ME Bank Home Loan Lending Policy 2026

An ME Bank home loan file needs evidence for the income being used, the funds needed to complete and the property securing the loan. Choose the product and repayment structure separately from the credit assessment. A product feature or cashback offer doesn’t establish that the borrower qualifies.

ME Bank is a division of Bank of Queensland Limited, under Australian credit licence 244616. ME’s Home Lending Policy governs the scenario, while its supporting document checklist guides evidence collection. Use the lender policy directory when comparing the same borrower with other lenders.

Employment and Usable Income

Classify each applicant’s employment and income before choosing the evidence path. Record their start date, employment status and any probation or contract end date. Separate base salary from overtime, allowances, commission and bonuses.

ME’s June 2026 supporting document checklist sets these evidence paths for pay as you go (PAYG) employees.

Income	Evidence path
Permanent salary or wages	Payslip within 60 days of submission, with year-to-date (YTD) income covering two pay cycles. Without YTD, two consecutive payslips
PAYG contract	The salary evidence above plus the executed current employment contract
Overtime, shift allowances or penalties	Current payslip with three months of YTD income. Shorter or missing YTD needs secondary evidence
Casual wages	Current payslip with six months of YTD income. Shorter or missing YTD needs secondary evidence

The secondary evidence can be a recent tax record or the prior financial year’s final YTD payslip. Where that extra document is required, ME uses the lower annualised figure. Family employment also needs the personal tax return and notice of assessment.

For self-employed applicants, select the checklist’s wages-only, one-year or two-year evidence option against ME’s Home Lending Policy. Document eligibility and trading tenure separately from the number of years supplied. The casual employment guide explains how variable work history affects a lender comparison.

Reconcile the Income You Want Used

Show the base income and each additional component on separate lines. Match the gross amounts to the payslips and reconcile net pay against salary credits. Explain a mismatch caused by salary sacrifice, deductions or a change in hours.

For commission and bonuses, show when each payment was earned and received. Match employer evidence to payslips or tax records for the same period. A large recent payment can’t demonstrate a recurring income pattern by itself.

For parental leave, set out the paid leave, return-to-work income and the funds covering any unpaid period. For a business owner, reconcile the personal income with business results so the same wage doesn’t count twice.

Bulma quotes the lender’s policy wording behind an answer, so you can retain the relevant income rule with your calculation and file notes. The lender’s assessment determines the income it accepts.

Deposit and Repayment Choice

Trace each deposit source to the applicant and calculate the total funds needed for completion. ME’s June 2026 checklist requires evidence of a 5% deposit where the base loan exceeds a 90% loan-to-value ratio (LVR). The base loan excludes any capitalised lenders mortgage insurance (LMI), which protects the lender against loss.

Use statements for savings and redraw, and a sale contract or credited proceeds for sale funds. A non-repayable family gift needs the signed gift letter and evidence of receipt. Keep each contribution separate, then reconcile the available total against the purchase price, costs and approved loan advance.

Current and Historical Product Names

As at October 2026, ME’s current broker page presents EconoME and CompleteME. EconoME is its basic product with no annual fee. CompleteME includes the offset feature and repayment options.

The searched Flexible Home Loan is a historical product name. ME’s Flexible-to-CompleteME change notice describes its transition to CompleteME through ME Go. Read the borrower’s current loan schedule and transition notice before applying features to an existing account.

For a migrated Flexible loan, existing linked Everyday Transaction Accounts remain linked and become SpendME accounts. Older fixed-rate periods retain their applicable terms until expiry. The product name alone doesn’t identify which fixed-rate prepayment rules govern that portion.

Repayment Structure and Serviceability

ME’s fixed and variable rate guidance, as at October 2026, includes fixed and split options for CompleteME and EconoME. CompleteME’s product page also lists interest-only options. Serviceability is the assessment of whether the borrower can afford repayments, including their other commitments.

Keep the requested interest-only period separate from the servicing calculation and its evidence. Record the reason for that period and the repayment position when principal repayments begin. A listed interest-only rate isn’t an approval for the client’s purpose or LVR.

Offset Accounts and the Correct Loan Portion

As at October 2026, ME’s offset instructions describe a 100% offset for variable CompleteME and StandardME loans. Up to 10 SpendME accounts can be linked. An offset account can be linked to only one loan account at a time, and fixed-rate periods receive no offset benefit.

ME’s February 2026 fee guide charges a $395 annual fee for CompleteME and StandardME. One annual fee applies across those loans with the same borrowers. The offset account page lists no monthly account-keeping fee for the transaction account.

For CompleteME, open the SpendME account, then select the intended home loan in ME Go. Under Manage home loan account, choose Manage my offsets and link the transaction account. StandardME customers call 13 15 63 to link or unlink accounts.

The account must belong to one or more borrowers and nobody else. Retain the linked-account confirmation with the loan account number and rate type. Match the account balances and loan interest records over the same dates to establish that the offset applies to the intended variable portion.

For example, a hypothetical $300,000 variable portion with $40,000 in linked offsets has a $260,000 balance for interest calculation. A separate $200,000 fixed portion receives no offset benefit. The offset doesn’t reduce the required repayment merely because it reduces interest.

Cashback and a Refinance Review

ME’s home-loan offer terms, as at October 2026, advertise up to $3,000 cashback. The $3,000 refinance offer requires at least $700,000 of new lending and an LVR of 80% or less. It excludes owner-occupier interest-only loans and refinancing ME or other Bank of Queensland group home loans.

