MOVE Bank lending policy requires brokers to assess the proposed loan and borrower, while commission entitlement depends on the origination arrangement and loan event. Establish whether the file brings lending to MOVE, increases an existing facility or changes its structure before forecasting upfront or trail.
Payment Entitlement and Trail Basis
MOVE Bank accepts broker introductions through selected aggregators, with accreditation tied to the individual broker. Its broker accreditation form requires aggregator affiliation and says accreditation starts when MOVE issues the Broker Identification Number. Record that number against the application so the settled account can be traced to its introducer.
Keep the commission instruction for that origination arrangement beside the settlement record. Record the eligible funded amount, any offset adjustment and the upfront rate with its GST treatment. For trail, record the balance basis and the payment conditions, including how arrears affect entitlement. The account limit alone does not establish the payable amount.
The Mortgage and Finance Association of Australia’s remuneration explanation describes upfront at settlement and ongoing trail based on the outstanding balance, with offset funds excluded. Those industry mechanics help explain the calculation. Your MOVE payment authority supplies the terms for the particular loan and aggregator arrangement.
For each payment, match the loan reference and settlement amount to the commission statement. A difference needs a reason, such as an excluded balance or a payment adjustment, before it becomes an income forecast.
Clawbacks and Refinance Classification
A refinance into MOVE from another lender and replacement of an existing MOVE loan are different events. Identify the outgoing lender and original facility before applying the remuneration terms. A new account number does not establish that the entire balance qualifies for another upfront payment.
For an early exit, use the original upfront payment and the recovery clause governing that origination. Match the discharge event to the clause’s elapsed period and recovery percentage. Apply any stated treatment for partial repayment or other exceptions to that event. Keep the recovery separate from trail that stops after discharge and from borrower fees for leaving a fixed loan.
For example, a hypothetical borrower replaces an existing MOVE facility and receives extra funds. Record the amount paying out the old facility separately from the additional advance. That distinction lets you apply the correct payment clause without counting the retained debt as newly introduced lending.
Track My Trail’s Clawback Risk shows loans inside their clawback period, with days remaining and upfront exposure under the aggregator’s or lender’s rules. It gives you a loan-level view to compare with the lender’s recovery notice.
Top-Ups and Loan Splits
Separate an increase in borrowing from a split of the existing balance before calculating expected commission. MOVE’s home loan product matrix lists splits and identifies top-up features and fees by product. A borrower fee is a charge for the loan change, not evidence of a broker payment.
In a hypothetical split-only change, a $400,000 loan becomes a $250,000 variable split and a $150,000 fixed split. Total borrowing remains $400,000. Counting both new account balances as new lending would duplicate the existing debt.
If the same borrower instead increases total lending to $450,000, the additional borrowing is $50,000. Apply the relevant increase clause to establish its payable basis. Keep the original loan reference and the changed accounts together so trail can be reconciled after the restructure.
Existing membership establishes a customer relationship. It does not establish that a direct loan increase follows the same origination or payment route as a new broker application.
Membership and Borrower Status
MOVE Bank membership is open beyond railway employees. Its membership eligibility answers say Australian citizens and permanent residents living in Australia can bank with MOVE. Do not reject an otherwise suitable applicant because they work outside the railway industry.
Membership and eligibility for a particular residential loan are separate assessments. Match every applicant’s identity and residence evidence to the proposed borrower names. Record each applicant’s date of birth and assess age and the proposed term together. A savings account held by a child does not establish eligibility to borrow.
Distinguish a self-employed person’s income from the legal entity taking the loan. Company accounts can support an individual’s earnings without making that company the borrower. State whether the proposed borrower is an individual or an entity before applying the selected residential lending criteria.
Income and Purpose Evidence
MOVE’s home loan application checklist links income verification to the applicant’s earnings type and supporting documents. It requires two consecutive computer-generated payslips for PAYG income. Self-employed applicants need two years of personal and company tax returns and financials, plus the relevant tax assessment notices.
Rental income needs a recent statement from the managing agent. The checklist also requires transaction statements covering 90 days to review income deposits and living expenses. Reconcile declared earnings and commitments with those records before relying on the servicing result.
For a purchase, include the full sale contract and evidence of the contribution towards completion. For refinancing, the checklist calls for six months of loan statements when the liability is absent from the comprehensive credit report. Credit-card refinancing needs three months of statements in that situation.
Set out how the proposed funds will be used. Separate the payout from additional borrowing and reconcile the total to the requested loan. Redact tax file and credit-card numbers from submitted documents, as the checklist requires.
Property Checks and Exception Requests
MOVE’s product matrix specifies a first registered mortgage over residential or residential investment property. It lists lending up to 80% loan-to-value ratio (LVR) without the higher-LVR insurance category. With lenders mortgage insurance (LMI), the matrix lists up to 95% for owner-occupied lending and 90% for investment lending, subject to policy.
These product ceilings depend on acceptable security and the assessed application. Calculate the proposed debt against MOVE’s accepted valuation and apply the limit for the selected purpose. A purchase price or an agent’s estimate alone does not settle that assessment.
MOVE’s upfront valuation form asks for building type and property address, purpose of funds, proposed loan amount and purchase price or estimated value. It also asks whether the transaction is at arm’s length. Supply the property access details and relevant contracts so the valuation request describes the actual security.
For an exception request, name the policy condition that the application falls outside. Explain the departure and attach the evidence that addresses it. Include the borrower structure, income assessment and proposed security, with the resulting LVR. Disclose related-party dealings and adverse conduct instead of leaving the assessor to discover them.
Use the MOVE Bank broker tools and contact guide to reach the appropriate broker team. Keep the written exception decision and any conditions with the application before proceeding. The lender policy directory helps you compare another lender’s requirements when the scenario falls outside MOVE’s accepted route.
