WLTH lending policy depends on the facility behind the offer: identify its issuer and product before applying credit rules or forecasting broker commission. Ocean and Optimiser facilities have different issuers and eligibility conditions. A product name, credit approval and commission agreement must all refer to the same proposed loan.
Facility Identity and Broker Pay
Match the proposed WLTH facility to the issuer in its loan documents and the commission schedule covering your broker or aggregator agreement. WLTH’s Credit Guide identifies WLTH Lend as a credit representative of WLTH Pty Ltd. Those roles do not establish the contractual lender for every facility.
For example, the Ocean Variable target market determination names Perpetual Corporate Trust Limited as issuer. Columbus Capital, trading as Origin Mortgage Management Services, manages and services that product. The Optimiser Alt Doc determination names BC Securities as issuer. Keep that distinction in the file when choosing the policy and payment terms.
WLTH’s Credit Guide describes commission based on the drawn loan balance, commonly net of offset funds. It also says the calculation differs between products. This describes payments received by WLTH, so your own broker entitlement needs the distribution agreement and applicable remuneration schedule.
Build the forecast from the schedule’s defined commissionable balance. Multiply that balance by the applicable upfront rate. For trail, apply the schedule’s rate and payment-period convention to its eligible balance. Record offset treatment, any drawdown adjustment and whether figures include GST. Apply your aggregator’s share separately where the agreement requires it.
In a hypothetical schedule, a 0.60% upfront rate on a $500,000 eligible balance produces $3,000 before any separately specified GST or aggregator deduction. If that schedule excludes a $50,000 offset balance, the eligible balance becomes $450,000 and the calculation produces $2,700. These assumed terms illustrate the calculation, not WLTH’s commission rates.
Clawback and Refinance Events
Apply the original facility’s recovery clause to the event that ends or changes the loan. A sale discharge, external refinance and internal replacement need separate treatment in the commission record.
For an early discharge or external refinance, calculate elapsed time from the starting event defined in the agreement. Where the clause triggers recovery, apply its tier to the upfront amount it identifies. Stop forecasting trail once the loan ceases to qualify under the payment terms. A borrower’s discharge fee and a broker’s commission clawback are separate amounts.
For an internal replacement, establish whether the original account closes and whether the agreement treats the replacement as new lending. Record any retained-balance exclusion before forecasting another upfront payment. A new account number alone does not establish a second commission entitlement.
Retain the settlement record, original upfront payment and event evidence together. When a deduction appears, match its loan reference and recovery calculation to those records before accepting it in the brokerage’s accounts.
Top-Ups and Split Eligibility
Separate an increase in the credit limit from redraw of repayments already made. The Ocean Variable determination describes redraw and a conditional cash-out facility, with cash-out unavailable during construction. Redraw access does not establish approval for a larger limit.
For a proposed increase, describe the extra amount and use of funds in the facility enquiry. Obtain a decision identifying whether the transaction is an increase or a replacement loan. The remuneration response must identify the eligible new money and any treatment of the existing balance.
For a split request, specify the proposed balances and rate types. Treat the split as available only when the selected facility’s terms or written approval allow that structure. Keep the approved total limit separate from the number of accounts. A split without new borrowing does not, by itself, establish additional upfront commission.
Income Route and Documentation
Choose the income-evidence route attached to the selected product and the applicant’s employment circumstances. An alternative-document facility elsewhere in WLTH’s range does not change the evidence requirements of an Ocean application.
Optimiser Alt Doc’s determination targets self-employed applicants and eligible company or trust structures. It also describes applications supported by a cover sheet and credit notes for assessment under BC Invest Credit Policy. The product label does not establish that a particular accountant’s letter or bank statement will satisfy the application.
Prepare an income summary that identifies each source, its owner and the amount used in servicing. Match the evidence to the facility’s application checklist. For employment income, reconcile earnings claimed with the employment records supplied. For business income, explain the connection between business earnings, drawings and personal income so the same earnings are not counted twice.
Where the evidence differs from the standard checklist, name the exact substitution in the credit enquiry. Keep acceptance of that evidence with the servicing calculation used for approval.
Applicant Status and Loan Purpose
Match the borrowing entity and residence status to the selected facility before assessing loan purpose. Ocean Variable’s determination describes individual borrowers who are Australian citizens or permanent residents. Optimiser Alt Doc identifies eligible Australian registered companies and trustees as well as self-employed applicants. Those are distinct entry conditions.
WLTH’s Ocean 0% LMI product explanation adds occupation-specific restrictions. Lenders mortgage insurance (LMI) eligibility under the Professional and Essential worker options covers purchasing an established owner-occupied home. Its Other workers option also covers refinancing and established investment property.
Document the applicant’s occupation and residence evidence alongside the proposed use of funds. A professional buying an investment property cannot rely on the Professional worker purchase criteria merely because their occupation qualifies.
Property and Valuation Restrictions
Assess the security under the chosen product’s property rules before relying on its advertised loan-to-value ratio (LVR). The Ocean 0% LMI product covers established residential property and excludes construction. Optimiser Alt Doc’s determination specifies residential security with a first registered mortgage.
Give the valuer and credit assessor the property’s actual use and title details. Include the contract, address and proposed borrowing, plus any unusual features affecting saleability. For an apartment, identify its size and title structure. For a property with mixed use or unfinished works, describe those conditions expressly.
Calculate LVR using the security value accepted for approval and the debt included under the facility’s rules. If the accepted value falls, recalculate both the required contribution and product eligibility. A maximum product LVR does not establish that every postcode or property type qualifies at that level.
Credit Decisions and Settlement Records
Send a scenario enquiry that identifies the facility and the precise condition needing a credit decision. State the proposed issuer, borrowing entity and purpose, then describe the disputed income or property condition. Attach the evidence needed to decide that issue.
For example, a hypothetical self-employed applicant seeks an Optimiser Alt Doc refinance through a company. The enquiry identifies the company borrower and residential security, then asks whether the supplied income documents meet that facility’s assessment route. A separate remuneration question addresses any proposed additional advance.
Use the WLTH broker portal guide for application-channel and support details. The lender policy directory helps when the scenario needs a different lender’s rules.
At settlement, reconcile the final product and issuer with the approved application. Update the forecast for the amount actually advanced and any commissionable-balance adjustments. Retain the relevant schedule, credit decision and account references so the first upfront and trail payments can be matched to the loan that settled.