The $2,000 purchase or refinance offer requires at least $400,000 of new lending, an LVR above 80% and up to 95%, with LMI payable. It excludes owner-occupier interest-only loans and internal group refinancing.

The $3,000 offer runs from 28 August 2026 to 28 February 2027 under ME’s detailed offer terms. The $2,000 offer starts on 18 August 2026, with the headline promotion ending on 28 February 2027. Both require settlement within 120 days of application.

Cashback is paid into an eligible SpendME account within 60 days of settlement. The offers also restrict previous group cashback recipients and combining offers. Apply the named offer’s full terms to every borrower before including the rebate in a refinance comparison.

Review the interest cost and fees over the client’s expected holding period. Include any current lender’s fixed-rate break charge and the cost of the required account or product package. Customer reviews describe experiences, while the written loan terms determine the features and costs for this file.

Property Checks

ME accepts all postcodes subject to its security conditions, as at October 2026. Its broker page requires a satisfactory valuation, residential zoning and a vehicular bridge for island property. Postcode coverage doesn’t approve every property type or every proposed LVR.

Record the address, postcode and title type. Add the zoning, property use, dwelling condition and any unusual feature, such as mixed use or restricted access. Identify the loan purpose and the amount borrowed against the lender’s valuation.

File fact	Assessment question
Contract price and valuation	Which security value applies to this assessment?
Property type and zoning	Does the actual property meet ME’s security policy?
Proposed LVR	What limit applies to this purpose and property, including any LMI?
Rental use	Which evidence supports the rental income being used?
Unfinished or altered property	What work and completion evidence are conditions of lending?

A residential-zoning requirement is a stated security condition. A question about an unusual title or valuation needs a decision on the actual property. Keep that decision with the valuation and file facts, so an answer about one property doesn’t become a blanket postcode rule.

For pre-approval, record which conditions still depend on a selected property, valuation or updated evidence. Reassess the file when those facts change before relying on approval for an unconditional purchase.

Evidence Summary and Escalation

Send a defined scenario and one precise policy question to ME’s business development manager (BDM). ME’s broker contact sheet, checked in October 2026, sends scenario enquiries to the BDM. It sends escalations to the BDM or broker support on 1300 728 154.

Include the applicant’s employment type and tenure, income calculation, liabilities and living expenses. Add the loan purpose, proposed amount, LVR and repayment structure. Attach the evidence relevant to the disputed point, with the property’s details where security affects the answer.

A useful question is, Will ME accept this applicant’s overtime using the attached evidence for the proposed loan, and what additional condition applies? Identify the payslip period and secondary document in that request. This gives the response owner an actual calculation to assess.

Retain the policy version, date consulted and the responder’s name and role. Record the response date, the facts it depends on and whether credit approval is still required. An exception response remains limited to that scenario.

ME’s CompleteME contact page, checked in October 2026, lists 1300 540 181 for home-loan enquiries. Existing account support uses 13 15 63. For access, onboarding or submitted-file support, use the ME Bank broker portal guide.

If a refinance requires the client to exit an existing ME loan, keep that process separate from the new loan’s policy assessment. The ME Bank discharge guide covers the exit paperwork.

ME Bank Bridging Enquiries

A buy-before-sell enquiry needs a decision about the period when both properties and debts overlap. As at October 2026, ME’s public home-loan range presents CompleteME and EconoME. Send the bridging scenario through ME’s own BDM route to establish the facility and structure ME will assess.

Give the new purchase price and completion date, existing property value and loan balance. Include the expected sale price, selling costs and sale status. Attach the sale contract where signed and identify its completion date.

Calculate the debt during the overlap and the debt remaining after net sale proceeds are applied. State whether the borrower can service both loans and what funds cover repayments during the overlap. Ask ME to answer for those dates and amounts before the client relies on financing the purchase.

A bridging product sold by another Bank of Queensland group brand doesn’t establish ME eligibility. Keep the response in the ME file under the named product and policy version.

Construction Loans and Progress Payments

An ME construction proposal needs agreement on staged funding before the borrower relies on progress payments. ME’s February 2026 Home Lending Terms and Conditions make a single borrowing the default unless ME agrees otherwise. They also require approved works to follow the approved plans and written completion period.

Send the building contract and stage schedule with the plans, approvals and proposed valuation basis. Identify the builder, total project cost, borrower contribution and funds available for overruns. Ask the BDM which ME product supports the proposed construction and obtain the agreed draw conditions with the approval.

For an existing Flexible loan, use its loan contract and subsequent notices to establish the terms governing undrawn construction funds. Its historical product name doesn’t establish availability for a new CompleteME application.

Keep the documents for each stage distinct.

• The builder’s claim identifies the work invoiced and the amount due.
• The broker’s submission record shows what was sent to ME and when.
• The lender’s inspection or valuation checks the work against its funding conditions.
• The borrower’s payment authority instructs payment under ME’s agreed process.

Obtain ME’s applicable payment form or authorised instruction method before the first claim. Record whether an inspection is required and what completion certificates or insurance ME requires for the final draw. An uploaded invoice alone doesn’t establish that ME has authorised payment.

Match each approved payment to the stage and remaining cost to complete. If a variation changes the contract amount or timing, obtain ME’s revised funding decision before promising the builder a draw date.