assessment |
| Construction | Building contract, plans and contribution evidence | Valuation, stage claims, variations and completion requirements |
For each open item, name the person responsible and the evidence that will close it. Mark documents as received only when the correct applicant, property and accounting period match the submission. A document uploaded to the file can still leave a credit condition unresolved.
Exceptions Requiring a Credit Decision
A CBA exception request must identify the proposed departure and the exact scenario needing a decision. State the requested treatment, the supporting evidence and its effect on the assessment.
For example, a business owner seeking salary-based verification needs a decision tied to their salary history and business evidence. A request about a temporary resident must identify the applicant’s visa and borrower structure. Neither decision automatically applies to a different applicant or transaction.
Retain the written response with the application reference and the scenario CBA reviewed. Record any limits or additional evidence the decision requires. If the income, borrowing or security changes, show that change explicitly before relying on the response for lodgement.
