Up Home Lending Policy for Brokers 2026

Who Provides Up Home

Up is a brand of Bendigo and Adelaide Bank, which is the credit provider named in Up’s Credit Guide. The bank assesses the applicant’s financial position and credit requirements before entering the contract.

The client starts an application in the Up app and must join Up first. Up Home Guides provide application support through Talk to Us. Up also names Tiimely and Bendigo Bank as partners involved when human help is needed during assessment.

Keep that direct route separate from a broker-lodged application. You can compare the client’s Up offer with other options and explain the required evidence, while the client completes Up’s application.

Common ownership doesn’t make Bendigo Bank home loans interchangeable with Up Home. Match any policy statement to the named product and channel.

The Borrower and Income Record

Up’s application eligibility covers Australian citizens or permanent residents living in Australia, applying alone or with one other Up customer. Applicants must be employed or self-employed. Up says a self-employed applicant must demonstrate enough income over at least a year to meet ongoing repayments.

Prepare a record showing which applicant earns each income stream and how it is evidenced. For an employee, distinguish base pay from overtime or commission in the payslips and account credits. For self-employment, reconcile the business results with the personal income the client draws.

These are preparation steps, not a promise that Up accepts every component at its full value. Keep irregular earnings separate so the assessment doesn’t depend on silently treating them as guaranteed salary. Record existing debt limits and ongoing expenses alongside income.

Up’s process includes a property valuation, credit check and financial validation. Its Credit Guide requires verification of financial information and disclosure of likely changes that affect repayment capacity. A client expecting reduced hours needs that change reflected in the record before comparing repayments.

Security and Refinance Conditions

Up Home supports purchases and refinancing, including home and investment property lending. Its published entry criteria include a capital city or major regional centre, at least 10% equity and borrowing more than $50,000. The in-app postcode check determines whether the location fits its zones.

For most purchases with less than 20% saved, Up says lenders mortgage insurance (LMI) is required. Allow for transaction costs as well as the deposit. A purchase price alone doesn’t establish the valuation the lender will use.

Refinance and Feature Checks

For an Up bank refinance comparison, obtain the existing lender’s payout figure and any exit costs. Add the costs that must be funded to the requested new loan. Calculate the loan-to-value ratio (LVR) using the proposed debt and the property value accepted for assessment.

Up’s rates and fees information describes fixed and variable options. Variable loans allow unlimited additional repayments. Fixed loans have an additional repayment allowance, and an early payout or rate change during the fixed period can create break costs.

The Up Home Booklet and the individual Loan Schedule together form the contract. Joint borrowers must maintain the linked 2Up arrangement for the life of the loan. Check the account ownership against the intended offset arrangement before assuming all of a couple’s savings reduce interest.

Up’s offset explanation distinguishes individual and joint loan arrangements. For a joint loan, joint Spending and Savers accounts qualify, alongside the borrowers’ individual Spending accounts. The booklet also includes eligible Essentials accounts and excludes individual Savers from a joint loan’s offset accounts.

Changes to an Existing Up Loan

An existing borrower can configure scheduled repayments in the app. Redraw is subject to the Loan Schedule and the booklet’s conditions. A security substitution requires a written request and the bank’s agreement, which can carry conditions.

Treat a request to change the property, borrowers or loan structure as a separate decision from adjusting a repayment. Give the Up Home team the exact proposed change through Talk to Us and retain its response. Don’t describe redraw as an approved loan increase or assume a new property can automatically replace the current security.

Compare the File With the Product

Record a mismatch as a specific fact that affects the Up Home route. For example, a hypothetical applicant needing three borrowers falls outside the published solo-or-two-applicant model. Comparing a lower rate won’t resolve that applicant mismatch.

Use the same required loan amount and remaining term when comparing offers. The refinance calculator helps compare entered repayments and switching costs. A longer replacement term can reduce the monthly repayment while extending the debt, so show that change separately.

Finish the file with the product’s conditions beside the supporting evidence. Distinguish the client’s estimate from an offer and retain any conditions still outstanding. The useful comparison identifies a route the client can actually use, with the credit decision left to Bendigo and Adelaide Bank.